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  1. #1
    Banned
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    Nov 2005
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    730

    Mastro's New "Code Of Professional Conduct"

    When it comes to business ethics and integrity, Mastro Auctions has operated ever since its inception under the premise that actions speak louder than words. We thought, perhaps naively, that that was enough. I have talked to a lot of customers over the last few months, both at the National Convention and through my travels, and have come to the conclusion that our customers, in fact, expect more.
    As the hobby continues to evolve and new concerns plague our industry, the time to assume a proactive stance has arrived. To that end, Mastro Auctions is taking our unwritten code of professional conduct to the next level by enhancing the code and memorializing it in writing (see below). This act of leadership is not required by law or by the industry, but it represents the high standards of commitment and responsibility that Mastro Auctions has always embodied.
    Since we just missed our deadline for the October Classic sale to make this announcement, this code will appear in and be in full effect for our December Premium Catalog sale. As always, we greatly value your support and assistance. By working proactively as a team, we can make a difference in the hobby we all enjoy today -- and ensure that it is headed in the right direction for future enthusiasts.

    Sincerely yours,

    Doug Allen
    President & COO
    Mastro Auctions

    Mastro Auctions

    Code of Professional Conduct

    1. Disclosure of Ownership
    Mastro Auctions allows employees, authenticators, the Mastro Auctions corporate entity and other third party affiliates to own and consign items in Mastro Auctions’ sales. Mastro Auctions will disclose in its catalogs which items are owned by any of the aforementioned parties. PLEASE NOTE: The definition of ownership extends to spouses and immediate family members associated with the aforementioned groups.
    2. Mastro Auctions Employee Bidding Rules
    Certain Mastro Auctions employees are also collectors, and, similar to the practices followed by other major auction houses (e.g. Sotheby’s, Christies, etc.) are permitted to bid in Mastro Auctions sales. The following restrictions have been placed on the bidding practices of employee(s) to ensure fairness for all auction participants: · Mastro Auctions employees do not have access to ceiling or “top-all” bids. One designated administrative employee will have access to this information for the sole purpose of responding to bidding questions or for correcting bid errors. That designated individual will not be allowed to bid in the auction. · Mastro Auctions employees, the Mastro Auctions corporate entity, and all third party affiliates (authenticators, service providers, etc.) are considered related parties. These related parties are prohibited from bidding on each other’s consigned items. PLEASE NOTE: The definition of the Mastro Auctions “related parties” extends to family members.
    3. Disclosure of Restoration
    If Mastro Auctions believes or has knowledge that an item has been altered in any way, this information will be fully disclosed in the auction catalog. Occasionally, we will have items restored in order to improve their presentation quality. In these cases, the extent and nature of any restoration will be fully disclosed. Under no circumstances will we have restoration work done on trading cards.
    4. Trading Card Guidelines
    Mastro Auctions prohibits its employees from altering trading cards. Our policy on altering trading cards is in strict compliance with standards set by all major grading companies.
    5. Use of Third Party Authenticators
    Mastro Auctions is a company of experts. In almost all of the collecting genres handled by the company, there is an employee on staff who specializes in that area. As a result, before an item ever reaches a third party authenticator, it must first pass our scrutiny. Once an item that requires third party authentication has been accepted by Mastro Auctions, the following process will be employed: for each auction, the catalog will identify approved third party authenticating sources by category. We will not sell an item unless it has been authenticated by one of the listed third party authenticators.
    6. Bidding Records
    Effective for auctions held in 2007, all Mastro Auctions bidding records are maintained into perpetuity. These records are considered private and confidential. In order to maintain the privacy of our customers’ information, these records will not be voluntarily shared with any third parties.

  2. #2

    Re: Mastro's New "Code Of Professional Conduct"

    Quote Originally Posted by sammy View Post
    3. Disclosure of Restoration
    If Mastro Auctions believes or has knowledge that an item has been altered in any way, this information will be fully disclosed in the auction catalog. Occasionally, we will have items restored in order to improve their presentation quality. In these cases, the extent and nature of any restoration will be fully disclosed. Under no circumstances will we have restoration work done on trading cards.

    6. Bidding Records
    Effective for auctions held in 2007, all Mastro Auctions bidding records are maintained into perpetuity. These records are considered private and confidential. In order to maintain the privacy of our customers’ information, these records will not be voluntarily shared with any third parties.
    I got their email this morning also. I found #3 and the last line in #6 interesting.

    #3 seems directly related to the Jordan shirt. #6 is a great "Cover Your A**" and I like the line, records will NOT be voluntarily shared which I guess the only way you get it is through the legal process!

    Andrew

  3. #3
    Senior Member Eric's Avatar
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    Jan 1970
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    2,683

    Re: Mastro's New "Code Of Professional Conduct"

    " Occasionally, we will have items restored in order to improve their presentation quality."

    As a buyer, I'd rather have something that's unattractive and real, than restored at the discretion of the auction house.
    Eric
    Always looking for game used San Diego Chargers items...

  4. #4
    Senior Member sylbry's Avatar
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    Nov 2005
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    903

    Re: Mastro's New "Code Of Professional Conduct"

    How is this proactive? Seems reactive towards the MEARS policy.
    Wanted: Minnesota Twins throwback or special event jerseys.

  5. #5
    Senior Member skipcareyisfat's Avatar
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    Nov 2005
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    469

    Re: Mastro's New "Code Of Professional Conduct"

    Quote Originally Posted by Eric View Post
    " Occasionally, we will have items restored in order to improve their presentation quality."

    As a buyer, I'd rather have something that's unattractive and real, than restored at the discretion of the auction house.
    Eric
    I agree. For one, as the owner of the item I would prefer to have control over the restoration. In most cases I think collectors use restoration as a way of preserving as many of the original aspects as possible. Auction houses on the other hand seem to use restoration as a way of enhancing the appearance soley for the purpose of resale. No matter how you look at it, anything that's been added to or fixed on an item once it leaves the locker room is completely unrelated to any game it was used in or to the team it was issued by, which does nothing for me as a buyer.

    Stadium seats come to mind when people talk about restoration. Seems to be a lot of restored "vintage" wooden seats out there. I really don't get why someone would want a seat from an old stadium when none of the original wood is present, especially if it doesn't have a figural end. Some collectors/dealers like to enhance their bats by adding pine tar and other things to. Again, I don't get it. Why not take the football helmet with light to moderate use out to the playground and give it the pounding you think it should've had in the first place? Faux, collector-applied use is so unappealing to me that I would pass on buying something for that purpose alone...assuming the person who did was honest enough to disclose it.

    -Jason
    "The knowledge that this guy has in his head, some of you would never be able to comprehend."

  6. #6
    Senior Member 3arod13's Avatar
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    Apr 2006
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    2,923

    Re: Mastro's New "Code Of Professional Conduct"

    Quote Originally Posted by Eric View Post
    " Occasionally, we will have items restored in order to improve their presentation quality."

    As a buyer, I'd rather have something that's unattractive and real, than restored at the discretion of the auction house.
    Eric
    I agree! I was really surpised they would even do this and/or would even state this. Heck with presentation. I want the GU item as was/is, not touched or altered in any way.

  7. #7
    Senior Member kingjammy24's Avatar
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    Nov 2005
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    3,116

    Re: Mastro's New "Code Of Professional Conduct"

    for a policy to be effective, people have to follow it. for people to truly follow it, they have to agree with it. failure to agree with and follow the policy renders it nothing more than meaningless words on paper. to this end, i see 2 issues.

    1) prior to this new policy, mastro stated on its website:
    "We are not dealers.

    Mastro Auctions is a consignment auction house. Many auctions are run by dealers offering material they own. And in addition to offering an infinitely inferior service, these auctions expose consignors to numerous unreconcilable conflicts of interest."

    doug's now saying "Mastro Auctions allows employees, authenticators, the Mastro Auctions corporate entity and other third party affiliates to own and consign items in Mastro Auctions’ sales."

    the two policies contradict each other. is this new policy simply an admission of what mastro was doing all along but simply failed to let people know? mastro railed against auctions offering items owned by those running the auction and now they're saying they allowed such things. therefore, if doug didn't follow his previous policy what makes anyone think he'll follow this one?

    2) doug is now saying that mastro will disclose ownership because it's the right thing to do. he's says he's being proactive. however, when eric asked doug if he had a financial stake in the winslow helmet, doug wouldn't say. if doug allen believes that disclosing ownership is the right thing to do, then why didn't he do it on the winslow helmet? wasn't he in a proactive mood back then? clearly he didn't disclose ownership because he didn't want to. i'm now supposed to believe that he wants to?

    doug allen is correct when he says that actions speak louder than words. his past actions speak volumes about his likelihood of actually following this new policy.

    it's difficult to believe doug when he says this policy has come about because of "new concerns plaguing the industry" (since when has doctoring items, shill bidding, and conflicts of interest been a new thing?)and because of high standards and trying to help the hobby. i have to think it's more of a PR response to the black-eye Mastro has received over the past year with the winslow helmet, "The Card", the jordan shirt, etc. as well, i'm sure it doesn't hurt in getting the Feds off their back. a part of me also can't help but feel it was also designed to set the stage for an eventual parting with MEARS. obviously they'd be questioned over it and coming up with these policies now enables them to say "no need to worry, as you can see we've got these policies that are just as good as MEARS'!"

    rudy.

  8. #8
    Senior Member
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    Nov 2005
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    309

    Re: Mastro's New "Code Of Professional Conduct"

    5. Use of Third Party Authenticators
    Mastro Auctions is a company of experts.
    "Mastro is campany of experts." At what? Deceptive business practices. Why does a company that has been in business for years all of a sudden create a "Code of Professional Conduct"? Shouldn't any reputable company begin with such a code? Just the name of the release implies that they themselves are admitting they have operated without scruples since inception.

  9. #9
    Senior Member
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    Oct 2005
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    1,210

    Re: Mastro's New "Code Of Professional Conduct"

    I emailed Mastro this morning and asked 2 questions:

    1) why haven't these policies been in effect until now?

    and

    2) if an item is not passed by an authenticator, for any reason, and then is passed by a second authenticator, will THAT be disclosed?

    So far, I have not heard back from them. I will post any replies when I get them.

    Ken

  10. #10

    Re: Mastro's New "Code Of Professional Conduct"

    Quote Originally Posted by allstarsplus View Post
    #3 seems directly related to the Jordan shirt.
    Let's not confuse "restoration" with "fabrication".

 

 

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