Thoughts on Buying from Legendary

Orioles1954 · #1 02-13-2010, 11:15 AM

Quote:

Originally Posted by Bicem

ready when you are...

Jeff,

With the auction house I work for I've never witnessed any shilling, alterations or knowing misrepresentation of any item. We take pride in what we do. We are hopeful that hobbyists will take stock in us and have confidence that they are taking part in an honest auction. Those who know me personally know I wouldn't take part or stay silent on any questionable activities.

barrysloate · #2 02-13-2010, 11:31 AM

Here's one way an unethical auction house operates:

Auction houses get to know the bidding habits of their best customers, and know that certain whales, particularly those who are working on top registry sets, will almost never stop bidding on a rare high grade card, say a "1 of 1." And they pretty much know that if they bump a bid on one of those cards their customer will certainly come back and bid again. These bidders, or marks, will never win any of these pieces unless a world's record price is achieved.

I know often the board is incredulous when they see a high grade vintage card selling for hundreds of thousands of dollars, and don't believe the transaction ever took place. And there is always a board member who seems to know who won it and therefore assumes the transaction was legitimate. So the problem is not whether the card sold, which it did, but how it got to that stratospheric level.

That is why so many of the whales leave the hobby rather abruptly. At some point they discover how they were treated and they drop out. And this has been going on for a very long time.

slidekellyslide · #3 02-13-2010, 12:29 PM

Quote:

Originally Posted by barrysloate

Here's one way an unethical auction house operates:

Auction houses get to know the bidding habits of their best customers, and know that certain whales, particularly those who are working on top registry sets, will almost never stop bidding on a rare high grade card, say a "1 of 1." And they pretty much know that if they bump a bid on one of those cards their customer will certainly come back and bid again. These bidders, or marks, will never win any of these pieces unless a world's record price is achieved.

Exactly Barry...is there any other reason to shill a 1978 Topps baseball set?

vintagechris · #4 02-13-2010, 02:52 PM

Quote:

Originally Posted by Orioles1954

Jeff,

With the auction house I work for I've never witnessed any shilling, alterations or knowing misrepresentation of any item. We take pride in what we do. We are hopeful that hobbyists will take stock in us and have confidence that they are taking part in an honest auction. Those who know me personally know I wouldn't take part or stay silent on any questionable activities.

And this is exactly why Huggins and Scott is at the top of may favorites. I have never heard anything bad about them and honestly, I have never had one bad feeling that something might be wrong. I can't say that about most Auction Houses.

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