T206 Wagner reoffered???

[whiteymet]

Hey all

For those of you unaware, Phillies pitcher Pat Neshak is a card/autograph collector. He JUST finished pitching a scoreless inning in the All Star game.

In today's Philadelphia Inquirer there was an article about him in which it says he was the underbidder on the recent T206 Wagner that was in the Memory Lane auction that sold for $600,000.

You can read the entire article here:http://www.philly.com/philly/sports/...-20170710.html

But here is the pertinent info:

Neshek the collector

Neshek hopes to leave the All-Star Game with an autograph from Zack Greinke, one of the players he has had trouble scoring a signature from. If Neshek comes up short, it will be the second time this year that the avid collector is left disappointed when trying to secure an elusive piece of memorabilia.

Neshek was the runner-up earlier this year for a 1909 T206 Honus Wagner card, perhaps the most famous baseball card in history. The winning bid was $600,000. Neshek’s bid was $10,000 less.

“I came really close and it was a really crappy one. It was graded a ‘one,’ ” Neshek said. “I got called after and was like ‘Hey, do you want to pay this for it?’ ‘Nope.’ ”

Greinke, a historically tough autograph to find, was not at Monday afternoon’s All-Star Media Day so Neshek didn’t have a chance to ask him. Neshek planned to hunt him down during the Home Run Derby. He tried to land Greinke’s signature last month when the Diamondbacks visited by sending over cards with a clubhouse attendant, a routine Neshek does with almost every visiting team. The request was denied.

“I feel like it’s going to go ‘Hey, why don’t you sign for me?’ ‘Because I don’t want to sign.’ ‘OK. Bye,’ ” Neshek said.

The line that caught my eye was he said he got a call AFTER and was asked if he wanted to buy it for a certain price. He declined.

My question is, is this a common occurance where an auction company reaches out to an underbidder to reoffer a lot at a higher price?

I have to assume it was the auction company who called him as the winning bidder would not know who the underbidder was.

Thoughts?

[bnorth]

Maybe it has something to do with their "I own it now" program.

[whiteymet]

Originally Posted by bnorth

Maybe it has something to do with their "I own it now" program.

Ben:

I am not familiar with their I own it now program. Do you know how it works? I just checked their website and clicked on I own it now and all that it said was:

Look for our next Sale in the Summer!

[bnorth]

Originally Posted by whiteymet

Ben:

I am not familiar with their I own it now program. Do you know how it works? I just checked their website and clicked on I own it now and all that it said was:

Look for our next Sale in the Summer!

I have never used it but this is my understanding from people that have. After the auction is over the owner of the card/item basically consigns it to Memory Lane. Then they(ML) try to sell it for more then the new owner paid for it. They also do it with items that do not get a bid.

[whiteymet]

Originally Posted by bnorth

I have never used it but this is my understanding from people that have. After the auction is over the owner of the card/item basically consigns it to Memory Lane. Then they(ML) try to sell it for more then the new owner paid for it. They also do it with items that do not get a bid.

Gotcha!

Funny though, if Neshek was offered the card and turned it down why wouldn't it be listed on their site? Unless they sold it.

If it is a program as you describe, I am also surprised there are NO items offered

[KMayUSA6060]

Side note: Neshek is awesome. He tweeted his address for people to send cards to for through-the-mail autos.

[nat]

By the end of this season Neshek will have earned $23m playing baseball.

Say that he looses half of that to taxes and agents. He's down to $11.5m. So he bid about 5% of his net life-time earnings on that card. Anyone here ever bid 5% of their net life-time earnings on a single card?

Of course I suspect that he bid far more than 5% of the cash that he's got on-hand. If he's anything like most young people who suddenly come into money, a considerable part of that $11.5m was probably spent on fast cars and the like.

Now that I think of it, somebody should take him up on that twitter thing, get an auto, and ask him what his monster number is.

[trdcrdkid]

Here is an article from the Wall Street Journal about Neshek's collection that I posted a couple of months ago:

http://net54baseball.com/showthread.php?t=239976

[darwinbulldog]

Originally Posted by nat

By the end of this season Neshek will have earned $23m playing baseball.

Say that he looses half of that to taxes and agents. He's down to $11.5m. So he bid about 5% of his net life-time earnings on that card. Anyone here ever bid 5% of their net life-time earnings on a single card?

Of course I suspect that he bid far more than 5% of the cash that he's got on-hand. If he's anything like most young people who suddenly come into money, a considerable part of that $11.5m was probably spent on fast cars and the like.

Now that I think of it, somebody should take him up on that twitter thing, get an auto, and ask him what his monster number is.

Can't say that I have, but I'm certain I would have in his financial situation.

[bobbyw8469]

The Memory Lane phone call is odd....if he wanted the card, he would have bid more during the auction. Odd that he got a call asking if he wanted to pay substantially more. I would have laughed if they had called me......

[Griffins]

I think a lot of us have woken up the next morning after an auction and realized we should've bid more, or just missed the end of the auction. I know I've done both.
A few years ago a friend was the underbidder on a big dollar card in a high profile auction, and was offered it by the auction house for his top bid a week later. As the story goes the high bidder reneged, but the auction house went after the high bidder and recovered the difference between my friends bid and the high bidders.

[bobbyw8469]

Originally Posted by Griffins

I think a lot of us have woken up the next morning after an auction and realized we should've bid more, or just missed the end of the auction. I know I've done both.
A few years ago a friend was the underbidder on a big dollar card in a high profile auction, and was offered it by the auction house for his top bid a week later. As the story goes the high bidder reneged, but the auction house went after the high bidder and recovered the difference between my friends bid and the high bidders.

That would leave a salty taste in my mouth. Technically, he was bidding against a ghost. It should have been offered for one bid above the last legitimate bidder.

[botn]

Opportunity or not, 2nd chance offers from an auction house the next morning would leave me uneasy, at the very least. Also it is unclear if he was being offered the card for his high bid or for more than the card had sold. The whole thing is odd.

Neshek also refers to the card being a 1. The example in ML earlier this year that sold for 600K was graded a 2 however it should have been a 1 but that is consistent with PSA's inclination to seriously over grade or look the other way on a T206 Wagner.

[x2drich2000]

Originally Posted by Griffins

I think a lot of us have woken up the next morning after an auction and realized we should've bid more, or just missed the end of the auction. I know I've done both.
A few years ago a friend was the underbidder on a big dollar card in a high profile auction, and was offered it by the auction house for his top bid a week later. As the story goes the high bidder reneged, but the auction house went after the high bidder and recovered the difference between my friends bid and the high bidders.

Exactly my thoughts as well. I know I've both regretted not bidding more during an auction and have been offered (and I accepted) a card at my top bid from the auction house about a week after the auction ended, and this wasn't really a high dollar card for this particular auction house.

I could also see the winning bidder immediately trying to flip the card. If Neshek had accepted the offer (whatever it was), the winning bidder would have made several thousand without ever having to actual pay for or take possession of the card.

I don't believe The Own It Now is offered continuously. I believe it is more of a set sale period. I know I've gotten catalogs for these sales and I believe they also start on a specific day and end on a specific day (if the card doesn't sell). My guess this was more of a 1 off with the auction house just acting as a broker for a private sale for the winning bidder.

DJ

[puckpaul]

Who pays that for that card and wants to flip it the next day? Makes you question the authenticity of that bid. Keep that in mind on Memory Lane.

[whitehse]

Originally Posted by nat

By the end of this season Neshek will have earned $23m playing baseball.

Say that he looses half of that to taxes and agents. He's down to $11.5m. So he bid about 5% of his net life-time earnings on that card. Anyone here ever bid 5% of their net life-time earnings on a single card?

Of course I suspect that he bid far more than 5% of the cash that he's got on-hand. If he's anything like most young people who suddenly come into money, a considerable part of that $11.5m was probably spent on fast cars and the like.

Now that I think of it, somebody should take him up on that twitter thing, get an auto, and ask him what his monster number is.

When I worked in MLB the players received about 85K per year as part of the licensing agreement with the Players association. Now I worked in MLB nearly 30 years ago and I have zero doubt the players cut of the licensing is considerably higher per year than the 85K. Add into the fact that they are paid to wear shoes and equipment and receive money from various other outlets, more than likely this might be his "extra" money from these endorsements he is using to purchase the Wagner. These guys make way more money besides their yearly salary!

[clydepepper]

Makes me glad I don't have any of these 'rich person' problems.

The 1% or even the 5% can have all that!




.

[oldjudge]

I believe the PSA 1 was in SCP, not Memory Lane.

[MattyC]

Originally Posted by botn

Opportunity or not, 2nd chance offers from an auction house the next morning would leave me uneasy, at the very least.

100% agree. Smells like the house or owner was trying to push it up, and was left holding the card.

[MattyC]

Originally Posted by nat

By the end of this season Neshek will have earned $23m playing baseball.

Say that he looses half of that to taxes and agents. He's down to $11.5m. So he bid about 5% of his net life-time earnings on that card. Anyone here ever bid 5% of their net life-time earnings on a single card?

Of course I suspect that he bid far more than 5% of the cash that he's got on-hand. If he's anything like most young people who suddenly come into money, a considerable part of that $11.5m was probably spent on fast cars and the like.

Now that I think of it, somebody should take him up on that twitter thing, get an auto, and ask him what his monster number is.

So you know how all his investments have panned out?

Besides, the guy can spend however much of his money however the hell he wants. He earned it.

[Duluth Eskimo]

Pat Neshek is an incredibly nice guy and one of the very rare good guys who made it and didn't forget where their roots or interests are. He's not some "investor", he's a collector. A lot of one than most of the clowns that bid on those high dollar items.

When he was with the Twins he used to regularly shop the floor at Twinsfest and was involved in regular guy collector conversations with regular guys. A total class act.

To talk down about him shows how jealous you are of his success and his ability to take a run at the Wagner. The guy has probably wanted one since he was about 10 years old. Get a clue.

[nat]

I think there's some misunderstanding going on here. I was just impressed that someone would bid that much of their total life earnings on a card, I certainly wasn't trying to denigrate him. Indeed, I suggested that we ask him what his monster number is. Frank's thread needs another entry.

[Snapolit1]

Originally Posted by bobbyw8469

The Memory Lane phone call is odd....if he wanted the card, he would have bid more during the auction. Odd that he got a call asking if he wanted to pay substantially more. I would have laughed if they had called me......

I had that happen to me once and I think it was Memory Lane. About a photo. Was sometime after the auction and I assume the winner refused to pay for some reason.

[darwinbulldog]

I refused to pay an auction house one time when it became clear that the image of "Jack Glasscock" they were auctioning off was actually a picture of just some guy. Maybe they offered it to the underbidder. Or not. But it wouldn't surprise me.

[savedfrommyspokes]

Originally Posted by nat

By the end of this season Neshek will have earned $23m playing baseball.

Say that he looses half of that to taxes and agents. He's down to $11.5m. So he bid about 5% of his net life-time earnings on that card. Anyone here ever bid 5% of their net life-time earnings on a single card?

Of course I suspect that he bid far more than 5% of the cash that he's got on-hand. If he's anything like most young people who suddenly come into money, a considerable part of that $11.5m was probably spent on fast cars and the like.

Now that I think of it, somebody should take him up on that twitter thing, get an auto, and ask him what his monster number is.

A starter in this year's All star game lives (in the off season) about 3 miles down the road from me. He lives in a very modest home in a modest neighborhood. Once he finishes next season, he will have earned as much as
Neshek has in his career. By most standards, this player lives quite frugally for the amount of money he earns....there are many more expensive places to live in our area. This means that he can afford to buy such a card if he wanted to and still have plenty of money left over due to his frugal lifestyle. For me, to spend 5% of my lifetime earnings would be impossible to manage, but for someone who has earned $20M+ and lives frugally, there is no reason they could not afford to spend 5% of their lifetime earnings (on something that will appreciate in value).

[bobbyw8469]

Originally Posted by Snapolit1

I had that happen to me once and I think it was Memory Lane. About a photo. Was sometime after the auction and I assume the winner refused to pay for some reason.

And did you take the bait or did you tell them to kick sand?