PCGS And CAC Incorrectly Graded My Coin

I have asked around to some other auction houses and they say that at any time in the future, if a coin is challenged by the buyer and it turns out to not be what PCGS or NGC said it was, the original seller is on the hook for that, regardless of when that is. So 20 years from now, if your consigned coin was found to be fake or graded incorrectly, you had better still have the money you won from it.

Incidentally, if anyone on here knows how to get great collecions to read and respond to their emails I would like to know the trick. ive asked them 3 times since my last posting here to tell me which of my consigned coins that sold a while ago correspond to 2 bank account deposits and got no reply. quite a piece of work this company.

20 years later? I'd be getting legal counsel involved at that point if it were me, but you don't seem to be located in the US if your forum location is correct so you may not have standing to bring any legal action against any US auction houses, and the transaction will be governed by the laws of whichever state said auctioneer is incorporated in (usually Delaware for US companies.) GC and other auction houses might also have binding arbitration clauses as part of their agreements, and that could be a factor as well.

If that happened to me, and an auction house came back and said "hey, PCGS was wrong about this coin that we sold for you 20 years ago, give me $1000 back" they could forget about me ever paying them a thin dime. Let them send it to collections, I'll dodge it until the statute runs, or they can waste a ton of money trying to sue me, and I'll have my "of counsel" tie them up for just as long with all sorts of thrillingly expensive legal gymnastics.

Obligatory "I'm not a lawyer" disclaimer.

I don't understand why anyone thinks that an auction house does not have a duty to its buyers and sellers to resolve such concerns prior to completing the auction and sale of an item and transferring funds respectively. The time for the auction house to resolve this issue was prior to the funds being paid out to the seller and deducted from the buyer (or from the auction house's item escrow account for the purchase in question, if selling by escrow.)

The mere thought that an auction house could actually try to charge me back if THEY missed an obvious error resulting in misrepresentation when listing and selling an item is quite chilling. This is the reason why errors & omissions insurance policies exist: to indemnify the auction house against financial losses incurred due to inadvertent misrepresentation. The auction house absolutely should own up to its failure to perform reasonable due diligence and make the buyer whole while writing off the loss instead of attempting to recoup it from the seller.

As far as I'm concerned his ownership ends as soon as he no longer has a legal right to possess the merchandise and has received consideration in return.

If you're not interested in it, why bother reading it?

If anyone is still interested the coin was relisted at GC and sold on 14 Apr for $500.62.

the consigner statements show which coins sold and how much was paid for each consigner statement. but for bank account disbursements, they don't correspond one to one. for example, there isn't one deposit for one consigner statement, they pool the statements if there are many coins sold in a short period of time.

but there is no accounting for which consigner statments specifically are for which bank deposits. ive tried to add up the consigner statements in different combinations to see if it makes sense but I can't work out the math. so I asked 3 times which consigner statements correspond to which bank deposits. its not an unreasonable request to want to know which coins are for which bank payouts.

moreover, I received no grading fees invoices. at least heritage sends invoices showing what was graded and their cost. the only indication I got saying how much grading fees for my previous submissions were was when the guy who was instructed to tell me what happened with the 1866 coin 9 months after it happened told me how much the fees were in the body of his email.

what gets me the most is the flagrant disregard for not even informing me what was going on. they said it was returned in 30 days. but I hear nothing about it from them for 9 months. this despite sending repeated emails about my account. if they informed me as it happened then at least I could have prepared myself for it.

and they still havent learned. I have yet to hear back about this bank deposit clarification request I made 3 times almost 1 month ago. disgusting behavior, and after I sold more than 15 thousand through their auctions. never again.