What's the best way to protect myself from buying stolen cards?

KallMaloneSay

My shop just finally got in the phone book and naturally I'm getting 20 or more calls from people trying to sell their cards. Of course 19 of those 20 calls are for collections of 1988-1995 Topps and Donruss baseball, but I get one decent call per day. I actually had a call today with a guy claiming to have a 52 Topps Mantle (I'll beleive it when I see it, it probably falls in line with the people that have told me they have a Babe Ruth rookie card and when they bring it in it's a 76 Topps ATG Ruth in VG condition). Anyways, I've talked to several other card store owners who have bought $7000 in cards that were actually stolen and as a reward they only got 10% of that back.

Since I know there are some former shop owners (Jay?) and other semi-large dealers, what is the best way to avoid buying a card that has been stolen? Naturally if they're graded I'd call that grading company (I'm still a little shaky after the Bobby Hull/Gretzky incident a few weeks ago), but should I also call local police, the FBI or any other entity? I'm not worried about little few hundred dollar purchases, but when the big fish falls into my lap again, what should I do?

Thanks, Jason

habs71

Jason>> I think I'd be getting in touch with LVPD/Clark County crime prevention and pose this question to them. I'm sure they can point you in the right direction.

Because it does happen....



<< <i>Massive baseball card collection stolen

A Tulsa man began collecting baseball and other kinds of trading cards when he was only 3 years old, until his collection grew in value to more than $100,000.

It was a hobby he now shares with his son, or it was, until someone stole his entire collection. News on 6 crime reporter Lori Fullbright has his story.

"I walk in, I'm going out of town and walk in here for a suitcase and this is what I find. All these were full of boxes, full of boxes." Matthew Henderson's card collection was worth $100,000, one day it was here, the next day it was gone, a blow right to his heart. "I spent every allowance, every dollar earned from my uncle, my paper route. I became a childhood dream and hobby."

Matthew had every TOPPS complete set from 1971 to 2000 and had a unique way of storing them. Not from one to 800 like most people, but rather, one year in each box and then sorted by teams, with his favorite the Reds, always first, followed by Yankees, Dodgers, etc.

His star cards were mostly from the 50's and 60's and kept in books like this one and organized by player. “Every Pete Rose, every Nolan Ryan, Mickey Mantle, Willie Mayes." The collection had cards of every sport and even specialty cards from TV shows and movies. Pretty much any card made in the past 30 years.

It was a hobby Matthew now shared with his son and hoped to pass on to him someday. "All I want is the cards back and I'm willing to pay. If you want money, take my money, but don't take my cards."

Henderson didn't have insurance on his cards, it's not like an insurance settlement could ever replace a collection that's taken his whole life to amass. Henderson is offering a reward of up to $10,000 if his collection returned.

As always, Crimestoppers will pay a $1,000 to the person who turns in the thief. That number is 596-COPS.


LORI FULLBRIGHT >>






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duner

has anyone ever put a claim against their homeowners/renters insurance for stolen cards??? i've called my insurance company and they assure me the cards are covered....but i don't think they realize the size of the claim if my cards are stolen. i was just wondering others' predicaments.

Glynparson

i had some of my junk cards, modern, damaged in a flood of my home and the insurance company covered them granted it was only for several thousand dollars.
As for buying stolen cards if kids are bringing in mantles etc you may want to really look into it i had a friend that was buying cards from a kid he even got the childs moms permission to buy the cards problem was they were stolen from her exhusband. If it is an older gentleman who looks like he could have collected them or usually if they come in in an old shoebox or something you probably need not worry. You could also call local police and let them know that you would like to be notified if anyone reports card thefts in the area so you can keep an eye out. I dont think this problem is as prevelant as your fears seem to be but it does happen. usually a little common sense will go a long way.

Southsider

You should familiarize yourself with the law regarding stolen property in your jurisdiction. Depending on your state laws, how you handle it may be different. You may also want to keep records with names for big ticket items. Receiving reports from the police regarding stolen collections would also be a good idea to limit your liability.

Regarding purchases from children or minors, I would be leary of accepting any large $$$ cards from children. Minors generally have the right to rescind a contract seeking to be enforced against them. I would suggest insisting on a parent's consent to any purchase that exceeds a few hundred dollars. A signed form by the seller couldn't hurt.

coachh

If there are Pawn Shops in the area, see what procedures they have to follow. Getting positive ID and signed consent from the seller can't hurt.

orutulsa

<< <i>has anyone ever put a claim against their homeowners/renters insurance for stolen cards??? i've called my insurance company and they assure me the cards are covered....but i don't think they realize the size of the claim if my cards are stolen. i was just wondering others' predicaments. >>



Duner - I may be mistaken, but I believe most insurance policies put a cap on personal collectibles. To cover a collection of any decent size or value, one would normally have to purchase an add-on rider to your current policy to cover it. In a worst case scenario, it would be helpful to have a spreadsheet (or use Beckett's My Collections feature - which tabulates card values) - to catalog your cards in the event you ever had an insurance claim.

invader73

Hi,

I know laws in the UK are different but the owner of my local collectables store uses a digital camera and takes a picture of anybody who comes into his shop with stuff to sell. If a seller is not willing to have their picture taken then he won't buy their stuff. The theory is that anybody selling hot gear will not want their photo linked to it.

seems a good idea to me.

Matt

BigKidAtHeart

<< <i>Duner - I may be mistaken, but I believe most insurance policies put a cap on personal collectibles. To cover a collection of any decent size or value, one would normally have to purchase an add-on rider to your current policy to cover it. In a worst case scenario, it would be helpful to have a spreadsheet (or use Beckett's My Collections feature - which tabulates card values) - to catalog your cards in the event you ever had an insurance claim. >>

Correct! - If you do not believe it, ask Mark Murphy! (or at least read this thread)

goodriddance189

<< <i>If there are Pawn Shops in the area, see what procedures they have to follow. Getting positive ID and signed consent from the seller can't hurt. >>



pawn shops, at least in Texas, have to hold items for 21 days after purchase. all serial numbers (car stereo, tv's, etc) are turned in to the authorites and they run background checks to make sure the items are not stolen. this offers more security to theft victims though; it prevents pawn shops from taking hot merchandise and quickly turning it. even after the after the 21 day period, if an item for sale is discovered to be stolen it is immediately confiscated by the police dept.

getting a signed consent letter or picture ID from the seller wont accomplish anything. it might help get him caught, but dont ecpect your local authorities to make any attempt to recover your money from him. all theyre worried about is getting the stolen merchandise back, which means you as the buyer is the guy whose gonna get hosed.

helionaut

I just write my name in big black letters on all my cards so every one knows who they belong to:D

I wonder about insurance myself. When I was looking for renters insurance, and then homeowners insurance, I always asked about collectibles. They all said no problem, it's covered. I always suspect that they are telling the truth that it's covered, but if I ever have to file a claim, I'd have to prove what I owned, which would be a problem. For sets in the Registry, that might be ok, but the other 99.99 percent of my collection isn't and has no paper trail, receipts, anything. I wonder if getting a complete inventory documented and appraised by a local card dealer would help.

As to the subject of this thread, get IDs. If I sell two paperbacks to Half-price Books, they get my ID. And use your head. If someone comes in and knows nothing about the cards or their value, that raises a flag. If the cards are older than the person, that's another flag. If the person is young and sweaty, that's another flag.

DCICEMAN

Being an insurance agent for the last 25 years, I thought maybe I could help with the insurance questions. The companies I represent will cover baseball cards up to the policy's personal property (Coverage C) limit. The important thing to keep in mind, is that any property considered to be "business property" IS limited under a homeowners policy, usually to a maximum of around $2,500. If you are not a dealer, and just a collector, that should not be an issue. If you are a dealer, then a commercial policy covering your cards as "business property/stock for sale" should be purchased. In any event, it is critical that a detailed inventory of your cards be kept in a safe place, in the event of a loss. Scans of your cards would also be very beneficial. If a loss occurs, it is the owner's responsibility to provide proof of what was lost, and to verify that it actually existed. Without that, having a loss covered by your insurance company will be very difficult. With it, your claim should be settled without much problem. Remember, also, that the loss must be caused by a peril covered under the policy terms. The most likely to occur is theft. Water damage may or may not be covered, depending on how the water damage occurred. I'm sure that not everyone's questions may have been answered here. If anyone has any other questions that I could help with, let me know.
Dave