Jumbo PSA 5(mc) T206 Wagner- Goldin Auctions- No Reserve

[steve B]

Originally Posted by Fred

Wow, what an opportunity to feel like a big shot.... I can be the opening bid for $500K and not have to worry about winning and paying up...

Any idea how an auction house would verify if you could even possibly pay for the item if you happened to be the high bidder? Do they pre-qualify bidders for something like this?

Also, does being a "jumbo" really increase the value of the card? My only thought would be that someone would crack the case, laser down the edges and still have a card that meets the minimum requirement.

Wow, I wonder if anybody's ever done that before???

Extra large cards aren't usually worth much more than a regular sized one. Some people might pay a bit more if it makes the card look nicer.

Now extra large stamps is another matter entirely. Perfect centering and extra large margins usually mean an extra large price. Sometimes about 50X catalog. Typical ones can usually be found for 50% of catalog at retail, and in batches maybe 10%.

http://www.siegelauctions.com/dynami...er 28-29, 2012

Lot 160 is a prime example. Catalog value $1 near perfect and with huge margins sold for 170.
Lot 170 is simply amazing. The margins are big enough to begin showing the edges of the stamps to the right and left. CV $6 sold for 1000! (Only 166x catalog, not quite as good as lot 160)

Steve B

[WillBBC]

I'm genuinely curious about how feasible a group purchase for this would be. Any idea what kind of work would have to be done? I just think it would be kind of incredible to own a legit share of a card of this magnitude.

[Runscott]

Beautiful card, but interesting how the 'MC' designator's meaning has been changed for this card. It's also frustrating to see the top of another card (Wagner?) below it.

"The 'MC' notation in the grade reflects the card’s ample borders which are 1/16 of an inch larger than standard T206 size. Housed within these borders is arguably a Near Mint Honus Wagner"

[botn]

Originally Posted by Runscott

Beautiful card, but interesting how the 'MC' designator's meaning has been changed for this card. It's also frustrating to see the top of another card (Wagner?) below it.

"The 'MC' notation in the grade reflects the card’s ample borders which are 1/16 of an inch larger than standard T206 size. Housed within these borders is arguably a Near Mint Honus Wagner"

Maybe a NM example will be discovered shortly after the auction?

[Runscott]

Originally Posted by botn

Maybe a NM example will be discovered shortly after the auction?

A butchered Wagner would be the talk here for years to come.

BTW - the card has what appears to be a 'holder ding' on the top border near the right.

[ullmandds]

and how would it be agreed upon when to sell this communal card?

[Craig M]

Like everything else with communal property. a vote of course. Anything over 50% is a majority.

[Craig M]

At the start of this thread, David M proposed that Net54 members pool our money together and take a stab at this Wagner. The proposal was to kick in $100 and board members started getting on board. Then Ruben stepped it up to everyone putting forth $250. Board members continued to jump on.

What I would like to realistically propose that each of us put forth $500. I think that even the guy on a strict collecting budget would be able to afford this and would like to get in on the action.

I suggest a member with credibility that joined in either March or April of 2009 be the point of contact and money man where we can send our money. IF we do not win the Wagner, all monies will be returned less a $5 fee for money order and postage.

I am prepared today to send $500.

Craig

[rainier2004]

Originally Posted by Craig M

At the start of this thread, David M proposed that Net54 members pool our money together and take a stab at this Wagner. The proposal was to kick in $100 and board members started getting on board. Then Ruben stepped it up to everyone putting forth $250. Board members continued to jump on.

What I would like to realistically propose that each of us put forth $500. I think that even the guy on a strict collecting budget would be able to afford this and would like to get in on the action.

I suggest a member with credibility that joined in either March or April of 2009 be the point of contact and money man where we can send our money. IF we do not win the Wagner, all monies will be returned less a $5 fee for money order and postage.

I am prepared today to send $500.

Craig

This is an interesting idea, but the math wouldnt work for me. Even if I had the money for this, youd need 1000 members at $500 per to generate some real funds. It would have to get to a point requiring far less members, at $2000 each thats still 250 folks. It would be sweet to have a Wags siiting on the mantle for a week every five years...

[Cerberus]

So far, all of the proposals involve each participant "investing" the same amount. How about allowing participants to invest whatever amount they wish, with an agreed-upon minimum of, for example, $1,000.

Clearly, one's percentage ownership in the card (and in net profits upon re-sale), would be equal to the percentage said individual's contribution bears to the overall purchase price. When it came time to "vote" on any major issue (such as when/if to re-sell), each individual would have a similar pro-rata number of votes, on the particular issue.

In order to make sure that no one party had control of any vote (because he may have decided to contribute more than 50% of the overall purchase price), you can limit any one individual's contribution (including family members, etc.) to a certain percentage (40% as an example), of the overall purchase price.

Obviously, somewhat unwieldy to administrate, and adequate insurance would have to be purchased, as well. The card would be "passed around," like the Stanley Cup--again with each owner having physical possession of the grail, for a number of days during any given year, equal to his/her percentage of ownership.

Food for thought?

Michael

[botn]

What happens when participants want or need to liquidate their interest prior to sale of the card? Will someone be able to do that? Do they get bought out at cost of their initial investment, at FMV or something in between? What if the amount is so large that funds are not available to pay the exiting participant? What about the possible tax reporting on the eventual disposition. I think a formal partnership with a partnership agreement would have to be established.

[Runscott]

^

Originally Posted by botn

What happens when participants want or need to liquidate their interest prior to sale of the card? Will someone be able to do that? Do they get bought out at cost of their initial investment, at FMV or something in between? What if the amount is so large that funds are not available to pay the exiting participant? What about the possible tax reporting on the eventual disposition. I think a formal partnership with a partnership agreement would have to be established.

Greg, a far more simple way to handle would be to cut the card up into slivers and have Leaf encapsulate each sliver, along with a Net54 unique 'sliver number'. Then you can sell it in the B/S/T section.

But if you're going to do that, probably better to go after the Nun's Wagner (or Andrew's ?)

??
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[Cerberus]

If someone wishes to liquidate, he/she is required to offer up his interest on a "right of first refusal basis," to the other co-owners on the board. As far as the value is concerned, the interest(s) for sale could be offered on the bst, in an "auction" format, with the market thereby determining the value. Liquidated shares could not be purchased by someone who already had a big enough piece, such that the acquisition(s) would put him/her over the 40% (or whatever's agreed upon), maximum ownership percentage threshold.