So who's going to pony up for Pete Hill?

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Posted By: Ryan Christoff

Mark,

For the most part, your understanding of the situation is correct. I'll try to address some of the points:

As far as the minimum bids in my auction bearing absolutely no relation whatsoever to my assessment of fair market value, which items are speaking of? If you're talking about the Pete Hill, it's a waste of time to discuss "fair market value" since it's a one-of-a-kind card and cards like that are worth what they sell for. You are correct that if someone paid $230k+ the winner might realize a mere fraction of that if they tried to flip it on ebay. If you are thinking about bidding on the Hill in order to flip it on ebay for a profit, I would strongly recommend you reconsider your strategy. My guess is, if it sells it will be to another collector who plans to keep it. The only reason I don't own the card myself is that I cannot afford it. Is it "worth" what the minimum bid is set at? In my opinion, yes. I realize there are only a handful of collectors that would agree with me. Most, like you, will consider this an outrageous price and voice that opinion by not bidding on it. Oh, and also by posting about it. Yes, many will voice that opinion by posting about it.

If you're talking about another lot, let me know which one.

Regarding me permitting consignors to set minimum bids, that is also true. That's the only reason you and other collectors have the opportunity to own the Pete Hill. There are many HOF collectors out there. Those who are trying to obtain one card of every player in the Hall, need this card. One of the reasons it was so important for the card to be in this auction is that there is a card of EVERY single Negro Leaguer in the HOF who has a card. Every one of them. There has never been an auction even remotely similar to this and for this to happen, Pete Hill had to be there. Every HOF collector may complain that the price is too high, but they can't complain that they never had a chance to complete their collection. One collector could knock EVERY Negro Leaguer off their list in one auction.

I realize the other auction houses do not generally allow their consignors to set the minimum bids. But I do. At least for this auction. Once the auction descriptions are up you'll be able to see exactly which items are on consignment and which ones are mine. If you need a warning that I operate fundamentally differently from other bb card auction houses, consider this to be that warning. That's not a bad thing, by the way.

I'm not sure what you would consider to be "fair market value" for a Cabanas Pete Hill, but if it's less than 200k and you're hoping to pick one up, just wait for one to pop up on ebay. Then you can pay "fair market value" for it.

-Ryan