T206 Wagner PSA-8 nets $1.27 Million

(CNN - July 15, 2000)

NEW YORK (CNNfn) - An eBay bidder on Saturday paid a record $1.27 million for what experts say is the world's most valuable baseball card of Hall of Fame shortstop John Peter "Honus" Wagner.

The price for the T206 Honus Wagner is the most ever paid for a baseball card at an auction, said Robert Lifson, director of Robert Edward Auctions, a division of Mastronet Inc., which sold the card through eBay.

The online auction drew 13 bids from six people and attracted widespread interest in the baseball collector's market. Bidding closed at 7:37 p.m. ET.

"Everybody's eyes were glued to this auction," Lifson said. "It is the Holy Grail of baseball cards. It is the Mona Lisa. There's nothing else like it."

Bidding for the 1909-issued card started at $500,000 on July 5. There were seven bids as of Friday afternoon, with the top offer $800,000. Bids were in $50,000 increments. Five more bids came in on Saturday until the winning offer of $1,100,000 hit the screen shortly before the auction closed.

The purchase price comes with a 15 percent "buyer's premium" that goes to the seller and the auction house, Lifson said. That raised the $1.1 million bid to $1,265,000.

The winning bidder doesn't want to be identified, Lifson said.

"He's taking some time to think about it," Lifson said.

Experts say the card is the most valuable and desired in the world.