NonSports Forum

Net54baseball.com
Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for Buying, Selling and Trading - the B/S/T area!! If you give an opinion of a person or company your full name needs to be in your post. Contact the moderator at leon@net54baseball.com should you have any questions or concerns. Enjoy!
Net54baseball.com
Net54baseball.com

Go Back   Net54baseball.com Forums > Net54baseball Main Forum - WWII & Older Baseball Cards > Net54baseball Sports (Primarily) Vintage Memorabilia Forum incl. Game Used

Reply
 
Thread Tools Display Modes
  #1  
Old 03-31-2011, 12:25 PM
Matt Matt is offline
Matt Wieder
member
 
Join Date: Apr 2009
Location: Cleveland, OH
Posts: 2,357
Default Gehrig Jersey in REA

Interesting information on the 1938 Gehrig Jersey in REA:
http://blog.robertedwardauctions.com/?p=399

Quote:
It was then graded A7 by Troy Kinunen, with A7 being the average grade of A9 and A5. It is now graded A7.
Quote:
Troy R. Kinunen agrees to purchase the 1938 Lou Gehrig jersey for the purchase price of $240,000 from [CONSIGNOR’S NAME REDACTED] on behalf of a third party.

I must admit I am confused as the letter included at the top of the post, seems to indicate the jersey has already been sold to a 3rd party and I don't see where it says that 3rd party is now the consignor of record to REA. I'm also confused about if Kinunen is the consignor of the lot, how he was the one providing the A7 grade to the jersey.
__________________
To send me a Private Message, click here.
Please check out my albums.

Last edited by Matt; 03-31-2011 at 12:30 PM.
Reply With Quote
  #2  
Old 03-31-2011, 01:06 PM
scmavl's Avatar
scmavl scmavl is offline
Jarrod
Member
 
Join Date: Sep 2010
Location: NC
Posts: 1,179
Default

While I admittedly know little about auctions, is it saying that he will buy it for $240,000 unless bidding goes higher?
Reply With Quote
  #3  
Old 03-31-2011, 02:47 PM
MEARSAUCTIONS MEARSAUCTIONS is offline
member
 
Join Date: Jul 2010
Posts: 61
Default Gehrig jersey

The 1938 Lou Gehrig jersey was purchased by the original consignor several years ago with a MEARS A9 grade.

For the 2011 Spring REA auction, the consignor decided to consign the jersey to REA.

As is our practice, I requested to review the jersey on behalf of REA auctions. The review was completed by MEARS evaluator Dave Grob.

Upon his review, which was the first time he inspected the jersey, his original opinion was to issue the grade MEARS A5.

Although members of the MEARS staff have given grades that differ in the past, historically only by 1/2 or one point, this was the first instance such a wide difference occurred.

I made the final decision to include both opinions, (Bushing 9, Grob 5), average the grade, and provide both opinions in the final letter.

Since the consignor originally bought the jersey as a 9, he felt he had exposure since the jersey was being sold as a 7.

The letter that Rob Lifson posted on REA's blog was the document I offered the consignor taking full responsibility for the sale.

Currently, the jersey is still consigned under the original consignors name/contract, but due to the descrepancy of the grade, I am now responsible for the sale, (loss or profit) of the jersey in a second contract between myself and consignor.

REA auctions just wanted to bring that information to light so that all potential bidders were aware of all facts.

Regards,

Troy R. Kinunen/MEARS

Last edited by MEARSAUCTIONS; 03-31-2011 at 02:49 PM.
Reply With Quote
  #4  
Old 03-31-2011, 03:17 PM
Matt Matt is offline
Matt Wieder
member
 
Join Date: Apr 2009
Location: Cleveland, OH
Posts: 2,357
Default

Still confused. Say the jersey sells at auction for $180k. Then, even though it was hammered to a winning bidder, you then buy it from the consignor at $240k and give it to the winning bidder? I guess the legal implications here of when the title changes hands is what has me confused. I understand what you are trying to do in principle and I solute REA for putting the cards on the table here.
__________________
To send me a Private Message, click here.
Please check out my albums.
Reply With Quote
  #5  
Old 03-31-2011, 03:52 PM
D. Bergin's Avatar
D. Bergin D. Bergin is offline
Dave
Member
 
Join Date: May 2009
Location: CT
Posts: 3,420
Default

Are there that many 1938 Lou Gehrig jerseys out there, that it matters whether it's an A5, and A7 or an A9?

Or not being familiar with this part of the hobby.........does the grading have more to do with the taggings and the provenence, then whether or not Lou (or said consignor) slid into 2nd base with the uniform on?
Reply With Quote
  #6  
Old 03-31-2011, 07:41 PM
Shoeless Moe Shoeless Moe is offline
Paul Gruszka aka P Diddy G, Soup Can, Leon's Favorite
Pa.ul Grus.zka
 
Join Date: Jul 2010
Location: Over by there
Posts: 2,705
Default

Quote:
Originally Posted by D. Bergin View Post
Are there that many 1938 Lou Gehrig jerseys out there, that it matters whether it's an A5, and A7 or an A9?

Or not being familiar with this part of the hobby.........does the grading have more to do with the taggings and the provenence, then whether or not Lou (or said consignor) slid into 2nd base with the uniform on?
I was thinking the exact same thing. Does a buyer, who has that kind of dough, really think of this is a A5 not an A8, who cares? It's a friggin' Lou Gehrig jersey. What are they gonna do, pass becuz of a grade, and wait around for an A7???

I too am confused by what Troy is saying by taking responsibility for it, what exactly does that mean? And if it means Troy promised the consigner a certain $ amount and then Troy gets more or less depending on the sale that sounds like what it is, he owns the jersey. Right?
Reply With Quote
  #7  
Old 03-31-2011, 08:04 PM
MEARSAUCTIONS MEARSAUCTIONS is offline
member
 
Join Date: Jul 2010
Posts: 61
Default Lou Gehrig

The auction contract remains in the original consignors name. The consignor, due to the change of grade from A9 to A7, wanted to be protected from any loss that might occur due to the grade change.

In this instance I agreed to accept any and all responsibilty in the final sale price. This second agreement was between the consignor and myself, to protect him from any potential loss.

I haven't purchased the jersey or exchanged money. The final selling price will determine if any monies is owed by myself to the consignor.

The jersey will sell in the REA auction, the high bidder will get the jersey at the final selling price.

Any shortfalls will be paid by myself to the consignor, and profits will be paid by the consignor to myself, thus the secondary contract/agreement.

Regards, Troy R. Kinunen/MEARS
Reply With Quote
  #8  
Old 04-01-2011, 09:06 AM
Shoeless Moe Shoeless Moe is offline
Paul Gruszka aka P Diddy G, Soup Can, Leon's Favorite
Pa.ul Grus.zka
 
Join Date: Jul 2010
Location: Over by there
Posts: 2,705
Default

So what happens if it doesn't sell?
Reply With Quote
  #9  
Old 04-01-2011, 09:15 AM
terjung's Avatar
terjung terjung is offline
Brian T.
Member
 
Join Date: Apr 2009
Location: Florida
Posts: 863
Default

Quote:
Originally Posted by Shoeless Moe View Post
So what happens if it doesn't sell?
It has a starting bid (and reserve) of $50,000. Given the (relatively) low number compared to its last sale, I think it is a pretty safe bet that someone will bid at least $50k on it.

Kudos to both REA and MEARS for full disclosure and taking responsibility, respectively. (As an aside, I wish all the items that I have consigned had a guarantee against loss of value! That would be very cool indeed.)

Last edited by terjung; 04-01-2011 at 09:19 AM. Reason: typo
Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Pawn Stars--Lou Gehrig Jersey Orioles1954 Net54baseball Sports (Primarily) Vintage Memorabilia Forum incl. Game Used 13 03-09-2010 01:32 PM
Fake Gehrig Signed Jersey on Pawnstars canjond Net54baseball Sports (Primarily) Vintage Memorabilia Forum incl. Game Used 0 03-08-2010 11:01 PM
ca. 1927 Tabacalera La Morena Ruth & Gehrig card Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 4 05-27-2008 10:08 AM
REA - Pittsburgh Federal League Jersey Archive Net54baseball Sports (Primarily) Vintage Memorabilia Forum incl. Game Used 48 05-12-2008 04:02 PM
REA Policies Re: Alterations etc Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 9 11-27-2006 02:04 PM


All times are GMT -5. The time now is 02:28 PM.


ebay GSB