Auction protocol

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Model T Ford Forum: Forum 2010: Auction protocol
Top of pagePrevious messageNext messageBottom of page Link to this message  By scott rosenthal on Friday, June 25, 2010 - 11:02 am:

What legal accountability does an aution house have for items that they represent? Looking at the RM Auction and noticed a well known 1909 Landaulet back up for sale. The advertisement claims this is a surviving original that has been restored, however, the person who built this car previously informed me that he constructed this car from an assortment of various non-1909 and reproduction chassis parts, along with a reproduction body. If a buyer purchases this car based on the RM description, could RM be held legally liable, if it is determined that the car is not authentic? I would expect a large auction house like RM would be especially careful of something like this.
Regards,
Scott


Top of pagePrevious messageNext messageBottom of page Link to this message  By Eric Hylen on Friday, June 25, 2010 - 11:43 am:

The auction house typically puts a disclaimer on your bid card, stating that their claims about any items are "to the best of their knowledge". To hold them legally liable, the winning bidder, would have an uphill legal battle tying to prove that they intentionally misrepresented an item.


Top of pagePrevious messageNext messageBottom of page Link to this message  By R.M.Head on Friday, June 25, 2010 - 12:35 pm:

Isn't this the EE 1909 Landaulet? Def. a bitsa + repop car. The open valve engine might be one of a few "made in ON in the 80's" blocks. Check w. Grainger at The Guild for details. Caveat Emptor. Auction houses sell, not restore, cars, and they are only there to profit from middling. They will claim anything they can get away with, legally, for a buck. RM isn't big because it points out faults with their consigned items. P.T. Barnum said it best.....


Top of pagePrevious messageNext messageBottom of page Link to this message  By Steve Jelf on Friday, June 25, 2010 - 12:38 pm:

Sellers are so often wrong that I would take any claims with a grain of salt. It's often more a case of ignorance than crookedness. The seller of my TT project thought it was a '22, but the engine indicates a 1924 vehicle. The seller of my 1923 touring thought it was a '22. Caveat emptor.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Howard Heninger on Saturday, June 26, 2010 - 04:02 am:

Auction sales are typically on an “as is, where is basis.” Buyers must rely upon their own inspections, although RM is pretty good at providing complete and accurate information regarding lots offered.

Any additional information or corrections are typically announced by the auctioneer at sale time.

You should contact Rob Myers (rmyers@rmauctions.com) and report your findings.


Top of pagePrevious messageNext messageBottom of page Link to this message  By scott rosenthal on Saturday, June 26, 2010 - 07:12 am:

Thanks All: Hopefully a prospective buyer for this item looking at this site sees this thread. I have to wonder whether the guy who supposedly bought this for 81K knew what he was getting? Pretty sad statement about RM. One could be excused for questioning what else they handle may be similar smoke and mirrors.
Regards,
Scott


Top of pagePrevious messageNext messageBottom of page Link to this message  By Royce Peterson on Saturday, June 26, 2010 - 08:45 am:

The auction house description is provided by the seller. The auction house bears no responsibility except to convey the title to the new owner and the cas to the seller after all fees are apid. They have no responsibility to determine authenticity.

Caveat Emptor.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Bill Schaller on Saturday, June 26, 2010 - 10:21 am:

How would RM possibly know anything other than what the seller tells them?


Top of pagePrevious messageNext messageBottom of page Link to this message  By scott rosenthal on Tuesday, June 29, 2010 - 12:47 pm:

Good job Howard. Whether it was in response to your having posted the RM Email address here, or other reasons, RM Auctions has now changed the description of the aforementioned 1909 Landaulet to correctly reflect that this is not an original automobile. Kudos to RM for stepping up in making this auction a fair deal for every bidder.
Regards,
SCott


Top of pagePrevious messageNext messageBottom of page Link to this message  By R.M.Head on Tuesday, June 29, 2010 - 10:14 pm:

well, the decription doesn't say bitsa, but it does say exhaustively restored...."well known early Ford collector and restorer"....?? Well known, certainly. Infamous. Notorious. The nouns and adjs. go on....


Top of pagePrevious messageNext messageBottom of page Link to this message  By bob sell on Tuesday, June 29, 2010 - 10:47 pm:

i am a liscensed auctioneer in ohio. we try very hard to represent our items as clearly as we know. some however do not both out of ignorance or just not knowing, or intentional. the rule is allways caviet (sp) emptor or "buyer beware" an auctioneer is only as good as his research or knowledge of the product he is selling.remember the auctioneer is merely an agent for the owner, and the buyer is ultimately responsible for knowing what he is buying. good luck! check us out at sellsauction.com


Top of pagePrevious messageNext messageBottom of page Link to this message  By Michael Deichmann on Wednesday, June 30, 2010 - 02:07 pm:

Milage may certainly vary when it comes to to what extent auction houses try to give a right and thorough description of the items.
Among veteran car entusiast in Denmark, we know of an Isotta Frachini with all danish history (I've been passenger in it :-) that after the owners dead was sold to a US owner, which restored it and then sold it at Christes in New York. The car is a Tipo 8A of which there was made some hundreds, but sometime down the road it appeared at Christies auction as a Tipo 8B which is a very rare model.
Officers from Danish Historic Car Club contacted Christies and told them the error and even presented evidence.
It was all neglected and now the new owner have payed a lot of money for a car that is not what he think.


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