HB506 Summary

• Allows consumers to recover the full purchase price plus a 10% penalty from dealers if a collectible item is sold as authentic but is proven not authentic, within three years of purchase.

• Defines "collectibles" to include autographed items (sold for $50+), entertainment media, historical artifacts, limited edition items, memorabilia, and sports items.

• Defines "dealer" as a person in the business of selling collectibles who has sold three or more in the preceding 12 months, excluding certain pawnbrokers and the person who autographed the item.

• Permits consumers to file civil actions and recover court costs, reasonable attorney's fees, interest, and expert witness fees in addition to the purchase price and penalty.

• Excludes from coverage collectibles purchased by barter or trade, and those sold between dealers.