Heritage T206 Wagner Card at the National

[calvindog]

Originally Posted by Exhibitman

Now there you go being all mathematical and stuff. You lawyers, always letting the facts get in the way of a good story.

I know, hard to imagine that I'd actually be able to tell that 225K is less than 245K. I'm just thrilled that the failure to make 20K on a flip didn't kill the poor bastard.

[bobbyw8469]

I think everyone mishead. He didn't say "He didn't want to get killed"....He said "He wanted to make a killing". $20,000 after one months time is peanuts to some people.

[calvindog]

So you can be saved from making a lot of money?

[bobbyw8469]

Define alot.

[steve B]

Probably not much to some, but 20K would put a huge dent in my wantlist.

If it's not "a lot" good for you.

If it's "not much" really good for you! (And please send some pittance my way)

Steve B

[calvindog]

A quick 20K return is a lot for anyone, no matter the investor, when you consider that the return would be about 10% in a short period of time. Warren Buffet would think that's a good return. And Pete said that the seller thought it would go for just a little more in the auction. Doesn't sound like the Rockefeller who owned the card thought he was going to make much more money than he would have had it sold at the last price.

[calvindog]

Ok -- we've got it figured out. Pete was accurate in what he wrote. Heritage bid the hell out of the card up to the level right at the reserve -- to provide the imaginary scenario of the card being worth 242K, with the hope of someone being dumb enough to actually make the next bid, thus bypassing the reserve. No one did. Had the card actually sold for what the last real bid was, the seller, who was into the card for 225K, would have 'gotten killed.'