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Bidder Up!
Wealthy baseball fans can thank Uncle Sam. Barry Bonds' record-breaking home run ball will go to auction as early as next week, as hefty impending taxes are forcing the lucky 21-year old owner to part with his valuable souvenir.
As soon as Matt Murphy caught the historical homer on August 7 at AT&T Park in San Francisco, experts believe that piece of sports memorabilia began counting as taxable income.
Not exactly the best publicity for the I.R.S., as the young New York native expressed his earnest disappointment in having to part with his souvenir at a press conference on Tuesday.
"I wanted to keep it. I'm young. I don't have the bank account. ... It would have cost me a lot more to keep it," Murphy said, according to the Associated Press
Bonds broke Hank Aaron's record of 755 with a shot into the right-field seats in a game against the Washington Nationals earlier this month, and the ball is considered by some to be the most historical baseball ever to go on the block.
Number 756 will be sold through an online auction run by Sotheby's/SCP Auctions, the company which was also responsible for selling the balls from historical Bonds homers number 700 homer and number 715.
So millionaires, keep your checkbooks handy. Bidding will begin on August 28 and run until September 15. The starting price has not been determined, but auction officials estimate the ball to go for at least $500,000.
One possible bidder is Todd McFarlane, the toy and comic-book entrepreneur and creator of Spawn. He is an avid baseball collector, having paid $3 million for Mark McGwire's 70th home run ball in 1998, and $500,000 for Bonds' 73rd home run ball that broke that record in 2001.
In an an interview with Portfolio.com earlier this month, McFarlane said he might be interested in bidding for the Bonds' ball "if it's a reasonable price."
"But 756 isn't the ball, it's a ball," he added. "The ball that I'd be interested in is the last one he hits before he says the words 'I retire.' I'll save my money for the ball."
If $500,000 is a little rich for your blood, the ball from Bonds' 755th home run hit August 4 in San Diego also will be up for auction, and is likely to go for a more modest figure.
Liz Gunnison
Laura Rich is a co-founder of Recessionwire, which provides news, advice, perspective and humor about the recession and the recovery.
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