Sid Luckman jersey auction

[javabob123]

Re: Sid Luckman jersey auction

Greetings:

Jamie: What's the significance of Dave Bushing? Curious.

I'm open to suggestions, but $10,000 is on the board after one day...how much can an auction site really bring in (after commission)?

Thanks,

Java

[both-teams-played-hard]

Re: Sid Luckman jersey auction

$10,000 with nine days left. Starting bid was $15. I bet Luckman never made 10 grand for a full season with the Bears.

[josports]

Re: Sid Luckman jersey auction

Java you are correct 10k in the first day is a great start on the jersey. Dave Bushing is a vintage sports dealer.

You will have alot of interest in the jersey as you should. I will be watching the jersey close with interest. If you want to talk more about this particular jersey and my thoughts you can email me:
officialjosportsinc@hotmail.com

Jarrod

[34swtns]

Re: Sid Luckman jersey auction

Next to a Halas jersey..................
it just doesn't get any better than this.

Easily the most amazing and historically significant jersey this Bears collector has EVER seen. Good luck with the sale, javabob!

[aeneas01]

Re: Sid Luckman jersey auction

Greetings:

Jamie: What's the significance of Dave Bushing? Curious.

I'm open to suggestions, but $10,000 is on the board after one day...how much can an auction site really bring in (after commission)?

Thanks,

Java

dave bushing is a sports memorabilia collector and dealer - i think the post that referenced bushing was meant to be taken as an alert that your jersey has come to the attention of those (including bushing) that make a living purchasing and selling rare, vintage sports items - those that are well versed in spending significant sums for special items. bushing is also a sports memorabilia authenticator so if he is indeed bidding on your item i would assume it implies that he believes that it's the real deal and is well aware of its potential value on the open market.

for more on bushing and the folks he works with (known as mears), you can check out this link to their website store.

http://www.mearsonline.com/forsale/

as far as your jersey is concerned, it looks like a real find to me but i am by no means an expert when it comes to vintage jerseys. nonetheless, i did not find anything on the net that would appear to rule out your jersey belonging to luckman - quite to the contrary in fact. one thing i did find very interesting is that it appears luckman was the only chicago bears player to have ever been issued the number 42. if this is true, which the bears' alltime roster seems to support, then it would appear that your jersey could have only belonged to luckman - in other words, it can't be argued that perhaps it's a game used jersey that was issued to and worn by another player after luckman had retired. imo this is significant.


here's a vintage college all-star jersey, circa mid 40s, that sports the same "may & halas" tag as yours.






here's a photo of a vintage bears jersey, said to be circa late 40s despite early 40s font, that also sports the same "mays & halas" tag as yours - it sold for $5,500 in february at auction. it was described as most likely belonging to hank norberg and/or ed cody. needless to say, these players don't even begin to enter the conversation when discussing a player like luckman who was one of the greatest players in nfl history and is an nfl hall of famer.





here's a photo of one of luckman's jersey hanging in the hall of fame - i'm sure the hall would love to get their hands on your jersey...




here are a few photos of luckman....













as i mentioned before, it seems to me that you have a real winner on your hands - as far as i can tell the only scenario that could undermine the authenticity of your jersey is if a jersey expert can demonstrate that this exact style of jersey, including the tags, was also known to have been used by high school and/or college teams during that era. i only mention this because this is often the case when it comes to vintage football helmets from this period - for example, many of the early riddell rt helmets that the pros wore were also worn by college and high school teams - exact same color schemes, exact same models.

but i'm pulling for you - i hope your jersey proves to be the real deal and that it brings a record amount at auction! your story is just another example of why collecting sports memorabilia is such great fun!

...

[javabob123]

Re: Sid Luckman jersey auction

First of all, thanks to everyone who has provided support and information. I'm really blown away by your community.

Needless to say, my head is spinning. At 10:45 Sunday night, I decided to finally sell this old jersey. Less than two days later, I've been contacted by collectors, people indicating they represent the Bears, people indicating they represent the Hall of Fame...about 120 e-mails over all.

It seems to me that the advice I recieved earlier is starting to make sense (I have already been offered 27,500) and I am giving strong consideration to pulling it, getting it authenticated and taking it to an appropriate auction house.

My concern: Is this a Barry Bonds baseball? That's an overstatement I know, but let's face it, the action on this thing is out of control.

Another alternative: Get it evaluated in Las Vegas or LA (does anyone know a reputable dealer) and let it ride. After all, the e-bay commission is low and the big players would seem to be at the table already. I'm sure the big auction houses send 1099's. Does e-bay?

Thanks again everyone. You guys are awesome.

[34swtns]

Re: Sid Luckman jersey auction

Aaaaaannnd, it's gone.

Wise move, java. An ebay listing is such an undignified way for one of the most legendary jerseys in NFL history to change hands......that thing needs to be celebrated and offered up in grand fashion.

Thanks for joining us on our humble forum and please let us know what you decide to do with it as I'm sure several members here would still like a chance at owning it.

[aeneas01]

Re: Sid Luckman jersey auction

i noticed that you ended your ebay auction - imo that was a smart move.

so what are your plans? before paying for the services of a "professional authenticator" i would suggest that you contact the chicago bears directly to see if there is someone within their organization that can speak authoritatively about your jersey. perhaps track someone down within the bears' organization that can actually compare, physically, your jersey with one they have archived. if you can swing this, and get the bears to issue a letter of authenticity on team letterhead, i think such documentation would dwarf anything a "pro" authenticator could provide and would certainly further enhance the value of your item. no doubt it would be worth the cost of a flight to chicago.

as far as the bonds thing is concerned, it sounds like you are worried that if you don't jump on a big offer something could surface to queer the deal. it also seems that you are worried about tax implications.

imo your jersey is nothing like the bonds sitch and patience on your part will only increase the amount you will eventually realize on the sale. contact the bears, get them to issue you a team letter and then list your jersey with a reputable sports memorabilia auction house after negotiating a reduced commission cut - keep in mind that your jersey will bring a tremendous amount of publicity and prestige to the house that lists it.

as far as taxes are concerned, i would recommend that you get used to the idea that you will owe capital gain taxes on the transaction. speak with a good tax accountant, pay the tax bill, and enjoy your profit without having to look over your shoulder for the rest of your life. ebay may not report such a sale to the irs but it would likely surface if you ever get audited down the road - penalties and interest, not to mention that not reporting it would most likely smack of tax evasion, is something i'm sure you will not like facing down the road. on the up side you will probably, and legally, be able to circumvent sales tax if the jersey is sold in a state where you do not reside.

keep us posted.


...

[nyjetsfan14]

Re: Sid Luckman jersey auction

I am undoubtedly in the minority on this one but to me (meaning this is strictly my personal opinion) it would be an absolute shame to see this type of piece pimped by an auction house (and filling their pockets with exoberant buyer/seller fees) only to find it's way into a persons private collection. A piece like this should be on display in the HOF or with the Bears for fans young and old to enjoy. Hopefully you can do that and maximize your profit at the same time. Either way, thanks for sharing and all the best in your endeavors with the jersey.

[ndevlin]

Re: Sid Luckman jersey auction

I have a feeling this will be bought....authenticated...and resold again.

[treant985]

Re: Sid Luckman jersey auction

...as far as taxes are concerned, i would recommend that you get used to the idea that you will owe capital gain taxes on the transaction....

A sidenote...would he only have to pay capital gains on the $$ from selling it? Seems like it'd just be straight up income since it's not an investment, thus taxed at a higher rate than CG.

[javabob123]

Re: Sid Luckman jersey auction

Again...great feedback and advice.

One thing for sure...I am going to slow this whole process down and proceed carefully.

A couple of auction houses have been all over it and private offers have hit 40K from people that I'm sure you all know. I've been in the "business" for two days and I already know a number of the major players...thanks to you guys.

So, I'll probably talk to the Bears - a dealer who claims to represent them has contacted me, but I'll go direct. Then, I'll make my best deal with one of the major auction houses. Then, I'll probably get hooked on this action!

Thanks again and I'll keep you posted.

One more thing - How big is the American Memorabelia Football Show - September 18 in Vegas?

rjtwh@yahoo.com if you need to say something off the board.

[otismalibu]

Re: Sid Luckman jersey auction

I've been in the "business" for two days and I already know a number of the major players...thanks to you guys.

Just search those names on this site and you'll have even more information on which to base your decision. In case you already haven't done so

[ChrisCavalier]

Re: Sid Luckman jersey auction

Hello javabob,

I sent you an email directly. Please let me know if you received it.

[aeneas01]

Re: Sid Luckman jersey auction

A sidenote...would he only have to pay capital gains on the $$ from selling it? Seems like it'd just be straight up income since it's not an investment, thus taxed at a higher rate than CG.

if the seller was engaged in the business of buying and selling items (think the mears store, an antique dealer, power ebayers, etc.) then his profit on the sale of the jersey would be treated as, as you say, "straight up income". but if the seller is someone that wants to simply sell an item that has been in his possession for a long time due to an inheritance, a gift, a past purchase, a discovery, etc. then the profit would be treated as a capital gain - most likely a long-term capital gain. the trick will be establishing a fmv. at least that's my understanding...

javabob123:

here are some big-buck game-used jerseys that have sold at auction during the past few years - imo none are as significant (read valuable) as your jersey...

jim brown - $70,000



johnny unitas - $59,000



ray nitsche - $39,000



johnny unitas - $37,000



johnny unitas - $20,000