Memory Lane sold cards they didn't have per SCD

jayshum · #1 05-07-2024, 08:16 AM

Quote:

Originally Posted by savedfrommyspokes

Or just pick them up from the Fedex location near the airport on your way to the BW?

Not understanding the logic to send this shipment to the BW opposed to picking up at the Fedex location. At least if someone at Fedex pilfers the cards, the collectibles insurance would cover.

From the SCD article, ML is not the only one to do something like this:

"If it�s impractical to drive to a remote location for a show or other event, dealers often ship items ahead of time, tracking shipments and making arrangements to take delivery. One former auction house owner told us Monday that while the process can be nerve wracking, problems are rare."

Also, I would think that ML would have insurance to cover themselves for this type of occurrence. I doubt they would risk sending several million dollars worth of cards in a way that wasn't covered.

brianp-beme · #2 05-07-2024, 11:51 AM

Quote:

Originally Posted by jayshum

From the SCD article, ML is not the only one to do something like this:

"If it’s impractical to drive to a remote location for a show or other event, dealers often ship items ahead of time, tracking shipments and making arrangements to take delivery. One former auction house owner told us Monday that while the process can be nerve wracking, problems are rare."

Perhaps this would be fine if it were a box of 50 of my craptastic cards with a total worth in the very low 4 digit range. Just because shipping in this fashion has been a common practice doesn't mean it makes sense with such a valuable 7 digit box shipment. Memory Lane shouldn't get off with a "oh well, shit happens" pat on the back. They handled this shipment with little foresight, not much more than if it were flowers sent to the mother-in-law for her birthday.

And how honorable is it to let the stolen card lots continue as if the cards were still legitimately being auctioned? At some point before the auction end these lots should have been closed when they hadn't been recovered. As others have mentioned value could have been determined by other methods rather than an integrity challenged phantom auction.

Perhaps out of my financial collecting universe, but I think a common sense perspective...my 2 cents from a guy who owns multiple cards worth 2 cents.

brianp(arker)-beme

jayshum · #3 05-07-2024, 12:15 PM

Quote:

Originally Posted by brianp-beme

Perhaps this would be fine if it were a box of 50 of my craptastic cards with a total worth in the very low 4 digit range. Just because shipping in this fashion has been a common practice doesn't mean it makes sense with such a valuable 7 digit box shipment. Memory Lane shouldn't get off with a "oh well, shit happens" pat on the back. They handled this shipment with little foresight, not much more than if it were flowers sent to the mother-in-law for her birthday.

And how honorable is it to let the stolen card lots continue as if the cards were still legitimately being auctioned? At some point before the auction end these lots should have been closed when they hadn't been recovered. As others have mentioned value could have been determined by other methods rather than an integrity challenged phantom auction.

Perhaps out of my financial collecting universe, but I think a common sense perspective...my 2 cents from a guy who owns multiple cards worth 2 cents.

brianp(arker)-beme

I was just pointing out that what ML did was apparently not uncommon according to someone who used to have an auction house. No indication about whether that was true for cards this valuable. Personally, I was shocked to read that an auction house would be shipping that much value in the way described, but if it was cheaper and had always worked before without any problems, I'm not surprised they would keep doing it.

brianp-beme · #4 05-07-2024, 12:29 PM

Quote:

Originally Posted by jayshum

I was just pointing out that what ML did was apparently not uncommon according to someone who used to have an auction house. No indication about whether that was true for cards this valuable. Personally, I was shocked to read that an auction house would be shipping that much value in the way described, but if it was cheaper and had always worked before without any problems, I'm not surprised they would keep doing it.

Sorry, I was utilizing your quote of the Sports Collector's Daily article instead of quoting it from the Sports Collector's Daily directly, pretty much out of laziness, and not questioning your viewpoint, which seemed fairly obvious to me. And I can understand why this shipment would happen, because that was how it was handled in the past, just questioning the lack of foresight with such an incredibly large value shipment.

But then again, this parallels how most practices only get changed after something catastrophic occurs. As I learned last semester in my Human Nature 101 class.

brianp(arker)-beme

Snowman · #5 05-07-2024, 12:59 PM

Quote:

Originally Posted by jayshum

I was just pointing out that what ML did was apparently not uncommon according to someone who used to have an auction house. No indication about whether that was true for cards this valuable. Personally, I was shocked to read that an auction house would be shipping that much value in the way described, but if it was cheaper and had always worked before without any problems, I'm not surprised they would keep doing it.

Other auction houses use armored trucks to deliver $2 million dollar packages. Probstein regularly posts videos of him getting these on social media. Why would they go through the added inconvenience and expense of using an armored truck if they could have simply just shipped it via FedEx and saved a lot of money?

Lorewalker · #6 05-07-2024, 01:15 PM

Quote:

Originally Posted by Snowman

Other auction houses use armored trucks to deliver $2 million dollar packages. Probstein regularly posts videos of him getting these on social media. Why would they go through the added inconvenience and expense of using an armored truck if they could have simply just shipped it via FedEx and saved a lot of money?

Just maybe Probstein is putting on a dog and pony show...for social media to...show everyone how awesome he is. VOMIT. Anyway, as I posted above, the insurance policy will dictate the method the insured is required to use based on the value of what is being shipped.

And it is 50 fucking cards. Carry them on the plane with you.

ValKehl · #7 05-07-2024, 01:41 PM

Here's an aspect I don't recall seeing mentioned thus far. Did Memory Lane notify the hotel in advance of the $ value of the shipment? My guess is NO! If ML did advise the value, I'm guessing that the hotel would have refused to accept any liability for loss or damage to the cards while in its possession. Also, I'm thinking the hotel would have instructed ML to address the package to the hotel's manager, who immediately after signing for the package upon receipt would have placed it in the hotel's safe. And, I'm thinking that the hotel would likely have charged ML for this extra service.

IMHO, it was totally inappropriate, even if not illegal, for ML to continue the auction for these 50 cards because ML knew they were not available to be delivered to the auction winners. IMHO, this is the same as the eBay scenario that someone mentioned. While I fully understand the desire to continue the auction in order to determine values to be paid to the consignors, IMHO, this does not override the total inappropriateness of leaving these cards in the auction.

Seven · #8 05-07-2024, 01:47 PM

This entire situation is just terrible. Truly awful people exist in this world that commit acts like this. For the sake of all parties involved, I hope the cards are recovered, but I do not think it's likely.

Ryan, your insight and transparency regarding all of this has been great. People can point fingers until they are blue in the face concerning whose fault it is, but the situation is what it is.

steve B · #9 05-08-2024, 08:31 AM

Quote:

Originally Posted by Snowman

Other auction houses use armored trucks to deliver $2 million dollar packages. Probstein regularly posts videos of him getting these on social media. Why would they go through the added inconvenience and expense of using an armored truck if they could have simply just shipped it via FedEx and saved a lot of money?

That "show" has value.

The same reason Mr Mint had a briefcase full of cash and put all that cash in a display case. Not every show, but at one I helped at. The promoters table I worked was right near him, and it was interesting watching him work. More circus than anyone else I ever saw, but he bought a lot of stuff.
Not a style I would or maybe even could emulate. But it worked very well for him.

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