1979 OPC hockey sealed case find

[hairysasquatch]

Buyer keeps it sealed it's only going up.

[jmarascojr]

Originally Posted by DaveedTO

A Canadian bidder won the Gretzky case.
I really hope the new owner opens a box.
The hobby needs more jagged edged & off-centered hockey cards!

So if the buyer was in Canada, was the winning bid in US or CA dollars?

If US, which would be my assumption, the winner paid over 5 million in CA dollars (as of today's conversion rates)

[DaveedTO]

Originally Posted by jmarascojr

So if the buyer was in Canada, was the winning bid in US or CA dollars?

If US, which would be my assumption, the winner paid over 5 million in CA dollars (as of today's conversion rates)

https://www.cbc.ca/news/canada/saska...ions-1.7125262

"...With a 20 per cent buyers premium on top of the purchase, the final amount the Canadian bidder paid was $3,720,000 US ($5,016,978 Cdn)...

While Simonds revealed the winning bidder was a Canadian, they are remaining anonymous.

Simonds said he imagines the buyer will keep the cards sealed and not open them, but he isn't totally sure..."

[mortuus]

Originally Posted by hairysasquatch

Buyer keeps it sealed it's only going up.

Thats shame, imagine having a mint gretzky there or more without even knowing it if not open...

[irv]

Originally Posted by hairysasquatch

Buyer keeps it sealed it's only going up.

Exactly. That's where the value is considering it is, supposedly, the only one around.

[Retired hobbist]

Originally Posted by mortuus

Thats shame, imagine having a mint gretzky there or more without even knowing it if not open...

Imagine opening the case and getting damaged 5 type cards too it cuts both ways...

Or another scenario where you some imbalance where you get a bounty of Bobby Smith cards and few Gretzky cards...

[kluke84]

Originally Posted by DaveedTO

https://www.cbc.ca/news/canada/saska...ions-1.7125262

"...With a 20 per cent buyers premium on top of the purchase, the final amount the Canadian bidder paid was $3,720,000 US ($5,016,978 Cdn)...

While Simonds revealed the winning bidder was a Canadian, they are remaining anonymous.

Simonds said he imagines the buyer will keep the cards sealed and not open them, but he isn't totally sure..."

Smart to keep the boxes sealed. As said above, something like this will only go up...

[valleynuckfan]

The owners of the 2 PSA 10s will be quite happy if the case is left intact, as will any owners of straight up PSA 9s.

[rizzeedizzee]

At first I thought there was no way this would be kept as a case, and that the buyer would sell off individual boxes at set intervals and at prices that ensure they make a profit. But there is a danger in that approach, as if one of those boxes gets opened and either - or both - the centering and edges have problems, that probably means the entire case will be like that, and the market for the remaining boxes would take a big hit. So I think either the case stays a case, or all boxes go up for sale at once, with a high enough reserve price to ensure a profit to the case buyer.

[Retired hobbist]

Yes this could be a doomsday scenario on the speculative value of the remaining boxes. It's conceivable that the case was banged around before the previous owner received the case 40+years ago.

I will say this there is less of chance that the previous owner abused the case as he was a hardcore collector.

[SLGSports]

I'd say the opposite... if they open the packs, there's a super low chance there are any gem-mint (or even mint) cards. But having this case out there, some will wonder how "safe" those 2 gem-mints are now currently.

[auburn35]

Interesting update to this "sale".

The article is pretty interesting, but a quick recap....high bidder still hasn't fully paid for the case and has reached out to Gretzky, Drake and various NHL owners to see if anyone is interested.

'I'm not so passionate about it': Winner of multimillion-dollar Gretzky card case says he's changed his mind
https://www.cbc.ca/news/canada/saska...ards-1.7172349

[anusinha]

Probably thought he could flip it quick and is now trying to back out

[kluke84]

Originally Posted by auburn35

Interesting update to this "sale".

The article is pretty interesting, but a quick recap....high bidder still hasn't fully paid for the case and has reached out to Gretzky, Drake and various NHL owners to see if anyone is interested.

'I'm not so passionate about it': Winner of multimillion-dollar Gretzky card case says he's changed his mind
https://www.cbc.ca/news/canada/saska...ards-1.7172349

Not only did he shill bid to box out possible owners who would do the find right ('drank 4 red bulls') but now gets cold feet. Note he is in real estate. Too much leverage?

Best the auction house cuts the deal and re-lists to a worthy home. This ain't the guy.

'I'm not so passionate'. The worst of thr hobby. Dip in home sales?

[anusinha]

Originally Posted by kluke84

Not only did he shill bid to box out possible owners who would do the find right ('drank 4 red bulls') but now gets cold feet. Note he is in real estate. Too much leverage?

Best the auction house cuts the deal and re-lists to a worthy home. This ain't the guy.

'I'm not so passionate'. The worst of thr hobby. Dip in home sales?

You know real estate agents get paid too much when they are buying up 4 million dollar cases of hockey cards

[DaveedTO]

Jack Arshawsky is the winner of the case containing thousands of unopened 1979-1980 O-Pee-Chee brand hockey cards — which sold to him for $3.72 million US. Here he is holding a 1979 Wayne Gretzky rookie card that he already owned, which he credits with piquing his interest in buying the case. (Submitted by Jack Arshawsky)

[astroshane]

Too many red bulls, too much ambition, and too little cash makes for a bad mix.

[boxbuster7]

What a loser...although I shouldn't call him that - since he has millions of dollars more than I do.

[Satan]

Originally Posted by boxbuster7

What a loser...although I shouldn't call him that - since he has millions of dollars more than I do.

After listening to his interview on CBC, I honestly have no idea how he has millions.

[DoubleD]

Originally Posted by boxbuster7

What a loser...although I shouldn't call him that - since he has millions of dollars more than I do.

He inherited his money, probably did not work much even before that. He seems a little off to me in that interview.

[WillyC]

This case will be back to auction soon... dude was hoping to flip before paying the full amount.

[slightlyrounded]

Really feels like shill bidding gone wrong. Would not be surprised at all to find out the seller and “buyer” are tied, financially or otherwise.

[kluke84]

Originally Posted by slightlyrounded

Really feels like shill bidding gone wrong. Would not be surprised at all to find out the seller and “buyer” are tied, financially or otherwise.

Not sure how this would benefit the seller who is still waiting for full payment. Did they also have to pay the auction house at the time of the original 'sale'? Will they have to if the transaction is ultimately voided?

The only benefit to the seller is the free (news) promotion. I doubt it results in a higher price once it re-lists.

The buyer seems to be short on selling commissions and getting cold feet because of it. If he backs out should be banned from auction house going forward.

[JohnnyAppleseed]

Originally Posted by kluke84

Not sure how this would benefit the seller who is still waiting for full payment. Did they also have to pay the auction house at the time of the original 'sale'? Will they have to if the transaction is ultimately voided?

The only benefit to the seller is the free (news) promotion. I doubt it results in a higher price once it re-lists.

The buyer seems to be short on selling commissions and getting cold feet because of it. If he backs out should be banned from auction house going forward.

The point of shill bidding is suckering the guy with the highest bid amount to win and pay a higher price than they otherwise could have. Doesn't work when the sucker finishes second.

[slightlyrounded]

Exactly. This reeks of “I never expected or wanted to win”.

I’m assuming bidders had to show financial capacity, so this realtor seems to have been able to pass that test. But damn, what a disaster of a situation.