Jake is another Beanie Baby currently making the rounds on the internet “rarest beanies” lists. How it made that list in the first place is puzzling, other than a lack of research and just looking at the highest prices Beanies are being listed at, and everyone copying everyone else.
Many believe that Jake has “error tags”. While there are some errors on some tags, they were mass produced and are NOT considered rare by collectors. It’s pure internet hoax.
- There are punctuation & spacing issues. These were printed in the millions and do NOT add any value.
- Gasport instead of Gosport – Gasport misspelling was on many swing tags, and as such does not affect the value.
- Ty intentionally put a space before the exclamation point.
- The year on the tush tag vs inside the swing tag may be different – this is normal. The tush tag gives the year Ty copyrighted the Beanie name and will always stay the same on all Beanies with that name. The swing tag date is a made-up birthdate, could be of a secretary, friend, event, etc.
- KR on the tush tag does not mean it was made in Korea, KR1965 does not mean it was for the Korean market. Jake Beanie babies were never made in Korea and there is no Korean market. The “KR” is part of the patent info.
- Oakbrook written as one word, not 2 – that is how Ty intended it to be on both Jake’s swing tag and tush tag. It’s not an error.
- Stamp inside the tush tag that says 453 (or other number) – the stamp is referred to as a “factory” stamp, which indicates which factory these beanies were produced at, and is really not important. The exception would be the different stamp numbers inside the Peace Beanie babies tush tags.
- The star on the tush tag – the star was added on 4th generation tush tags – millions were made, again, not an error.
You’ve seen high sales? So have we, but they’re fake. Sometimes it’s a seller trying to keep the rumors going. They set up a listing and have a friend buy it. Sometimes it’s a vigilante buyer trying to hurt a seller. Money laundering also happens but not as often as a few years ago.
Where is all of this misinformation coming from? In 2014 (some say 2013) a list of rare beanies appeared on a click bait “news” site. The information spread like wildfire amongst resellers who do not know the hobby. Every few months a new list comes out from some website trying to get easy click bait traffic. They change a few details, change out a few Beanies and get it 99% wrong.
Why do we see alleged high dollar “sales” on eBay? First, we have to separate what looks sold from what sellers are asking. Sellers can ask whatever they want. The high dollar asking prices are from people who believe what they read on the internet. You know, because everything you read on it is true. The alleged “sold” prices are a different matter. They usually fall into 5 different categories.
- Seller sets up a “fake” sale and has someone “buy” it to keep the rumors going. Remember, payment does not have to be made for it to show sold.
- Vigilante bidders trying to teach the seller a lesson. This can only happen if the seller has “make an offer” or doesn’t have instant payment required. The buyer never pays. Our understanding of this is two-fold. One, to get the the item off the market. Two, hoping that the seller has to pay final value fees before filing non paying bidder.
- Money laundering – yes, it happens. Don’t understand it? Watch Breaking Bad.
- Black market items – this is a new one that has been passed around from collectors of other items. We have no idea how that works or if it’s been proven.
- Buyer scams
So, let’s take a look at some high prices and dig into the details.
The first one shows $13,999 with a best offer.
Let’s look inside:
0 feedback seller and best offer accepted. The listing history shows it was set up as a private listing so we can’t even check the buyer. No feedback has been exchanged. No sale. This also shows the item has been relisted by the seller.
0 feedback seller and 1 bid with best offer accepted. Let’s look further at the buyer.
At first glance this one looks better than most. Decent feedback seller. However, no feedback has been exchanged. Fake sale. What does this tell us? It wasn’t paid for. More than likely this was a fake sale. No one is going to spend this type of cash from a newbie seller when it’s available for much, much less from many well established sellers.
This looks like a decent seller with a lot of feedback – but the listing history shows it was set up as a private listing so we can’t even check the buyer. And this item has been relisted. There’s been no feedback exchanged. No sale.
Next set of sold/completed listings:
The first one shows as an auction style listing with 3 bids and sold for $3,050.
Let’s look inside:
0 feedback seller – let’s look at the 3 bids history.
The first 0 feedback buyer is “Not a registered user” – and it appears he was bidding up his own price. The final buyer also has 0 feedback, and is “Not a registered user”. No feedback has been exchanged AND the item was relisted. No sale.
When we clicked on the listing that shows $2,977 with a strike-through it, which means a best offer was accepted – The “We looked everywhere” page is displayed. eBay knows it was a fake sale and removed the listing.
0 feedback seller, best offer accepted and it’s been relisted. The listing history shows it was set up as a private listing so we can’t even check the buyer. No feedback has been exchanged. No sale.
Again, 0 feedback seller, and best offer accepted,
The buyer does have some feedback, but is “Not a registered user”. No feedback has been exchanged. No sale. Again no one is going to spend this type of cash from a newbie seller when it’s available for much less from others.
Seeing the pattern yet? We’ll leave this here because we could show you the same thing over and over and over.
The rumors regarding Jake, Curly, Valentino, Peace, Halo, Gobbles, Millennium, Glory, Boxed McDonald’s Teenie Beanies, error tags, etc., is purely click bait. If everyone is highlighting the same errors and the same Beanies then just how rare could they possibly be? There ARE rare beanies. It’s just that these are NOT the rare ones.
So what should Jake sell for? Recent TRUE sales show this:
As you can clearly see, these prices are a far cry from the thousands of dollars claimed by these articles.
We like to say this. If these lists were accurate every expert in the hobby would be rich and we wouldn’t be answering questions.
Check out Jake’s Beanie Fact page.
For your convenience 3 Beanie experts research and update the Beanie Babies Price Guide. They also run a very large Beanie Babies Collectors Facebook Group to buy/sell/ask questions that aren’t covered in our many articles.