O/T: $3.7 Million O-Pee-Chee Hockey Card Case Still in Limbo

[parkplace33]

Originally Posted by 4815162342

$3.72 Million 1979-80 O-Pee-Chee Hockey Case Went Unpaid; Will Return to Auction

https://www.sportscollectorsdaily.co...rn-to-auction/

“In April, two months after the auction, buyer Jack Arshawsky told CBC Saskatchewan that he had paid $3 million of the $3.72 million but was hoping to find another buyer who was ‘more passionate’ about collecting to take it off his hands. He even indicated he was thinking about donating it to a girl he’d had a crush on years ago.

…

However, Heritage Director of Sports Chris Ivy told The Athletic that the auction house never received a payment of any kind from Arshawsky.

‘It’s just unfortunate that this gentleman participated and appears to have either no intention or didn’t have the ability to pay for it,’ Ivy told The Athletic, which first reported that the case was returning to auction.”

Shocking!

[calvindog]

The winner is a clown who has no money, obviously. If he had any real money, the consigner/Heritage would have sued him.

Heritage is rarely caught like this. I had a card for which I received an accepted "make an offer" price and before I even pulled the card out of my safe, I received an email from Heritage telling me they didn't believe the buyer was legit. A few minutes later they confirmed this for me and I never sent the card back to Heritage.

[Aquarian Sports Cards]

Originally Posted by calvindog

The winner is a clown who has no money, obviously. If he had any real money, the consigner/Heritage would have sued him.

Heritage is rarely caught like this. I had a card for which I received an accepted "make an offer" price and before I even pulled the card out of my safe, I received an email from Heritage telling me they didn't believe the buyer was legit. A few minutes later they confirmed this for me and I never sent the card back to Heritage.

Hard to believe they didn't vet him a little more thoroughly for a nearly 4 million dollar bid. No chance he's just a flake with money? I imagine the cost of going after him would have to be shared with the consignor, and then what's to guarantee he pays even if judgement is levied against him? Seems like potentially a ton more hassle and a lower profit than just re-selling it. I wonder if they reached out to underbidders and got shot down? Technically if offered to an underbidder you are supposed to remove ALL of the non-payer's bids since they weren't valid. so if it was only two guys bidding it up for a while, the correct offer to an underbidder may have also been unattractive to the consignor. I can't see this selling for anywhere near the same price a second time for all of these reasons, plus the bad publicity. So of course it will probably sell for more lol.

[calvindog]

He doesn't sound like a flake with money -- he sounds like a flake with no money. If he had money I feel comfortable that he'd have been sued by now. After all, the bid is a binding contract and he admits as much.

Heritage just let one slip through the cracks, I suspect.

[Aquarian Sports Cards]

Originally Posted by calvindog

He doesn't sound like a flake with money -- he sounds like a flake with no money. If he had money I feel comfortable that he'd have been sued by now. After all, the bid is a binding contract and he admits as much.

Heritage just let one slip through the cracks, I suspect.

Obviously you know more about the legal process than I do, though not as much as Travis of course, but unless they could also recover the litigation costs isn't suing him likely to net less than just reselling it? Of course there's the bad look/PR of letting a guy off the hook and inspiring others to copy him I guess.

[BillyCoxDodgers3B]

Originally Posted by calvindog

He doesn't sound like a flake with money -- he sounds like a flake with no money. If he had money I feel comfortable that he'd have been sued by now. After all, the bid is a binding contract and he admits as much.

Heritage just let one slip through the cracks, I suspect.

As was relayed in news pieces, I have a recollection that it was mentioned he inherited money. Also, he was not American, so would that present further difficulties with the legal aspect? Perhaps, but that high a bill would be incentive for anyone to strongly attempt to collect on it regardless of complcations. Maybe the whole back story is contrived. Who knows?

[calvindog]

If the winning bidder is foreign, suing him probably isn’t worth it. But if he’s in the US and has identifiable assets, I’d sue his ass off and at least take some damages off him for his conduct.

[Aquarian Sports Cards]

Originally Posted by calvindog

If the winning bidder is foreign, suing him probably isn’t worth it. But if he’s in the US and has identifiable assets, I’d sue his ass off and at least take some damages off him for his conduct.

OK I wasn't sure about recovering damages. That makes more sense to me. I would also imagine that Heritage has a clause in their terms and conditions assigning jurisdiction but that still might not help with a foreign buyer when it comes to collecting.