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Tax Implications Spurring Sudden Sales of Sports Stars’ Memorabilia?

It’s been a familiar story lately.  Retired player or coach selling off a special item or collection, ostensibly to pay for the education of family members.  Jim Palmer did it.  Don Larsen’s doing it.  Bob Knight.  Ozzie Smith.

Gold Glove Ozzie SmithFor collectors with cash, it’s like being in a kid in a candy shop.

Whenever well known sports personalities let go of the tangible items that defined their careers, there’s no shortage of buyers.  Many of those pieces are museum-quality, one-of-a-kind items.  Don Larsen’s World Series perfect game uniform?  Who wouldn’t want such an historic piece?  One of Ozzie Smith’s Gold Gloves?  You mean…you can really buy one?

For the stars themselves, not only is it a chance to trade their most valuable items for cash, it’s a chance to cash in while the tax laws are stable.

That may not be the case in 2013.

The Associated Press examines some of the possible reasons behind the influx of new material into the auction market.

 

About Rich Mueller

Rich is the editor and founder of Sports Collectors Daily. A broadcaster and writer for more than 30 years and a collector for even longer than that, he's usually typing something somewhere. Type him back at [email protected].

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