Memory Lane sold cards they didn't have per SCD

[Carter08]

Originally Posted by hcv123

It sounds like ML has communicated clearly and directly with all affected parties - which IS business critical. At this point they don't owe anyone else any explanations. I suspect as this unfolds more details will be made available to interested but unaffected (directly) parties.

For ML, Ryan and all other affected consignors and winning bidders, I am very sorry to hear about this and hope the thief is caught and cards recovered.

To all those who are offering could have, should have and would have scenarios I remind you that hindsight is 20/20 and "easy" to see looking back. As previously mentioned it sounds like this was standard business practice with little or no historical problem(s) and was covered by insurance. I suspect that practice will be scrutinized and possibly modified moving forward.

While I understand the question of running the auction with the knowledge that the cards weren't available, I also understand that it really was the best way to establish current fair market value for insurance purposes.

I have and know of others that in the past had issue with Fedex stealing cards and hope they are being investigated here as well. I think their $1,000 cap on "collectible" claims (it's in the fine print) leaves them ripe for incidents like this.

Counter point if it was to establish value: They allowed their customers to waste their time bidding on a make believe auction to maximize their own insurance recovery.