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Where is the $1.1M Sarah Palin XBox?

Palin XBox
Source: ebay.com
Palin XBox

It was the talk of the web. Even the Atlantic weighed in.

Somebody claiming to have a Microsoft Xbox360 autographed by former Alaska Gov. Sarah Palin two days before she left office put it up for auctionon Ebay...for $1.1 million.

It got one bid. For $1.1 million.

And then it disappeared.

There was much discussion on the blogosphere about what happened. Then came some knock-off Palin Xbox's on Ebay for $1,100, one tenth of one percent of the $1.1 million pricetag. The fauXbox sported forged autographs. But even they disappeared.

Palin XBox
Source: ebay.com
Palin XBox

The conspiracy theories commenced. The St. Louis Post-Dispatchwondered if the original console was removed from Ebay because it looks like Gov. Palin forgot the "h" in her first name. Assuming she actually autographed the thing.

Apparently there's no great mystery here. CNBC has learned that the $1.1 million listing price raised a red flag at Ebay, which pulled it off the website until the Xbox and the autograph can be authenticated. The company also wants to work with the seller on a method to pre-qualify bidders to avoid bogus bids. Both sides are working to re-list the item, so Palin fans, stand by!

Meantime, there's a lovely "rare" oil painting of the former Governor on the site.

Buy it Now...for $5,000.

Questions? Comments? Funny Stories? Email funnybusiness@cnbc.com