$200K Lawsuit Raises Alarm: Missing Sports Cards and Rolex Watches Spark Warning for Memorabilia Community

A San Antonio sports card collector has filed a $200,000 lawsuit against a memorabilia company, alleging the owner failed to return 600 sports cards and four Rolex watches consigned for sale. The collector hopes his case will raise awareness in the sports memorabilia community and prevent others from facing similar losses.

KSAT.com

In a lawsuit filed on July 23rd 2024, San Antonio sports card collector Jorge Olazabal is seeking over $200,000 from Rashad Aldridge, owner of Legends Only Sports Cards and Collectibles, for allegedly failing to return valuable items consigned for sale.

The lawsuit claims Aldridge did not return approximately 600 sports cards and four Rolex watches after agreeing to sell them on Olazabal’s behalf. The two parties initially connected when Olazabal reached out to Aldridge earlier in 2023, inquiring about acquiring memorabilia related to Victor Wembanyama, the San Antonio Spurs’ 2023 NBA Draft pick.

This interaction led to a consignment agreement where Aldridge was entrusted with Olazabal’s inventory, which included the cards and watches, to be sold at a card show in Dallas in March.

Following the Dallas card show, Aldridge informed Olazabal that none of the items had been sold. However, despite repeated attempts by Olazabal to retrieve his unsold items or receive payment, neither occurred. Olazabal mentioned that Aldridge had signed a legal document outlining the chain of custody for the 600 cards, which were stored in two locked cases.

After months of silence from Aldridge and no return of his property, Olazabal decided to take legal action which included both a civil lawsuit as well as a report of the incident to the Bexar County Sheriff’s Office, which has launched an investigation into the matter.

Olazabal suspects that Aldridge may have either sold the items or used the proceeds for personal business growth, contributing to the lack of communication and return of the consigned goods.

In response to the lawsuit, Aldridge released a statement (via KSAT 12 News San Antonio) expressing his commitment to resolving the situation amicably. He emphasized that Legends Only Sports Cards and Collectibles has long served the San Antonio collector community with integrity and that he is working closely with his legal counsel to address the matter. Aldridge reassured the public that his goal is to maintain the trust and reputation his business has built over the years. He expressed confidence in finding a resolution through legal guidance while continuing to uphold the standards of customer service that have contributed to his business’s success.

Olazabal’s motivation for filing the lawsuit extends beyond his personal losses. He aims to raise awareness within the collector community, cautioning others about the potential risks involved in consigning valuable items. He hopes that his experience will encourage other collectors who may have faced similar issues to come forward. While disappointed by the significant financial loss and the trust he placed in Aldridge, Olazabal hopes his case will prevent others from suffering the same fate.

For example, collectors and consigners should note that a clear chain of custody is crucial in the consignment process to ensure accountability and transparency when valuable items are entrusted to a third party for sale. An established chain of custody documents the transfer of ownership, outlining who is responsible for the items at every stage, which helps prevent disputes over missing or mishandled goods. Regular communication between the consignor and consignee is equally important to keep both parties informed of the sales process, item status, and any issues that may arise. Therefore, a combination of strong documentation and open dialogue is key to a successful consignment arrangement.