T206 Eddie Plank prices finally take off?

[chriskim]

Goldin just sold a PSA-3 T206 Eddie Plank for $132K. That's the highest price a PSA3 ever sold. Why did that Plank sell for such high price? It has that common 350 back and it isn't under grade (at least to me) or whatever. It is just a "regular" Plank. Is t206 Plank finally got recognize as a rare t206 now? The Plank price has been flat (even with the craziness during/after pandemic) and a PSA3 has been in the range of $60k for a decade now.

https://goldinauctions.com/LotDetail...entoryid=81799

[Pat R]

I wouldn't trust the price realized because the consignors can bid on their
items in Heritage but this PSA 3 sold for $252,000 July 2019.

https://sports.ha.com/itm/baseball/1...ription-071515

[rats60]

That was a 150 back. Plank hasn't been 60 k for a long time. A PSA 3 sold for 84k in 2019. A SGC 3 sold for 96k in 2020. All high end cards have gone up. Why wouldn't Plank?

[chriskim]

Originally Posted by Pat R

I wouldn't trust the price realized because the consignors can bid on their
items in Heritage but this PSA 3 sold for $252,000 July 2019.

https://sports.ha.com/itm/baseball/1...ription-071515

That Heritage PSA3 had the rare SC150 back and that's why it sold for $252k. The one that just sold last nite had that regular SC350 back.

(BTW, u meant Goldin let their consignors bid on their own consignments? or Heritage?)

[Pat R]

Originally Posted by chriskim

That Heritage PSA3 had the rare SC150 back and that's why it sold for $252k. The one that just sold last nite had that regular SC350 back.

(BTW, u meant Goldin let their consignors bid on their own consignments? or Heritage?)

No I meant Heritage does Goldin allow consigners to bid on their items too?

You said no PSA 3 had sold higher so I didn't know you meant 350 backs.

[chriskim]

Originally Posted by Pat R

No I meant Heritage does Goldin allow consigners to bid on their items too?

You said no PSA 3 had sold higher so I didn't know you meant 350 backs.

I do NOT think Goldin let consigners bid on their own lots, of course u can ask your friends to bid for u and that's another story.

I didn't know Heritage let consigners bid on their own stuffs, i guess i need to study their fine prints again.

[swarmee]

Originally Posted by chriskim

I didn't know Heritage let consigners bid on their own stuffs, i guess i need to study their fine prints again.

We mention Rule 21 on here every few months, I think.

[Jobu]

I don't think HA let's consigners bid on their own items. HA does bid on items if they think the price is too low, and they do allow their own employees to consign to their auctions (and therefore bid on their own items), but I am not sure that a non-employee is allowed to bid on their own consignment. Are they?

[sb1]

Consignors cannot bid on their own items in Heritage.

[Jobu]

Keep tryin Scott, one of these times it'll go through!!!

Originally Posted by sb1

Consignors cannot bid on their own items in Heritage.

[Pat R]

I guess it must mean something different then what I think it does then.

Heitage Auctions Rules.jpg

Heitage Auctions Rules - Copy.jpg

[sb1]

Yes, it does say an employee can bid, but no where does it say a consignor can bid. As a consignor on multiple occasions I can tell you if you click the bid button, you will get a message telling you that you are the consignor and cannot bid on the item.

I was referencing item #21 in my comments above and I do see #13 now highlighted, as I read it, it pertains to live auctions??

[sb1]

So who here has an item in Heritage that is currently running?? see if you can place a bid, you don't have to confirm the bid, just try to place one.

[Pat R]

Originally Posted by sb1

Yes, it does say an employee can bid, but no where does it say a consignor can bid. As a consignor on multiple occasions I can tell you if you click the bid button, you will get a message telling you that you are the consignor and cannot bid on the item.

I was referencing item #21 in my comments above and I do see #13 now highlighted, as I read it, it pertains to live auctions??

The rule reads you have to let them know in advance.

Heitage Auctions Rules.jpg

[Casey2296]

As I read 13 it just seems like a poorly worded way to say the consignor can set a minimum bid, although the plural “bids” is throwing me off a bit. The sentence could use a bit of cleaning up and clarification.

[Rhotchkiss]

Back to the OP’s topic, I think the $132k was hammer and the final price with buyer’s premium is $158,400 - a VERY strong price. The Magie (error), which was gorgeous, also finished strong, and, of course, the Wagner crushed a new record for a PSA 2. The big boy t206s did well last night.

[chadeast]

It's all relative, of course. When I saw the dozens of basketball cards going for 5 and into 6 figures last night, I started to think that the '33 Goudey Lajoie was a good deal at $26k. These are strange times.

[Leon]

Originally Posted by chadeast

It's all relative, of course. When I saw the dozens of basketball cards going for 5 and into 6 figures last night, I started to think that the '33 Goudey Lajoie was a good deal at $26k. These are strange times.

Everything pre war is a great deal, to me, compared to what a lot of the shiny stuff goes for nowadays. But I do get the pricing, as the demand is there, and I am a firm believer in capitalism. It seems strange to me too.

Back to the Plank...it's all about the series as has been mentioned.

.

[Pat R]

If you want to see the majority of of the past plank sales going back to 1996
you can see them here.

http://www.t206resource.com/PlankSales.html

and if you click on the plank Gallery at the top you can cross reference most sales by the number at the right for a scan of that particular Plank.

[chriskim]

Speaking of diff series of Plank. The other Plank in the same Goldin auction that has SC 150/30 back only fetched $33k. That was a big bargain compare to the last SC 150/30 back that sold in Heritage for quarter Mil. I also don't think lighter blue of background color was caused by fading, that Plank was actually a printer scrap, similar to those yellow and brown printer scrap

[bounce]

Here is some more info on these, I imagine there are some who are interested so I'll be the "gopher" today.

PSA pop report shows 78 graded total.
58 of them are PSA 3s or lower.
54 of them appear in the "detailed" pop report, meaning it specifies the back series.
Only 2 are Piedmonts according to the "detailed" pop (both of those are "A"s, so it's not tough to infer that there can't be too many more Piedmont's out there).


Card on the left is the first Goldin Plank, a Sweet Cap 350 Series back, which is the most common.
This card sold for $162,360 including the buyer's premium.

Compare that to the card on the right, which is from Heritage in 2019, which is a 150 Series back. This back is quite a bit more rare and is actually the highest graded of these in the "detail" pop report which some might argue warrants a premium.
It sold for $252,000 in 2019. I guarantee this card would sell for quite a bit more today.




Card on the left is the other Goldin Plank. It is a 150 Series back. The "Authentic" grade makes sense, and I agree with the above assessment this card was likely printers scrap in actuality.
This one sold for $34,440 including buyer's premium.

Compare it to the one on the right, which is from REA in April of this year. It is a Series 350 back (so more common), also graded "Authentic" but also "Altered" due to the bottom right edge (more on that in a moment).
This card sold for $33,600 in April (I own it).




I am far from an expert on this card, however here are some reasons I think these prices are not actually suspect at all. First, there are only 78 of these in slabs - compared to 36 Wagners which most would estimate are all $1,000,000 or more in value at this point, so Plank becomes an "affordable" second choice. Also, there are easily at least 78 collectors out there either (1) working on the "monster" set, or (2) working on a HOF portrait subset, or (3) Plank player collectors - all of these people would want this card, in addition to all the other people who would just buy it because of its rarity.

This is definitely one of the hobby "grail" cards, and when taken in perspective to the price of some of the modern cards, it comparatively is quite "cheap" on the particularly considering the overall supply. When you then consider "eye appeal", population gets even smaller.

Anyway, that's my two cents...

[chriskim]

Appreciated your detail analysis, David.

Congrats of owning a Plank as well. Your Plank definitely has strong appeal, too bad that it was trimmed on the bottom.

I was told people prefer to have the 150 series version because the image on the front and the background blue color is a lot more focus and sharp.

I totally agree t206 Plank are way undervalued, their prices had been lack of "excitements" in the past 15 yrs, until that sudden pop of quarter $mil sc150 plank sold by HA last yr.

[chriskim]

Really love that Planks side by side comparsion!

[Pat R]

Originally Posted by bounce

Here is some more info on these, I imagine there are some who are interested so I'll be the "gopher" today.

PSA pop report shows 78 graded total.
58 of them are PSA 3s or lower.
54 of them appear in the "detailed" pop report, meaning it specifies the back series.
Only 2 are Piedmonts according to the "detailed" pop (both of those are "A"s, so it's not tough to infer that there can't be too many more Piedmont's out there).


Card on the left is the first Goldin Plank, a Sweet Cap 350 Series back, which is the most common.
This card sold for $162,360 including the buyer's premium.

Compare that to the card on the right, which is from Heritage in 2019, which is a 150 Series back. This back is quite a bit more rare and is actually the highest graded of these in the "detail" pop report which some might argue warrants a premium.
It sold for $252,000 in 2019. I guarantee this card would sell for quite a bit more today.




Card on the left is the other Goldin Plank. It is a 150 Series back. The "Authentic" grade makes sense, and I agree with the above assessment this card was likely printers scrap in actuality.
This one sold for $34,440 including buyer's premium.

Compare it to the one on the right, which is from REA in April of this year. It is a Series 350 back (so more common), also graded "Authentic" but also "Altered" due to the bottom right edge (more on that in a moment).
This card sold for $33,600 in April (I own it).




I am far from an expert on this card, however here are some reasons I think these prices are not actually suspect at all. First, there are only 78 of these in slabs - compared to 36 Wagners which most would estimate are all $1,000,000 or more in value at this point, so Plank becomes an "affordable" second choice. Also, there are easily at least 78 collectors out there either (1) working on the "monster" set, or (2) working on a HOF portrait subset, or (3) Plank player collectors - all of these people would want this card, in addition to all the other people who would just buy it because of its rarity.

This is definitely one of the hobby "grail" cards, and when taken in perspective to the price of some of the modern cards, it comparatively is quite "cheap" on the particularly considering the overall supply. When you then consider "eye appeal", population gets even smaller.

Anyway, that's my two cents...

Good info David and nice Plank.

Here's the information available on the backs and factory numbers.

SC150/25 - 2
SC150/30 - 9
PD150 - 5
SC350/30 - 35

Scott B has/had a nice example of one of the two SC150/25's

[Rhotchkiss]

Good Gophering David. I agree with your analysis, including that the Plank A from Goldin is scrap and missing a color; in fact, I think Goldin messed up a bit by not describing it correctly as scrap, considering errors and "freaks" are their own little subset and fun to collect. I will start a thread....

[iwantitiwinit]

Without a doubt the reason these have escalated is that they are still attainable for many collectors at the $150,000 level or lower. Actually, I'm surprised that it took so long for them to reach this level to be honest.

[bounce]

Originally Posted by Rhotchkiss

Good Gophering David. I agree with your analysis, including that the Plank A from Goldin is scrap and missing a color; in fact, I think Goldin messed up a bit by not describing it correctly as scrap, considering errors and "freaks" are their own little subset and fun to collect. I will start a thread....

On the scrap topic, as I look again it’s probably not just missing one color, it may be missing a couple or more. His face pigment isn’t there and it’s obviously missing another round of blue. Plank in particular had several of these type of cards, which is why I think the broken printing plate idea had such traction.

I’ll try and find that link in the morning, as well as a link the black and white Plank. That one was originally the first Plank I wanted, saw it at the National one year but couldn’t afford to be in that game at that time.

But I agree, it seems Goldin didn’t really know exactly what they had in that card; it could have possibly done much better with a more thorough analysis of the card and what it likely was. BUY THE CARD - not just the case!

[bounce]

A few additional thoughts on the pricing - and here are the 350/30s next to each other.




At least for me, at the lower grades for rare cards like this I've changed my thinking over time. I wouldn't chase "authentic" cards or even cards with "marks", because they weren't totally original in my way of thinking. Similar with cards with paper loss, even on the backs or corners - they weren't fully original, which made them less valuable and less desirable - and the market has and continue to reflect that.

What I've come to terms with, however, is that if I want to own any of these cards I'm very likely NOT going to be able to get a number grade above a 1 or so, unless I'm willing to spend into 6 figures, which is just not somewhere I'm not comfortable being on most of them. Thus, if I want to own an attractive version of the card, I am probably going to have to settle for some "authentics" in my collection. In this specific instance, with all the various printers scrap etc on this card, the trimming didn't bother me as much because of the eye appeal. I've seen other 1s and 2s that are creased beyond belief, and I just can't look at those and feel any desire to own them. As with any of these cards, I could end up being wrong certainly, but I just felt there was great value long term in this particular card, because it shows pretty well even against higher number graded cards. It's definitely a card by card analysis for me, just thought I'd share this specific thinking.

In my weird card math, for 20% of the price I got 90% of the card. That seems like a good trade to me.

[Sean]

Originally Posted by Rhotchkiss

Good Gophering David. I agree with your analysis, including that the Plank A from Goldin is scrap and missing a color; in fact, I think Goldin messed up a bit by not describing it correctly as scrap

Ironically, this scrap Plank with the missing colors was also incorrectly described as just a regular Plank by Sothebys in 1999. It was part of a two card lot, along with the all-white Plank. Sothebys referred to them as a missing color Plank and a standard Plank.

This was the Barry Halper auction, and both cards were ungraded at the time. When it was resold in 2006 it had been graded, and Heritage correctly called it a missing color scrap.

IMG_1342.jpg

[chriskim]

Originally Posted by Sean

Ironically, this scrap Plank with the missing colors was also incorrectly described as just a regular Plank by Sothebys in 1999. It was part of a two card lot, along with the all-white Plank. Sothebys referred to them as a missing color Plank and a standard Plank.

This was the Barry Halper auction, and both cards were ungraded at the time. When it was resold in 2006 it had been graded, and Heritage correctly called it a missing color scrap.

Attachment 460466

Very nice! Thx for sharing! Are you also the winner of that Plank missing color scrap from Goldin?

[Sean]

Originally Posted by chriskim

Very nice! Thx for sharing! Are you also the winner of that Plank missing color scrap from Goldin?

No, I have a friend who was the underbidder, but I don't know who won that one.

[PhillyFan1883]

I have noticed strong prices for Plank t206’s also recently. Underrated card. Great card with upside.

[Mjpadilla84]

A PR1 Plank just sold last night on Goldin auctions for a little over 50k.

[Mjpadilla84]

Here is the Plank I picked up on EBay a few months ago for a reasonable price. It really does seem that prices are starting to take off on these.

[chriskim]

Originally Posted by Mjpadilla84

Here is the Plank I picked up on EBay a few months ago for a reasonable price. It really does seem that prices are starting to take off on these.

Welcome to the Plank Magie Club! You know Wagner is next, right?

[Mjpadilla84]

A Wagner would be nice! Maybe someday

[chriskim]

Wow..... PSA-1 $233,700

[Mjpadilla84]

Goldin Plank PSA 4 sold tonight for $312,000. Same card listed for sale on Dean’s cards for $165,000 a few months ago. Whoever flipped that card did well tonight.

[Rhotchkiss]

It did not sell. It would have but the reserve was not met. Apparently $300k+/- (you know consignor got a large chunk of the BP) was not enough for the consignor. So, we have a fake comp at $312k

[Mjpadilla84]

Ok I see it didn’t it hit the reserve, I was keeping an eye on it.

[mrreality68]

Originally Posted by Pat R

Good info David and nice Plank.

Here's the information available on the backs and factory numbers.

SC150/25 - 2
SC150/30 - 9
PD150 - 5
SC350/30 - 35

Scott B has/had a nice example of one of the two SC150/25's

Wow I never would have thought of looking at it this way and the side by sides are great.
Very Detailed analysis.
Thanks
Wish I had one. Passed my chances in the past and probably to late going forward.

[Jobu]

I just went to look at the Goldin Plank and it doesn't show up anywhere, apparently bc I didn't bid and it didn't hit the reserve. Can someone post a screenshot of the final top bid here for posterity?

[Schlesinj]

I think after auction ends tonight the items that sold last night will show up with prices.

[Rhotchkiss]

Bryan, here is a screenshot of my watched items that shows the Plank at $260,000 - this is before buyers premium

[Jdoggs]

Originally Posted by Rhotchkiss

It did not sell. It would have but the reserve was not met. Apparently $300k+/- (you know consignor got a large chunk of the BP) was not enough for the consignor. So, we have a fake comp at $312k

Wow reserve wasn’t met so this is a fake comp.

[Goldin Auctions]

Originally Posted by Jdoggs

Wow reserve wasn’t met so this is a fake comp.

???
This is the Second person who says” fake comp”
If an item does not meet reserve it says “ reserve not met” and when auction is completed the item shows as NOT SOLD, and goes into NO ONES auction price realized sales record.
Please do not use words like” fake comp” when in fact a sale didn’t take place and there is “ no comp”

[Rhotchkiss]

Originally Posted by Goldin Auctions

???
This is the Second person who says” fake comp”
If an item does not meet reserve it says “ reserve not met” and when auction is completed the item shows as NOT SOLD, and goes into NO ONES auction price realized sales record.
Please do not use words like” fake comp” when in fact a sale didn’t take place and there is “ no comp”

We know someone was willing to pay $320k+/-, so in that regard, it is a comp (sort of). Maybe it’s not a “fake comp” - I didn’t mean anything malicious or untoward happened- but rather it shows that in an open auction with willing buyers, someone was willing to pay near $320k for that Plank, and that’s noteworthy and shows the card is worth that. It’s not a “comp” bc it didn’t sell, but it certainly sets a price point. So call it whatever you want. And BTW, that is an incredible price, very strong

[mrreality68]

Originally Posted by Rhotchkiss

We know someone was willing to pay $320k+/-, so in that regard, it is a comp (sort of). Maybe it’s not a “fake comp” - I didn’t mean anything malicious or untoward happened- but rather it shows that in an open auction with willing buyers, someone was willing to pay near $320k for that Plank, and that’s noteworthy and shows the card is worth that. It’s not a “comp” bc it didn’t sell, but it certainly sets a price point. So call it whatever you want. And BTW, that is an incredible price, very strong

Agreed.
And never that it would get that high of bids even in this environment
And some day I will join the club with a low grade T206 Plank

[Mjpadilla84]

Nice looking Plank Authentic for sale at heritage auctions. Be interesting to see what this one goes for. Good luck to those here bidding on it.

[chriskim]

Originally Posted by Mjpadilla84

Nice looking Plank Authentic for sale at heritage auctions. Be interesting to see what this one goes for. Good luck to those here bidding on it.

Your Plank? Good luck!