SUBJECT: BEWARE Steve Verkman, Keith Vari, Leland�s, Clean Sweep & Paragon auctions

Casey2296 · #1 02-04-2025, 06:21 PM

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OP, best of luck recovering from your life/health situation.

I know nothing of the amount/value of items in your collection, the negotiation that took place, or what industry standard is for an AH within those parameters, so I will defer to others responding to that aspect of the post.
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joeb · #2 02-04-2025, 06:42 PM

1) I didn't know Steve was coming, I had been in touch with Keith. Steve showed up with him. In looking at his consignment terms on his website under the "Integrity" section - see attached screenshot - he states they charge a 10% commission on items selling over $500 and 15% for those selling under $500.

2) While Steve says I am getting 60% of both the hammer and buyers premium that leaves the "house" taking 40% of the entire sale - considerably higher than advertised and considerably more than industry standard for such a valuable collection. I have already been contacted by another auction house telling me if I am successful getting the collection returned they would take it on consignment and give me 100% of the hammer + a percentage of the buyers premium.

3) Additionally, while I was looking for other items to show them, Steve was digging through and took items without my knowledge which I discovered after they were gone. My suspicion was confirmed when Steve sent me a list of items in his possession.

puckpaul · #3 02-04-2025, 06:46 PM

Sounds like the consigner is getting 60% of all including the buyer�s premium. That doesnt seem out of line considering the esoteric nature of this collection (i would hardly call the noted items top sellers like a Ruth or a mainstream set or card), the fact that it seems like most of it is ungraded and unauthenticated (costs involved there as well), and it sounds like a lot of smaller items that all need to be catalogued and written up for sale, there is a lot of work here for Steve and crew. Many AH and dealers would have trouble selling the low end items at all, something that Steve can handle.

I have worked with Steve V for 36 years in this hobby and find him to have the highest integrity in the business, a knowledgable dealer who works hard for his consigners and clients. While we dont have all of the information involved, I dont think this is a fair portrayal by the OP.

Paul

notfast · #4 02-04-2025, 06:52 PM

There is no way that diner receipt looking piece of paper with scribble on it is what a company uses for a 6 figure consignment contract�.right?

BobbyStrawberry · #5 02-04-2025, 06:55 PM

Quote:

Originally Posted by notfast

There is no way that diner receipt looking piece of paper with scribble on it is what a company uses for a 6 figure consignment contract�.right?

Sure looks like it.

notfast · #6 02-04-2025, 07:02 PM

So we have 3 options here. I think…

Consignor gets one of these:

60% of hammer and 60% of buyers premium
60% of total sale price (hammer + BP) same as above
60% of hammer

All of these are horrible for the consignor but with a $15k cash advance I could see them being valid unfortunately.

Mark17 · #7 02-04-2025, 07:09 PM

Quote:

Originally Posted by notfast

So we have 3 options here. I think�

Consignor gets one of these:

60% of hammer and 60% of buyers premium
60% of total sale price (hammer + BP) same as above
60% of hammer

All of these are horrible for the consignor but with a $15k cash advance I could see them being valid unfortunately.

Points 1 and 2 are the same thing. Point 3, plus the email clarification Leon shared, becomes the same as points 1 and 2. Conclusion: it's a straight 60-40 split with no additional costs assigned to seller.

I'm not a lawyer, and I don't play one on TV or Net54, but my guess is the $15,000 cash advance is something auction houses like to do, to seal the contract. In other words, I think the willing exchange of cash makes a contract more binding.

Lawyers, please correct me if I'm wrong.

gregndodgers · #8 02-04-2025, 07:14 PM

It may be possible to void or rescind any contract. It depends on the circumstances. On the one hand is an older gentleman with a severe medical problem. On the other, we have a very sophisticated auction house who negotiates these contract a lot. Hmmmm.

Vintage Vern · #9 02-04-2025, 07:19 PM

Do they have any termination clause listed?

jayshum · #10 02-04-2025, 07:28 PM

It looks like the date on the contract is November 30, 2024. The OP didn't say when he talked to Steve about trying to renegotiate the terms, but if it's already been 2 months, I would think that a fair amount of time has already been spent working on the consigned items. Even if the contract was somehow broken, I would expect the auction house would have to be compensated for any work already done.

sflayank · #11 02-04-2025, 07:05 PM

In response to the comment
If the consignor is getting 60% of the total
That's. Okay,?...wow...the auction house taking 40%
He might as well bring his cards to a loan shark
Extra work?...,isn't that the JOB of the auction house
To organize, take pictures etc
Geez

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