Quote:
Originally Posted by hank_jp
When I saw this thread I had open it and read the comments.
Scott, you were referring to the auction of the Copeland Collection held at Sotheby's on March 23, 1991. It was certainly a day we will never forget.
Even though the main focus of the auction was the day prior when THE Wagner card was bought by Gretzky, in the most electrifying bidding war anyone in the room that day was privileged to see, you know that I only had my eyes on the 1914 Baltimore News Ruth.
You told part two of our involvement with that particular excellent condition blue version of that very card. Here is the beginning of the story.
In October 1988 Mr. Mint ran an auction in SCD and the same Ruth card was one of his featured items. In his description he wrote: "1914 Babe Ruth Baltimore News Minor league Rookie card. I've checked with so many old timers on this one, nobody has ever seen it!" He then described the card and said he recently discovered the card in Baltimore in a collection from a gentleman that worked for the Baltimore News. Rosen ended with, "What is it worth? How many are there? The true Ruth collector will set the precedent on this one!"
I saw this card listed and I wanted it. I too had never heard about the Baltimore News Ruth but in my gut I knew it had to be the most valuable and prized baseball card in the hobby.
Mr. Mint's auctions always ended precisely at 10pm. On the evening of October 24th I called in to the auction line just before 10pm. I asked what the high bid was and was told it $4500. I promptly gave the next bid of $5000. I stayed on the line and asked about a few other items and as 10 pm approached confirmed that I was the high bid. I was told that I was. The auction ended and I asked for confirmation that I had the winning bid and was told that I did.
There is that moment of exhilaration of winning prized collectible accompanied by that inner voice that says, "Are you nuts spending $5000 on a card you never heard of before just because Mr. Mint said it was rare?" But overall I was thrilled.
The next day when I called Alan Rosen's company to find out about payment, I was told that the card sold for $5500. I said that wasn't possible because I was on the line with Rosen's rep when the auction ended and was told that my bid of $5000 was the winning bid. That is the day that I first heard the term, "Top all bids". It was explained to me that one of the bidders put in a number of "Top all" bids and one of them was for the Baltimore News Ruth.
That meant that whatever amount anyone bid on a particular lot, the "Top all" bidder would end up winning that lot. There was no amount one could bid that could ever win that lot.
That "Top all" bidder was James Copeland.
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Hank, pretty much the same thing happened to me in an Alan Rosen phone auction. It occurred in the same auction that hit you or the one after. I was told by Alan's assistant that I won the auction item I was bidding on---a NM-MT complete set of the 1960 Home Run Derby cards. Since I was verbally told I'd won, I wasted no time, and sent Rosen a certified check. I got my check back, with a letter of apology, saying someone else had won it. What could I do? That opportunity was my one chance to get the set. Needless to say, I was very upset me; that one really hurt. --- Brian Powell