Bonds ball sold at Auction

Jerry1

Megatron Star!
Jan 26, 2006
3,338
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Brooklyn, New York
#1
Didn't go for as much as I thought it would...

Home run high
By Jeff Passan

Saturday, Sep 15, 2007 10:19 pm EDT
Barry Bonds' record-breaking 756th home run ball fetched $752,467 at an auction that ended Saturday night, setting a high mark for Bonds-related memorabilia but falling far short of the record paid for a baseball.

The winner, whose name has not been released yet by SCP Auctions, placed a bid of $627,056 at 9:11 p.m. ET. After 30 minutes passed with no more bids, it was declared the winner, and a 20 percent commission of $125,411 was tacked on to the final price.

It was the 31st bid in the auction, which began Aug. 28 and lurched toward the half-million-dollar mark that the ball's owner, 21-year-old Matt Murphy of New York, had hoped to attract. As of early Saturday, the ball's price sat in the lower $300,000 range. Once the initial bidding stage closed, the most serious participants began driving up the price.

In the early evening, it passed the $500,000 mark that collector Todd McFarlane paid for Bonds' 73rd home run in the 2001 season. Never, however, was it in danger of coming close to what McFarlane paid for Mark McGwire's 70th home run from the 1998 season: $3 million.
"Cause I'm the taxman...yeah, I'm the taxman......"
 

MrAbovePar

En Taro Anthony
Mar 14, 2005
13,782
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Covington. La
#2
Is this the one where the gov't was going to make the guy pay taxes on about a million dollars even if he kept it?
 

Sinn Fein

Infidel and White Interloper
Wackbag Staff
Aug 29, 2002
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#4
Is this the one where the gov't was going to make the guy pay taxes on about a million dollars even if he kept it?
Yup. Apparently that's why he put it up for sale, to raise the funds for the taxes he was going to have to pay regardless of whether he kept it or not.
 

UCFGavin

Registered User
Feb 25, 2006
2,061
0
0
#6
i wish he would get hit with a bat in the face 756 times.
 
Jul 13, 2006
12,836
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Arkansas
#7
Is this the one where the gov't was going to make the guy pay taxes on about a million dollars even if he kept it?
No, the government wasn't going to make the guy pay taxes on the baseball. It was just a bunch of dumb fucking professors and accountants that were on the news talking about how much the ball would be worth and they started saying it MIGHT be taxable as though it was a fact that the fella was going to have to pay taxes on the ball each year.

Of course the government NEVER said they wanted taxes on it and the assumption that he'd have to pay taxes on the fucking thing is ridiculous. That would mean that any person that owns artwork would have to pay taxes on it every year and the same goes for all kinds of memorabilia.

It was just a bunch of boring accountants that wanted to be on the news.
 

MrAbovePar

En Taro Anthony
Mar 14, 2005
13,782
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Covington. La
#8
I just remember a lot of lefties were saying "well, not everyone gets so lucky so he should sell it".
 

Sinn Fein

Infidel and White Interloper
Wackbag Staff
Aug 29, 2002
31,704
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#9
If someone buy's a piece of artwork at Sotheby's, Christie's or some other big-time auction they are gonna pay sales tax on the purchase. It wouldn't be an annual thing. This guy didn't purchase the ball, so they can't charge him sales tax. But, the discussion was that he'd have to pay some kind of income tax. But, you're right. It's a bunch of crap, either way. Check out this article:

New Yorker to sell Bonds' record home run ball in online auction

Matt Murphy, the 21-year-old New Yorker who emerged from a sea of knees and elbows with Barry Bonds' 756th home run ball, said Tuesday that he wished he could hang on to the record-breaking pearl and eventually display it to his grandchildren.

Poor guy, though, has to sell it.

Murphy called a news conference to say he will sell the ball online, from Aug. 28 to Sept. 15, through an auction house that expects it to fetch at least $500,000. Murphy said his hand had been forced by a dreaded foe: the tax man.

He feared he would be taxed on the value of the ball, even if he declined to cash in.

"I most likely would have kept it," Murphy said in his thick Queens accent, two days after returning from a beachcombing and female-admiring excursion to Australia's Gold Coast. "But it would have cost money to keep something I already had. I'm not poor, but I don't have $100,000 or $200,000 lying around."

He will soon, though he is sticking with a pregame pact he made with his awfully lucky friend Amir Kamal before they saw Bonds break Hank Aaron's record Aug. 7 at AT&T Park. Murphy will get 51 percent of the proceeds, Kamal 49 percent.

The company handling the sale, SCP Auctions, specializes in sports memorabilia and works with the Sotheby's auction house. Murphy's ball will be auctioned with 1,300 other items, including Bonds' 755th home run ball, hit at Petco Park in San Diego and hauled in by a La Jolla plumber.

SCP President David Kohler declined to say how much his firm is charging Murphy as a commission. Continuing the theme, an Internal Revenue Service spokesman in Oakland wouldn't touch Murphy's contention that he was on the hook for taxes if he kept the ball.

"The IRS does not comment about an individual taxpayer's situation, and we don't speculate on a hypothetical," Jesse Weller said.


There doesn't appear to be a precedent for the situation, and a pair of Bay Area tax experts disagreed on whether Murphy has cause for concern.

Eric Rakowski, a law professor at UC Berkeley's Boalt Hall, said the ball could be viewed as a windfall that is part of Murphy's income.

"That might be the right view," Rakowski said. "Nobody knows whether it's the right view because the IRS refuses to say."

Stanford law Professor Joseph Bankman called the prospect of Murphy being taxed before sale "almost an urban legend."

"When an ordinary person," he said, "finds something that is valuable but not very liquid, and is hard to get the exact value of, we don't tax that person until sale."


Either way, Murphy will now be left only with money - which he may put toward business school and his goal of becoming a physical therapist - and memories, which he recounted Tuesday.

He said he and Kamal - who were in San Francisco on a layover before their Australia trip - bought tickets online for $100 each, choosing center field in hopes of being near the record blast.

No. 756 glanced off a few outstretched hands and bounced on the floor before Murphy - who had just put down a $15 crab sandwich - pounced on it and stuffed it in a back pocket.

Fans then pounced on him, and some asked him outright for the ball. After a few minutes of mayhem, he was whisked away by police. He had a little blood on him, he said, and a lot of ketchup.

After a Major League Baseball authenticator put a hologram on the ball, Murphy and Kamal rushed to their hotel near Fisherman's Wharf and checked out.

They got a suite at the Hilton under another name and put the ball in a safe. Murphy, nervous, repeatedly changed the combination. The next morning, he visited a bank, put the ball in a safe deposit box and relaxed.

Murphy said he doesn't think the ball was tainted by the steroids controversy that surrounds Bonds and his record.

"You don't hit 756 as a fluke," he said. "He's a tremendous player, and I have great respect for the man."

Kohler, of the auction house, said he isn't sure how the steroids matter might affect potential buyers. He suggested, perhaps too hopefully, that Bonds had gotten so much publicity that it might be a case of "negative overkill" that sends the price skyward.

Regarding homer No. 755, Kohler said earlier this month that Bonds less-than-universal popularity would hurt the price. "If Bonds were loved by all fans, the price could be double," he said. "Maybe more."
 

LiddyRules

I'm Gonna Be The Bestest Pilot In The Whole Galaxy
Jun 1, 2005
143,292
50,554
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#11
I just remember a lot of lefties were saying "well, not everyone gets so lucky so he should sell it".
Who the fuck ever said this?

Article said:
The winner, whose name has not been released yet by SCP Auctions, placed a bid of $627,056 at 9:11 p.m. ET.
*Brady Bunch Tiki Music*