Posted By:
Kenny ColeBarry,
If the card sold for $100,000 based on the representation that it was from 1897-1899, and if it was later shown to actually have been issued circa 1910, the buyer might have a claim along the lines of constructive fraud and/or negligent misrepresentation against Lelands. Of course, my statement assumes New York, the state whose law would likely be applied since that's where Lelands is from, recognizes those causes of action.
If I was the new buyer's attorney, at least at first blush, suing Lelands is the avenue I would probably look to pursue. Since no wrongful intent need be shown to prove constructive fraud, it would probably not suffice as a defense that Lelands was unaware that its claim regarding the date of the card was wrong or inaccurate at the time of the sale.
IMO, that suit would be a hell of a lot easier suit to win than a suit against PSA for mis-dating the card during the grading process. I would leave suing PSA to Lelands. Just my two cents.
Kenny Cole