Mecum Auctions, one of the world’s largest auction houses for collector cars and motorcycles, has been involved in a number of lawsuits over the years. One of the most high-profile lawsuits involved Ford Motor Company.
In 2017, Ford sued Mecum Auctions after the auction house sold a 2017 Ford GT supercar that was still under the two-year restriction on resale. Ford had a contract with GT buyers that prohibited them from selling the car for two years after purchase. This was an attempt to prevent speculation and keep the prices of GTs high.
Mecum argued that the contract between Ford and the GT buyer was not enforceable and that it had the right to sell the car. The lawsuit went to court, but it was eventually settled out of court. Under the terms of the settlement, Mecum agreed to pay Ford an undisclosed amount of money and to not auction any Ford GTs that are still under the two-year restriction on resale.
Another lawsuit involving Mecum Auctions was filed by a group of car collectors who alleged that the auction house had breached its contract with them. The collectors had consigned their cars to Mecum Auctions to be sold at auction. However, they claimed that Mecum had failed to properly market and sell their cars.
The lawsuit was eventually settled out of court. Under the terms of the settlement, Mecum agreed to pay the collectors an undisclosed amount of money.
Mecum Auctions has also been involved in a number of other lawsuits over the years. These lawsuits have involved a variety of issues, including breach of contract, fraud, and negligence.
Conclusion
Mecum Auctions is a large and well-respected auction house. However, it has been involved in a number of lawsuits over the years. These lawsuits have involved a variety of issues, including breach of contract, fraud, and negligence.
If you are considering consigning a car to Mecum Auctions, it is important to understand the risks involved. You should also carefully review the auction house’s terms and conditions before signing any agreements.
FAQs
Q: What is the most common type of lawsuit filed against Mecum Auctions?
A: The most common type of lawsuit filed against Mecum Auctions is a breach of contract lawsuit. This type of lawsuit is filed when a consignor or buyer alleges that Mecum has failed to uphold its contractual obligations.
Q: What are some of the other types of lawsuits that have been filed against Mecum Auctions?
A: Other types of lawsuits that have been filed against Mecum Auctions include fraud lawsuits, negligence lawsuits, and consumer protection lawsuits.
Q: What should I do if I am considering consigning a car to Mecum Auctions?
A: If you are considering consigning a car to Mecum Auctions, it is important to understand the risks involved. You should also carefully review the auction house’s terms and conditions before signing any agreements.
Q: What should I do if I have a complaint about Mecum Auctions?
A: If you have a complaint about Mecum Auctions, the first step is to contact the auction house directly and try to resolve the issue. If you are unable to resolve the issue with Mecum, you may want to consider filing a complaint with the Better Business Bureau or with your state’s attorney general’s office.
Q: Is it likely that I will win a lawsuit against Mecum Auctions?
A: The outcome of any lawsuit is uncertain. However, Mecum Auctions has been involved in a number of lawsuits over the years, and it has settled some of those cases out of court. This suggests that Mecum may be willing to settle lawsuits in order to avoid the risk of losing in court.
Q: Can I file a class action lawsuit against Mecum Auctions?
A: Yes, you may be able to file a class action lawsuit against Mecum Auctions if you have a claim that is common to a group of people. A class action lawsuit is a type of lawsuit in which a group of people with similar claims sue a defendant as a group.
