Mark, here's the deal. They CAN. But, the thing is most times they don't bother. I checked with Jim Julia about this very thing about three weeks ago, and his response to me was to tell me a story of one particular instance in his auction history when he was about to auction a very rare and old scrimshawed powder horn. He was contacted by a person who claimed to know that the horn in question had been stolen from friend of his, who had collected the insurance on the horn. He told Jim the name of the auction company. Jim called the company and explained the situation, and asked if the company would object if he went ahead and auctioned the horn, and they (the insurance co.) collect the amount they paid out on the claim from the new owner. The company rep asked Jim if he was crazy, said that there was no way they were going to go out in their warehouse and search for the paperwork on a powder horn that they settled on 12 years previous. Jim asked if he would sign a release, which he gladly did.
Based on the experiences he has had over the years in the auction business, Jim guaranteed clear title to the gun, meaning that if there ever was a claim by the insurance company on Bo Whoop he would cover it. He was convinced that the company could only recoup the amount that they paid out, even if they were to have the old paperwork, and were to pursue it.
Last edited by Stan; 03/16/10 07:38 PM.
