Heritage T206 Wagner Card at the National

[sports-rings]

It looks like the Wagner did not sell during Heritage's Platinum auction.

The card is now for sale at the Heritage website.

http://sports.ha.com/c/item.zx?saleNo=7037&lotNo=80042

Can someone please let me know what happened and how close the card came to the reserve if this is known?

Thanks!

[e107collector]

I last bid I remember seeing online was at $245K - around $292K with the bp. I'm not sure what the reserve was - maybe $300K?

Tony

[sycks22]

It's one of my buddy's. He said he's into it around 225

[bobbyw8469]

Sounds good. Is this just one of those cards that is ALWAYS going to go up??

[grundle20]

Pete, did you say you know the guy selling it? I was looking here http://www.beckett.com/news/2011/02/ever-wanted-a-t206-honus-wagner-it-can-be-yours-for-325000/ and noticed the same card. Did he have a Memory Lane change of heart?

[calvindog]

Didn't that card go for like half price at the Huggins and Scott auction a couple weeks ago? Who would be such an idiot to overpay for it two weeks later?

[Brendan]

Didn't that card go for like half price at the Huggins and Scott auction a couple weeks ago? Who would be such an idiot to overpay for it two weeks later?

A guy who's buying a T206 Wagner in the first place?

[sycks22]

He was talking about how he thought it'd go for a little more in the auction and the reserve saved him from taking a killing.

[calvindog]

But if he's in it for 225K and the last bid at Heritage was 245K pre-BP, how could he be killed on a sale?

[Exhibitman]

But if he's in it for 225K and the last bid at Heritage was 245K pre-BP, how could he be killed on a sale?

Now there you go being all mathematical and stuff. You lawyers, always letting the facts get in the way of a good story.

[Leon]

Now there you go being all mathematical and stuff. ...

I get the vision of Jethro Bodine......

[calvindog]

Now there you go being all mathematical and stuff. You lawyers, always letting the facts get in the way of a good story.

I know, hard to imagine that I'd actually be able to tell that 225K is less than 245K. I'm just thrilled that the failure to make 20K on a flip didn't kill the poor bastard.

[bobbyw8469]

I think everyone mishead. He didn't say "He didn't want to get killed"....He said "He wanted to make a killing". $20,000 after one months time is peanuts to some people.

[calvindog]

So you can be saved from making a lot of money?

[bobbyw8469]

Define alot.

[steve B]

Probably not much to some, but 20K would put a huge dent in my wantlist.

If it's not "a lot" good for you.

If it's "not much" really good for you! (And please send some pittance my way:D)

Steve B

[calvindog]

A quick 20K return is a lot for anyone, no matter the investor, when you consider that the return would be about 10% in a short period of time. Warren Buffet would think that's a good return. And Pete said that the seller thought it would go for just a little more in the auction. Doesn't sound like the Rockefeller who owned the card thought he was going to make much more money than he would have had it sold at the last price.

[calvindog]

Ok -- we've got it figured out. Pete was accurate in what he wrote. Heritage bid the hell out of the card up to the level right at the reserve -- to provide the imaginary scenario of the card being worth 242K, with the hope of someone being dumb enough to actually make the next bid, thus bypassing the reserve. No one did. Had the card actually sold for what the last real bid was, the seller, who was into the card for 225K, would have 'gotten killed.'

[Matthew H]

Maybe he borrowed money to buy the card and needs more then 245k to make good.

[FUBAR]

Greed is all that is.... making a mere 10% in one month.....

[calvindog]

Maybe he borrowed money to buy the card and needs more then 245k to make good.

No. He bought the card for 225K but without Heritage bidding the card up on its own, the last real bid would have been way below 225K. Now the owner has to fool someone else into buying a Frankenwagner.

[vintagecpa]

I'm curious, how does someone know that it is the auction house bidding up the card instead of a legitimate bidder?

[calvindog]

Because it says so in the Heritage rules. And Pete confirmed it by saying that if not for the reserve the seller would have gotten killed. Who would pay 292K for a Frankenwagner? Answer: no one.