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

jayshum · #1 02-04-2025, 07:48 PM

Quote:

Originally Posted by rand1com

Last line on the contract appears to state 60/40 split on authentication which likely means the same ratio for that expense as on the final take. At least, that is how I interpreted that line.

I doubt very seriously the AH is covering all of the authentication fees.

You're right. I missed that.

Luke · #2 02-04-2025, 08:21 PM

Based on Steve's response via Leon, it looks to me like the consignor gets 60% of the total sale (hammer plus BP) and the AH gets 40%. In a vacuum, if the collection really took 2 trucks to haul away, I agree with Steve that that sounds like a massive amount of work (and payroll for his employees) to go through and scan and list. That's just looking at the monetary part.

It would be interesting to hear from other AH owners on how they structure taking a massive collection that is going to take them tons of hours to bring to market.

Aquarian Sports Cards · #3 02-04-2025, 08:39 PM

I would be more worried that the contract doesn't detail what was taken. I am not casting aspersions, I have no reason to believe that anyone is being dishonest, but we advise our clients to make sure that their contract is itemized to a degree that they feel protected.

As for the 60/40 split. I definitely take it to mean of the total sale price including BP.

If this was for one $100,000 item it would be nuts, but if it is for a massive collection I honestly don't think it's out of line.

When we do a massive collection it's almost always on a tiered schedule so they pay less the better the items are, but the cheap stuff is going to cost a fairly significant percentage. 40% might be a bit more than we wind up averaging over a whole collection, but it honestly doesn't strike me as all that weird.

If other companies are offering him 100% plus BP I hope he can get the collection back because that would be stellar if we're actually talking about two truckloads worth a few hundred thousand. That's a LOT of inexpensive items that take just as much work to do properly as the good stuff. I'd worry that these other offers would only cherry pick him even further so that they're only taking the premium items to give him those terms.

Peter_Spaeth · #4 02-04-2025, 08:41 PM

The OP who appears to be a knowledgeable collector could have shopped around for a better deal, no? I am not seeing any grounds to rescind this contract. It certainly doesn't sound unconscionable or anything.

Vintage Vern · #5 02-04-2025, 08:44 PM

A consignment agreement should include details about the parties involved, a description of the goods being consigned, pricing and payment terms, the consignment period, the percentage split of sales between the consignor and consignee, insurance details, any liability releases, and provisions for termination of the agreement.
Key elements to include in a consignment agreement:
Parties involved:
Names and contact information of the consignor (the person providing the goods) and the consignee (the seller).
Description of goods:
Detailed information about the items being consigned, including quantities, specifications, serial numbers, and any identifying details.
Pricing and payment terms:
The selling price of the goods, the commission percentage the consignee will receive, and the payment schedule for the consignor.
Consignment period:
The duration of the agreement, outlining the start and end dates when the consignee is authorized to sell the goods.
Ownership of goods:
Clearly stating that the consignor retains ownership of the goods until they are sold to a customer.
Insurance:
Who is responsible for insuring the goods while they are in the consignee's possession.
Marketing and display requirements:
Any specific instructions on how the consignee should market and display the consigned items.
Liability releases:
Provisions regarding potential damage to the goods while in the consignee's care and who is responsible for such damage.
Termination clause:
Conditions under which either party can terminate the agreement, including potential penalties for early termination.
Dispute resolution:
How any disputes arising from the agreement will be handled, such as through mediation or arbitration.
Governing law:
The jurisdiction where the contract will be enforced.

Casey2296 · #6 02-04-2025, 09:00 PM

Well said Chad, are you in contract law?

Anytime I've consigned I've sent a spreadsheet with every card listed and confirmed each card received by the auction house. Not realistic in OPs case but is also the reason I try to keep my collection to 500 cards max of desirable cards.

I'm also empathetic to OPs situation, letting go of a 40 year collection during a stressful life/health event cannot be easy.

jingram058 · #7 02-04-2025, 09:04 PM

If the OP is unhappy with this contract, he needs to speak with an attorney; see what legal recourse he has, if any. It's not going to be resolved via a card collecting forum.

mannequin1 · #8 02-05-2025, 11:59 AM

I was going to stay out of it but I changed my mind.

I was good friends with Joe from the mid 80's to the early 2000s. I saw a good chunk of his stuff. He had the best Rusty Staub collection in the world, virtuallly everything that existed that he could get.

About 90% of his collection is Rusty Staub. It includes multiples of every Topps card, all the Topps Test issues such as the 68 3D (I think he had 2 or 3 of them), Action Stickers, Discs, Punch-out, Greatest Moments you name it, he had at least 1 of each.

He had several original Jerseys, bats, balls, gloves, a zillion autographed items including mostly photos. You name it. if it was Staub, he had it.

I always thought it was insane that someone could be so obsessed with one player, especially a non hall-of-famer and I knew when he eventually sold the collection most of it would be hard to sell.

He should have gotten 100% or more for all the "cream" in his collection, but all the photos, newspapers, etc. I could see him getting only 50% at most due to the sheer volume.

Phil G

jayshum · #9 02-05-2025, 01:27 PM

Quote:

Originally Posted by mannequin1

I was going to stay out of it but I changed my mind.

I was good friends with Joe from the mid 80's to the early 2000s. I saw a good chunk of his stuff. He had the best Rusty Staub collection in the world, virtuallly everything that existed that he could get.

About 90% of his collection is Rusty Staub. It includes multiples of every Topps card, all the Topps Test issues such as the 68 3D (I think he had 2 or 3 of them), Action Stickers, Discs, Punch-out, Greatest Moments you name it, he had at least 1 of each.

He had several original Jerseys, bats, balls, gloves, a zillion autographed items including mostly photos. You name it. if it was Staub, he had it.

I always thought it was insane that someone could be so obsessed with one player, especially a non hall-of-famer and I knew when he eventually sold the collection most of it would be hard to sell.

He should have gotten 100% or more for all the "cream" in his collection, but all the photos, newspapers, etc. I could see him getting only 50% at most due to the sheer volume.

Phil G

Thanks for posting this additional information about the collection.

rand1com · #10 02-05-2025, 05:03 PM

Quote:

Originally Posted by mannequin1

I was going to stay out of it but I changed my mind.

I was good friends with Joe from the mid 80's to the early 2000s. I saw a good chunk of his stuff. He had the best Rusty Staub collection in the world, virtuallly everything that existed that he could get.

About 90% of his collection is Rusty Staub. It includes multiples of every Topps card, all the Topps Test issues such as the 68 3D (I think he had 2 or 3 of them), Action Stickers, Discs, Punch-out, Greatest Moments you name it, he had at least 1 of each.

He had several original Jerseys, bats, balls, gloves, a zillion autographed items including mostly photos. You name it. if it was Staub, he had it.

I always thought it was insane that someone could be so obsessed with one player, especially a non hall-of-famer and I knew when he eventually sold the collection most of it would be hard to sell.

He should have gotten 100% or more for all the "cream" in his collection, but all the photos, newspapers, etc. I could see him getting only 50% at most due to the sheer volume.

Phil G

Rusty Staub was a very good player and has a following.

However, other than game used items and the few rare cards you mentioned, his value is very limited, especially in volume.

His regular Topps cards other than his rookie have little value.

His autograph is cheap on virtually anything as he signed a ton over his post playing career.

If the collection is truly 90% Staub related, it will be very difficult to sell at any high level, again other than key items.

It takes a LOT of very good Rusty Staub items to get to 6 figures and my guess is he sold most of his game used items himself or consigned them to an auction house.

Vintage Vern · #11 02-04-2025, 09:18 PM

Quote:

Originally Posted by Casey2296

Well said Chad, are you in contract law?

Anytime I've consigned I've sent a spreadsheet with every card listed and confirmed each card received by the auction house. Not realistic in OPs case but is also the reason I try to keep my collection to 500 cards max of desirable cards.

I'm also empathetic to OPs situation, letting go of a 40 year collection during a stressful life/health event cannot be easy.

No, but I did stay at a holiday inn.😀

Casey2296 · #12 02-04-2025, 09:21 PM

Quote:

Originally Posted by Vintage Vern

No, but I did stay at a holiday inn.😀

Haha!

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