March 5, 2019

The NBA legend collected nearly $3 million over the weekend, by auctioning off 234 pieces of his memorabilia, including four of the five NBA championship rings he won with the Lakers.

Kareem Abdul-Jabbar Lakers championship rings

Abdul-Jabbar said that “a significant portion of the proceeds” — which totaled $2,947,872.25 — will go to his Skyhook Foundation. The charity’s goal is to bring science, technology, engineering and mathematics opportunities and education to communities that need help.

According to Goldin Auctions, the company that ran this auction, the item that went for the highest bid was Abdul-Jabbar’s 1987 championship ring. It sold for $398,937.50. His 1985 championship ring went for $343,700, while his NBA championship rings from 1980 and 1988 went for $245,500 each.

The minimum bid for one of Abdul-Jabbar’s championship rings was $60,000. He also won NBA titles in 1971 with the Milwaukee Bucks and 1982 with the Lakers. Neither of those championship rings were placed in the auction.

Abdul-Jabbar recently said that he was ready to part with much of his NBA memorabilia and had a strong desire do some good with it.

Jabbar stated “I can’t afford to pay all the rental fees and insurance. I’m just tired of it,” he said. “It can help me support my foundation. … A significant portion of the proceeds will go to help me help the kids learn about STEM education. That’s one of the main reasons I’m here, to get some support from my friends in the NBA.”

Among the other items sold during the auction: a signed ball used when Abdul-Jabbar scored his final NBA points ($270,050), three of his league MVP trophies ($122,750-$123,978), a pair of game-worn goggles ($12,275) and a crystal mini-basketball, which was a 50th birthday gift from Pat Riley ($2,455).

Congratulations to Kareem and to his important charity.

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

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