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HERITAGE NUMISMATIC AUCTIONS, INC. V. STIEL CRAIG STODDART JUSTICE On Appeal from the 162nd Judicia
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<p>[QUOTE="Sallent, post: 2462308, member: 76194"]From what little I've been able to gather <b>by spending far more time than is prudent looking at the issue</b>, the allegations involve Heritage telling OP that it was going to sell some of his coins at a private closed auction with no reserve, but not to worry because they would tell him what to bid on them (ie. shill bid) so he wouldn't get less for them than what was reasonable, then locking him out as the auction started so he couldn't bid, and his coins selling for 25% or so of what they were worth. He lost $2,000,000 in the process. Heritage allegedly also bid on some of these coins and got them at a fraction of the price (according to the OP).</p><p><br /></p><p>Heritage also bought some coins for 1/3 price and told OP that when they sold them they would share 45% of the profits with him, and never did. He also won some coins on Heritage which they refused to turn over because Heritage felt that they were undervalued because they could grade higher if sent for regrading.</p><p><br /></p><p>Again, these are just allegations from the OP. I have no idea if it's true, partially true, or not at all.[/QUOTE]</p><p><br /></p>
[QUOTE="Sallent, post: 2462308, member: 76194"]From what little I've been able to gather [B]by spending far more time than is prudent looking at the issue[/B], the allegations involve Heritage telling OP that it was going to sell some of his coins at a private closed auction with no reserve, but not to worry because they would tell him what to bid on them (ie. shill bid) so he wouldn't get less for them than what was reasonable, then locking him out as the auction started so he couldn't bid, and his coins selling for 25% or so of what they were worth. He lost $2,000,000 in the process. Heritage allegedly also bid on some of these coins and got them at a fraction of the price (according to the OP). Heritage also bought some coins for 1/3 price and told OP that when they sold them they would share 45% of the profits with him, and never did. He also won some coins on Heritage which they refused to turn over because Heritage felt that they were undervalued because they could grade higher if sent for regrading. Again, these are just allegations from the OP. I have no idea if it's true, partially true, or not at all.[/QUOTE]
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HERITAGE NUMISMATIC AUCTIONS, INC. V. STIEL CRAIG STODDART JUSTICE On Appeal from the 162nd Judicia
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