An online auction’s “extra innings” helped boost the final price for a historic home run ball hit by Shohei Ohtani to $4.4 million.
The auction for the baseball collectible struck by the ex-Angel-now-Dodger superstar ended Tuesday, Oct. 22. The home run made him the first player to hit 50 homers and steal 50 bases in a season. An anonymous seller of the Ohtani ball apparently was quickly cashing in on baseball history made on Sept. 19.
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This bidding, run by Goldin Auctions, used a “soft” closing much like the ongoing auction for another slice of Southern California history: the Ziggurat – an eye-catching federal campus in Laguna Niguel known for its pyramid-shaped office building. That bidding’s extra innings started in July.
The “soft” close is an online auction quirk that tries to recreate the energy a human auctioneer brings to a room full of bidders. Here’s how it works.
The Ohtani ball’s initial bidding went until 7 p.m. Tuesday night. That’s when the extended bidding kicked in – adding 30 minutes to the deadline whenever a new bid was made. It certainly stirred new activity.
Dodgers star Shohei Ohtani watches the flight of his two-run home run, his 50th of the season, during the seventh inning of their game against the Miami Marlins last Thursday in Miami. The ball, which gave him the first 50-home run, 50-stolen base season in MLB history, was retrieved by a fan and will go up for auction on Friday, with an opening bid of $500,000. (Photo by Megan Briggs/Getty Images)
The Ohtani ball auction started on Sept. 27 with an asking price of $610,000 – that’s $500,000 plus a 22% fee paid to the auction house. By Tuesday morning, 25 bids had pushed the price to $2.6 million – up 320%.
On Tuesday, there were 15 more bids that started 3 minutes before the initial 7 p.m. deadline. This activity upped the price by another $1.8 million. So these extra innings of bidding, lasting almost two hours, helped to add 71% to the final price.
All told, the Ohtani home run ball price ballooned 620% during the auction to an all-time high $4.4 million. The previous top price for a baseball is said to be $3.05 million paid in 1999 for a record-breaking Mark McGwire home run ball.
What are bidders thinking?
Ohtani’s global appeal means the buyer could be from anywhere. They’re acquiring bragging rights of ownership and betting the superstar’s career path continues to soar, helping to boost the collectible’s value over time.
What’s the catch?
Curiously, the government will have a final say in what happens after the auction.
Who owns the Ohtani ball will fall to the courts, which will decide who gets the sale proceeds. When the home run soared into the stands in Miami, a melee ensued as fans attempted to grab the souvenir. The person who gained control of the ball and put it up for auction is being sued by another fan who claims they possessed it first.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at [email protected]
