Wayne Gretzky's rookie card case is up for auction again after unpaid bill of $3 million

Wayne Gretzky’s “Holy Grail” rookie card case is back on the market.

In February, Heritage Auctions made headlines when it sold a box of 1979 O-Pee-Chee hockey cards that had been stored for decades in Regina, Saskatchewan, for $3.72 million. It is a case that contained 16 sealed boxes with 48 packs per box, more than 10,000 cards total, and provided the ability to pull out a stack of Gretzky rookie cards. It was a story of discovery, nostalgia and treasure hunting until the original auction winner didn't pay the bill.

Thanks to this unpaid bill, collectors now have another chance.

The director of sports auctions for Heritage, Chris Ivy, said the auction house discussed options for moving forward with the consignors of the case and ultimately decided to put it up for sale again in the upcoming winter sports catalog auction, in a turn of events that is increasingly bizarre Story.

After beating the Red Bulls to stay up late and win the first auction, Jack Arshawsky told CBC in April that his passion for the hobby disappeared when he saw the reaction of others who lost in the case . He said he paid $3 million of the total price up front, while Heritage held the case in its vault until the outstanding balance was paid.

However, according to Heritage Auctions, Arshawsky has not made any payment.

“I can say that the winning bidder never made any payment or deposit of any kind to Heritage,” Ivy said via email.

Arshawsky claimed to have pitched the case to prominent business owners and celebrities in an attempt to find a suitable buyer for it, but was unsuccessful.

“I just hope whoever gets it is someone who really appreciates this type of item,” Arshawsky said The athleteand points out how seriously collectors take such rare finds. “They live and breathe it. … For them it’s like a religion.”

Arshawsky said he had no regrets about taking part in the bidding process.

“It was actually a lot of fun,” he said.

Before bidding begins for a heritage auction, each participant is vetted by the company to ensure they are creditworthy, Ivy said. After winning an auction, a buyer will receive an invoice via email within 12 hours of the end of the auction detailing all costs associated with the purchase. Typically, a buyer has a two-week window to pay for the item, Ivy said.

It is extremely rare for someone to be unable to close a sale. That happened in less than 1 percent of Heritage auctions, Ivy said.

“We have never had a situation like this where a buyer went to the press and essentially announced that they wanted to sell the item before making any payment for it,” Ivy said. “It’s very, very strange circumstances.”

“It's just unfortunate that this gentleman took part and apparently either had no intention of doing so or was unable to pay for it,” Ivy continued.

After exhausting all options to complete the sale with Arshawsky, the Saskatchewan family that consigned the cards decided against legal action and agreed to put the card up for auction again, Ivy said.

Ivy added that the botched sale is not expected to negatively impact the value of the case. Despite the extensive media attention given to the article, no one has come forward with additional unopened cases, which Ivy says supports the belief that this is the only one.

“When you deal with a unique piece like this, you realize the true value and rarity in it. It will be interesting to see how it works,” Ivy said. “I think it will be in the same range – and maybe 20 percent, one way or the other. There’s a chance it could sell at a higher price.”

The collection will be auctioned again this weekend.

In May 2021, a Gretzky rookie card in Gem Mint PSA 10 condition, of which there are only two in the world, sold for a record price of $3.75 million. Heritage estimates there are approximately 27 Gretzky cards in the case, although their condition is unknown.

A family in Saskatchewan discovered the unopened suitcase while cleaning out a cluttered guest room in their father's home. There were 15 bidders for the box at the first auction last February, Heritage told the media at the time. When the final bid of $3.72 million was set, the family – who wished to remain anonymous – were said to be thrilled and “overjoyed” with the offer. It was one of the most expensive items the auction company has ever sold, Jason Simonds, the company's sports card specialist, told CBC News at the time. Heritage sold Babe Ruth's 1932 game-worn “Called Shot” jersey in August for $24 million, a record for a piece of sports memorabilia.

The 1979 O-Pee-Chee case was described as the “Holy Grail” of all post-1970 sports by Steve Hart, the owner of Baseball Card Exchange who authenticated the case.

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(Photo: Courtesy of Heritage Auctions)