Mile High- T 209 Set

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Posted By: Bruce Dorskind

We were aggressive bidders on several of the 16 T209 four color lots in
yesterday's Mile High Auction.

Whilst we were ultimately the high bid on a few lots, the winner was the person
who won the entire group for just over $25,000 (before the buyer's premium)

The interesting point is that the 16 individual cards realized a total price which
was only 65% of the group lot.

T209s in ultra high grade are exceptionally rare and we were surprised that the
individual cards did not generate more interest from high grade type collectors.

The T209s have an interesting history. They sold as a group back in June in SCP.
The winner attempted to breakup the cards and sell on E Bay. Not one of the cards
sold at his minimum bid.

They then were offered privately at 2x the E Bay minimum bid- none sold
and finally they sold at Mile High for considerably less than they sold in the SCP
auction.

We wonder why there was relatively little interest in the individual cards. Of course, it
will be interesting to know who won the 16 card set- particularly interesting to see
if it came down to another "Battle of the three Whales."


Bruce Dorskind
America's Toughest Want List

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Posted By: barrysloate

Dealers keep fighting over these large groups, then lose money when they break them up to sell the single cards. This trend is likely to soon change. Losing money is not the ideal business model.

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Posted By: Tom Boblitt

goes against the maxim of your other current thread 'Rare High Grade Type Cards Hold Their Own'.......just like the D310's (also rare), they sold for less than the most previous sale. Again....a case of maybe not knowing the market that well for the previous purchaser........

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Posted By: Sean BH

I was pretty surprised at a few of the PSA 7's and 8's with high bids around $500 - $750. It seems like a year or so ago 4's and 5's were selling for those prices.

With the lot selling for $25,568, I doubt they will be making any money if they try to break it up, since the individual bids totaled $11,130. Did people stop bidding on the singles when the set price was going to obviously win?

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Posted By: David Poses

I did stop bidding on individual cards when it became clear that the set as a whole would win.

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Posted By: Jeff Lichtman

How about that T5 Jackson? Sold for over 100K more the last time it was 'sold' at auction.

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Posted By: Wesley

The economy was better a few months ago, Jeff.

I did not save an image of the T5 Jackson that sold for $130K+. Was that the same card?

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Posted By: Bottom of the Ninth

That is the same T5 Jackson.

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Posted By: Jeff Lichtman

Yeah, the economy was better to the tune of 182K down to 30K. Maybe the government needs to bail out the consignor of the Jackson T5 as well....

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Posted By: CoreyRS.hanus

T5 Pinkerton Jackson,

June 2006 - $182,425

October 2008 - $30,480

Same card both times.

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Posted By: Iggy...

Ouch! I sure hope the seller of the T5 Jackson is not married, that would be a real tough transaction to explain.

Okay, as if the economic news wasn't bad enough! All this negative "card-value" talk is starting to spook me.

Lovely Day...

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Posted By: barrysloate

I don't think the market has ever been more unpredictable than it is now. How do you explain a T3 Meyers in VG-EX condition selling for 15K, and a T3 Jackson only sells for two times that amount? The volatility is off the charts.

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Posted By: Jeff S.

I think alot of it had to do with the proximity of two beautiful sets of T209's being offered at basically the same time. Interestingly Goodwin's set of all SGC-graded, although technically lower in numerical grade, did slightly better as a whole at $26,508.

http://www.goodwinandco.com/LotDetail2.aspx?lotid=6048

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Posted By: Jason

McCain is already moved to cancel the next debate in order to work out a bailout package for hurting dealers.

There were some cards that I really wanted but bidding got silly on those. I did get the T205 Speaker which I'm fine with. I ended up getting a couple of things that I didn't really want but I know I can flip for a profit if I'm inclined.

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Posted By: Bob C

What I found interesting about the T209’s in this auction is each of the cards, excepting one, had an ink stamp on the back yet received no “MK” qualifier from PSA. The ink stamp appeared to be post production not factory. I am guessing bidders took this into consideration in spite of the fronts showing so wonderfully, I know I did.
That said, I believe PSA will sometimes downgrade a card, at their discretion, one or two grades in exchange for removing certain qualifiers like MC or OC. Maybe the same logic was used here? But that begs the obvious question, would each of these cards bump a grade or two without those ink stamp on the backs?
Lastly, I see SGC is now printing “Ink Stamp on Back” or similar language on the flips for cards that have similar stamps. I wonder what effect, if any, it has on their numerical grades?
Not trying to bash the grading companies, just ruminating on possible explanations for the bidding.