MEARS permits its members to function as independent dealers of sports memorabilia within the following guidelines. These policies apply to other individuals who advertise their products on MEARS as well. Failure to comply with these provisions will result in the cancellation of advertising.

Code of Conduct When Selling

Description and disclosure: Dealers shall be responsible for the accurate identification and description of all material offered for sale. All defects, restorations and provenance should be clearly noted and made known to those to whom the material is offered or sold.

Disclosure when selling items authenticated and graded by a MEARS employee: Due to the unique relationship between the industries graders/authenticators, there will be instances where a dealer will also be employed by MEARS. In these instances, ownership will be clearly disclosed within the text of the advertisement and will clearly appear on the final letter of opinion issued. In all instances where a MEARS employee also sold the item, it will remain as permanent record, which will show photographic image and original description of the item. This is done in order to protect the public and to avoid misunderstandings.

Technical terms: Dealers should, as professionals, be conversant with and responsible for the correct use and interpretation of the technical terms of the trade.

Price: Dealers shall be responsible for the accurate and professional pricing of all material offered for sale, regardless of whether they are dealing with experts or amateurs.

Authenticity: Dealers shall vouch for and make every reasonable effort to substantiate the authenticity of all materials offered for sale. Should it be determined that such material is not authentic or is questionable, then it shall be returnable for a full cash refund, or on some other mutually agreed terms. Material shown to be not authentic, or of disputed or undetermined nature, shall not be offered for sale again unless all facts concerning it are clearly disclosed.

Stolen property: Dealers shall be responsible for passing to the buyer clear title to all material sold, and shall not knowingly purchase, hold or attempt to re-sell stolen material. They shall make all reasonable efforts to ensure that materials offered to them are the property of the seller. They shall make every effort to prevent the theft of memorabilia and related materials. They shall cooperate fully with law enforcement authorities to recover and return stolen material, and to apprehend those responsible.

Clear pricing: Dealers should ensure that all material offered for sale is clearly marked with the selling price. Material not for sale or being processed or reserved, should be appropriately segregated.

Misrepresentation of products: It is an unfair trade practice to misrepresent products as to quality, design, materials or provenance.

Disparagement of competitors' products: It is an unfair trade practice to falsely disparage the products or authenticity of competitors merchandise in any way.

Customer’s expectations: Dealers must not build unreasonable expectations about the future value in the mind of a potential client in order to secure a sale.

Confidentiality: A dealer shall not disclose any confidential client information without the client’s specific consent except as required by appropriate legal authorities.

Permanent record: In order to protect the public and to avoid misunderstandings, dealers shall create and retain a permanent photographic and written archive of the item description. These records will be stored at www.mearsonline.com.

Consignments: MEARS employees may also accept items on consignment. Since they will also be available for sale, these same policies apply. Consigned items will be identified as such in the listing of the item. The consignment process is an operational issue and will be detailed in a separate set of policies and procedures. No part of those policies or procedures can negate any of the applicable seller policies.

Code of Conduct When Buying

Disclosure: In all cases, it must be disclosed what the purpose of the purchase is on the part of the buyer as it has an impact on pricing. For example, an individual may not state this item is for their personal collection when in reality it was purchased with the intent of resale.

Pricing: Buyers agree to make competitive buying offers with respect to market value and profit margin. Buyer will allow owner time to ensure the seller has an opportunity to evaluate the market price. In no instances will collusion take place between individuals in order to control the buying price of items.

Representation: Buyers are prohibited from conveying information that would lead a seller to believe their item is not worth what they feel the market will bring. They are obligated to ensure the seller knows what they have and what the value of their item is with respect to various venues for sale:

At Auction To a Dealer To a Private Collector

Refunds: Since these buyers are to be considered informed and knowledgeable individuals, they are responsible for making informed purchase decisions. If after the sale, they find they were wrong about the item they bought and no refund can be obtained, they agree to either keep the item out of circulation, or if it is resold, they are obligated to disclose any and all issues they discovered about the item after the sale. Part of this disclosure must include the original price they paid for the item.

Grievances: In instances when there is an issue with a sale or purchase conducted by a MEARS employee, the employee agrees to work with the individual in order to reach a mutual agreeable resolution. In instances when this does not produce satisfactory results, the matter will be addressed by the Policy Director of MEARS. The findings by the Policy Director are binding for the MEARS employee. Should no satisfactory resolution be reached with the outside party, then the only form of recourse will be litigation (to be governed by the laws of Wisconsin). Due to the nature of the role, the Policy Director is prohibited from selling items via MEARS or from consigning items to an auction house that retains MEARS. This prohibition will remain in effect throughout the tenure of the Policy Director.

Indemnity: Buyers and sellers agree to indemnify and hold MEARS and their subsidiaries, affiliates, officers, directors, agents, and employees, harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of a user breach of these policies, MEARS user agreement or the documents incorporated by reference, or a user violation of any law or the rights of a third party. These policies shall be deemed to have been made in the State of Wisconsin, and shall be governed by the laws of the State of Wisconsin, exclusive of its rules governing choice of law and conflict of laws.

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