MEARS effort to help clean up the hobby. REA signs on.

[Archive]

Posted By: Paul Moss

While this stance by Mears might seem to be lofty and noble, the fact of the matter is that this is one of the most illconceived and unrealistic platforms I could possibly imagine.

Let's see. Mears wants to conduct audits of the auction houses? What!! a for-profit enterprise wants to go through the records of another business purportedly to see if they are on the level, and this just to allow the auction house to do business with them? Riiigghhhtt! There's the door buddy!

So REA signed on the dotted line. Good for him. Yet I fail to comprehend why it should bother anyone whether a lot is house owned or other party consigned. What difference does it really make? I've seen the posts bemoaning the fact that buyer's premiums are attached to these lots. So what? Any item is worth a specific amount on any specific day, it's the bottom line that counts so does it really matter as to who actually owns said lot? If no buyer's premium is due on house lots, do you really think that item will actually sell for a lower price? My God, some people are naive, as if buyer's premiums aren't already figured into the bid amount by sophisticated bidders. An auction house is a living, breathing entity whose sole purpose is to make money and they are not in existance for the sheer love of the hobby. My God! sometimes I think that the entire industry has been infiltrated by communists and socialists. Either you trust the company or you don't, it's as simple as that, and no self appointed guardian of the public good would ever be able to ascertain whether shill bidding had actually taken place.

While I'm on the subject of REA, great company and they do give cash advances to consignors. Should this also be disclosed as they now have a fiduciary interest in the material? Bottom line, how far do you want to take this nonsense?

Mears, obviously a well respected name in the industry who have decided to diminish their income for what they perceive as being right. Admirable, but destructive. If you don't think that the auction houses will now champion a new service to authenticate, you would be very much mistaken. They have a rather easy website to navigate, and I did find it interesting that there is a page designed to list items being auctioned by employees. While full disclosure is admirable, I find this to be disconcerting given the fact that they are selling what they in fact authenticate. This is not to imply that there is any unethical behavior, but I really don't see the same comfort level being shown if PSA or SGC had a similar option for their employees, who are strictly forbidden to buy and sell product.

I could ramble on with my observations, but let's face it, until there is a professional organization similar to that found with virtually every other hobby, with strict membership requirements and a code of ethics, we are merely blowing smoke up our backsides.