Robert Edward Auctions has filed suit against a New York Catholic school...

Peter_Spaeth · #1 06-13-2010, 08:50 AM

i wonder what became of the memorabilia used as collateral that could not be authenticated to Rob's satisfaction? If the story dealt with that I missed it.

M's_Fan · #2 06-13-2010, 10:04 AM

This is the danger of providing cash advances to consignors, if the consigned items turn out to be fake, you've just handed over cash for nothing, and the consignor will certainly dispute your lack-of-authenticity claim, which is a mess that lands in court.

I've wondered what sort of interest rate REA charges on their cash advances, it has to be high (or should be high) for them to take on such crazy risk.

I also wonder how many people do the cash advance thing with REA, it might just not be worth it...

slidekellyslide · #3 06-13-2010, 10:55 AM

Quote:

Originally Posted by Peter_Spaeth

i wonder what became of the memorabilia used as collateral that could not be authenticated to Rob's satisfaction? If the story dealt with that I missed it.

Maybe you'll read about it at haulsofshame.com someday?

Yeah, probably not.

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