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Created Sat 29th Mar 10:24pm PDT by ltmod
All questions » General » Other » 

Will a 1901 Honus Wagner baseball card up for auction sell for more than $100,000 at the auction's closing on 5/3/2008?

Settled as Yes

http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758

CURRENT BID: $200,000.00

Start: 4/3/2008 12:00:00 PM EST

End: 5/3/2008 4:00:00 PM EST

Background:

From Website: Presented is an outstanding newly discovered example of the "Holy Grail" of baseball cards: The T206 Honus Wagner. Graded 1 POOR by BVG. This is an extremely attractive low-grade T206 Honus Wagner, with edge and corner wear and a few creases, but with extremely bright, bold colors, and perfect registration. No one is ever going to confuse this card with the famous Gretzky-McNall Wagner, but this card needs to make no apologies for its appearance. This is a very strong Wagner for a low-grade example, with a bold portrait image offset by a particularly strong, bright orange background, a boldly printed reverse, very clean, both front and back, and with no heavy creases disturbing the portrait image. This card is accurately graded but there is a lot more to evaluating a Wagner card than a numerical grade. Most Wagners are in low grade. This card has something that many other Wagner's do not: eye appeal.
http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758


Settlement details: As reported on this auction site: http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758

 
Forecast history, %
   Zoom in

Settled

 Yes
97%
No
3%
Activity: H$56,720
Settled as Yes on Sat 12th Apr 1:26pm PDT

Suspend date: Thu 3rd Apr 4:59pm PDT Settlement date: Sat 12th Apr 1:26pm PDTPrediction cut-off: Predictions on this question after Thu 3rd Apr 4:59pm PDT have been voided because they were made after the question could be settled

Initial likelihoods: Yes: 20%

Action history:

Created Sat 29th Mar 10:24pm PDT by ltmod
Edited Sun 30th Mar 3:40am PDT by diana
Settlement requested Thu 3rd Apr 11:47am PDT by ltmod: Since the opening of the auction as 12pm today, the card has already exceeded a $100,000 bid.

http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
Settlement requested Thu 3rd Apr 3:35pm PDT by anaverageamerican: This is already over $100,000.

http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758

If you read the fine print you will find that bids cannot be retracted on this auction site. Also, the question is still open, and users are taking positions on a certainty.
Suspended Thu 3rd Apr 4:59pm PDT : Suspend date reached
Settlement requested Sat 5th Apr 5:24pm PDT by roxana: as of 4/5/08 card has bid of 150,000.

http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
Settlement requested Wed 9th Apr 3:09am PDT by the_professor: i havnt yet recieved the cash
Settled as 'Yes' Sat 12th Apr 1:26pm PDT by diana: http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758

CURRENT BID: $200,000.00

Start: 4/3/2008 12:00:00 PM EST

End: 5/3/2008 4:00:00 PM EST

Suspend date: Thu 3rd Apr 4:59pm PDT Settlement date: Sat 12th Apr 1:26pm PDTPrediction cut-off: Predictions on this question after Thu 3rd Apr 4:59pm PDT have been voided because they were made after the question could be settled
more info...

 

Predictions (103)

103 predictions

32 weeks ago
brent predicted No (H$20 at 11%)
32 weeks ago
kruijs[Power User] predicted No (H$100 at 19%)
32 weeks ago
mattsnever predicted No (H$50 at 18%)
32 weeks ago
peterww predicted Yes (H$50 at 82%)
32 weeks ago
pmac predicted Yes (H$1,000 at 81%)
more

Comments (11)

  1 ltmod
Oops.. I wanted to put the link to see the card into the background section, but forgot.. here it is: http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
posted 33 weeks ago
  2 flamingfurball
According to your link, the auction ends on the ninth, and starts on the third.
posted 33 weeks ago
  3 dr_ph0bius
Catalogs mail on the 9th, the bidding is listed as ending on 5/3
posted 33 weeks ago
  4 ltmod
The auction runs until 5/3, 4pm. Then it'll into extended bidding and will actually close sometime around 5am on 5/4.
posted 33 weeks ago
  5 diana
There have been a few settlement requests, but we will go with the settlement date.
posted 32 weeks ago
  6 anaverageamerican
What settlement date? The settlement details state, "Settlement rules: As reported on this auction site: http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758". The link provided is reporting that this card is already at $140,000, and bids on that site are not retractable. If the question creator had not put in a Suspend Date prior to the beginning of the auction, this would be turning into another Spitzer!
posted 32 weeks ago
  7 ltmod
Unfortunately I did put in the end date as 5/3/2008, which is when the auction ends.
posted 32 weeks ago
  8 diana
Hi guys, I've brought up auction settlements with the team and we definitely think that the rules should be adjusted as following: If the auction bid rises above the market's goal--like it has done here--then it should be settled despite the risk that the sell might not be achieved in the end for whatever reason. I'm not sure why, but I can't connect to the auction site, so once I am able to do that, I will settle the market. Thanks for being patient.
posted 31 weeks ago
  9 anaverageamerican
Hi diana,

The site does appear to be down at the moment. I'm not sure I agree that markets on _all_ auction sites should settle when the bid rises above the market's goal, that decision should be based on the specific auction site. This particular auction site requires bidders to go through an approval process to insure that bids are honored, so a bid is a firm contract. I'm not sure I'd be comfortable with the same policy applying to Ebay.

I have had an update from the site's administrators, they had a hard drive failure and are working on a restore, the site should be back up tomorrow.
posted 31 weeks ago
  10 diana
Hi anaverageamerican,

Thanks for that suggestion. I completely agree with you, but some other think that it's 'safe' to settle when the auction's bids rise above the market goal (i.e. $100,000 in the case of the above card). I do think it can be left open and I can push forward any of these ideas in creating some 'auction market rules'. Also do we all think that markets such as this one should be left open until prior to the auction's closure (say 24 hours)? If the markets are left to be fluid, then users are free to buy out at any time. No one is going to make a profit buying in right now. Thoughts?

Thanks!

Diana
posted 31 weeks ago
  11 diana
Let's discuss auction market rules here (I'll post this in other auction markets too): http://getsatisfaction.com/hubdub/topics/auctions_to_settle_or_not_to_settle_that_is_the_question
posted 31 weeks ago

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