December 12, 2006 at 11:56:00 AM | more stories by this author
Despite unsuccessful eBay auction, Montreal man who bought rare, unreleased version of band's first album says he's still interested in selling it.
"Mechadaddy" might want to be a bit more careful about what his friends are doing on his computer.
An eBay user under that name made the winning bid of more than $155,000 last week for what is possibly the only copy of an unreleased version of the Velvet Underground's debut album, Velvet Underground & Nico.
But soon after Montreal resident Warren Hill learned that he would reap a windfall from an album he bought for 75 cents at a stoop sale in New York City, he was informed that the winner claimed his bid was bogus and was made by a friend who was using his computer.
According to the Toronto Globe and Mail, the eBay auction winner rescinded his bid via an e-mail to Oakland, California-based Saturn Records, the vintage record reseller Hill picked to manage the auction. "Mechadaddy" won the bid when the auction closed at 11:30 p.m. ET and sent the e-mail over the weekend, saying that a friend had jokingly bid on the 12-inch, nine-song acetate using his computer at work and account number.
"Ohmigod, I'm so sorry," the e-mail read in part, according to the paper. "I can barely afford gas for my car" let alone the winning bid of $155,401.
Hill said that he had expected the rare record to fetch between $10,000 and $30,000 and that he had suspicions that the bid would prove to be bogus once bids jumped over $100,000 on December 3.
"I kind of had my doubts early on...especially when the numbers started to jump more than we thought they would," he told the paper.
Hill said he plans to revisit the resale of the album after the holiday season. He plans to close Backdoor Records and Pastries, the business he owns in Montreal, and travel to Vancouver to visit his parents.




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