Posted on March 1, 2013 – 7:35 pm | Author: Susan Lulgjuraj
Football | 2012 Andrew Luck Contenders Championship Ticket, 2012 Contenders Football, eBay, ebay sales, featured | Comments (33)
Update: The card went to auction again, but the seller did not get paid a second time. He decided to do it as a BIN on eBay, and the card sold for $7,500 and was paid for this time.
By Susan Lulgjuraj | Beckett Football Editor | Commentary
Whenever you open a pack of cards, how many times do you wish to pull the big one – the mega item that could solve all of your financial woes?
We’ve all done it from time to time, slowing peeking at a potential hit card to see if it’s the pull everyone wants.
Recently, Wisconsin collector Derek Reiter got that card. He pulled an autographed 2012 Contenders Championship Ticket of Andrew Luck, a 1-of-1, probably the top card in the product.
Reiter listed the card on eBay and in just a couple of days the price had shot to five figures. By the time the auction was over, the card sold for $42,300 on Feb. 20.
But that word “sold” is a funny one. An auction ends, but money doesn’t actually change hands just yet. So many things could go wrong with buyers who are not prepared to actually buy.
That’s what happened in this case.
Reiter didn’t get paid. He was told by the top bidder “his kids bid on it.”
As Reiter put it: “I didn’t think a $40,000 joke was appropriate.”
He decided to relist the card.
Getting that big card is something a lot of collectors hope to happen, but once it’s pulled comes many decision and potential issues. First, you have to decide if you want to sell the card. Once you choose to part with it, you have to figure out how to do it.
Plenty of people put it on eBay, but is that really the best choice?
Many high-profile auctions have resulted in exactly the same outcome as Reiter’s Luck auction: no sale.
During last year’s Linsanity craze, a 2010-11 Panini National Treasures Century Materials Prime Signatures numbered 17/25 (Jeremy Lin’s jersey number), graded BGS 9.5 sold for $21,580. But seller Yair Rozmaryn never got paid.
“I had a bad feeling soon after the auction ended,” Rozmaryn said in a recent interview with Beckett. “About an hour passed, and the bidder still hadn’t contacted me. Eventually they claimed that their son had logged on at the last minute and placed the winning bid.
“I didn’t believe it, but what can you do? It definitely left a sour taste in my mouth.”
Rozmaryn relisted the card, but by the close of the second auction Lin’s popularity had crested. The card ended up selling for about $4,000, more than $17,000 less than his initial sale price.
Rozmaryn wishes eBay would establish some sort of pre-approval system for high-profile and high-end bidding, giving sellers piece of mind – and hopefully the fully realized price for their biggest hits.
And people say “kids” don’t collect cards anymore!
Dan Good contributed to this report.
Susan Lulgjuraj is an editor of Beckett Football. You can email her here with questions, comments or ideas. Follow her on Twitter here. Follow Beckett Media on Facebook.
Keep protecting buyers and screwing sellers, eBay…
This is why eBay lets you make second chance offers to the next highest bidder if the winner doesn’t pay … and non-paying buyers do get strikes on them, not that that means much.
Not that I’m a big fan of eBay, ‘cuz it screws you over any way it can. Taking a cut of postage money? That just means I have to add an extra 50 cents postage to everything I sell just to cover the eBay/PayPal fee on the postage money (postage costs $2.50, have to ask for $3, etc.). A $1 card usually costs at least $4 these days …
It’s definitely a growing problem. I myself have been non-paid many times, especially in the past year. I wouldn’t mind if eBay instituted some sort of good faith (read deposit) system for sellers trying to sell higher priced items. That way there would be some accountability on the buyer side.
Not too many people that followed this auction were surprised. Heck, the Topps Chrome Luck autographed SuperFractor 1/1 “only” went for $11,000…
I find the 2nd chance offer the best route for non-paying bidders. Unfortunately, sometimes more than 1 person is falsely bidding, so even the 2nd chance offer falls flat. I do wish that there was a better system in place to keep non-paying bidders from being able to bid on an auction. I’m somewhat surprised that eBay hasn’t done anything more to thwart it, as it does put a blemish on their name and lowers the amount of money they can collect in fees when an auction gets re-listed and sells for less.
Bidders can play games, and nothing happens to them. Sellers ship a day late and get their rating trashed. Its so one sided over at the bay.
Yea i knew it was gonna happen! I followed the lot as soon as it posted! I heard all the gossip on many trade sites saying the same thing i was thinking, “He won’t get paid!” For such an “elite” card, eBay should most definitely have a “filtering” system to where only certain bidders can bid. I mean if you have $40k to spend on cardboard, then there shouldn’t be any problem validating your credibility.
The 2nd chance offer is a joke, lets face it & can be used part of a “cheaper buy scam” anyways. All i know, with more and more fees on eBay & its brother Paypal, they need to do better for those people who so called “strike it rich” by hitting a rare card! Not everyone is in it for the money but honestly where does everyone go to sell such an huge hit without worrying about people just marking up the price just to see how high it will go! I really hope Mr. Reiter sells it for a good price & gets paid this time! lol
I was watching this auction and thinking, :”good luck getting paid”….not surprised at all.
I HATE ebay!
i think one of the biggest problems with ebay and bidders not paying for an item, is that the sports card market has a long standing history now on ebay where people pay high for cards right after the initial release of a new product ,but it only takes a week or two until a card that was selling for $150 to now be down to $100 or less sometimes. So if you get a nice hit, whether it be 40k or $300 bucks, if the buyer does not pay ,and you have to re-list the item, you are almost always gonna get less money the second time around. Ebay should either compensate you for the difference or put in place a much stiffer penalty system than 3 strikes and you get suspended for 30 days. i know i have been burned many times in this situation. (of course not with a 40k card)
Ebay states right up front that when you bid, it’s a contract between you and the seller. There needs to be an age verification system in place with ebay to make sure that all bidders/sellers are over 18, making the contract enforceable. If not, ebay should be responsible for paying the seller.
I smell class action lawsuit against ebay over this type of stuff and they’d be deserving of taking a huge hit on it.
If they establish a “real bidders only” type policy, then the card would never get that high in the first place and then the need for an article about is also not needed.
The card was shilled. why didn’t the seller send out 2nd chance offers? because he had his buddies place bids on the item just to run up the price. shill bidding is the bigger problem here. it trumps non paying bidders by miles
Second chance offer is a joke. I watched this auction and as soon as it went over $5000, I knew he was never going to see a dime. We sellers have a detailed seller rating (DSR), there needs to be a detailed buyer rating (DBR). This rating would give up front to the ebayer who he attemping to buy from his buying history. You have to understand. Ebay doesn’t care. We have to ship the item off the next day. We have to communicate with the buyer. What does the buyer have to do. As a seller whenever I have an item that is going over $100 I do ebays job and check the sellers history. See what they’ve been bidder on and how much money they have to dish out. I check their feed back and see if they’ve been consistantly paying. If not, or if I feel they’ve been bidding on way to much. I cancel their bid at the last second. I don’t have time to play the ‘communicate with your buyer” 3 days before you can open a case 3 days before you can cancel and relist. I tell the winning bidder up front. You have 3 days to make payment. If I don’t recieve payment or at least hear from you telling me when payment is going to made than an unpaid item case will be opened and the card relisted at that time. If you put this in your auction and in the email that you send to the buyer when the auction end than Ebay will back you up.
That’s just the thing. It is supposed to be a binding contract and you do have to be 18 or over to use eBay. The problem is that there is almost no accountability on the buyer side. Eventually their account get’s shut down, but it’s too easy to just open another account.
I feel a law suit coming in the near future, Isn’t a binding contract a binding contract?
Your kids got on? Why do your kids have your password?
If you give them the password then you are legally responsible for the actions of the minors, After all, they are YOUR kids.
I hear a lot of you complaining but the truth is Ebay does have a preapproval sytem for high dollar items… I have seen it plenty of times but apparently it is something that either cost money or you have to special request it…
I like how most that posted here state that ebay bidders are the problem. I pay for my winning bids within 24 hours (usually right after the auction). But I have been cheated by different sellers four different times. So it isn’t one sided. And, most of all, if there were no bidders, sellers would have NOTHING.
..yeah i see all the problems. but really, where does one go to sell and not get jerked around by such places as ebay? but yeah i’m with L.C. on this one, a lawsuit would straighten out the ebay issues.. but seriously, where does one go to sell/buy and is reasonable?
i don’t have a kid, but i’m going to use this excuse in the future. Beckett could take a cut of ebay’s market share, but they like their current set-up where they charge fools with Beckett stores enough to get by. Also Beckett makes a nice sum off of people who don’t immediately un-check the auto-renewal box for OPG subscriptions. I’d like to hear Beckett’s one employee, Chris Olds, explain in a very reasoned manner why it’s actually in the subscribers best interest to authorize Beckett to charge them $9/month infinitely. I mean, think of all the people who would forget to renew when they couldn’t retrieve prices? Who buys off Beckett stores? Those sellers think BV really means BV. For 99% of cards, 10% of BV is market value. Does anyone buy from the marketplace? Trading is the only worthwhile thing to do in this hobby anymore.
i don’t have a kid, but i’m going to use this excuse in the future.
(in case the rest of my comment gets moderated out, lol)
what a dumb #$@, this buyer should be banned from ebay for 2 years. They should implement a banning process to non payers, are if they dont pay or charge them a percentage of 20 percent for not paying the seller, making it to where they could not bid on anything until they paid.
And Dwayne Carter, what the H are you babbling about, coming on to beckett.com and whining about them.
Its friggin Andrew Luck people, he will be just as average as most of the rest of the QB’s in the NFL. If you spend more than a few hundred for his cards, you’re an idiot. Im a few months they will be a fraction of that. Look at Cam. Cards are no where near what they were selling for his rookie year. Wake up!!!!!!! These cards are not that important. Hell, the best athlete we could collect, MJ, is more affordable than what these idiots are spending on Luck and RGIII, who BTW, may be done in the NFL. Two torn ACL’s is not easy to come back from. All the Physical theropy in the world cant get the tought of doing it again out of your head. If you want to throw money away, PM me ill send you my address. For petes sake, open your eyes people. It happens every year, and you all go crazy for nothing!
Why would he put the listing as an auction?? Put it up there for a BIN/BO, that is how you will get your top dollar on that card
With anything involving the exchange of money there will always be a few low lives that ruin a good thing for everybody else. With ebay you could either remove bidding (obviously not a good thing) and have nothing but direct sale prices or only allow people to bid with the amount of money they have in their account.
Ive used the beckett store for a pretty good amount of purchases, while I agree that some of the dealers price items to sit on their shelf for eternity, I’ve definitely gotten some solid deals. As an example I probably bought 50 Colin Kaepernick items between september and november of this year on this site.
From what I recall you used to be able to sell items to people using this site in the past, I would assume people started getting ripped off and beckett isn’t big enough to police that sorts. It’s definitely a shame
Obviously very unfortunate that this happened but good on Beckett for helping the guy out with a little free advertising. Thumbs up.
That card is ugly as crap, I wouldn’t pay more than 100 bux for it, but that’s just me.
people are saying how ebay protects the buyer but it goes both ways we have sellers on other accounts placing bids making the price go up i know multible accounts that do that. but what can you do.
You can set up a per-approved buyer thing.
Here is a snippet from a charity auction.
Q. Is Bidder Pre-Qualification necessary to participate in this auction?
A: All bidding activity below $1,000 does not need to be pre-qualified. Bidding above $1,000 must be Pre-Qualified. Click here to fill out the secure Bidder Pre-Qualification form. In order to help ensure a smooth and successful auction experience, Kompolt will be performing Bidder Pre-Qualification for this auction.
If you wanted to bid on their stuff, you end up going to an outside form where you type in information and
then they contact you.
he can take legal action against this guy. he is responsable for his ebay and should his kids use his name and win he is liable as he allowed them to use his secure bidding information. if a minor causes damage to anyones person or property their parents are responsable legally for said damages. his kids spent 42,000.00 using his name. he is liable.
i have been on both sides of this fence , the last 2 items i won on ebay, i never recieved , with sellers just making up stories because i won the card for less than what it was doing and they didn’t want to let it go for that. and as a seller , more and more buyers are not paying or waiting until the last hour of a non paying bidder alert to pay so they don’t get that strike. I think buyers should have to set up an escrow account somehow, and if they want to buy something that is over that amount they have in that escrow, ebay should block the bid until you add the funds to that account. if a buyer really wanted to buy it/win it, then they should have no issue with this . As a seller we are already linked into our bank account and credit card so the buyer has ultimate protection to get thier money back, but sellers should not be able to just not send your item because it sold for less than they wanted. if thats the case the seller needs to use the reserve price on it , or just do BIN/BO.maybe ebay needs to hold the sellers funds until the item shows that it actually was accepted at the post office with tracking #? Ebay does state that it is a legal and binding contract. but i guess noone is gonna take another person to small claims court over a sports card. i also believe that the andrew luck was shill bid, why do his other 1/1 and nicer cards than that one only do $1-2k at most ,but this one out of nowwhere does 42k ? fishy to me. Ebay has made tons of millions of dollars off us sports card & memorabila folks , the least they could do is look into a better system ! just my opinion and thoughts
As someone pointed out this clown used another account to bid this up. You can bet your life on it. That is why there is no lawsuit, no ebay action on the buyer. Sellers are dirtbags with cards. If they don’t get what they want they just don’t send and say sorry I bent it or my dog chewed it or MY KID took it. Just realize buyers and sellers are people and many many people are dirty.
heres my thought instead of tossing that luck 1/1 on ebay why not use a major auction house???
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