February 20, 2018

A writer for Deadspin.com got angry at this week’s Tom Brady Super Bowl ring news story. His take on the situation is not exactly dead-on:

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His first bit of misinformation was “It would appear a member of Tom Brady‚Äôs family has sold a Super Bowl LI championship ring, and for an absolutely bonkers $344,927.”.

Well, in fairness to the writer, he would have no idea if that family member actually sold the ring at Goldin Auctions, or if they sold it for the low five figures. I am taking an educated guess that the championship ring was sold by that family member or friend for under, or about $20,000.00.

I say that because I was offered a Brady family Super Bowl ring recently. And here is one bit of information that no writer at Deadspin or ESPN bothered to research in their rush to come out with their articles…. the Patriots Super Bowl family ring cost $10,000 to purchase. This was told to me by a trusted insider.

Now the Super Bowl ring I was offered could have been a different Brady family ring, or the same one, we will never know for sure.

And many employees and players were able to buy family rings. Perhaps more than one, possibly as many as they wanted. These $10,000.00 family rings are 10-20% smaller than the player version super bowl rings, yet are scaled down and look fantastic.

The author never bothered to consider the costs of selling a Super Bowl ring and should have for his story. He implied that the Brady friend of family member put $344,927 in his pocket and could buy a house with his new found money.

Well actually, as I said before the original recipient probably sold the ring for $10,000 – $20,000.00. Let’s say they didn’t and consigned the Super Bowl ring directly to the auction house…..

The auction house would take between 20% and 30%. Say 25%, leaves the seller with around $258,000. Next, depending upon the seller’s tax bracket, there could be federal and state taxes. Since the Brady friend or family member did not actually buy the Super Bowl ring they might not be entitled to the reduced tax rate given for capital gains. I am not sure of the tax rate, but whoever received money for consigning the Super Bowl ring might owe 25% in taxes. If that’s the case, they are down to around $193.000.

$193,000 is still a lot of money, but significantly less than the $344,927 the writer thought the consigner walked away with.

Here’s another fact he got wrong from doing virtually zero research…. He wrote “the only piece of memorabilia to sell for more than this family ring in the past 25 years was a Mike Piazza uniform worn in the first Mets game after September 11, which reportedly sold for $365,000. “.

Guess he never researched Babe Ruth’s 1927 World Series ring or some other pieces of sports memorabilia that have sold in the last twenty five years.

Please remember as always, I buy championship rings. If you would like to sell your championship ring in complete privacy, please contact me.

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