If you have been collecting almost anything in the last 20 years, the name Mastronet may ring a bell. The online auction used to auction sports and entertainment memorabilia of all types. They even sold many Houdini and magic related items over the years. They were known for their over-sized catalogs, high end material for auctions and the best prices realized. Now they may be remembered for something completely different.
The FBI has indicted four of the top people of the now defunct company for various types of fraud. Most of the indicted are facing 20 years in prison and $250,000 in fines. Some of the charges are selling a lock of Elvis Presley’s hair that DNA said was inconclusive, shill bidding, trimming the T206 Honus Wagner card that has sold for millions of late and other charges. Here is the link to the Daily News story; they have been on this story for years.
As I have said many times on this blog, be very careful when you want to add something to your collection. Sometimes you can’t just see it coming no matter what you do.