Memory Lane sold cards they didn't have per SCD

[4815162342]

Originally Posted by Casey2296

Did you get a Dear John email?

Phone call and email. I just hope and pray the cards are recovered and the scumbag thief serves hard time.

[notfast]

Originally Posted by 4815162342

Phone call and email. I just hope and pray the cards are recovered and the scumbag thief serves hard time.

Sorry to hear.

Want to disclose what card or cards?

[4815162342]

Originally Posted by notfast

Sorry to hear.

Want to disclose what card or cards?

[Casey2296]

Originally Posted by 4815162342

Holy Shit Daryl, that's a gut punch.

[Lorewalker]

If ML uses Collectibles Insurance Service, if I read it correctly, it appears they will have no coverage. The attached is from a standard dealer policy that a friend just sent me.

[anchorednw]

It will be interesting to hear from Ryan on this. I for one didn't receive a call/email, but I just had some mid grade T206 and a T200. Old Mill E Collins PSA 6 was most valuable. Lots of winners of of Cracker Jacks posting in the ML auction thread here.

The article mentioned T206, Cracker Jacks, Caramel cards and Brunners as missing.

[jacksons]

And Exhibits.

Originally Posted by anchorednw

It will be interesting to hear from Ryan on this. I for one didn't receive a call/email, but I just had some mid grade T206 and a T200. Old Mill E Collins PSA 6 was most valuable. Lots of winners of of Cracker Jacks posting in the ML auction thread here.

The article mentioned T206, Cracker Jacks, Caramel cards and Brunners as missing.

[Casey2296]

Originally Posted by anchorednw

It will be interesting to hear from Ryan on this. I for one didn't receive a call/email, but I just had some mid grade T206 and a T200. Old Mill E Collins PSA 6 was most valuable. Lots of winners of of Cracker Jacks posting in the ML auction thread here.

The article mentioned T206, Cracker Jacks, Caramel cards and Brunners as missing.

My CJ wins would not have made the Strongsville cut, I'm curios about the Matty though, that's not a card that would miss detection in the hobby. Much like trying to sell the Mona Lisa at a flea market, it's too hot. Unless a Russian Oligarch wants to bury it in his collection.

[gabrinus]

Holy shit that sucks...I understand the insurance angle but that money could have gone to other cards in the auction...Jerry

[brianp-beme]

Originally Posted by gabrinus

Holy shit that sucks...I understand the insurance angle but that money could have gone to other cards in the auction...Jerry

Definitely a great point...not only did this hurt the winning bidders of the missing cards, some of whom perhaps would have shifted their bidding money to other non-stolen lots, but the consigners of some non-stolen cards in the auction perhaps could have had the action on their lots potentially minimized because of the decision to keep the stolen auction lots open.

Condolences to all involved, and just a sucky situation all around that, with some common sense precautions, probably could have been avoided in the first place.


brianp(arker)-beme

[Brian Van Horn]

I didn't see this yesterday, but this is one heck up of a wake up this morning.

[Rhotchkiss]

I received a call after Sunday night (a day after auction ended) telling me that a box of cards had been stolen. First, I was assured that I will be paid out 100%, on the final value of the auction, which I have no doubt will happen, whether insurance covers it or not (and I am sure they will). Second, I was told the auction had to continue in order to establish the fair market value of the cards, otherwise, how does anyone establish the value/hammer price. Third, I was told anyone who won a stolen card will be given the option, but not obligation, to buy the card at the hammer price + BP if they are found. Plus, they are optimistic the cards will be found.

A few other things:

1. The cards were stolen, not lost or misplaced. The cards got to their intended destination, were signed for and stored, and then taken. As far as I can tell, ML has done nothing wrong or irresponsible.

2. It sucks for the buyers, but they are out no money, only expectations. They may have missed out on another card, but they are in no worse position than before the auction started. The bigger issue would have been how much do you pay the consignors? Do you guess, do you just settle, do you litigate? Running the auction, which I am sure was done at the advice of both counsel and insurance, to establish value is certainly the best path with the least damage given the crappy situation that’s nobody’s fault. There is no winning answer under these circumstances. It sucks, millions $$ of cards got stolen and ML is on the hook. No bueno all around

3. ML owes me a lot of money. I have complete confidence I will get every dime (and have proactively been assured numerous times of that and I will get paid before insurance ever kicks in). I do not blame ML for this and I think they are doing all the right things under real crappy circumstances. I think it sucks balls for the collecting community bc the cards may be gone from the hobby forever. Hopefully the turn up.

[B O'Brien]

That’s some bad news. I’m crossing my fingers as I won two of the tougher T206’s in the auction. I just watched a couple of the YouTube videos from Strongsville to see if if they happened to be in the videos, but I didn’t see any T206 on their tables during a couple of the YouTube videos.

No VM or emails, so I’ll keep my fingers crossed.

Bob

[calvindog]

Of course ML had insurance on the cards in case of theft at or loss on the way to a show.

There were 50 cards or so stolen, cards that are easily identifiable if they're either offered for sale at auction or sent into PSA or SGC, who I presume have already been provided scans of the cards and are on the lookout for these cards if sent in raw for grading. Anyone who buys the cards as slabbed would be buying stolen property; not a great investment I promise.

And I have no doubt Ryan will be made whole as if his cards sold for the prices realized at auction; that's what insurance is for.

My guess is some hotel employee stole them, having no idea either the value or rarity of the cards. He's probably panicked at this point, not appreciating what he stole at the time. I just hope he didn't dump them somewhere in an effort to get rid of the evidence. While it's incredibly frustrating for any of the winners of these really rare, special cards, the buyers aren't out any money, just a few hours of sleep. Travis, that can be count two of your humdinger of a lawsuit.

[gabrinus]

Now other auction houses can say "at least our stuff doesn't get stolen in crappy hotel rooms and we pay our consignors within 30 days"...Jerry

[Snowman]

Originally Posted by calvindog

Travis, that can be count two of your humdinger of a lawsuit.

My lawsuit has nothing to do with this. It's a small claims court filing.

Also, I am less confidence than you that the insurance company would pay out on this claim. Hopefully the cards are recovered.

[calvindog]

You’re actually going to take the time to sue ML in small claims court? And then take a judgment from one state and try to enforce it in another state?

[Casey2296]

Originally Posted by calvindog

You’re actually going to take the time to sue ML in small claims court? And then take a judgment from one state and try to enforce it in another state?

I’m reminded of the great Morris Albert hit of 1977 “Feelings”.

https://m.youtube.com/watch?v=CyBcHU...FsYmVydA%3D%3D

[Fred]

Just curious - let's say the cards were found and a perp was arrested - would they have to be held as evidence until a trial? Or could ML sell them and ship them out to the winning bidders and use pictures/scans as evidence?

What if the perp was going to plead innocent. Doesn't that make it even more likely that law enforcement would hold on to the cards as evidence?

[Snowman]

Originally Posted by calvindog

You’re actually going to take the time to sue ML in small claims court? And then take a judgment from one state and try to enforce it in another state?

Yep. They pissed me off. Plus it'll be a fun learning experience.

Same state.

[Casey2296]

Originally Posted by 4815162342

Phone call and email. I just hope and pray the cards are recovered and the scumbag thief serves hard time.

Truly sorry to hear that, bidders got the short shrift but I don't see how it could have played out differently.
I'd assume if the cards are recovered you would be given first option, which isn't much of a consolation but it's something.

And I agree, some flunky Best Western thief should definitely spend some time in the cooler.

[4815162342]

Originally Posted by Casey2296

I'd assume if the cards are recovered you would be given first option

Yes, that’s correct.