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?

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

According to your link, the auction ends on the ninth, and starts on the third.

Catalogs mail on the 9th, the bidding is listed as ending on 5/3

The auction runs until 5/3, 4pm. Then it'll into extended bidding and will actually close sometime around 5am on 5/4.

There have been a few settlement requests, but we will go with the settlement date.

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!

Unfortunately I did put in the end date as 5/3/2008, which is when the auction ends.

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.

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.

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

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