ICONIC AUCTIONS - Warning about this company

[Cincyj9]

Hi All,

I am really concerned about the practices that Iconic Auctions uses when holding auctions and wanted to receive input before notifying the proper parties. To me it looks like the items were bid up internally at Iconic auctions and then re-listed on eBay when no buyers outbid the internal Iconic Auctions bid.

Also if you look closely, many of the same game used items are listed in their auction every month. For example, the following items closed on 10/1/2017. See below - this is just a list of a few, but there are literally dozens and dozens of the same pattern.

http://iconicauctions.com/Incredible_Mickey_Mantle_Game_Used_H_B_Personal_Mo-LOT67498.aspx - sold for $46,647 (Monday AM listed on eBay under user name presspasscollectibles )

http://iconicauctions.com/Manny_Machado_Game_Used___Signed_2015_Jackie_Robin-LOT67385.aspx - sold for $2400 (Monday AM listed on eBay under user name presspasscollectibles )

http://iconicauctions.com/2015_A_J__Green_Game_Used_Bengals_Jersey__Team_Pro-LOT67537.aspx - sold for $2072 (Monday AM listed on eBay under user name presspasscollectibles )

http://iconicauctions.com/Tyler_Eifert_Game_Worn_Cincinatti_Bengals_Road_Jer-LOT67587.aspx - sold for $901.59 ( Monday AM listed on eBay under user name presspasscollectibles )

http://iconicauctions.com/Rookie_Phenomenon__Aaron_Judge_Game_Used___Signed_-LOT67501.aspx - sold for $5796 (Monday AM listed on eBay under user name presspasscollectibles )

[gorilla777]

I have been seeing this too, every auction. You can add the Kirby Puckett bat to the list, the thing supposedly sells over and over and over, only to then immediately show up on eBay:
http://www.ebay.com/itm/Twins-Kirby-Puckett-Game-Used-1991-1995-Bat-PSA-DNA-Graded-GU-9-5-1B06074-/401415779798?hash=item5d763eb5d6:g:a2kAAOSwrP9Z0sd j

[memorabiliaunlimited]

this is from the rules stated on their auction page:

11.) RESERVES: This auction contains property belonging to third persons known as "Consignors" and lots submitted by Consignors may include a reserve. A reserve is a confidential price agreed to by the consignor and Iconic Memorabilia, LLC, below which a lot will not sell. Iconic Memorabilia, LLC may place bids on behalf of the consignor for such lots up to the reserve. Max bids placed for those lots with reserves will be automatically bid up to but not above the reserve, or up to the max bid if the reserve exceeds the max bid.

this is apparently common. below is from grey flannel's rules:

BIDDING PROCEDURES: Each lot within the auction has a minimum bid, opening bid and/or reserve designated in both the catalog as well as in the online listing which need to be met for an item to sell. A small sampling of lots may have a confidential reserve. The reserve is the confidential minimum price that a consignor will accept before their material sells, this means that a bid of equal or greater than the reserve must be placed for the bid to be successful. GFA may bid on behalf of the consignor and may secure increments up to the amount of the reserve, by placing successive bids if necessary. In limited instances where Grey Flannel has a financial interest in a lot beyond our commission we may place a bid to protect the investment. Reserves when in place will be predetermined and set within the auction prior to the end of the sale. These lots will be designated by "Opening Bid". GFA reserves the right to bid on any lot which it feels is below market and a sound financial investment. All items in the auction (unless an item is withdrawn) without a reserve they will be sold to the highest bidder at or above the minimum bid.

i have bold-faced the important language. i dont think thats very fair of any auction house at all. they can bid on their own items to protect their investment, but no one else can to protect theirs? i think theres a problem with that.

[Phil316]

BINGO regarding Gray Flannel. I brought this up to them as one of my complaints. They played it off and said "thats just the fine print to protect all parties". This is just scratching the surface on Gray Flannel.

[1929tudor]

I think Iconic and Press Pass are the same people

[gorilla777]

http://live.autographmagazine.com/forum/topics/former-owner-of-mastro-auctions-sentenced-to-20-months-in-federal?commentId=3524372%3AComment%3A812019&xg_source=activity

That was discussed in this forum above