Mastro Auctions, the largest sports memorabilia auction house, has closed amid an FBI fraud investigation. Three Mastro executives have purchased the company’s assets and will launch a new company called Legendary Auctions. Part of the investigation by law enforcement is focused on charges of “shill bidding”. [Read more…]
An article published in 2007 (see Auction House Buying Considerations, Part II: Chandelier Bid (“Sham Bidding”) Legislation) discussed proposed legislation related to “sham” or “chandelier” bids, described by a New York legislator as “chicanery perpetrated by auction houses,” with auction house Sotheby’s opposed to the legislation. [Read more…]
As reported Thursday, Michael Jackson has filed a lawsuit against Julien’s Auctions over the upcoming auction event in April, liquidating Jackson’s personal property and memorabilia from Neverland Ranch. Now Auction Network, the online bidding service provider, has announced on their website that they are withdrawing as a partner in the auction “unless or until the controversy is resolved”. [Read more…]
There has been a great deal of controversy in the news in the past week with regards to three unrelated auction house events, including Christie’s auction of “national treasures” originally looted from Beijing in 1860, India’s attempt to halt the sale of Mohandas Gandhi memorabilia scheduled for auction today by Antiquorum, and Julien’s Auctions upcoming sale of Michael Jackson memorabilia (which today Jackson is threatening with lawsuit). [Read more…]
The Philip Weiss website has been advertising a “Special Superhero Weekend” auction event for about a month, with highlights noted as “The Dane Nash Collection” of Superman costumes “originally purchased from Jim Hambrick”. Per the website, this auction event has been canceled, with no further details or explanation. [Read more…]
The Heritage Auction Galleries website now offers the online catalog and listings for their upcoming event, “Signature Music & Entertainment Memorabilia Auction – Auction #7004”, to be held February 21-22, 2009 in Dallas, Texas.
Today, Anthony Shkutnick’s *stoneark* eBay account (AKA stonark, AKA Corner Collectibles, AKA Cornner Collectibles) was changed to a suspended or “NARU” status (Not A Registered User – or – No Longer A Registered User). This dealer has been the focus of an ongoing investigation into the provenance of items offered for sale to the public that were “guaranteed authentic” wardrobe and other personal items attributed to various classic Hollywood stars and other celebrities. [Read more…]
Today, professional wrestler Lanny Poffo has declared that a Letter of Authenticity bearing his (misspelled) name and signature, included as proof of authenticity in a recent *stoneark* auction, is fraudulent.
