Thoughts on this 1925 Gehrig

[Leon]

Originally Posted by Snapolit1

Even a side from lower right corner, this is the rare card that lost a lot of eye appeal in the new SGC slab.

Seller is fortunate SGC gave him the same grade.

Personally, it's not the slab for me. That bottom right corner is much worse in the new holder. If I were paying 100k for a card, which isn't super rare, I would look at that unfavorably. If it was super rare, that would be another story.
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[darwinbulldog]

That seems on par for the typical drop in prices across the market since 2022.

[cgjackson222]

Originally Posted by darwinbulldog

That seems on par for the typical drop in prices across the market since 2022.

Most of the other prices from the same Heritage Auction were quite strong.

[mrreality68]

Originally Posted by cgjackson222

Most of the other prices from the same Heritage Auction were quite strong.

Yes and the Joe Jackson prices were extremely strong for the 2 Blankets and the Pennant

[raulus]

I'll go a little contrarian here and suggest that the problem was the reserve. For some reason, when there's a reserve, it spooks bidders, sometimes in major ways. It destroys the flow of the auction. It disrupts those animal spirits with everyone trying to out-stupid each other. That big jump throws people off. All of a sudden, they sit back, reflect, and start to wonder if it's really a good idea to bid that much.

For example, I remember last year there was a nice 1952 Bowman PSA 9 Mays up for auction. The bidding was fast and furious, and got up to $100k or so (plus the juice, natch). A couple of days before the auction closed, the reserve kicked in, and jumped the next required bid up to $200k ($240k with the juice).

At that point, the entire dynamic of the auction changed. Nobody bid on it again. It had been going fast and furious, people bidding left and right. I bet if the reserve had not kicked in, it would have easily sold for more than $200k. But when that reserve kicked in, it probably confused some bidders, and spooked the rest. So it didn't sell, because no one touched it after the reserve kicked in.

A couple months later, the same card comes up at the same auction house. Not just the same grade. The exact same card. I'm thinking that maybe I can score a bargain. This time, no reserve.

Care to guess what happens? People go nuts. No reserve holding anyone back. In the last couple of days, it doubles, and then doubles again. With the juice, it goes for $444k.

Now, you could argue that the difference of a month or two might have made a difference. Since we're talking about late 2021 and early 2022, I would posit that any difference wouldn't be gigantic. Certainly not $200k worth.

For my money, having (or not having) a reserve made all the difference.

If you want to see the card, here's the auction listing where it sold:

https://sports.ha.com/itm/baseball/1...ription-071515

[charlietheexterminator]

Right now it’s a buyers market. In the recent REA auction, there were numerous cards that went way below what they went for just a few months ago. So, Buy Buy Buy

[Rhotchkiss]

Nicolo, I think you may be on to something. I did not consider the reserve when I started the thread. I thought the market, over-graded, the flip, the auction house (although I would put this card in Heritage every day over PWCC, which is very modern heavy). But I did not consider the reserve. Great Point!


Al C of LOTG is on record time and again stating that reserves inhibit bidding and lots often do worse when there is a reserve. I would love to hear from other AHs about this. Also, in my personal experience, I have purchased two large items that had a reserve -- I paid the reserve price, nothing more, and I felt I got a great deal on both.

[Aquarian Sports Cards]

Originally Posted by raulus

I'll go a little contrarian here and suggest that the problem was the reserve. For some reason, when there's a reserve, it spooks bidders, sometimes in major ways. It destroys the flow of the auction. It disrupts those animal spirits with everyone trying to out-stupid each other. That big jump throws people off. All of a sudden, they sit back, reflect, and start to wonder if it's really a good idea to bid that much.

For example, I remember last year there was a nice 1952 Bowman PSA 9 Mays up for auction. The bidding was fast and furious, and got up to $100k or so (plus the juice, natch). A couple of days before the auction closed, the reserve kicked in, and jumped the next required bid up to $200k ($240k with the juice).

At that point, the entire dynamic of the auction changed. Nobody bid on it again. It had been going fast and furious, people bidding left and right. I bet if the reserve had not kicked in, it would have easily sold for more than $200k. But when that reserve kicked in, it probably confused some bidders, and spooked the rest. So it didn't sell, because no one touched it after the reserve kicked in.

A couple months later, the same card comes up at the same auction house. Not just the same grade. The exact same card. I'm thinking that maybe I can score a bargain. This time, no reserve.

Care to guess what happens? People go nuts. No reserve holding anyone back. In the last couple of days, it doubles, and then doubles again. With the juice, it goes for $444k.

Now, you could argue that the difference of a month or two might have made a difference. Since we're talking about late 2021 and early 2022, I would posit that any difference wouldn't be gigantic. Certainly not $200k worth.

For my money, having (or not having) a reserve made all the difference.

If you want to see the card, here's the auction listing where it sold:

https://sports.ha.com/itm/baseball/1...ription-071515

Posts like this one are why I wish there was a "LIKE" button!