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Kryptonitecomics Consignment?

118 posts in this topic

I've had Shane auction off a few of my coins a long time ago. Most recently, I had him auction off about 80 high grade Roosevelt dimes.

 

The coins were auction back in February/March. I gave Shane a month to allow for returns. Then emailed him about payment, but didn't hear back immediately. On May 14th, I emailed him again. This time he said that he would get the spreadsheet together and get me paid.

 

Here it is June 4 and I have not heard back from him since. I sent two emails this morning without a response.

 

Has anyone else had this problem with Kryptonitecomics before?

 

Were you the same poster that started the thread ATS that made reference to $6k or are you another poster he owes a few grand? Has this hit the five figure mark? I wonder if there is a way to help him out, but if he is 5 figures in the hole, then I think it might be too late.

 

I asked this ATS and the OP said he was a different poster

 

mark

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He ran into problems last year, and yes, to my knowledge, they were paid in full.

 

That was last year, and he still had a consignment business, and thus, revenue/profits with which he could cover his outstanding debts.

 

He still does.

 

I asked this ATS and the OP said he was a different poster

 

mark

 

Thanks!

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Is there anyone here he still owes money to? How much and how far past due? What have been your results in trying to collect on the account?

 

Nobody has claimed that he has paid them, he probably owes a lot of people money. What I saw in the thread ATS, the guy that started it was owed $6k and was 3 months late. Another was like $600, and 2 months. Somebody else said that he was way behind and owed them an "embarrassing" amount.

 

He blocked the OP of that thread from contacting him, he stopped responding to emails as well. somebody else who had worked with him in the past said they contacted him and he sent them a new email address and mentioned no problems with payments, and that he would gladly take stuff on consignment.

 

I sell on eBay mostly over winter. I sold a couple BINs in December and noticed them at auction in February. The buyer consigned them. Their $150 turned into $450 as a nickel they bought from me for $100, sold for $350 and the other doubled.

 

I decided to try and sent 6 PCGS coins that I had BINs on for a few weeks and I did not like my pictures on. Sent early March, listed late March - a couple sold less than my BINs, a couple the same, and a couple popped. Overall the total was more than my listed, even with extra commission.

 

I got paid the first week of May (just under $500). Late April, I was starting to wonder settlement terms and contacted a couple previous consigners who to see what to expect.

 

I miss Teletrade, but last couple years SB did not seem like a good place for small consignors. I still have not tried GreatCollections, but should start or improve my pictures.

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Nobody has claimed that he has paid them, he probably owes a lot of people money.

 

I received a check in the mail from Shane yesterday. He's working through the issues and attempting to resolve. I have faith he will make it right.

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Update.....

 

 

I've heard nothing since. I missed the tread ATS because I've been busy with work. Can someone give me the gist of it?

 

Lablover, you were having the same kind of issues too with Shane? (And hey, aren't you a Roosevelt dime guy, as well?...that's what I consigned with him.)

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He is ripping me off for $2,400. Sucks.

 

I started a new thread ATS about it. Did not see the previous ones that got poofed. Guess he is robbing Peter to pay Paul, and, unfortunately, I am Peter.

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He is ripping me off for $2,400. Sucks.

 

I started a new thread ATS about it. Did not see the previous ones that got poofed. Guess he is robbing Peter to pay Paul, and, unfortunately, I am Peter.

 

I believe Brandon (brg5658) was smart enough to copy the thread from ATS

 

So sorry for your hassle and possible loss

 

mark

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I can think of a dozen legal remedies for unresponsive or unethical businesses. Usually the public forums do some good in raising awareness and allowing the aggrieved parties to work together, but not enough.

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He is ripping me off for $2,400. Sucks.

 

I started a new thread ATS about it. Did not see the previous ones that got poofed. Guess he is robbing Peter to pay Paul, and, unfortunately, I am Peter.

 

I believe Brandon (brg5658) was smart enough to copy the thread from ATS

 

So sorry for your hassle and possible loss

 

mark

 

My thread got nuked too. I should have saved it, maybe someone over there did as well.

 

I am livid. Shane took that consignment after he was in trouble with prior big consignments. Some "nice guy" he owed a lot of money to allowed him to try to pay him back by taking more consignments. The only funds he should have used to pay off the others were his commissions. It is clear now his intent was to screw me and pay others - intentional theft, plain and simple. And this "nice guy" indirectly screwed me. The "nice guy" should have made Shane pay up by liquidating other assets (car, house, etc.) or sue him in court, not let him screw others.

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If you have a written contract with payment terms, you can probably file a police report listing all of the items. I doubt anybody will do anything about it unless you attempt to reclaim the stolen property.

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If you have a written contract with payment terms, you can probably file a police report listing all of the items. I doubt anybody will do anything about it unless you attempt to reclaim the stolen property.

 

I don't think that a written contract with payment terms would be required. Or that the property would be considered stolen. But rather, there is an unpaid obligation/debt of the proceeds.

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I have a question or questions:

 

The consignment contract consists of an e-mail out-lining the agreement, correct?

 

In that e-mail agreement, is there any stipulation as to when the consignor is to get paid after the sale and the proceeds are deposited?

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Half the time something like this comes to the local police's attention, they'll take the old stupid cop out of "This sounds like a civil matter."

 

lol

 

"Thank you for supporting our local law enforcement. Good citizen badges are distributed Monday thru Friday @6:00 AM Roll Call."

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I have a question or questions:

 

The consignment contract consists of an e-mail out-lining the agreement, correct?

 

In that e-mail agreement, is there any stipulation as to when the consignor is to get paid after the sale and the proceeds are deposited?

 

:hi: Hi Mr. Woody. :banana:

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Trust is a huge part of the numismatic field, as one of the main employees of MCM told me trust is all we have. That and money. If I were responsible for paying back consignors I would use all necessary means to borrow money to pay people back or offer payment plans. Actually I took someone in another state to court through a lawyer on a $4000 fraud out of a Coin World ad. He made a $50 or so a month offer, which I rejected since the lawyer would get 1/3 too. It turns out the guy was on disability so was judgment proof.

 

It looks like Shane was originally a comic book dealer, though that probably has no bearing on these cases. vulnerabilities_kryptonite2.jpg

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Half the time something like this comes to the local police's attention, they'll take the old stupid cop out of "This sounds like a civil matter."

 

Yes, they do this often.

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Uhmmm...it is a civil matter...at least that what comes through the 100+ posts.

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Hey, any word on how this turned out? Anyone hear from Shane or get payment? Hadn't heard an update.

 

I don't know. I am very worried about him. I have done business with him several times and sent him very high value packages in the past without a problem. If he was inherently dishonest, then I would have been in trouble long ago. I have no doubt that something unusual and beyond his control is going on, but he needs to step up and put this to an end (if it isn't already) or at least tell his consignors what is going on and when this will be resolved.

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Wow, I didn't expected I would reading something like that about Shane because I have consigned to him several times last year, and I don't even have a single issue with him. He paid me back about a month and half later because sometimes the auction winner didn't paid for it or return it which Shane has to relist the coins on auction for other week. All of the businesses are never going up forever, it will have a up and down from time to time. If Shane's business is descending at the moments, I am sure Shane will fix it as much as he can.

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Shane's a good guy, I'm sure he will eventually get the money to you.

 

That's where you're wrong, kiddo. He's not a good guy. Good guys don't willingly commit fraud.

He's sold $1183.85 of coins for me and I haven't got so much as a peep out of him for months. No status update, no apology or remedy. Nothing.

 

 

Oh, and hello everyone!

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