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Adverse selection, seller reputation and buyer insurance in online auctions for 1960s-era collectible baseball cards

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  • M. Ryan Haley
  • Lee Van Scyoc

Abstract

We investigate the differences between Beckett book values and eBay auction prices using an original data set of 876 auctions for 30 baseball cards from the 1960s era. We find that cards of lower quality generally sell (on eBay) above book price, whereas cards of higher quality generally sell below book price. We find that both the presence of buyer insurance and the number of bids increase eBay prices relative to book values and that the seller's reputation and the number of bids increase the probability that the eBay price will be greater than the corresponding book value.

Suggested Citation

  • M. Ryan Haley & Lee Van Scyoc, 2010. "Adverse selection, seller reputation and buyer insurance in online auctions for 1960s-era collectible baseball cards," Applied Economics Letters, Taylor & Francis Journals, vol. 17(14), pages 1341-1345.
    • Handle: RePEc:taf:apeclt:v:17:y:2010:i:14:p:1341-1345
    DOI: 10.1080/13504850902984303
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    Cited by:

    1. Jannett Highfill & Kevin M. O’Brien, 2018. "eBay Memorabilia Auctions vis-à -vis Predictions for the 2016 U.S. Presidential Election," The American Economist, Sage Publications, vol. 63(1), pages 71-78, March.
    2. Eric Le Fur, 2021. "Collectors’ motives in the context of wealth management," Journal of Asset Management, Palgrave Macmillan, vol. 22(5), pages 326-337, September.
    3. Krügel, Jan Philipp & Paetzel, Fabian, 2024. "The impact of fraud on reputation systems," Games and Economic Behavior, Elsevier, vol. 144(C), pages 329-354.

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