Quote:
Originally Posted by benjulmag
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Bottom line to me: Mastro's business practices are the rule, not the exception, not just in this hobby but in collectables in general. Yes, by the letter of the law perhaps they fall short. But then so do the substantial majority of others. Those out to crucify Mastro certainly have enough fodder to make it a grand feast. But they are smoking on something if they feel Mastro is the exception and not the rule.
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Corey
I would expect any dealer who sends items without payment to be sufficiently capitalized to pay the consignor even if the winning bidder defaults; i.e. the auction house would have sufficient cash reserves without drawing on credit. I have no idea whether REA or others were so capitalized, but it is clear with hindsight that Mastro was not.
As such, I don't think you can generalize about such practices without this information.
Max