Mastro Auction House Folds Tent

[Kevin Connolly]

This is of interst to some of you who have bought and sold items through Mastro auction house. Some pretty wild happenings are being investigated by the FBI. Here's the link:

Mastro Folds Tent <-----

[Sal Perrotta]

As you know, Kevin, it was clearly stated in the rules that employees, etc. at Mastro were allowed to bid in the auction.

[Richard Kaufman]

A nasty business.

[Kevin Connolly]

Now there is the rub. Employees and I think, consignors to could bid. There are many layers to this one.

I'm not a legal beagle, but say the FBI found something and Mastro gets fined. Is it moot that the corporation is out of business?

[Kevin Connolly]

This is how it all came to light. The Beginning <----

[Brad Henderson]

Is Carrandi involved with this?

[Kevin Connolly]

I don't think so. He owned Random Treasures, a whole different company. I guess there's a decent amount here that are involved with Mastro auctions. I know I had dealings with them.

[David Alexander]

Years ago my wife was involved as a portrait artist in the sports memorabilia business. The company we dealt with produced autographed plates and limited edition prints. I knew the autograhps were genuine in Arnold Palmer's case because I watched him sign over 1300 plates in a three-hour period, the last autographs looking just as good as the first.

I was told by a knowledgeable individual in law enforcement that as much as 90% of autographed sports memorabilia may be faked.

[Ray T. Stott]

I don't think so. He owned Random Treasures, a whole different company. I guess there's a decent amount here that are involved with Mastro auctions. I know I had dealings with them.

KC,
You may want to rethink the involvement between the individual in question and that person's connection to the magic collectibles end of Mastronet prior to, and after, the launching of RTA.

This individual's partner in RTA was a now deceased co-founder of Mastronet auctions. ;)

[Kevin Connolly]

David...In the 1980's I had three baseball cards stores going. In all of them, I never carried an autograph, unless he, the player, was with me signing it. I would definetly agree that 90% of sports autographs are fakes.


Ray...Yes, the deceased was a co-founder(brother) of Mastro. He left Mastro to start Random Treasures. That's what I heard. I do know that they(RT) had some great magic up for auction when they were around.

[Kevin Connolly]

Forgot. I think when the co-founder left, that's when they changed their name from Mastronet to Mastro auctions. Something similar to what just happened yesterday.

[Ray T. Stott]

I do know that this ongoing federal investigation has been provided with irrefutable evidence of prior bad acts of unnamed parties that establishes a pattern that will likely be prosecuted under the RICO statutes.

This thing will plow up a few parties from beneath certain rocks and expose them, and their activities, to the light of day.

A very wide net will be cast.

[Kevin Connolly]

They can cast a wide net. They usually do. But with their speed and court delays, many involved may not be with us.

Already here in NYC, the rumor is Madoff is terminal. That would be a kick in the head.

[Ray T. Stott]

They can cast a wide net. They usually do. But with their speed and court delays, many involved may not be with us.

Already here in NYC, the rumor is Madoff is terminal. That would be a kick in the head.

KC,
We all can take solace from:
The evil that men do lives after them...
Marc Antony

Although Madoff is not of the Christian faith, he should glance over Jonathon Edwards, Sinners in the Hands of an Angry God, to read the tea leaves of an H.G. Wellsian, The Shape of Things to Come, while lounging around in his penthouse.

In re. Mastronet, Mastro Auctions, et al:

From what I am told, this investigation is going to net some strange fishes. After pondering it a bit, perhaps not so strange fishes.

[000]

Ray, what about sending Madoff a book on coin magic to his new residency?

[Ray T. Stott]

Ray, what about sending Madoff a book on coin magic to his new residency?

Better yet, why not send him a head chopper with a failed switch along with a 300 pound Nubian "executioner" to demonstrate the "trick"? :mad:

[Kevin Connolly]

I don't think any Nubian's were caught in the scheme. As a matter of fact, I can't remember the last time I saw a Nubian. :confused:

[Ray T. Stott]

I don't think any Nubian's were caught in the scheme. As a matter of fact, I can't remember the last time I a Nubian. :confused:

That made me smile, KC.

I remember touring The Treasures of Tutankhamen the first week that it opened in the National Gallery of Art in D.C.

All of the artifacts ranged from breathtaking (his gold funerary mask) to the sublime (His gold cane with the head of a leopard as the hand grip and the head of a Nubian king, carved in ebony, as the tip.

King Tut's cane would not be considered PC by some of today's mores; But he was expressing a point on The Middle Kingdom's subjugation of Nubia in battle.

The first Nubian that I ever saw was in Cecil B. DeMille's, The Ten Commandments. :D

[Kevin Connolly]

That's Nubian to me. :cry: I had to say it. :cry:

[Ray T. Stott]

That's Nubian to me. :cry: I had to say it. :cry:

God... :cool:

[magicam]

From the two articles linked to by Kevin:

"When we do our big auctions we're typically dealing with well-heeled guys, and this is what gives them pleasure," Mastro said. "If anything, I think guys are getting more choosy and discriminating about what they buy and how they buy it. But at the end of the day a Mercedes is a Mercedes, and if you want and have the means, you'll pay for it."

Less than two months later, Mastro Auctions is apparently out of business.

Sports memorabilia's largest auction house is at the center of an FBI investigation into shill bidding, card doctoring and other allegations of fraud

During [the investigation about a lot of autographed pictures that was purchased], Mastro could produce no records about the lot," Daniels said. "They could not produce records about who the runnerup was or whether there were even any other bidders."

It will be interesting to see what, if anything, the investigation uncovers, but if shill bidding took place, its not a surprise. Some of the prices realized for magicana were so ridiculously high that one could reasonably conclude only one of two things: either (1) those discriminating, well-heeled buyers were completely ignorant of market prices and didnt care about paying, in many cases, 500%-1,000% above market, or (2) there was some funny business going on with the auctions. I never bid on Mastro or Random Treasures auctions due to concerns about both possibilities. That, and sometimes item descriptions were woefully incomplete, laughably incorrect, and/or grossly misleading.

[Kevin Connolly]

I have bid with both auctions and was happy with my items. I had my number I was going to pay and pretty much stayed with it.

As for worrying about any funny business going on, one must not forget the smaller auctions online. The ones I have seen are one man operations when it comes to running the software/auction itself. They may be even more suspect and even harder to expose.