T206 Wagner PSA 2 sold for $1.2M

[Steve D]

Originally Posted by MHCC

It has come to my attention that this card has reached that national media. I'd like to inform the collecting community that we have acquired this T206 Honus Wagner PSA 2 as well as the 1909-11 T206 Ty Cobb/ Ty Cobb Reverse PSA 4.5 from the Lucky 7 find and each of the cards will be featured in my October 2019 auction and will be on display at the National in Chicago at the Mile High Card Co. booth. We will be issuing a Press Release concerning this next week

Why would you (or someone else) buy the Wagner outright for that much, just to turn around and immediately put it up for auction?

That just seems to be an awfully dangerous and risky move.

Steve

[Leon]

I won't speak for Brian (hey Brian) but he didn't say he bought it. I think it was consigned.

Originally Posted by Steve D

Why would you buy the Wagner outright for that much, just to turn around and immediately put it up for auction?

That just seems to be an awfully dangerous and risky move.

Steve

[Peter_Spaeth]

Originally Posted by Steve D

Why would you buy the Wagner outright for that much, just to turn around and immediately put it up for auction?

That just seems to be an awfully dangerous and risky move.

Steve

It's certainly great publicity for the auction.

[MHCC]

The cards were consigned to the auction, we did not purchase the two cards.

[ValKehl]

I'm suspecting there will be a $1.2M reserve on it.

[oldjudge]

Interesting that someone would pay over 50% above the last sale and then immediately consign it to an auction where a 20% buyers premium is tacked on and expect to make money. With all due respect to a Brian, it also seems strange that if one was taking such a big risk that they would not consign the card to either Heritage or REA where the catalogs would reach the most potential bidders..

[swarmee]

Well, maybe it's the summer of 2016 again. Or maybe the owner didn't plan on doing that, but got frightened by the ongoing PSA scandal and decided to cut his losses.

[Peter_Spaeth]

Originally Posted by swarmee

Well, maybe it's the summer of 2016 again. Or maybe the owner didn't plan on doing that, but got frightened by the ongoing PSA scandal and decided to cut his losses.

If that card is altered, it's all over.

[Peter_Spaeth]

Originally Posted by oldjudge

Interesting that someone would pay over 50% above the last sale and then immediately consign it to an auction where a 20% buyers premium is tacked on and expect to make money. With all due respect to a Brian, it also seems strange that if one was taking such a big risk that they would not consign the card to either Heritage or REA where the catalogs would reach the most potential bidders..

As Jeff alluded to, also interesting that the story comes out one day and the next day Mile High posts that it will be for sale in its auction.

[jchcollins]

How is that card a 2? Eye-appeal being decent for the rest I will agree - those corners are destroyed. I think that's an A or 1 at most.

[Sean]

Originally Posted by oldjudge

Interesting that someone would pay over 50% above the last sale and then immediately consign it to an auction where a 20% buyers premium is tacked on and expect to make money.

This was my first thought as well.

[calvindog]

Maybe it didn’t sell for $1.2 million. Wouldn’t that make more sense?

[BeanTown]

Originally Posted by oldjudge

Interesting that someone would pay over 50% above the last sale and then immediately consign it to an auction where a 20% buyers premium is tacked on and expect to make money. With all due respect to a Brian, it also seems strange that if one was taking such a big risk that they would not consign the card to either Heritage or REA where the catalogs would reach the most potential bidders..

I'm 99 percent sure the consignor will recieve a rebate back on the buyers premium. For a high dollar card like this, 12-15 percent would be my guess. Plus, a reserve around 850-1m wouodn't be to shocking to see. Do, you really think the card was bought for 1.2m? I say no.

If the card sells, the chance the new owner even knows about this board or any board is slim because its a social statis card and appeals to other people with deep pockets who we wouodn't classify as a collector.

[swarmee]

Originally Posted by MHCC

The cards were consigned to the auction, we did not purchase the two cards.

Paging Mr. Drent. Can you cancel all of your Moser submissions in this auction?

[conor912]

$1.2M seems pretty ho hum to me in an age of Tom Brady and Mike Trout cards going for $400k. It would be interesting to see Wagner prices charted with other 6+ figure cards as well as inflation. I feel like $1M buys so laughably little now compared to even 20 years ago. This Wagner sale seems like one of the best values in the hobby right now.

[A2000]

I'm looking forward to seeing what these assets will sell for