Jay...
Seems to me that if I own a card, and I consign it to an auction house, I still own the card and the auction house has a consignment contract, an interest in the card. When the auction occurs I still own the card until my agent, the auction house, is satisfied with the winner's payment, at which time the winner owns the card and the auction house owes me money. The idea is that the auction house is an agent, they NEVER own the card.
If the auction house sends a card I consigned off for grading, I still own the card. So to answer your question, I think the owner of the card still has rightful title and ownership. The auction house, their creditors, the grader, all of those folks may claim some sort of lien on the card, but I don't see how title / ownership would pass without notifying the rightful owner and then proceeding on the lien. Mere possession of the card does not convey title to anyone.
When I send a card to an auction house, I'm not conveying title. I'm entering into an agreement that I will convey title if certain things happen... ie an auction, and payment. And I'm agreeing to convey ownership to the winning bidder, not the auction house nor anyone else.
All of that would be subject to Lord knows what that might have been put in micro type in some contract.
|
07-05-2009, 09:26 AM
Similar Threads
Threaded Mode