October 19, 2008

What Yankee Stadium Legacy?

On Saturday there was an auction to sell off a ton of New York Yankees memorabilia with many of the pieces focusing on the closing of the House that Ruth Built. Unfortunately, quite a few of the pieces didn't sell or sold at "lower" prices than expected...

  • The final home run ball hit at the stadium didn't receive a bid at the starting price of $100,000.
  • A collection of 15 World Series & American League championship rings owned by former Yankee owner Del Webb was pulled from bidding after receiving a few low bids.
  • A 1949 Plymouth convertible owned by Mickey Mantle sold for $34,000 but was expected to reach double that amount.
So is our national financial crisis reaching the collectibles market or are these things that no one really wanted to begin with?

2 comments:

dayf said...

All the mega rich New Yorkers just had their portfolio crushed and they are much less likely to drop a few hundred G's on something non-essential now. The super high memorabilia market is about to have it's own crash that will last quite a while.

--David said...

I believe these were things no one wanted to begin with, or at least not pay what the Yankees thought they were worth. That is the beauty of collecting for the monetary 'value' in anything: nothing is worth more than the 'collectors' are willing to pay.