The 1979-80 O-Pee-Chee Hockey case sold at auction in February is still in the possession of Heritage Auctions after the buyer decided he would rather someone else take ownership.
Jack Arshawsky, a real estate agent based in Vaughan, Ontario, says he’s paid Texas-based Heritage $3 million of the $3.72 million selling price, but has asked the auction house to hold onto it for now while he tries to find someone else who is “more passionate” about collecting.
Arshawsky told CBC Saskatchewan that although he owns a Wayne Gretzky rookie card, he’s not an avid collector. He inherited money from an uncle who passed away and decided to bid on the case after hearing about its existence in the media. However, after the auction ended he heard from a Heritage representative that the under bidder was disappointed about not winning what is the only known unopened 1979-80 O-Pee-Chee case.
“That caused me to have empathy for him,” Arshawsky said, indicating that’s when he “started a journey to find a better home” for the cards.
He says he’s tried reaching out to some wealthy sports figures including Edmonton Oilers owner Daryl Katz, rapper Drake and even Gretzky himself to gauge their interest, but none have responded.
A Heritage representative told SC Daily that it isn’t unusual for the company to still possess material from an auction several weeks after a sale as payment arrangements are made. He also said there are also occasions when the company will provide financing for purchases, “which could delay delivery.”
It’s clearly not an ideal situation, though. Auction companies generally expect payment for all sold items to be made in full as promptly as possible in order to pay their consignors in the same manner. It’s not known whether the Saskatchewan-based consignor has been paid in full as of yet.
There are 16 boxes in the case, each containing 48 packs. It’s likely there are at least 25 Wayne Gretzky rookie cards inside, although the case’s value lies in its unopened form. It originally belonged to a collector who was active at the time the case was produced. The discovery, consignment and sale has been one of the biggest stories in the collectibles world so far this year.
The winning bid of $3.1 million was entered on Saturday, Feb. 24, the final night of the auction. The Heritage buyer’s premium raised the final price to $3.72 million.
Arshawsky told CBC News he’s hired an attorney, Toronto-based Hy Bergel, to help him seek a potential buyer while Heritage waits for a final resolution.
“I actually felt the safest place for these cards was in their vault in Texas and when I finalize what the final destination for these cards will be, I will make arrangements for them to be transferred.”
He also says he’s not trying to flip the case to a new buyer for a profit.
“I don’t want anything additional for myself than what was the winning bid for these hockey cards.”
He says if he can’t find a buyer, he’s considered giving the case away to a girl he met in grade school, a hockey fan who he believes was his “true soulmate.”
We assisted CBC with coverage of the story, which aired on their evening newscast.
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Only Known Case of 1979-80 O-Pee-Chee Hockey Set to Fetch Millions
Recently Uncovered 1979-80 O-Pee-Chee Hockey Case Sells for $3.72 Million to Pace Heritage Auction
Whale of a Tale: Program Confirms Date of Hockey Card Photos
Heritage Auction Includes Big List of Vintage Unopened Packs, Boxes, Cases
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Notes: PSA 9 O-Pee-Chee Gretzky Rookie Auctioned; Sapphire Goes Dutch; Ohtani Rookie Record; 100K Griffey Cards Graded
