Pete Rose's copy of the document that banished him from baseball failed to meet its reserve price when the auction closed on Saturday night.
The document, signed by "Peter Edward Rose," as well as by then commissioner A. Bart Giamatti and deputy commissioner Fay Vincent, received bids up to $255,377, which includes a 10 percent buyer's premium.
But Ken Goldin of Goldin Auctions, told ESPN.com that it did not meet the reserve price, which has not been revealed.
Goldin said he thought it was the most important document in baseball history, but collectors apparently didn't think an original copy of the five-page document was close to the worth of the 1919 contract that sent Babe Ruth to the New York Yankees from the Boston Red Sox. That sold in 2005 for $996,000.
In the agreement, signed on Aug. 23, 1989, Rose does not admit to gambling on baseball specifically. The document made him ineligible for the Hall of Fame or to get a job in Major League Baseball.
Rose later admitted in his 2004 autobiography, "My Prison Without Bars," that he did in fact bet on the game while managing the Cincinnati Reds.
Items that did sell in the auction included a 1995-96 Michael Jordan game-used jersey, which went for $22,413. An expired American Express card, signed by Jordan on the back, was purchased for $3,146.
A game-used Roger Staubach jersey from the 1977-78 season sold for $14,271, Rickey Henderson's copy of his 1993 World Series trophy he won while with the Blue Jays sold for $9,434 and a bat used and signed by Derek Jeter in 2009 sold for $8,982.