SecondMarket Values Facebook Below SharesPost Highs

Facebook shares closed at $31.50 apiece in the latest auction on SecondMarket, lower than the $33 closing price on SharesPost this week.

TechCrunch Co-Founder Michael Arrington reports that Facebook shares closed at $31.50 apiece in the latest auction on SecondMarket. While that’s a high for that particular trading venue, two recent auctions on SharesPost closed at higher prices.

That price might be the highest ever seen on SecondMarket, but not overall. The most recent one closed at $33 per share, and a prior auction had a slightly higher price. Regardless of whether or not you consider the shares to have dipped in value, possibly due to reverse arbitrage, Facebook still has a pretty big valuation.

Here’s a copy of the SecondMarket email Arrington shared on TechCrunch:

This week’s SecondMarket auction successfully cleared 257,422 shares at a per share price of $31.50. Read more details in the attached auction results report.

Next week’s auction will require a minimum sale and minimum purchase of 10,000 shares. If you are bidding for fewer than 100,000 shares, you are required to open a brokerage account with SecondMarket. Please email accounts@SecondMarket.com to receive a Brokerage Account Opening Form and return the completed form by Monday, March 7, 2011 at 5:00 PM EST.

Please email your completed Seller or Buyer Information Forms to fb@SecondMarket.com by Wednesday, March 16 at noon EST. To verify receipt of your order, you must receive a confirmation email from fb@SecondMarket.com. If you do not receive a confirmation email, your order has not been received by SecondMarket and may be excluded from the auction. Responses are typically sent within one hour.

Next Week’s Auction Timeline:

– Friday, March 11 at 7:00 PM EST – SecondMarket will begin accepting Seller Information Forms, Buyer Information Forms and Brokerage Account Opening Forms

– Monday, March 14 at 5:00 PM EST – Brokerage Account Opening Form due, if bidding for fewer than 100,000 shares

– Wednesday, March 16 at 12:00 PM EST – Seller and Buyer Information Forms due

– Wednesday, March 16 at 5:00 PM EST – Participants informed of auction results

– Wednesday, March 16 at 8:00 PM EST – Transaction documentation distributed to buyers and sellers

– Thursday, March 17 at 5:00 PM EST – Wire of 100% of gross purchase price to escrow account due, if allocated fewer than 100,000 shares

– Friday, March 18 at 4:00 PM EST – Completed transaction documentation due from buyers and sellers

– Friday, March 18 at 7:00 PM EST – Notice sent to Facebook, Inc.

By reading this email, the recipient acknowledges and agrees that all of the information contained herein is confidential and that the recipient will keep this information confidential. The recipient further agrees that it will not copy, reproduce, or distribute this email in whole or in part.

Please contact us at fb@SecondMarket.com or 212.668.3919 if you have any questions.

Please note that the information in this email does not constitute an offer to sell to, nor a solicitation of an offer to buy from, nor shall any securities be offered or sold to, any person in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

Regards,

Terrence