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What Would it Take to Part with the 756 Ball?

12
Vote

by Allonthefield

Everyone knows that record-breaking baseballs are worth something, and most fans will go to any lengths to get their hands on one.

Because, as Richard Sandmour wrote in a recent New York Times article, it's a "lottery-like prize coming at you." The only question, it would seem, is just how much the lottery prize is worth.

There are some interesting precedents on the subject, which Sandmour laid out. The biggest winner of all time would seem to be Phil Ozersky, who was lucky enough to retrieve and pocket $2.7 million for Mark McGwire's 70th home run ball, back at a time when Big Mac was still a hero.

Of course we all remember the bitter quarrel between Patrick Hayashi and Alex Popov, each of whom thought they could claim ownership to Barry Bonds' 73rd home run ball in 2001. In the end, the court ordered the pair to split the proceeds, which ended up totaling $450,000. Half of that should just cover a year's worth of legal fees.

Going back a little further, Sal Durante collected $5,000 for Roger Maris's 61st home run ball, but that was in 1961. Five thousand dollars went a lot further, but people were also not yet fanatical about sports memorabilia.

Fast forward 46 years, and 21-year-old Matt Murphy is the one with the decision to make. A New York Mets fan who was in San Francisco on his way to Australia, Murphy found himself at the bottom of the pile in right-center field after Bonds' 756th.

Based upon his statements so far, it would seem that Murphy is going to auction off the baseball to the highest bidder, and he claims that he will be sharing 49% of the proceeds with a friend. Respectable, if you ask me.

Suppose for a minute, though, that it was you. You've got the ball in your possession, and offers for tickets, money, vacations, guest appearances on TV coming at you from every direction. What do you ask in return for the ball?

How much is enough?

This article is also posted at All on the Field sports blog.


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InsanMajor Leaguer
844 days ago
Score 2+-
I would definitely not keep the ball. Definitely sell it, and I would auction it off right away while the hype and stories are still there. Don't wait, it loses value. Don't keep it unless Barry Bonds is your hero, (I would never sell Ruth's 714th homer ball) because the record will be broken again by someone and at that point, Bonds' ball would drastically decrease in value.
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Alex HolowczakHall of Famer
844 days ago
Score 2+-
I think it's best to sell it quickly. Because if you left it in pride of place on your mantlepiece, you open yourself up to burglary etc. Also, you risk a player becoming less marketable (i.e. McGwire), so, I would offer it to the San Francisco Giants, to see what they want to pay for it. Maybe they have a Memorabilia Museum? Take their offer, and then make sure they secure the future of the ball (i.e. to keep it there safely forever). Give whatever they offer to a charity.
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Ea34Div-I Stud
844 days ago
Score 1+-
I'd sell right away. Offer it Bonds and the Giants. If they did pay me, auction it off. Anything in the 5 figures would be enough to get me to part with it, although i'd be hoping for 600-700K+
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InsanMajor Leaguer
844 days ago
Score 1+-
Nah you gotta go at least 1 mil. Even then I'd be hesitant.
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Ea34Div-I Stud
844 days ago
Score 0+-
I'm very inclined to agree, execpt for the fact that it's the sort of asset that could see the bottom absolutely fall out of the market. It's gotta be a huge cash-grab sale.
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OurmanflintSoccer Kid
844 days ago
Score 1+-
I hope that whoever buys Murphy's ball is smart enough not to pull a Todd McFarlane and shell out an absurd price for no. 756. My guess is that the value of the ball goes down about 10 grand with each additional HR that Bonds hits. Murphy has gotta get rid of that thing quick.
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RawbeezeitzMajor Leaguer
844 days ago
Score 1+-
Sell right now. The only thing that could make the value of it increase is if Bonds dies in the next few days. (We can dream, right?) Call up a big auction company, let it be known that the ball will be sold there on such and such a date, then sell to the highest bidder.
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HappyskinnyAll-American
844 days ago
Score 1+-
The estimates on the ball have been between $400,000 and $700,000. He is going to need to sell the ball soon because once he took possession of it, it is considered income to him. As a college student, I don't think he can afford the taxes to hold onto it.
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RawbeezeitzMajor Leaguer
844 days ago
Score 1+-
I read that article too. I think the guy who suggested that the ball is income is a bit off in his analysis. It's true that the ball is valuable, but until he sells it, it isn't income. That's like suggesting that someone pays taxes on an autograph they got at the ballpark, because they could easily sell and make money.
Permalink
HappyskinnyAll-American
844 days ago
Score 1+-
The difference is that no one knows about the autograph. This is a special situation that everyone in the country knows about, so bet your butt that the IRS is all over it.
Permalink
JuTMSY4Legend
844 days ago
Score 0+-
Yeah, i'm not positive on the income portion...because I'm sure we all techically have assets that are similar (but most likely worth less).

However, if you win a car on a game show, you're liable for those taxes pretty much right away (you need to declare it and you'll end up paying next april)...

Fortunetly, i know a few tax attorneys in the building i work at, I'll make a few calls and get a semi-official answer
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The oldest manVarsity
844 days ago
Score 1+-
Raw, you are 100% right the ball in no way can be considered income until it sells and a price has been given for this item. If Murphy has any brains he will keep it for awhile and see what happens. There are a lot of individual who buys this stuff for unbelieveable prices just to own them or for an investment. It would have far better trading power than just selling it for a lump sum of whatever. Is it worth 700,000 dollars maybe to a collector but with the ways things are now about the roids and other drugs I don't think there are going to be lots and lots of offers for it. To most of the real fans , Aarons and even McGuires' balls were more valuable than Bonds. But some of the people that bid on this stuff are truly out of their minds.In 10 years people may forget about the steroids problems with Bonds and the ball becomes even worth more money.
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The oldest manVarsity
844 days ago
Score 1+-
The IRS doesn't concern itself with anything unless it is income and by the tax laws that means money earned by any means including selling drugs or whatever but it can only be considered income if the ball is sold for a price and that price be it money or tickets or trips etc... is the income and shall be treated as such by the IRS. I have a baseball from the 1927 Yankees-Pirates World Series signed by Miller Huggins, Babe Ruth and Lou Gehrig and then I had Whitney Ford, Mickey Mantle, Casey Stengel and Sandy Koufax sign it in 1964. According to baseball collectors it is worth more than it was purchased for by the Yankees in 1927, but it is not considered income to me until I sell it.And if I give it to my greatgrandson it still won't be considered income until he sells it. And the only reason I know that is I asked the IRS after my father died about it and even if it is worth something to the collectors it only becomes income when it is sold for a price or amounts greater than the original price of the item.
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HappyskinnyAll-American
844 days ago
Score 1+-
This refutes that: http://sport...mp;type=lgns But who knows which one is right.
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JuTMSY4Legend
844 days ago
Score 2+-
I consulted a tax specialist that works on the same floor as I do...her conclusion is that technically speaking, there was never an intent to acquire the ball realistically...and it is, in essence, a gift fromt eh stadium...

And while a gift-like tax will apply...it doesn't until actual income takes place...

She's actually e-mail a tax attorney about it, but she thinks his conclusion will be similar

Translation = No tax consequences until sold
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