The New York Daily News lead mainstream media reports yesterday about “disgraced sports memorabilia kingpin” Bill Mastro of Masto Auctions plead guilty to mail fraud and admitted to trimming/altering a high value trading card to increase it’s value. Mastro will be sentenced by U.S. District Court Judge Ronald A. Guzman, and faces up to five years in prison. [Read more…]
This week The New York Times published an interesting article (“As Art Values Rise, So Do Concerns About Market’s Oversight”) about customs in the high end art market auction world that are not favorable to consumers. Though the article is specific to the art market and New York (and their own laws, rules, and regulations), some of the issues are very much the same ones we face in the original film and television artifacts market, and is “must” reading for anyone involved in buying and selling original TV and movie props, costumes and other production material sold in the marketplace. [Read more…]
One of the most significant scandals to hit Hollywood memorabilia collecting in the past decade was a series of discoveries in the poster community relating to purported fraudulent movie posters and one sheets. A new update was published yesterday on the MoPo Mailing List at FilmFan.com by Dianne Jeffrey, President and CEO of Studio Conservation Inc. Ms. Jeffrey was the professional who did some of the restoration work (in good faith) on the Dracula poster consigned to a Profiles in History auction in which it was featured on the cover of their “Hollywood Auction 37” sale event in 2009. Ms. Jeffrey has stated on MoPo that she received notice of a default judgment against her from Thomas Rega “in the amount of $263,312.50, plus attorney fees of $18,134.80”; she is a resident of California and the lawsuit was filed against her in New Jersey and she did not represent herself and/or her business in court. Interestingly, Profiles in History was previously awarded a default judgment against Thomas Rega in their own lawsuit filed against him in California. [Read more…]
Auction house Profiles in History filed a lawsuit in Los Angeles Superior Court last week against one of its customers, Albert Tapper, claiming that the buyer won two items in their “Hollywood Auction 53” sale event last month, but only agreed to pay for one (“Lot 197 | Clark Gable early signed, handwritten letter to his dad”) that sold for $8,000 plus buyer’s premium, and not the more expensive lot (“Lot 422 | Charlton Heston “Moses” prop Ten Commandments tablets from The Ten Commandments”) which realized $60,000 plus buyer’s premium. [Read more…]
As per tradition, (see 2007 Year in Review, 2008 Year in Review, 2009 Year in Review, 2010 Year in Review, 2011 Year in Review), what follows is an editorial featuring my personal observations and opinions with regards to the business of buying, collecting, selling, preserving original pop culture artifacts – looking back at the top trends, developments, and news stories of 2012. As is always the case, this is a completely subjective exercise, and merely touches on the developments and events that relate to the hobby. [Read more…]
NBC-4 in Southern California have broadcast a report on their news program and published an accompanying story on their official site looking into claims made by third parties that items offered for sale by Julien’s Auctions, sourced from Michael Jackson’s costume designer Michael Bush, feature Michael Jackson autographs that are not authentic. [Read more…]
As the latest significant update to this ongoing high profile memorabilia auction house fraud scandal, the lead journalists covering the story for the New York Daily News today reports that William Mastro of Mastro Auctions will be changing his plea to guilty on one fraud count, and will admit that he “altered the world’s most valuable trading card, a Honus Wagner T206 that has fetched millions of dollars in a series of high-profile transactions”. It’s last sale was to Ken Kendrick, the owner of the Arizona Diamondbacks, who paid $2.8 million for the baseball card. Mastro originally purchased the card for $25,000. [Read more…]
Per Courthouse News Service, Richard Abrahamson (a former owner of Toon Art) has filed a lawsuit against John LeBold and Americana Dance Theatre, Inc. over the sale of a number of wardrobe pieces attributed to use in various Hollywood films. The complaint was filed in the Hamilton County Courthouse in Cincinnati, Ohio last week, and “Abrahamson seeks $90,000 for breach of contract and fraud, and punitive damages“, per the CNS report. One of the pieces purchased by Abrahamson (via Toon Art) from LeBold in 1999 was Elizabeth Taylor’s costume from Cleopatra (1963), which Abrahamson recently attempted to resell through Profiles in History. The report claims, “[u]pon publication of the [auction] catalogue [sic], the owner of the authentic ‘Cleopatra’ dress contacted Profiles in History to notify them of the fraudulent representation in their catalog“. [Read more…]