Iowa yanks Michael Jordan rookie card from auction

A Michael Jordan rookie card among the abandoned safe deposit box valuables Iowa's treasurer had listed in an auction was pulled for an appraisal.

Why it matters: It could be worth hundreds of thousands of dollars but is also one of the most commonly faked sports cards out there.

Catch up fast: Over 10 years of efforts to reunite owners or heirs with their safe deposit box items have failed.

• Auction revenues will be held by the state indefinitely for the rightful claimants.

State of play: Axios noticed the rookie card soon after auctions began on May 30 and asked the state if it planned to have it appraised.

• The lot — which includes hundreds of other sports cards, some coins and currency — was up to $2,250 Thursday.

What's happening: Because of spiking interest, the state decided late yesterday to have the card professionally evaluated to avoid auction disruptions, Russ Trimble, the treasurer offices' chief of staff, tells Axios.

• Bidding for the lot with the card will be cleared and the auction for the other items will restart as soon as today.
• It could take up to six months for the evaluation and the card to return to the market, he said.

What's next: The auctions for other items continues until next week, and the state will decide what to do with the card after it's appraised.