Ot: Babe Ruth "Called Shot" Jersey Auction

looks like 24.1 took it home, what a steal!

JimmyinSD wrote:
looks like 24.1 took it home,  what a steal!

Thought you were going to announce you snagged it...

Waterboy wrote:

Thought you were going to announce you snagged it...

I was in until 24 and the bastard jumped me at the last second.

I think 20-30 years ago it went for like $900k.

Nice ROI

StickierBuns wrote:
Collectibles and antiques are an interesting market. Most people think the older something is, the more it's worth. Not true mostly. How rare it is is much more desirable, along with its condition. In this case, obviously there is only one 'called shot' jersey....so the value is going to be high. In other cases, what is deemed to be rare can be worth X amount in 1995 (say a certain Ming vase for just an example)....than in 2015, a private collector dies and its found out that person has 3 more of that exact vase. Now that worth goes down tremendously. Happens more than you'd think. The economy at any point in time also becomes a factor in what something is worth in the antiques/collectibles market.

So the very interesting part in this case is as PF notes: it was only worth $900k 20 years ago. Something happened for its value to skyrocket so tremendously.

Rich people have way more money now.  There's 2.5 times as many billionaires now, and each of them is much richer than before, and it's not like inflation in cost of food is really slowing them down.

StickierBuns wrote:

My point being there must have been a bidding war for it to sky rocket like that. Its a top shelf sports collectible, incredibly rare. There may be more billionaires now, but only a fraction are in the sports collectibles game....and billionaires hate writing big ticket checks as much as anyone else. It obviously got red hot for some reason. Paying $900k for something compared to $24 million is a gigantic difference.

I mean if you go from 1 person who wants it to 2, and each of those people have dramatically more money, that's all it takes.  Nothing has changed in the only one of its kind jersey market.

Yah, this is arguably one of the top 3 moments in American sports history
Incredibly rare
The provenance was there
Multiple bidders
BOOM!

Collectibles and antiques are an interesting market. Most people think the older something is, the more it's worth. Not true mostly. How rare it is is much more desirable, along with its condition. In this case, obviously there is only one 'called shot' jersey....so the value is going to be high. In other cases, what is deemed to be rare can be worth X amount in 1995 (say a certain Ming vase for just an example)....than in 2015, a private collector dies and its found out that person has 3 more of that exact vase. Now that worth goes down tremendously. Happens more than you'd think. The economy at any point in time also becomes a factor in what something is worth in the antiques/collectibles market.

So the very interesting part in this case is as PF notes: it was only worth $900k 20 years ago. Something happened for its value to skyrocket so tremendously.

medaille wrote:
Rich people have way more money now.  There's 2.5 times as many billionaires now, and each of them is much richer than before, and it's not like inflation in cost of food is really slowing them down.

My point being there must have been a bidding war for it to sky rocket like that. Its a top shelf sports collectible, incredibly rare. There may be more billionaires now, but only a fraction are in the sports collectibles game....and billionaires hate writing big ticket checks as much as anyone else. It obviously got red hot for some reason. Paying $900k for something compared to $24 million is a gigantic difference.