More info on that Babe Ruth contract

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Posted By: steve k

CNN Link:

http://money.cnn.com/2004/11/06/news/newsmakers/ruth_ebay/index.htm?cnn=yes

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Posted By: hankron

Curious that Money magazine, of all places, doesn't realize that a sale isn't a sale until the money is exchanged.

When Tom Clancy backed out at the last minute of buying the Minnesota Vikings, the Vikings owner said that it didn't faze him one bit. He said that in his years of big business he regularly saw individuals who were big and confident and headline grabbing during negotiations over a primo item, then backed out of the deal as soon as it dawned on them that they would actually have to pay the big money.

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Posted By: sevenab

Read some of the stuff on this google search


http://groups.google.com/groups?q=Alan%20Shawn%20Feinstein%20&hl=en&lr=&sa=N&tab=wg

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Posted By: ramram

If this auction is legit, what kind of fool would post such a poorly detailed auction as this. It's got to be the most abbreviated information for a high-dollar auction that there has ever been. Nobody is taking it too serious. Look at the list of bid cancellations. The winner will likely be someone who never takes the auction seriously or bid cancellations will drop the auction back down to a reasonable price.

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Posted By: sevenab

He is a well known crook in the Stamp industry.
I will post any more info I find.

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Posted By: leon

the high bidder is currently in the US Air Force......wow...they get paid better than I thought........maybe I need to enlist.....

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Posted By: sevenab

From all the stuff I have read about this guy he is one of those collectible investment scammers. He has a lot of people fooled.

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Posted By: Geno

Leon, I'm in the USAF and I can assure you your tax dollars aren't being squandered on spoiling us! We aren't doing too bad I guess, if you don't count the parts when we're getting shot at...

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Posted By: leon

as an ex-Marine, and with a brother and brother-in-law as lifers, I know the pay ain't that great....You guys do a hell of job....I was being sarcastic, obviously....I think this whole darn aucion smells funny though....but then I thought the Herpolsheimer E121 cards were bogus too...( I have one on the way to inspect) .....regards

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Posted By: ramram

Starting to look like a stock market crash. Ruth's "contract" is down to $470,000 now.

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Posted By: Tim Mayer

I would bet it's bad,,,but how cool would it be if the airforce guy was buying it for a group of guys overseas who pooled their cash togther,,,or some cool story like that...that would be sweet,,,of course it would need to be real to be a good story,,,

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Posted By: Chris

http://msn.foxsports.com/story/3151176

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Posted By: jay behrens

Whoever wrote that article for Fox better learn how to count. The Sox won only 5 titles, not 6 before hsipping off Ruth.

Jay

I saw weird stuff in that place last night. Weird, strange, sick, twisted, eerie, godless, evil stuff. And I want in.

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Posted By: hankron

My feeling is that the way the contract was presented (to start, Ruth's signature wasn't pictured or even mentioned), I don't see how any of the expensive bids were legitimate unless the bidder was well familiar with the seller.

Maybe I'm being dumb, but how is this contract supposed to be worth $1 million, anyway?

Third, was the owner of the '$800,000' Barry Bonds HR ball actually paid? That price seemed Ruth contract-esque, considering that Bonds' single season record HR ball went for a fraction of that price at MastroNet, and there may be more than 20 members of the 700HR club in the not so distant future.

Last, even when the price is paid, when a person with way more money than brains pays $1 million for a piece of memorabilia, does make the piece of memorabilia worth $1 million?

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Posted By: hankron

I should add that the 'more money than brains' syndrome should be a tecnhical term in collecting. When asked about an exceedlingly high final price in a MastroNet or similar auction, I will often say, "that's a case of a bidder having more money than brains."