O/T: $3.7 Million O-Pee-Chee Hockey Card Case Still in Limbo

[4815162342]

This story is wild.

“He says if he can’t find a buyer, he’s considered giving the case away to a girl he met in grade school, a hockey fan who he believes was his ‘true soulmate.’”

https://www.sportscollectorsdaily.co...ot-fully-paid/

[G1911]

Originally Posted by 4815162342

“He says if he can’t find a buyer, he’s considered giving the case away to a girl he met in grade school, a hockey fan who he believes was his ‘true soulmate.’”

Can't get any more pathetic lol. Amazing

[D. Bergin]

Anybody think Heritage sent out a memo for all employees the next morning, imploring all communication with winning bidders to refrain from mentioning the feelings of the under-bidders?

[Republicaninmass]

Awfully curious commentary.

I need a "rich uncle"


The whole story stinks

[Gorditadogg]

A bad case of drunk-bidding.

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[doug.goodman]

Originally Posted by Gorditadogg

A bad case of drunk-bidding.

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Exactly

[ejharrington]

Pay your bills!

[4815162342]

Originally Posted by Gorditadogg

A bad case of drunk-bidding.

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Apparently he was drunk on… Red Bull?

“He said he chugged four Red Bull energy drinks to keep him "focused and sharp" in order to continue bidding competitively.”

https://www.cbc.ca/news/canada/saska...ards-1.7172349


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[Mark17]

Originally Posted by 4815162342

Apparently he was drunk on… Red Bull?

“He said he chugged four Red Bull energy drinks to keep him "focused and sharp" in order to continue bidding competitively.”

https://www.cbc.ca/news/canada/saska...ards-1.7172349


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That doesn't even make sense. He admitted in the other video that Heritage uses a 30-minute extended bidding timer, so all he needed to do was to log in 25 minutes after extended bidding began, become or verify he was high bidder, take a 25-minute cat nap, and repeat. He didn't need to be hopped up on caffeine, intently watching the minutes tick by.

[rjackson44]

Originally Posted by ejharrington

Pay your bills!

100 pct

[Exhibitman]

Another example of inexperienced money chasing a market high because there's no way that goes down. After all there are 20+ Gretzky rookies in there, so why wouldn't it be worth $150K a card sight unseen to grab it? It isn't like PSA 9's sell for less than that, or that PSA 8's are under $20K. Oh, wait, I just looked at the prices on PSA's site.

[Lorewalker]

Very strange situation that leaves with a 10:1 ratio of questions to answers...and sort of an odd guy or at least the interview was odd. If he paid the 3 million why has he not paid the balance and let HA know to hang on to the case until he can find it a new home?

He is willing to give it away to some chick who he knew at 7 who was his soulmate? It sounded like he has not had contact with her since he was 7...and the people he reached out to??? WTF!

If he is the only beneficiary of his uncle's estate and has 200 million in assets, if he keeps spending 4 million on each thing he knows nothing about and has no interest in, he will be broke very quickly.

[parkplace33]

A Heritage representative told SC Daily that it isn’t unusual for the company to still possess material from an auction several weeks after a sale as payment arrangements are made. He also said there are also occasions when the company will provide financing for purchases, “which could delay delivery.”

Huh?

[byrone]

Things are kinda crazy here in Canada, perhaps this is just representative of the state of our country

[ruth-gehrig]

Originally Posted by parkplace33

A Heritage representative told SC Daily that it isn’t unusual for the company to still possess material from an auction several weeks after a sale as payment arrangements are made. He also said there are also occasions when the company will provide financing for purchases, “which could delay delivery.”

Huh?

Probably in reference to Heritage offering a payment plan for qualified purchases although pretty sure that has to be arranged BEFORE the auction ends. I've never used it but have seen it advertised on their site.

[raulus]

Originally Posted by ruth-gehrig

Probably in reference to Heritage offering a payment plan for qualified purchases although pretty sure that has to be arranged BEFORE the auction ends. I've never used it but have seen it advertised on their site.

I think the other element is that sometimes (most of the time? all of the time?) the AH will hold onto the items until payment is completed, rather than delivering the item simply because someone has promised to pay in the future.

[rjackson44]

He says he was high in red bull lol ,,

[Republicaninmass]

Makes me wonder of the rep called to "check on" the buyer, and really hyped up how "sad" the underbidder was to make the high bidder feel "good" (not back out)... and it backfired.


Whole story stinks to high heaven

[4815162342]

$3.72 Million 1979-80 O-Pee-Chee Hockey Case Went Unpaid; Will Return to Auction

https://www.sportscollectorsdaily.co...rn-to-auction/

“In April, two months after the auction, buyer Jack Arshawsky told CBC Saskatchewan that he had paid $3 million of the $3.72 million but was hoping to find another buyer who was ‘more passionate’ about collecting to take it off his hands. He even indicated he was thinking about donating it to a girl he’d had a crush on years ago.

…

However, Heritage Director of Sports Chris Ivy told The Athletic that the auction house never received a payment of any kind from Arshawsky.

‘It’s just unfortunate that this gentleman participated and appears to have either no intention or didn’t have the ability to pay for it,’ Ivy told The Athletic, which first reported that the case was returning to auction.”

[Republicaninmass]

Foul (smelling) ball!

[parkplace33]

Originally Posted by 4815162342

$3.72 Million 1979-80 O-Pee-Chee Hockey Case Went Unpaid; Will Return to Auction

https://www.sportscollectorsdaily.co...rn-to-auction/

“In April, two months after the auction, buyer Jack Arshawsky told CBC Saskatchewan that he had paid $3 million of the $3.72 million but was hoping to find another buyer who was ‘more passionate’ about collecting to take it off his hands. He even indicated he was thinking about donating it to a girl he’d had a crush on years ago.

…

However, Heritage Director of Sports Chris Ivy told The Athletic that the auction house never received a payment of any kind from Arshawsky.

‘It’s just unfortunate that this gentleman participated and appears to have either no intention or didn’t have the ability to pay for it,’ Ivy told The Athletic, which first reported that the case was returning to auction.”

Shocking!

[calvindog]

The winner is a clown who has no money, obviously. If he had any real money, the consigner/Heritage would have sued him.

Heritage is rarely caught like this. I had a card for which I received an accepted "make an offer" price and before I even pulled the card out of my safe, I received an email from Heritage telling me they didn't believe the buyer was legit. A few minutes later they confirmed this for me and I never sent the card back to Heritage.

[Aquarian Sports Cards]

Originally Posted by calvindog

The winner is a clown who has no money, obviously. If he had any real money, the consigner/Heritage would have sued him.

Heritage is rarely caught like this. I had a card for which I received an accepted "make an offer" price and before I even pulled the card out of my safe, I received an email from Heritage telling me they didn't believe the buyer was legit. A few minutes later they confirmed this for me and I never sent the card back to Heritage.

Hard to believe they didn't vet him a little more thoroughly for a nearly 4 million dollar bid. No chance he's just a flake with money? I imagine the cost of going after him would have to be shared with the consignor, and then what's to guarantee he pays even if judgement is levied against him? Seems like potentially a ton more hassle and a lower profit than just re-selling it. I wonder if they reached out to underbidders and got shot down? Technically if offered to an underbidder you are supposed to remove ALL of the non-payer's bids since they weren't valid. so if it was only two guys bidding it up for a while, the correct offer to an underbidder may have also been unattractive to the consignor. I can't see this selling for anywhere near the same price a second time for all of these reasons, plus the bad publicity. So of course it will probably sell for more lol.

[calvindog]

He doesn't sound like a flake with money -- he sounds like a flake with no money. If he had money I feel comfortable that he'd have been sued by now. After all, the bid is a binding contract and he admits as much.

Heritage just let one slip through the cracks, I suspect.

[Aquarian Sports Cards]

Originally Posted by calvindog

He doesn't sound like a flake with money -- he sounds like a flake with no money. If he had money I feel comfortable that he'd have been sued by now. After all, the bid is a binding contract and he admits as much.

Heritage just let one slip through the cracks, I suspect.

Obviously you know more about the legal process than I do, though not as much as Travis of course, but unless they could also recover the litigation costs isn't suing him likely to net less than just reselling it? Of course there's the bad look/PR of letting a guy off the hook and inspiring others to copy him I guess.

[OhioLawyerF5]

They should have asked for proof of income before letting him bid. :cry:









I kid, I kid. I couldn't resist.

[BillyCoxDodgers3B]

Originally Posted by calvindog

He doesn't sound like a flake with money -- he sounds like a flake with no money. If he had money I feel comfortable that he'd have been sued by now. After all, the bid is a binding contract and he admits as much.

Heritage just let one slip through the cracks, I suspect.

As was relayed in news pieces, I have a recollection that it was mentioned he inherited money. Also, he was not American, so would that present further difficulties with the legal aspect? Perhaps, but that high a bill would be incentive for anyone to strongly attempt to collect on it regardless of complcations. Maybe the whole back story is contrived. Who knows?

[calvindog]

If the winning bidder is foreign, suing him probably isn’t worth it. But if he’s in the US and has identifiable assets, I’d sue his ass off and at least take some damages off him for his conduct.

[Republicaninmass]

Originally Posted by OhioLawyerF5

They should have asked for proof of income before letting him bid. :cry:









I kid, I kid. I couldn't resist.

Too Soon! I'm personally offended!

[Balticfox]

I just hope that the whole fiasco ends up costing both the bidder and Heritage serious money.

[BRoberts]

Originally Posted by Balticfox

I just hope that the whole fiasco ends up costing both the bidder and Heritage serious money.

Of course you do.

[Aquarian Sports Cards]

Originally Posted by calvindog

If the winning bidder is foreign, suing him probably isn’t worth it. But if he’s in the US and has identifiable assets, I’d sue his ass off and at least take some damages off him for his conduct.

OK I wasn't sure about recovering damages. That makes more sense to me. I would also imagine that Heritage has a clause in their terms and conditions assigning jurisdiction but that still might not help with a foreign buyer when it comes to collecting.

[ruth-gehrig]

Suppose this is the "highest priced unpaid for sports lot in auction history"?? He didnt care about hockey or cards he just wanted to claim this record lol

[BillyCoxDodgers3B]

Yes, he's Canadian.