A Chinese court has canceled an online auction selling a criminal’s goods after the bid price got out of control, possibly due in part to a rare Yu-Gi-Oh card via IGN. As reported by the South China Morning Post, a Chinese court held an online auction selling the frozen assets of a man convicted of embezzlement, but the auction was canceled after reaching a bid price of 87 million yuan, which is approximately US$13.4 million. .
The rapidly rising bids are believed to originate from the Blue-Eyed White Dragon Yu-Gi-Oh card, which is believed to be one of the 500 limited edition cards printed in 2019. The collector values it between $31,000 and $46,000 if the card is genuine. , although the card in question is not certified. The card reached $13.4 million USD within 30 minutes and prompted the organizers to cancel the auction because it significantly exceeded the card’s market value and was suspected of some form of fraud.
“This auction has been suspended,” the Alibaba forensic auction online platform said in a statement. “Price is severely inconsistent with the actual bid price and malicious bidding behavior is suspected.”
The same man had multiple items up for auction, including a PS4 studded with gold and diamonds, and multiple Nintendo Switch systems. The exact reason why the Blue Eyed White Dragon’s bid price has gotten so out of control is currently unknown, but the trading card craze has gotten out of hand in the United States. Some companies have had to take action against aggressive card collectors, such as Target no longer selling cards in stores and eBay removing the ability to withdraw bids on a trading card.