Sep 28 2008
If you talk about it enough, will they buy? Apparently not -- at least in the case of the G.I. Joe prototype auction.
The hype started as early as January for the July auction held at Comic-Con 2003. $600,000 was touted in numerous news reports and press releases -- this was to be the most expensive toy ever sold. But that estimate was only a pipe dream, as poor Joe did not even get a bid at the much lowered starting price of $250,000. Perhaps the original high estimate scared some buyers off? According to news reports only around 30 were actually present for the auction.
The first action figure is still up for sale -- private offers will be entertained by owner Joe Levine, one of the Hasbro employees who helped come up with the unusual, at the time, concept of a boy doll.
Update:
From Heritage Auction Galleries: "We sold the first GI Joe prototype to Steve Geppi on Don Levine's behalf immediately after our San Diego auction for $200,000, and quickly sold the rest of the unsold material in Don's collection, a total of 13 pieces, to an investor group. Nine of those pieces have subsequently been resold, and so 11 of the original 15 are off the market."
