BIDDING WAR on Ebay - Ty Cobb Tin

[dallen]

Just thought I would shed some light on this.

I believe the tin is legitimate as I was provided higher resolution images and it is a really nice example. I had extensive discussions with the seller. I disagree that the market value of this is $15 to $20k. Although I agree that the fact we got close to $40k for one was an anomaly; I believe the current market value of one in this condition is $20 to $30k. I was suprised to see it listed on eBay and wont speak to the legitimacy of the bids.

Interesting since we sold one in February there have been (3) new examples. The one on Auction Kings which was in poor condition, this example and a new example we will feature in our November sale which is pretty nice.

All the best,
Doug

[RichardSimon]

Nice way to slip in an advertisement letting everyone know that Legendary will have one of these tins in their next auction.
Wonder how that will influence the bidding on ebay?
Was that the intent here?

[dallen]

....No commercial. We announced the find a few weeks ago and I doubt anyone on this Board is on this one at $40k!

If I was doing a commercial I would have talked about our 2,500+ lot catalog coming out in a month which includes our best cross section yet of high end cards and memorabilia.
That would be an example of a commercial.

[Scott Garner]

Originally Posted by dallen

....No commercial.

If I was doing a commercial I would have talked about our 2,500+ lot catalog coming out in a month which includes our best cross section yet of high end cards and memorabilia.
That would be an example of a commercial.

LOL

[benjulmag]

Originally Posted by dallen

Just thought I would shed some light on this.

I believe the tin is legitimate as I was provided higher resolution images and it is a really nice example. I had extensive discussions with the seller. I disagree that the market value of this is $15 to $20k. Although I agree that the fact we got close to $40k for one was an anomaly; I believe the current market value of one in this condition is $20 to $30k. I was suprised to see it listed on eBay and wont speak to the legitimacy of the bids.

Interesting since we sold one in February there have been (3) new examples. The one on Auction Kings which was in poor condition, this example and a new example we will feature in our November sale which is pretty nice.

All the best,
Doug

Doug,

Could you explain what you mean when you say the one you sold for close to 40k was "an anomaly"?

[dallen]

....by anomaly I meant I don't believe that when a piece sells one time for a big price that you can depend on this being the new price.

Example the exact same Cobb tin we sold for $35,850 sold in REA in 2005 for $10,550. After this the guy offering the piece on EBay (which is a superior example) asked what I thought his was worth...my estimate was $25 to $30k. I just didn't believe because one sold once for $35k that it established a new price. Especially when one less guy needs one now!

[dallen]

.....the one that sold the Summer of 2007 for a similar amount was a far superior example. It was marketed and sold as the finest example extant and it was!

[benjulmag]

Originally Posted by dallen

....by anomaly I meant I don't believe that when a piece sells one time for a big price that you can depend on this being the new price.

Example the exact same Cobb tin we sold for $35,850 sold in REA in 2005 for $10,550. After this the guy offering the piece on EBay (which is a superior example) asked what I thought his was worth...my estimate was $25 to $30k. I just didn't believe because one sold once for $35k that it established a new price. Especially when one less guy needs one now!

Doug,

Thanks for the response. I need clarification on something. Are you referring to the Ty Cobb Tin Mastro Auctions sold at their live auction at the 2007 National? The realized price on that (included the bp) was $33,600? The condition of that tin is a lot better than the one REA sold as lot 68 in their 2005 auction, something that can be easily seen if one is to go on the auction archives in the Legendary and REA websites and compare the images. Are you saying those two tins are in fact one and the same?

[dallen]

...no I am saying the one that sold in 2007 for $33,600 is in my opinion the finest example known.

The one that sold in REA in 2005 for just over $10k is the one Legendary just sold in February for $35k.

Hope that makes sense.

[travrosty]

if the one sold in feb. was a lesser example and sold for nearly the same price as the better example that sold a few years ago, that tells me that these tins are quickly selling for more even though their condition is less.

that points to prices rising quickly. there is never a static number of collectors interested in a certain type of collecting. new members come aboard all the time, otherwise once these tin collectors die there would never be any new guys who collect tins? It depends on who wants one now and might not want to wait until the next example comes about, and who knows how much it will go for then.

we saw honus wagner cards continue to climb the stratosphere, babe ruth 9.5 graded signed ball just double in price from 150,000 to 300,000 in a short time, 1927 yankees signed photo (pipgras estate) smash through the ceiling, along with a christy mathewson signed ball go for 150 grand, the grade 10 wayne gretzky rookie went for 96000 this year, up almost 20 percent over what it went for just a short time ago. I don't see prices going down. if someone found a box of 100 of these in their closet maybe prices would be surpressed for a long time, but 2 new examples on the market wouldn't do any more damage than 2 or 4 new examples of wagner if they came to light. they still wouldnt come available for auction at a sufficient enough frequency to placate the collectors who want to place bids.

it wouldnt surprise me if this tin smashed the previous record.

[insidethewrapper]

Item now has a picture with current newspaper under it. It appears to be the real thing.