Heritage Live Auction -- Black Swamp debacle

[jimross]

"fraudulent not to disclose the material fact of other high grade E98s in their possession when trying to sell purportedly "low pop" cards."???

That's a fraudulent act??? yeah right! Come on!!!!

If u have three Honus Wagner signed t206 and want to sell one, I am 100% certain u wouldn't want to tell people u have two more to sell later.

[jimross]

I talked to a HA personnel last night, he said they have been getting low ball offers for those "lesser" grade Black Swamp find cards after the auction. One offer was $5k for a PSA-9 Wagner and the consignor actually accepted the offer after the auction ends last nite. I guess the consignor learnt his lesson and try to dump those cards to the market before they crash become trash.

I don't think the consignor family would waste their time for those endless interviews if they know they would get ~$1M for the whole collection.

[Matthew H]

Originally Posted by jimross

I talked to a HA personnel last night, he said they have been getting low ball offers for those "lesser" grade Black Swamp find cards after the auction. One offer was $5k for a PSA-9 Wagner and the consignor actually accepted the offer after the auction ends last nite. I guess the consignor learnt his lesson and try to dump those cards to the market before they crash become trash.

I don't think the consignor family would waste their time for those endless interviews if they know they would get ~$1M for the whole collection.

I'm going to have to disbelieve this statement for now, since you didnt accidentally rip the back of your jeans off reaching for your wallet when you heard 5k. The "gem mint" version just sold for 40x that number.

Also, Heritage is too money grubby (signed, Matt Hall) to accept that kind of low ball offer. They could get more then that on eBay.

They'd have to average close to 4k per card to hit around the 3mil estimate mark. That estimate was too high. In another thread, a board member estimated 25k for each Cobb. That seems like a more reasonable number.

[Wite3]

Umm...

could it be investors (not collectors) who buy high end material might be a little gun shy of auction houses right now as well? (b/c of the mastro fiasco)

Joshua

[Matthew H]

Originally Posted by Wite3

Umm...

could it be investors (not collectors) who buy high end material might be a little gun shy of auction houses right now as well? (b/c of the mastro fiasco)

Joshua

They also might know that there are 20 more similar sets available.

[Griffins]

And on the other side of the coin.....


http://news.yahoo.com/rare-baseball-...063544522.html

[calvindog]

"A sampling of the treasure trove that had been untouched for 100 years was sold Thursday night during the National Sports Collectors Convention in Baltimore, Md. The 37 baseball cards featuring the likes of Hall of Famers Ty Cobb, Cy Young and Honus Wagner fetched a combined $566,132 in brisk online and live bidding. They were expected to bring about $500,000."

Um, what?

[insidethewrapper]

That's what I thought. The auction exceeded expectations. They (the family) are happy. The hobby is healthy. Millions of $$$$ were spent last night. A lot of good press for the hobby.

Does Calvindog think all the cards were auctioned last night ? Only 37 of them !!!