Statute of limitations on restoration 0

[shadroch]

Strictly hypothetical situation here.

Suppose one was to buy a low to mid grade book off a fellow forumite for a couple hundred dollars. A few years go by and they get a nicer copy of the book so they sell the book in question  to another boardie.  Five years go by and the book changes hands again, with the new owner sending it in for a press and grading. Book comes back as a 3.5 but gets a purple label for a spine seal- which is really strange as the book has a three inch spine split. Who should get stuck holding the bag?

[comicquant]

14 minutes ago, shadroch said:

Strictly hypothetical situation here.

Suppose one was to buy a low to mid grade book off a fellow forumite for a couple hundred dollars. A few years go by and they get a nicer copy of the book so they sell the book in question  to another boardie.  Five years go by and the book changes hands again, with the new owner sending it in for a press and grading. Book comes back as a 3.5 but gets a purple label for a spine seal- which is really strange as the book has a three inch spine split. Who should get stuck holding the bag?

I would say the most recent seller is responsible.  Anytime a book is sold its the sellers responsibility to carefully inspect the book for any resto, defects etc.  By selling that book it relieves the previous seller of the responsibility.  At least thats my opinion.  I've never been wrong before but its bound to happen at some point.   

[AndyFish]

I'd say if you're talking a few weeks maybe even a month with a private seller you might have a leg to stand on, but five years?  Why not fifty?  You could go back to the kid who drew on it with marker in 1972 and hand him a bill for the damages!   It is buyer beware.

Now if you're talking a dealer, I'd say the window is a little bit longer, but still I'd be hard pressed to make a claim even six months out.   Things with the 'rona being what they are everything has slowed down a wee bit but I think honest mistakes do happen.

 

[Dr. Love]

How come the new owner didn't catch it? Whatever the answer is to that, applies to the seller. Unless the seller is a full time dealer, in which case there can be some declared or implied responsibility for expertise in spotting resto.

[James J Johnson]

5 hours ago, shadroch said:

Strictly hypothetical situation here.

Suppose one was to buy a low to mid grade book off a fellow forumite for a couple hundred dollars. A few years go by and they get a nicer copy of the book so they sell the book in question  to another boardie.  Five years go by and the book changes hands again, with the new owner sending it in for a press and grading. Book comes back as a 3.5 but gets a purple label for a spine seal- which is really strange as the book has a three inch spine split. Who should get stuck holding the bag?

Hypothetically speaking, the book in question would determine whether there is or isn't a "bag to be left holding". For instance Lets say the book in question was a TTA 13. Bought as a 3.5 or so before anybody had an inkling that the GOTG franchise would emerge and tat the book's status would change from "just another TTA/Atlas pre=marvel horror common" into a sought after super key.  The book's market value explodes exponentially, and a restored 3.5 soon becomes 2 to 3 times the value of what an unrestored 3.5 fetched when you bought it as unrestored. This is now a book that restored or not, you are not going to want to return it.

There are loads of books like this. TOS 50, MSH 13, MSH 18, etc., etc., books of nominal value and interest and then suddenly, PAM!@  They hit.  So, the question of whom is left holding the bag on a book where resto is discovered at a later date than when purchased can only be properly addressed once a title and number join the elements of the question as important details.

Also to consider, the proportion of market value, the difference between market price of books in the lower grade ranges, between unrestored and restored is slim to begin with, in some cases realizing prices that are very similar!

Edited November 25, 2020 by James J Johnson

[Tony S]

Well, there is the answer I like best. And there is the real answer. The LEGAL answer

When buying raw books caveat emptor applies. It is the BUYER's responsibility alone to check for the suitability and quality (in this case presence of restoration) before making the purchase.  Unless the seller  or selling platform (eBay for instance) gave a specific warranty, the person left "holding the bag" is the buyer.  

I like comicquant's answer. But the answer assumes that because the transaction took place on the boards it is among friends inclined to "do the right thing". But the legal answer is the buyer had a chance to inspect the book after purchased and BEFORE sending it in for pressing and professional grading. They didn't catch it, CGC did. We've all been there - bought a book that looks fine but the experts caught something. The buyer just needs to suck it up, unless the seller that the buyer purchased the book from wants to be nice and help financially in some way. 

If the buyer WANTED a professionally graded, blue label CGC certified  book, he or she could have just bought one already graded and sparred themselves the hassle. They bought raw, rolled the dice and got burnt. It happens. 

Edited November 26, 2020 by Tony S