1914 Baltimore News Babe Ruth in Heritage

oldjudge · #1 10-25-2025, 05:06 AM

So in Dec 2023 the card sold for $7.2 million or more (if the buyer did not have a reseller certificate taxes could have brought that total to as high as $8 million. Yesterday the card sold for $4 million and the seller probably realized something less. That indicates that the seller probably lost somewhere between $3 million and $4 million. Ouch!
One has to wonder if the REA hammer price was primarily the result of two determined bidders and with one gone the third high bidder was no where's close. I also continue to wonder why HA's estimate was less than what the lot realized in REA. I have always thought that their estimates were on the aggressive side so this one really stood out to me.
Congratulations to the buyer--I think you got a great deal.

calvindog · #2 10-25-2025, 06:48 AM

The arc of the income disparity in this country is long, but it bends toward justice. We can all exhale now.

benjulmag · #3 10-25-2025, 06:49 AM

The market rendered its opinion about this particular example two years ago, which IMO is not long enough for new potential bidders to enter the market. And, as Jay points out, at this price level the market could be very thin, so the loss of one bidder could have a disproportionate impact on price.

While I have always regarded the BN Ruth as one of the truly great baseball cards extant, I never liked much this particular example. It is tired looking without bold colors and doesn't pop as other examples can. Despite being rarer than the T206 Wagner, it doesn't have the recognition of that card. At the end of the day, taking the "grade" out of it, the price it went for might not be too different than what a poor eye-appeal T206 Wagner would sell for.

Having said all that, congrats to the buyer, as I do think from an investment perspective the upside potential greatly outweighs the downside.

brunswickreeves · #4 10-25-2025, 07:46 AM

The true winner is the House (auction house that is). They provide great service no doubt, and earn a lot for it, especially multi-million dollar sales.

MACollector · #5 10-25-2025, 07:48 AM

And so ends the long saga of this card�s value being inflated by being fractionalized. Someone clearly sold a sliver of this card and bid up the prices of that sliver to buy it back and make it look like it was worth a lot more than it was. I think only 1% of it was actually sold to the public when it was on that now defunct platform so the value was easy to manipulate.

Brent G. · #6 10-25-2025, 07:50 AM

Maybe it goes for $12 million in a PSA 2 slab.

Peter_Spaeth · #7 10-25-2025, 08:04 AM

Heritage can bid on its own, right? Perhaps they bought it back for the owner if he didn't want to let it go at that price. Cross it, get an MBA sticker, and try again.

Johnny630 · #8 10-25-2025, 11:49 AM

Quote:

Originally Posted by MACollector

And so ends the long saga of this card�s value being inflated by being fractionalized. Someone clearly sold a sliver of this card and bid up the prices of that sliver to buy it back and make it look like it was worth a lot more than it was. I think only 1% of it was actually sold to the public when it was on that now defunct platform so the value was easy to manipulate.

This

Aquarian Sports Cards · #9 10-25-2025, 09:12 AM

Quote:

Originally Posted by oldjudge

...and with one gone the third high bidder was no where's close.

I've tried to explain this concept to people and I usually get puzzled stares.

mrreality68 · #10 10-25-2025, 10:45 AM

Wow what a blood bath on that card and always amazing how the T206 Wagner never lose on them but only 11 or so of these and this happens
A little surprised considering HA allows reserves and it is used so often.
On a card like this I would think they would protect themselves at least to minimize some down side potential

gunboat82 · #11 10-25-2025, 11:12 AM

I�m not usually one for conspiracies, but when I see seven-figure cards like this I just assume that the auction house and/or consignor would intervene (whether directly or through an intermediary) to prevent the whale from taking a seven-figure loss. What are the odds that this card actually changes hands at this hammer price?

ValKehl · #12 10-25-2025, 12:41 PM

Quote:

Originally Posted by gunboat82

What are the odds that this card actually changes hands at this hammer price?

Slim and none!!

calvindog · #13 10-25-2025, 12:47 PM

If you want to know how or why a card like this sells for what it does, just find out who the consigner is.

raulus · #14 10-25-2025, 12:56 PM

Quote:

Originally Posted by Aquarian Sports Cards

I've tried to explain this concept to people and I usually get puzzled stares.

Usually this is an argument against selling through an auction process, at least for items with really thin demand, so I�m a little surprised that you would lean into it. But maybe the majority of the items in your auctions don�t fall into this category?

Aquarian Sports Cards · #15 10-25-2025, 03:06 PM

Quote:

Originally Posted by raulus

Usually this is an argument against selling through an auction process, at least for items with really thin demand, so I’m a little surprised that you would lean into it. But maybe the majority of the items in your auctions don’t fall into this category?

Sorry that honesty seems to confound you. Or maybe you were just taking shots at me. I would argue the MAJORITY of items in EVERY auction don't fall into this category.

I've been on both sides of the equation. We had a Rose Co. Mathewson in a very nice PSA 3 sell for $18,000. The next month Heritage had an SGC 5 go for $13k because the big buyer was out of the market.

In almost the same time frame Heritage had a PSA 8 1952 Berk Ross Mantle go for $90k (destroying the previous high sale of $16k) 3 weeks later we had one go for $51k. Still great compared to the previous record, but with that 90k buyer out of the market the 3rd place bidder now sets the price.

The problem is you don't always know what's coming down the pike with other auction companies so it's impossible to plan for it. Now if an auction company were to do it to themselves, that, to me, is irresponsible to their consignors.

We had several very tough and thinly traded items in our recent auction from an Uzit back, to a Nadja Wagner and a couple of E222's (among others). The Uzit was probably safe no matter what had come before, and maybe the market is big enough for the Wagner because of who he is that it wouldn't have mattered if someone sold one a couple weeks before me, but I would've been VERY bummed if after I had advertised the E222's someone else had the same ones at auction right before me. It absolutely would've impacted our price and I'd be lying if I said otherwise.

raulus · #16 10-25-2025, 03:23 PM

Quote:

Originally Posted by Aquarian Sports Cards

Sorry that honesty seems to confound you. Or maybe you were just taking shots at me. I would argue the MAJORITY of items in EVERY auction don't fall into this.

Wasn�t intended as a shot.

I am surprised that you�re willing to publicly admit to (and even highlight) imperfections in your business model. But that�s primarily because all of us would rather downplay those, and focus on the strengths rather than admit to the weaknesses.

But certainly credit you for your refreshing candor.

Rhotchkiss · #17 10-25-2025, 03:27 PM

As I stated on an another thread, Scott is all class.

And, I was the lucky buyer of that $18k rose co post card. I think that sale was a record (for any grade) and I have since sold that post card, I think at auction

Aquarian Sports Cards · #18 10-25-2025, 04:33 PM

Quote:

Originally Posted by Rhotchkiss

As I stated on an another thread, Scott is all class.

And, I was the lucky buyer of that $18k rose co post card. I think that sale was a record (for any grade) and I have since sold that post card, I think at auction

LOL, I wasn't going to name names

You could've made up for it grabbing the Mantle!

Aquarian Sports Cards · #19 10-25-2025, 04:31 PM

Quote:

Originally Posted by raulus

Wasn�t intended as a shot.

I am surprised that you�re willing to publicly admit to (and even highlight) imperfections in your business model. But that�s primarily because all of us would rather downplay those, and focus on the strengths rather than admit to the weaknesses.

But certainly credit you for your refreshing candor.

Sorry, sometimes I'm over-sensitive.

My feeling is, I might make more in the short run grabbing every dollar, but consignors and buyers both will remember me longer and more fondly if I'm straight with them. I feel that IS my strength (among others lol)

I've passed consignors to other companies when I felt we wouldn't do the consignment justice. A number of those consignors later came back to me with amazing items because I took their best interests to heart.

Hankphenom · #20 10-25-2025, 11:30 AM

Quote:

Originally Posted by oldjudge

1)One has to wonder if the REA hammer price was primarily the result of two determined bidders and with one gone the third high bidder was no where's close.
2)Congratulations to the buyer--I think you got a great deal.

+1 on both of these.

Rhotchkiss · #21 10-25-2025, 11:36 AM

Earlier in thread, right after Jay claimed the card would go for $12.5mm, I called that it would go below the estimate. But man, I did not think it would go for basically half of what it sold for last year. The seller must be apoplectic. Poor dude.

oldjudge · #22 10-25-2025, 11:56 AM

Quote:

Originally Posted by Rhotchkiss

Earlier in thread, right after Jay claimed the card would go for $12.5mm, I called that it would go below the estimate. But man, I did not think it would go for basically half of what it sold for last year. The seller must be apoplectic. Poor dude.

LOL, I missed by that much

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