explain this bid history please

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Posted By: cmoking

Can anyone explain the bid history on this card?

Memory Lane September 2007 Lot 1: 1933 Goudey Lou Gehrig PSA 10

AMOUNT DATE PLACED AUTOBID BIDDER
$234,000.00 9/16/2007 5:03:32 AM ID Private
$210,000.00 9/16/2007 2:04:13 AM ID Private
$190,000.00 9/16/2007 2:03:51 AM ID Private
$189,500.00 9/16/2007 2:03:51 AM ID Private
$188,500.00 9/16/2007 12:32:12 AM ID Private
$187,500.00 9/16/2007 12:25:32 AM ID Private
$186,500.00 9/15/2007 11:25:41 PM ID Private
$175,500.00 9/15/2007 11:24:57 PM ID Private
$175,000.00 9/15/2007 11:24:57 PM ID Private
$167,000.00 9/15/2007 11:24:28 PM ID Private
$166,500.00 9/15/2007 11:24:28 PM ID Private
$165,500.00 9/15/2007 11:24:07 PM ID Private

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Posted By: Jeff Lichtman

I dunno -- maybe JP decided that he needed to buy a new car at around 5 am?

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Posted By: barrysloate

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Posted By: Rand Brotman

be nice to see an IRS audit on these guys, or maybe a shill sting operation similiar to the Sotheby/Christie deal.

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Posted By: Jeff Lichtman

JP's excuses:

1) the older guy made me do it;

2) I'm just a kid;

3) the sun was in my eyes;

4) the dog ate the bidding records;

5) I promise after this time I'll be a new man.

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Posted By: Rand Brotman

AMOUNT DATE PLACED AUTOBID BIDDER
$81,000.00 9/16/2007 4:17:51 AM ID Private
$79,000.00 9/16/2007 1:18:07 AM ID Private
$77,000.00 9/16/2007 1:05:52 AM ID Private
$76,000.00 9/15/2007 5:53:40 PM ID Private
$72,000.00 9/15/2007 5:53:20 PM ID Private
$71,500.00 9/15/2007 5:53:20 PM ID Private
$70,500.00 9/15/2007 5:52:44 PM ID Private
$69,000.00 9/15/2007 5:52:44 PM ID Private
$68,000.00 9/15/2007 3:40:54 PM ID Private
$66,500.00 9/15/2007 3:40:54 PM ID Private
$65,500.00 9/15/2007 12:09:08 AM ID Private
$60,000.00 9/15/2007 12:09:08 AM ID Private
$59,000.00 9/15/2007 12:08:41 AM ID Private
$58,500.00 9/15/2007 12:08:41 AM ID Private
$57,500.00 9/15/2007 12:08:17 AM ID Private
$52,000.00 9/15/2007 12:08:17 AM ID Private
$51,000.00 9/14/2007 7:34:08 PM ID Private
$50,000.00 9/14/2007 2:59:31 PM ID Private
$45,000.00 9/13/2007 1:46:14 PM ID Private
$45,000.00 9/13/2007 1:46:14 PM ID Private
$44,000.00 9/5/2007 7:58:44 AM ID Private
$43,500.00 9/5/2007 7:58:44 AM ID Private
$42,500.00 9/4/2007 4:58:52 PM ID Private
$42,000.00 9/4/2007 4:58:52 PM ID Private
$41,000.00 9/4/2007 4:54:46 PM

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Posted By: Tim Newcomb

For those of us who are "slow," can you guys explain exactly what seems to be going on in these bid histories? If it's as problematic as you're implying (which I don't doubt), it should be clearly described so the rest f us can make sense of Memory Lane's practices....

Tim

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Posted By: Frank Evanov

Their terms state:

4) Bidding increases will be accepted in increments of 10% above the current high. There are no exceptions to the bid raise amounts.

Yet, several of those bids are for $1,000 or $2,000 instead of 10%???

Frank

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Posted By: rand brotman

the thing that's weird about the bidding is the actual time the last bid was placed..3 hours after the last one, the auction is supposed to stop if no bids are recieved for 15 minutes. did it really go on for hours with bids?

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Posted By: jay wolt

"3 hours after the last one, the auction is supposed to stop if no bids are recieved for 15 minutes."

Their rules are not 15 minutes per lot, rather if ANY bid
is placed in any of their lots, it shoots up all lots for another
15 minutes. The auction must have run all night.

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Posted By: Marc S.

That Charlie placed on his Gehrig card...that at the last moment, the "winning" bidder elected to meet?