Ichiro jersey at $11K and counting

[rj_lucas]

Part of the Japan relief charity auction on MLB.com. Worn by Ichrio on opening day:

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=151162661&prmenbr=33072944&aunbr=151509371

With more than a week to go, will be interesting to see where it ends up. A great player, but the prices his stuff brings never fails to amaze me. Nice to know the money will go to a good cause.

Rick
rickjlucas@gmail.com

[sox83cubs84]

Re: Ichiro jersey at $11K and counting

Early PM Friday, up to $12,150.

Dave Miedema

[gnishiyama]

Re: Ichiro jersey at $11K and counting

One of One TBTC Ichiro complete uniforms with the jersey top, pants,
sometimes socks, belt and helmet on MLB Auctions in the past have gone
upwards of 20K but its always the same two guys bidding at the end;
one of whom is a customer of mine and is a CEO of a major Japanese
company. He does not participate on Ebay or buy from individual
dealers; he buys through his assistant from me.

Others like the one recently auctioned off at the A's game has gone
for around $6K and for the most part an Ichiro jersey with his letter
goes for around $7500-$10K in Japan.

I don't want to use the word sucker since that's a term reserved for
ignorant people but Japanese people are highly supportive of charity
in this case there is none one more important and there is not a more
trusted platform than MLB auctions. If one of us auctioned off the same
item on Ebay with the same terms, we would probably be in the mid
$3-$4000 range with some last minute sniping in the high $7-$8000 at most
expected.

On a side note, my customers have told me that a big problem in Japan
right now is fraudulent charity auctions, benefits, etc. that prey on
this exact Japanese people's charitable side.

I think the jersey will go north of $20K but that should not get mixed
up with what the perceived value is. Japanese people, I being one,
pay a premium for our homeland players but this is not the norm. I say this
so people don't start thinking their $200 Ichiro ball is worth 10x the amount.

Quite recently, an Ichiro signed game-used elbow guard with his letter went
on Ebay for about $900. That's about how much they go for in Japan.
There's no longer a huge gap on Ebay prices and Japanese prices. I
say that to prove that this MLB auction Ichiro jerseys is just a special
case and it should not be mistaken for what its actual value is.

Also this auction is highly publicized in Japan; matter of fact I was notified
about this auction from a customer in Japan first.

A pair of cleats worn in a charity match by a famous retired Japanese
soccer player was auctioned off recently for a similar cause and it went for
roughly $90K. Any other time these same cleats would of have went
for no more than $3000 at most as its not even from an official match.

http://sa.item.rakuten.co.jp/football-plaza/a/jpfa0224/

Goh Nishiyama

[Klattsy]

Re: Ichiro jersey at $11K and counting

On a side note, my customers have told me that a big problem in Japan
right now is fraudulent charity auctions, benefits, etc. that prey on
this exact Japanese people's charitable side.

Goh Nishiyama

We had the same problem here in Queensland with the floods at the start of the year. It is a tragedy that people pray on the innocent. It also extended to eBay where Australian sports stars where offering overseas "experiences" which had massive shill bidding problems (up to 4 times the highest "real bid")

Mark.

[Dach0sen0ne]

Re: Ichiro jersey at $11K and counting

They always go for a ton, Japan relief or not. It might even fetch more this time because it's for charity.

http://mariners.auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=96301383&prmenbr=33312614&aunbr=96648093

http://mariners.auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=95635994&prmenbr=33312614&aunbr=95982704

http://auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=133545887&prmenbr=33072944&aunbr=133892597

[frikativ54]

Re: Ichiro jersey at $11K and counting

They always go for a ton, Japan relief or not. It might even fetch more this time because it's for charity.

http://mariners.auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=96301383&prmenbr=33312614&aunbr=96648093

http://mariners.auction.mlb.com/cgi-bin/ncommerce3/ProductDisplay?prrfnbr=95635994&prmenbr=33312614&aunbr=95982704

http://auction.mlb.com/cgi-bin/ncomm...unbr=133892597

Thanks for the links. It's amazing how much his stuff commands on MLB.com Auctions. He's an excellent player, so I am glad to see that the money is going toward a good cause.

I'm wondering if the item's being an Opening Day shirt makes it command a premium. Or maybe the green color. I'm simply not sure, but I am nevertheless amazed by the current price - with time left to go!

[legaleagle92481]

Re: Ichiro jersey at $11K and counting

Ichiro always goes for an insane amount of money but its a good cause and IMO its great for all of us when stuff sells high. I disagree that on Ebay or otherwise off MLB auctions it would go for so much less. An mlb authenticated Ichio jersey is a safe bet to top 10K anywhere at any time.

[sox83cubs84]

Re: Ichiro jersey at $11K and counting

First inning of Cubs game Monday night, up to $12.355.00

Dave Miedema

[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.

[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.

[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?

[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

[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

[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

[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.