Leland’s Results Mint Auction
 

Last Night I was Following the Path of this 1951 Bowman Mantle PSA 8

https://auction.lelands.com/bids/bidplace?itemid=107698

The Card Sold in July 2021 for $498,000 Memory Lane Auction Same Card Same Cert as Leland’s Mint Auction

https://memorylaneinc.com/site/bids/...e?itemid=60643


The card sold last night for $368,580

This card a long with other big cards is Playing Musical Chairs Auction to House Auction House. Was this done to manipulate the market and drive up the prices on all the cards across the board? Especially those of lower grade ?

Who allegedly spends that kind of money to flip losing $130,000 in less than seven months unless they’re complete idiots. I don’t know too many people with that kind of money that are that stupid unless something else is going on here.

Maybe they can take the loss if they had recouped enough off 51 Bowman Mantles in grades 2-5 they manipulated up to balance off their 130k loss….idk

I think people are finally starting to wake up.

dunno? buy the card not the holder?

Is the rt one worth 400K more than the left???? I think not?

That’s not what I’m talking about here Pete

psa 8 sold for over 500K this past weekend?

I mean I am certainly a believer in the pump and dump schemes in the hobby...but also the easy money in the economy/hobby has pretty much come to an end?

Just like in the market the overvaluedstocks with nonsensical valuations have fallen back to earth...where the quality stocks have held their own moreso.

The 500K mantle just sold is much better than the lelands one you've shown...imo?

IMO Single stupidest auction....I've ever seen.


Guessing these cards will appear ( back?) On the collectable app. As the fine print shows they were a sponsor of the auction.


Lelands, since the passing of Josh Evans, had gone down him and gaining speed.

Pete I don agree it is better :-) , $150k better I can’t buy. People who are collectors with big money pay for grade to a large extent.

I guess what I’m trying to say is I believe this card has been moved around by a leveraged group of buyers manipulating the price not just on this card I feel it’s been going on for a least the past two years.

+1

See my post about the sponsor "collectable" of this ...."auction"

100% agree. I'd be curious to know if collectable consigned or bought any items. The collectable site lists


Michael Heffner
Partner at Lelands, the original sports memorabilia auction house and most respected in the hobby

Gotcha

Thought it was interesting that 9 of their 25 items did not meet reserve (reserves were not listed), including two of three pre-war card lots as neither the T3 Turkey Red SGC set nor the 1910 E98 Cobb met reserve. The T206 set less Joe Doyle error and Wagner sold for $303K.

I have no comment on the auction, but I am glad they changed their description of the near-complete t206 set, which did meet reserve

As I posted in another thread, the listing for the T3 set had an estimate of $150-200K, and considering the overall condition of the cards in the set, that was way too high to be realistic so if the reserve was based on that, there was no chance it would sell. Final bid was around $42K so a little over $50K with the BP which was probably a reasonable price to pay for the set if it had actually sold.

The T206 set came in a little light IMO. With the Plank and high end Cobb I thought it would end up a bit higher.

Completely agree with the part in bold. Both the quality and quantity of offerings have already dropped off considerably.

I'm not super familiar with the particulars of this auction, but I do think that the last couple of years has shaken up the market in ways that will have a ripple effect for a long time.

It's hard (for me at least) to know what is going on. Which prices went up as a result of legitimate entry of new money into the market and what is driven by other factors. Of course, when funds get involved, the way that they operate could mean that at any point, one (or more) could decide that cards are not a great vehicle for storing and growing wealth, and many items can quickly reenter the market. Of course, there was likely a decent amount of "pump-and-dump" going on as well.

Certain markets, like the ticket market, seem to be maintaining many of the increases to this point. The card market has definitely seen some settling on prices.

Many of the major auction houses have shifted for 2-4 auctions a year to monthly auctions, which I don't think will benefit the hobby in the long run. It means less impressive and interesting auctions, a focus on cards over other collectibles (which is fine for some but leaves segments of the hobby out) since cards are super easy photograph, catalog and describe very quickly.

I haven't sent anything to an auction house in a couple of years but I wonder what the explosion of auctions has done for fees to the auction house... has the competition to add items meant the houses are willing to be more generous with consignors?

Interesting times. I'm glad that in general my collecting areas are obscure enough that they are not part of this whole rollercoaster.

Maybe the MAXX guy bought it with his customers' money and had to cash in.

Just because people have money doesn't mean they are smart about what to do with it. I know a lot of people that if they get $1 million they have to spend $999,000 of it.

Peter, you think not? Really? There's a 7 on one flip and an 8 on the other, surely you saw that. Are you insinuating that the 7 and 8 are the same? I mean, you really wouldn't pay the extra $400K for that increment? :eek:

I think it's asinine. I'm so glad I don't give a crap about registries and trying to have the NO.1 set on earth. Especially when there's a good chance that someone with a card in a lesser grade holder probably actually has a nicer card. Oh, that's what you were getting at... :p

I agree about the monthly auctions. I think they are over saturating the market.

Go Evan Mathis, go! What a hobby.

I believe that auction was to coincide with a seminar/convention that is scheduled soon.

possible reason for high resserves?
 

I could be wrong but aren't a lot of these cards owned by the fractional ownership group who had their members agree to consign these cards as long as they met reserve?