Ichiro jersey at $11K and counting

[prichmond]

Re: Ichiro jersey at $11K and counting

yes game issued. I have been burned on this befrer because i did not take the time to read the fine print, or actualy the entire description. Most of what i have learned is by by screwing up.
pete

[frikativ54]

Re: Ichiro jersey at $11K and counting

Looks like the Mariners are riding the Ichiro money train, just listed a bunch of stuff.

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153173126&prmenbr=33072944&aunbr=153519836

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153177266&prmenbr=33072944&aunbr=153523976

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153177806&prmenbr=33072944&aunbr=153524516

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153178256&prmenbr=33072944&aunbr=153524966

http://auction.mlb.com/cgi-bin/ncomm...unbr=153525551

Thanks for the links. I wouldn't have noticed otherwise.

[frikativ54]

Re: Ichiro jersey at $11K and counting

Interesting. team used no mention of game used.
pete

I think you meant team issued. I'll be curious to see how much people are willing to pay for stuff that's not even game used. I mean, maybe there's an Ichiro collector or two who can afford issued but not used, but still, I think $1500's insane for a shirt that's likely never even touched Ichiro.

-Frik

[prichmond]

Re: Ichiro jersey at $11K and counting

Interesting. team used no mention of game used.
pete

[Dach0sen0ne]

Re: Ichiro jersey at $11K and counting

Looks like the Mariners are riding the Ichiro money train, just listed a bunch of stuff.

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153173126&prmenbr=33072944&aunbr=153519836

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153177266&prmenbr=33072944&aunbr=153523976

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153177806&prmenbr=33072944&aunbr=153524516

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153178256&prmenbr=33072944&aunbr=153524966

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=153178841&prmenbr=33072944&aunbr=153525551

[rj_lucas]

Re: Ichiro jersey at $11K and counting

Closed at $20,125, with a $4K pop in the final 30 minutes. Impressive.

Rick
rickjlucas@gmail.com

[jake33]

Re: Ichiro jersey at $11K and counting

I wonder if you would have committed to bid $11,000 how that, if that bidder must think that $16,000+ is "outrageous" for the Ichiro jersey.

We all have a breaking point to walk from an auction, but seriously if you wanted to jersey for $11,000 and were willing to buy it for that price, how could you possibly let yourself get out bid for $16,000?


In the year 2025 what is that jersey worth? $150,000? I probably would rather pick up a vintage Roger Maris for that price, or Buckner 86 World Series jersey for that.

[sox83cubs84]

Re: Ichiro jersey at $11K and counting

6 1/2 hours until closing, top bid is now $14.765.

Dave Miedema

[cliffjmp33]

Re: Ichiro jersey at $11K and counting

This is true, however, when you are bidding in an auction from MLB.com auctions, you are receiving a product in return. Since there is no active fluid market of Ichiro jerseys, the actual ending value of the product on the auction is considered the Fair Market Value.

So in the case of this jersey, you would not be able to deduct any of this amount as a charitable contribution.

Now say you were bidding on a $50 gift card in a charity auction, and you win the item for $125. Since the FMV of the item is $50 and is actively selling at that price, you would be able to deduct $75 as a charitable contribution, as that is the difference between the actual FMV and the ending price for that particular item.

-Andrew

Thanks for all the great help guys. By no means do I have even a 100th of the money saved up to bid on the Ichiro, but I was always curious about auctioned items when they are for a cause.

[tilley72]

Re: Ichiro jersey at $11K and counting

The IRS rule states that if the organization is a 501(c)3, you can claim a charitable deduction for the difference between what you paid and the market value of the item. If the fair market value of the item is $1 and you paid $100, you can claim a deduction for $99.

Rick
rickjlucas@gmail.com

This is true, however, when you are bidding in an auction from MLB.com auctions, you are receiving a product in return. Since there is no active fluid market of Ichiro jerseys, the actual ending value of the product on the auction is considered the Fair Market Value.

So in the case of this jersey, you would not be able to deduct any of this amount as a charitable contribution.

Now say you were bidding on a $50 gift card in a charity auction, and you win the item for $125. Since the FMV of the item is $50 and is actively selling at that price, you would be able to deduct $75 as a charitable contribution, as that is the difference between the actual FMV and the ending price for that particular item.

-Andrew

[rj_lucas]

Re: Ichiro jersey at $11K and counting

Just had a question and not sure if anyone has the answer, but figured someone could. When it comes to auctions, with the money going to charity, can the buyer then put that purchase as a tax write off?

I also hope it keeps climbing since the money goes to a great cause.

The IRS rule states that if the organization is a 501(c)3, you can claim a charitable deduction for the difference between what you paid and the market value of the item. If the fair market value of the item is $1 and you paid $100, you can claim a deduction for $99.

Rick
rickjlucas@gmail.com

[sox83cubs84]

Re: Ichiro jersey at $11K and counting

Less than a day remains. What will the ending price be? Anyone want to hazard a guess?

I'll predict $16-17K.

Dave Miedema

[frikativ54]

Re: Ichiro jersey at $11K and counting

Less than a day remains. What will the ending price be? Anyone want to hazard a guess?

[justinwc80]

Re: Ichiro jersey at $11K and counting

I thought I would be able with the Breast Cancer Awareness auction for NFL.com but they actually specifically said that purchases were not tax deductible.

[cliffjmp33]

Re: Ichiro jersey at $11K and counting

Just had a question and not sure if anyone has the answer, but figured someone could. When it comes to auctions, with the money going to charity, can the buyer then put that purchase as a tax write off?

I also hope it keeps climbing since the money goes to a great cause.