The market for scandal-ridden finance merchandise keeps getting pricier.

Among the littany of Bear Stearns golf balls, teddy bears, and tote bags on eBay, one of the top price getters is a holiday card signed by recently indicted former Bear Stearns hedge fund manager Ralph Cioffi, with the bidding now at $81.

Cioffi, was arrested and arraigned on charges of conspiracy and securities fraud last week after a federal criminal probe into the collapse of two funds he oversaw.

The disintegration of Cioffi’s funds helped kick off the credit crisis last summer, but we’re stumped at what’s behind the high bid for the holiday card.

The eBay bidders seem to find it even more appealing than the business card of Samuel Israel III, the fugitive Bayou Group hedge fund manager who engineered the $2 trillion hedge fund industry’s most brazen and long-running fraud and most recently faked his suicide. Israel’s card sold for just $61 last week.

So how do you think Cioffi’s card became more valuable Sam Israel’s?

Pier 1 Imports Inc finally came to its senses and dropped its much-criticized bid for Cost Plus Inc, prompting a nearly 12-percent jump in its stock price and an upgrade by an analyst.

Shares of Pier 1 surged after the home furnishings company withdrew its bid, saying it was unlikely it would be able to acquire a majority interest in Cost Plus “at a price that would make sense” for shareholders.

D.A. Davidson upgraded Pier 1 to “buy” from “neutral” after the news. Since revealing its bid on June 9, Pier 1’s stock had plunged 23 percent through Tuesday.

“Management can now begin to move from defending an ill-timed and ill-orchestrated action to continuing to focus on its turnaround,” Raymond James analyst Budd Bugatch said in a research note. “More importantly, it can begin rebuilding its credibility that was unfortunately damaged by this affair.”

Pier 1’s $88.4 million all-stock bid was slammed by analysts who said it would distract Pier 1 as it was seeking to turn around its own business. The operator of Cost Plus World Markets rejected Pier 1’s proposal, saying it was not attractive financially or strategically.

D.A. Davidson upgraded Pier 1 to “buy” from “neutral” after Pier 1 withdrew its bid.

While the M&A market has seen a surge in big-brand strategic dealmaking — ranging from the merger of Mars and Wrigley, to Hewlett-Packard and EDS, and InBev’s bid for Anheuser-Busch — there have been a few flailing attempts, too.

“There are companies that are less-well positioned and less likely to prosper making unsolicited or hostile bids for even weaker companies. These are companies that are sucking wind that are just trying to buy revenues and amass something larger just to hang on,” said one head of mergers and acquisitions at a U.S. investment bank.

Now, when will Blockbuster Inc come to its senses and walk away from its offer for Circuit City Stores Inc? Shares of Blockbuster rose nearly 13 percent on Tuesday amid investor speculation that the movie rental company’s offer for Circuit City may be dropped. It rose another 3.8 percent on Wednesday.

Circuit City posted a wider-than-expected quarterly loss last week and said its cash position fell to $92.2 million from $364.1 million a year earlier. Yet, Circuit City investor Mark Wattles told Reuters on Tuesday that Circuit City has received buyout interest from several strategic and financial bidders and a sales agreement could be announced over the next month.

Investors seem to be hoping that Blockbuster isn’t one of them.

InBev NV hesitated on Wednesday to put an expiration date on its $46.3 billion offer for Anheuser-Busch Cos Inc, but hinted that its bid may not have an indefinite shelf life.

The Belgian brewer reminded Anheuser-Busch that “time is of the essence” for the offer and that it remains available to discuss its $65 per share offer. InBev said it had commitment letters for the deal’s financing from 10 banks, so it’s ready to pull the trigger on a deal at any time.

Without putting a definitive walk-away date on the offer, InBev kept its friendly demeanor. But the reminder makes clear that its interest in a cold Bud may not last forever.

Anheuser-Busch’s board of directors met last week to discuss the proposal, which would be the third-largest foreign takeover of a U.S. company ever. Yet, the maker of Budweiser and Michelob has yet to respond to the bid.

There’s only so long that Anheuser-Busch can utter the usual clichés that it will review the bid thoroughly and respond in due course before InBev, and even BUD shareholders, get impatient.

Although Anheuser-Busch has few takeover defenses to thwart a hostile bid, it may be difficult for InBev to bring the heat to the all-American beer, with politicians putting in their two cents and the possibility of union and employee resistance. Will it risk a hostile offer or look for another target?

Warren Buffett, who owns about 5 percent Anheuser-Busch, said the takeover saga remains an “interesting spectator sport.” For now, at least.