Velvet Underground acetate auction falls through

An online auction of a rare Velvet Underground acetate recording owned by a Montreal music collector went to a fake bidder Dec. 8. The final bid of $155,406 was entered in an eBay auction by a bidder with the eBay user name ?mechadaddy.? Wire services began to report Dec. 12 that the sale, which had been hosted by Saturn Records, went to a bidder who didn?t plan to pay for the item. Montreal resident Warren Hill, who bought the recording at a New York yard sale back in 2002, had enlisted Saturn to help him sell the musical artifact. The auction billed the piece as ?arguably the rarest and most important rock ?n? roll pop-art artifact in the world.? A total of 253 bids were made on the piece

In September 2002 Hill, a Kenny Rogers Roasters employee
in Montreal, Canada, was perusing a box of records at a Chelsea, N.Y.,
street sale when he happened upon a nice Lead Belly 10-inch on
Folkways, a water-damaged copy of the first Modern Lovers LP on
Beserkely, and a brittle 12-inch piece of acetone-covered aluminum with
the words ?Velvet Underground. 4-25-66. Att N. Dolph? written on the
label. He purchased the three records for 75 cents each.

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