Looking for honest opinions on Legendary's T-206 Eddie Plank

[JP]

Originally Posted by T206.org

Mighty fine card and deal, Sir!
I would love to own it at that price. It really looks amazing.

Thank you, much appreciated! My ultimate goal is to trade it for other high-end T-206s even before I get it in hand.....I seem to change my collection goals faster than anybody....or maybe it just seems that way.

[T206Collector]

Originally Posted by JP

Thank you, much appreciated! My ultimate goal is to trade it for other high-end T-206s even before I get it in hand.....I seem to change my collection goals faster than anybody....or maybe it just seems that way.

Just curious -- are you motivated to flip the card by not being able to return it to its original form, have it grade a 3 and then sell it for huge profits? In other words, were you speculating when you made the purchase?

Not that there's anything wrong with that. But I am curious about these kinds of cards. I spent a lot of time thinking about which Plank to bid on in April 2007 and I decided to go with Lionel Carter's beater. My feeling at the time was that the "FrankenPlank" (as it was called by Wonkaticket at the time) would have its price inflated by two potential buyers -- those who were going to try to pass it off down the road as a PSA 7 and those were were going to try to unrestore the restoration. My view, which is supported by its return to a Mastro auction this spring and your current intent to flip it, is that there are fewer collectors that are willing to add this Plank to their collection and keep it long term in its current state given the restoration job. Maybe the SGC Authentic Plank sold for more than the PSA Authentic Plank because the PSA collectors wanted to try to get it into a PSA holder.

In any event, I spent like a month debating this 3 years ago, and I enjoy the dialogue.

[barrysloate]

JP- do you think you will be able to get enough in trade to justify the purchase? Someone is really going to have to step to the plate to make that worthwhile for you.

[Jim VB]

Originally Posted by JP

Thank you, much appreciated! My ultimate goal is to trade it for other high-end T-206s even before I get it in hand.....I seem to change my collection goals faster than anybody....or maybe it just seems that way.

JP,

You took great offense last week when another poster mentioned some deals you had done and "flipping" in the same sentence. Does this statement by you indicate that you do intend to flip this card? (As said previously, not that there's anything wrong with that...)

Flipping on a fairly high profile card is always dicey, especially when it come from one of the big auction houses. Vitrually everyone in the hobby saw this auction, and on the day it closed, you were the one person willing to pay the most for it. Why would you think that now, "before I get it in hand", it would be worth more to someone else?

Not sure I understand the logical thought process behind that.

[JP]

T206collector, Barry, Jim:

Apparently the joke I made was misconstrued, or completely missed. I have no intention of moving this card. The desire to restore it to a more valuable version I thought made financial sense, but alas seems impossible. And my comment about trading it for a Demmit or high grade Cobb was mostly a joke. A high grade Cobb is worth far more, and one of the top 3 Demmitts is my main collecting goal. Since neither one is realy attainable, it was a joke that I think only I got. As far as trading it before it got in my hands, that was a subtle reference to the previous "flip that wasn't a flip" that I did on eBay. Plank is sticking with me unless a once in a lifetime opportunity arises.

[Leon]

Originally Posted by JP

T206collector, Barry, Jim:

Apparently the joke I made was misconstrued, or completely missed. I have no intention of moving this card. The desire to restore it to a more valuable version I thought made financial sense, but alas seems impossible. And my comment about trading it for a Demmit or high grade Cobb was mostly a joke. A high grade Cobb is worth far more, and one of the top 3 Demmitts is my main collecting goal. Since neither one is realy attainable, it was a joke that I think only I got. As far as trading it before it got in my hands, that was a subtle reference to the previous "flip that wasn't a flip" that I did on eBay. Plank is sticking with me unless a once in a lifetime opportunity arises.

JP- first of all it is a very cool card just the way it is, with full disclosure and being in an AUT holder. Also, you don't owe anyone, including me, an explanation but it's always nice to hear thoughts on strategies for collecting, flipping, trading etc. All of that being said even this last statement you gave kind of goes in about 5 different directions. I might politely suggest a tad bit more focus to enhance your collecting enjoyment. Historically the folks that are the least focused (read - all over the place with high end cards etc...) tend to crash and burn the quickest. This is just an observation and certainly might not be the way you are going. Good luck with whatever you decide and thanks for participating and sharing on the board. All collecting is good collecting in my eyes!!

[barrysloate]

For better or worse, JP has found himself in the middle of some board controversies lately. I completely missed the humor in his post but as we've discussed previously, you often can't pick up tone, and sometimes even sarcasm, on a written post. So many flip comments go over people's heads.

Leon- that was my 1800th post...you better watch your back!

[JP]

Originally Posted by barrysloate

So many flip comments go over people's heads.

"Flip" comments = a brilliant unintentional pun?

[T206Collector]

...what you do with the Plank, but I thank you for sharing your purchasing/trade/use strategies with us. This is the kind of dialogue that makes this board so enjoyable because we all think about these issues to some degree, and so these comments help enhance our own enjoyment of our own cards and collections.

You're of course free to flip the card, or flip-flop in your intentions with respect to the card, at your leisure. I do agree with Leon, however, that a lack of collecting focus is usually followed by apathy and then sale.

If and when you do part with it, I'm sure we would all be curious to hear about what you have decided to do with it.

[barrysloate]

JP- honestly, didn't even think about it, but "flip" was a well chosen word.

[JP]

I understand I don't owe anyone an explanation of my thoughts or strategies, but at thesame time, I don't mind giving them! To be perfectly frank, I have been saving up recently to make a run at the Plank PSA 3 that heritage has in their upcoming. Sort of on a whim I made a lowball bid on the AUTH and was very surprised when I won (still am). My first thought was that maybe I could restore it to a PSA 3 and have what I want at a third of the price. Knowing that's not likely, I can say that I'm quite glad to own such a beautiful specimen, whether or not it is 100% original. Famous paintings are often restored without anyone batting an eye, so I have no problem enjoying this piece of history I just bought. When I was 11 years old, I bought some raw t-206s at a card show in Redding, CA. I still have most of them, almost 25 years later, including a Demmitt St. Louis that was in the group. It looks like a dog ate it and pooped it out, but I love it. My ultimate goal is to get one of the best Demmitts to put by it's side. Recently I bought a couple of Demmitts to give to my kids to get them started (still looking for one more). So while I love this Plank, and several other huge cards I've owned in the past, they will always play second fiddle to my true love.

If anyone out there has any info on how I can get a PSA 6, 7, or 8 Demmitt, you'd be helping me complete my collecting journey. I keep asking, but so far no leads.

[T206Collector]

Originally Posted by JP

If anyone out there has any info on how I can get a PSA 6, 7, or 8 Demmitt, you'd be helping me complete my collecting journey. I keep asking, but so far no leads.

You already know this, but Demmitt's only come with Polar Bear backs, which means they resided alongside scrap tobacco and will exhibit staining and tobacco impressions. I wonder how many PSA 6, 7 or 8 Polar Bear graded cards of any player are in existence. Unfortunately, I have owned some bright clean Polar Bear cards that have been rejected by SGC as a result of bleaching. So I would be quite wary of any high grade Demmitt if it didn't have the usual staining -- which, of course, would keep it from being high grade.

[ChiefBenderForever]

The card is very nice. I have often thought about the restoration of paintings as opposed to cards and why there is such a difference, and I guess it is because paintings are truly one of a kind as opposed to something printed by machine. No matter how you look at it, your Plank is real, and probably one of the nicest on the planet. It was probably really nice to start with to look that good, it just has the stigma of being labeled 'authentic'.

[Jim VB]

Originally Posted by JP

If anyone out there has any info on how I can get a PSA 6, 7, or 8 Demmitt, you'd be helping me complete my collecting journey. I keep asking, but so far no leads.

A PSA 6 just "sold" in Goodwin's last auction.

http://www.goodwinandco.com/LotDetai...100&category=1

They say there are three graded higher by PSA. They are in a couple of places on the pop report. Some are listed under Polar Bear Back and some are under Unknown Back. Combined, PSA shows: PSA 6 - 2, PSA 7 - 2, and PSA 8 - 1, so there are two 7's and one 8 out there.

I also tried to check SGC's pop report, but it never seems to like to work for me on Sunday afternoons. It must be a strict M-F, 9 to 5, kind of report.

[JP]

Yeah, I'm not allowed to bid in Goodwin auctions (falling out years ago) and so I couldn't make a run at it. There are two PSA 7s and one PSA 8. Their images float through my head nightly...

If the purchaser of the 6 is known, feel free to contact me!