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Tom Petty / Heartbreakers Photo sells for a record $7800 at RR Auction!

For those who say the market is soft - this 10x13" fairly rushed signed photo with so so contrast especially in the Petty went for a whopping $7800 yesterday at RR Auction.  Am I missing something or is this worth about 500 bucks?  Petty was a fairly generous signer during his life too. 

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Congrats to RR Auction and the consignor. Wow!

same idiot who paid 4 k for a signed jackson brown album 

$4k for a Jackson Brown, wow! I may need to start consigning stuff with those prices

$7800 is just nuts, maybe they just got carried away in the moment. 

that is just  insanity with a capital I.  I feel a lot better now thinking about items I have over bid on !!

Same, paying over the odds when getting carried away has made me cringe a couple of times but these 2 items would give me endless sleepless nights

Quite.  I feel rather virtuous now.  I wonder whether the winner will actually pay or whether it will be reentered for sale at r and r in the future. Its all fun and games until the ccard bill arrives

Very true, it will be interesting to see if this and the Jackson Browne items reappear although it could just be someone who has more money than sense. I could understand for a rare item or something like the Beatles but cannot see how even in 20 years they would ever make their money back if resold.  

but it has to be 2 people bidding with more money than sense unless one of the bidders is a friend of the vendor, trying to bump up prices which could be a possiblilty because there is no rational way  imo that  this could sell for so much money, - thats more than a top beatles set at tracks or 2 vintage signed r stones sets, - something could be  rotten in the state of Denmark

Hadn't thought about that and it would make sense that shill bidding would inflate prices. A basic eBay or Internet search would show the asking and selling price for similar items so you'd think one of the buyers would research and then realise the price was too high. As you say, something rotten and I imagine 1 or both may reappear soon

I wouldnt be surprised if schill bidding takes place at quite a lot of auction houses when you get these nonsenical sky high prices

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