Collectable has accepted its first buyout offer for one of the assets it offered to users of its recently launched fractional shares platform. The company said Monday that it has sold the 2017 Panini Flawless Patrick Mahomes Emerald RPA numbered to 5 that it offered in October.
The price of $182,500 came from a private buyer who had originally offered $170,000 but then upped the ante while Collectable’s advisory committee pondered that figure. After a 3-2 vote, the committee voted to accept the new offer.
According to Collectable data, 196 investors bought shares with a limit of 500 shares per person. The consignor of the Mahomes card opted to retain $60,000 worth of equity in the card. Shareholders who bought into the available $75,000 ownership stake at $15 per share will receive a payout of $20.04 per share, netting a 33.6% return on their investment.
Collectable says the vote to sell was 3-2 and “guided primarily by shareholder sentiment and comparative valuations.” A PSA 9 copy of the card sold for $35,200 in October.
That news photo of the 1916 Boston Red Sox, taken the day they clinched the American League pennant, sold for over $9,500 in RMY Auctions’ November sale.
The 7.25″ x 9.5″ silver gelatin photo features a young Babe Ruth and his teammates, who would go on to beat the Brooklyn Robins in the World Series. Issued by the Central Press Association, it includes a full dated paper caption on the back.
The photo had spent its entire life inside a newspaper archive before arriving on the auction block.
Speaking of The Babe, Pristine Auction is giving away a Ruth autographed baseball. Sign up to bid in any one of their ongoing auctions between now and Wednesday night and place a bid to enter. Full details can be found here.
COVID lockdowns have been tough for some sports card shops. Classic Materials Sports & Collectibles, located in San Francisco’s Stonestown Galleria, is at the mercy of restrictions on shopping malls. Thankfully, the hot market for cards has been making up for some of the downtime.
SFGate, sister site of the San Francisco Chronicle, stopped by to chat with owner Ray Reyes for this story.
In Edwardsville, IL, not far from St. Louis, Ben Farnsworth continues to operate the shop he started after leaving the construction business over 20 years ago.