Velvet Underground eBay Winner Prepares For “F++++!” Feedback Rating

Dec 12th, 2006 // 7 Comments

points us in the direction of this Globe and Mail article, which notes that the closely watched eBay auction for a rare Velvet Underground acetate (final price: $155,401) may have been a bust:

The fabled acetate of the Velvet Underground’s famous first recording is still worth only 75 cents (U.S.). This is because the highest bidder in a 10-day online auction for the fragile acetate that ended last Friday evening “has proved to be bogus,” a disappointed [acetate owner] Warren Hill said yesterday…

On the weekend [the store overseeing the auction] received an e-mail from the supposed winner who said a friend, unbeknownst to him, had, as a lark, bid on the acetate using his (the supposed winner’s) computer at work and account number. “Ohmigod, I’m so sorry,” the e-mail read in part. “I can barely afford gas for my car” let alone more than $150,000 for a 40-year-old disc of acetone-covered aluminum.

BV did some Internet sleuthing and thinks the bogus bidder was a gentleman named Oscar, who’s somehow involved with a soon-to-be-launched L.A. music site called Scenestar (he also lists about two gazillion “favorite bands” on his MySpace page, though the Velvets are left out). Does this make sense to anyone? If so, drop us a line at tips@idolator.com.

Velvet Underground record buyer a phony, not to mention a huge Hot Hot Heat & Interpol fan? [BrooklynVegan]
Reports that Velvet Underground pressing fetched $155,000 false [Globe And Mail]
Earlier: Lou Reed Frantically Trying To Set Up PayPal Account

  1. mikeisquixotic

    Doesn’t anyone else feel like something as significant as this VU acetate should be handled by a more professional auctioneer ie. Sotheby’s? Leave eBay to NES games and concert tickets…

  2. mackro

    Is there a reason Hill couldn’t have dealt with this at a real auction house instead?

    Would the cost of doing that be more or less than doing it through eBay?

    And at least with the former option, you wouldn’t have so much publicity such that joke bids and sabotage would be the only result. Sure, people would have to fly over to the auction, but this thing would have fetched five digits easily anyway. Those who could afford to entertain the idea of the acetate could probably afford the airfare easily.

  3. Ned Raggett

    You’ll find answers to some of your questions here — as a couple of the posters happen to know the seller in question.

  4. BlimpyMcFlah

    Maybe the highest bidder was a stooge, so as he pulls out, the VU record’s owner can sell to the next (real) high bidder outwith ebay, thus avoiding ebay’s cut of the profits.

    shiney shiney, shiney loads of dollars.

  5. j clicky clicky

    I can’t imagine the folks who run the Scenestars music blog will look kindly on that dorkus malorkus starting a music web site called Scenestar.

  6. Hahaha that was one interesting read

  7. Myspace….The old times LOL!

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