“Mastro Auctions, responsible for the sale of over $250 million in sales since its inception in 1996, has ceased operations.
“The suburban Chicago company’s assets have been taken over by a newly formed sports and Americana auction house, headed by former Mastro President and Chief Operating Officer Doug Allen, Vice President Ron Oser and Logistics and Auction Manager Mark Theotikos. The new company will be called Legendary Auctions.
“Long-time collector/dealer Bill Mastro, who started Mastro Auctions in 1996 and served as Chairman and CEO, is leaving the hobby, according to a press release issued Tuesday night on behalf of Legendary Auctions.
“‘Circumstances make it clear to me that the business needs to move in a different direction at this time,’ Mastro stated in the release. ‘Legendary Auctions is a positive step that allows everyone to be taken care of, especially our customers who have been so loyal. I am looking forward to taking some time off for now, and wish Legendary Auctions only the best as they move forward.'” (more @ Sports Collectors Daily)
Legendary Auction‘s Press Release announcing the acquisition of Mastro Auctions can be found here.
Related: Is the Sports Collectibles Industry (or Mastro Auctions) on the Ropes?
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