While sitting here at the Vegas antique gun show, I don't recall the specific details of this transaction, nor do I remember which ring it is. I do know I was one of the dealers in question. Let me state a few facts:
1) The ring market is depressed, with a few exceptions (high-personality pieces, stone mint pieces, etc).
2) I am partners with nobody, but do business with a LOT of dealers in this field, and am "friends" with many.
3) When approached, I make offers based upon a number of factors, including market conditions, my current inventory, other buying opportunities, etc.
4) Panic sales rarely result in high realized prices. 60 cents on the dollar is hard to take, but it happens frequently.
5) I do a lot of trading with dealers regularly, but there is no conspiracy here.
I will be glad to talk with Mr. Sellick at SOS privately, but will not participate in an online spectacle debate. I DO believe that I offered him consignment as an option, at a more favorable rate than normal. I'm sure Tom can confirm what I offered with his email records, which he's welcome to bring to SOS.
