Volume 6, Number 3
Bids for a baseball purportedly signed by Lou Gehrig sit at $1,365. The browned ball is signed on a side panel. The description tells how rare and wonderful the piece is and that Gehrig-signed balls have sold for $6,500 in the marketplace. Boy, am I pumped.
I'm staring at my computer screen and am instructed to scroll down to see a picture of the item. A couple of clicks and the image processes before my eyes. Sure enough, this is one bad Gehrig. It's not a secretarial. It's not a ball signed by his wife. It's not a ball signed by a third cousin once removed. It's not even close.
At this point, eight bids have been posted. The reserve of $565 has been eclipsed. Here's what's about to happen. The winning bidder is:
A. About to make the purchase of the new millenium.
B. Really knows how to spot a bargain.
C. Knows the difference between excrement and Shinola.
D. Is very stupid, and is willing to pay for something quite worthless.
If you answered A-C, just check out now. Call your parole officer immediately.
Indeed, the bidder and all those before and after are as dumb as a post. No, the post is smarter.
Welcome to auctions on the Internet - well, certain auctions but not all internet auctions on the Web. The above example was a real item and was found recently on an internet auction on a well-known and widely-used website called eBay. Ebay carries hundreds of items in many categories. Peoplelove this colorful and well organized website; so does Wall Street. The stock has exploded from 12 to over 200 this year. Without question, it carries items that are legit. The Gehrig ball and a number of other items, however, are not among them.