Olbermann and The Plying Dutchman.
Now we have the answer, courtesy the FBI…
According to the indictment, in advertising portraying Mastro Auctions as the premier seller of valuable items, including the world’s most expensive baseball trading card, a Honus Wagner T-206 card, Mastro allegedly failed to disclose that he had altered the Wagner T-206 card by cutting the sides in a manner that, if disclosed, would have significantly reduced the value of the card.
The “Mastro” in question is Bill Mastro, who I have known since we were both teenagers. At age 19, he had bought a Wagner for $1,500 and thus completed his T-206 set. Those of us whose own massive collections might have been worth a total of $1,500 were aghast. My friend and mentor Mike Aronstein told me that some of Mastro’s relatives had actually gathered together to consider what we would now call an “intervention” or forcing him to seek psychological help. It was believed that no Wagner had previously sold for more than around $250. At the left is how this startling development was contemporaneously covered by a monthly publication I used to write for called The Trader Speaks.
Mastro was already buying and selling cards that were not intended for his own collection. By the ’80s he had gone from card dealer to the founder of one of the first sports memorabilia auction houses, Mastro Auctions, and would regularly work the phones to try to drum up publicity for his auctions.
It eventually became a $50,000,000 business. And now it’s gotten Mastro and some of his colleagues indicted. And not just for the deception regarding the Wagner.
...In short, if you bought from Mastro, you stood an excellent chance of bidding against people who were there only to drive up the price.
Posted: July 27, 2012 at 08:10 AM | 45 comment(s)
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