Official Tom Brady RC Price Tracker

[jcard71]

You're doing the right thing selling now. The money is hard to pass up
and eventually they have to plateau.

[6GOAT789]

Originally Posted by jcard71

You're doing the right thing selling now. The money is hard to pass up
and eventually they have to plateau.

It’s impossible to say, turning down a lot of $ now is something someone can’t go wrong with. So selling now and forgetting about the future is perfectly fine.

However, they’ve gone up every year on average since 2000 and are obviously nowhere near plateauing, the way the increases have been lately…who knows what prices will be in just a year or two, obviously more than now


Brady is still so recent compared to Ruth, Mantle, Gretzky, Jordan etc. people buying now I’m sure are thinking they’ll be able to sell for way more later, or else why buy now?

[blackbears86]

Originally Posted by Brian48

Well, it's with a sad heart, but I am finally letting my best Brady cards go (although I did stow away an extra 2000 SPA in PSA 9 for later). Many of these have been with me for nearly 18-19 years. Tomorrow, they ship off to PWCC vault and will eventually be sold off once I decide what is the best timing. I'M REALLY GOING TO MISS THAT CHAMP TIX

May it go to a good home.

Way to go Brian!!!!!!!!!! That will be life changing money for you!!!

Edit: I hope this doesn't mean you stop posting in this thread. You are one of the good guys!!!!!!!!!!!

[jasonm2121]

Originally Posted by jcard71

You're doing the right thing selling now. The money is hard to pass up
and eventually they have to plateau.

It could but it could also be a $5M card in a few years too, who knows. I say if it can change your life, selling is never a bad thing. He has another movie coming out in addition to the last episode too, so he will likely be in the headlines for quite awhile, which should help him stay top of mind even more so than most after retirement.

https://www.espn.com/nfl/story/_/id/...ovie-producing

[jasonm2121]

Originally Posted by Kingofkings1281

Just closed on my dream home today thanks to the Championship ticket sale. Much appreciated, Tom.

Congrats, that is awesome for you. We started on all these threads around the same time and it is pretty crazy to see what some of the cards have done for the market and for people's lives. Enjoy!

[Brian W]

Originally Posted by Brian48

Well, it's with a sad heart, but I am finally letting my best Brady cards go (although I did stow away an extra 2000 SPA in PSA 9 for later). Many of these have been with me for nearly 18-19 years. Tomorrow, they ship off to PWCC vault and will eventually be sold off once I decide what is the best timing. I'M REALLY GOING TO MISS THAT CHAMP TIX

May it go to a good home.

Very nice collection...I can't wait to see what that psa8 Championship Ticket brings....Absolutely a beautiful example...Congrats...Hope it breaks records....Life changer

[Selanne00008]

Wow good luck! How does one handle taxes on a sale like that?

[kaisersoze]

Originally Posted by Brian48

Well, it's with a sad heart, but I am finally letting my best Brady cards go (although I did stow away an extra 2000 SPA in PSA 9 for later). Many of these have been with me for nearly 18-19 years. Tomorrow, they ship off to PWCC vault and will eventually be sold off once I decide what is the best timing. I'M REALLY GOING TO MISS THAT CHAMP TIX

May it go to a good home.

id keep the base contenders auto for sure and go scrooge mcduck with the $$ from the rest. congrats and good luck!

[hatchd]

Originally Posted by Selanne00008

Wow good luck! How does one handle taxes on a sale like that?

With a very experienced, expensive CPA by your side


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[Fenway55]

Originally Posted by Selanne00008

Wow good luck! How does one handle taxes on a sale like that?

Long term capital gains on collectibles is 28%. And I would not recommend fudging the cost.

[6GOAT789]

Originally Posted by Fenway55

Long term capital gains on collectibles is 28%. And I would not recommend fudging the cost.

28% is such a joke, although it does vary state by state I’m assuming?

What determines a collectible anyway? It could have been an inheritance, among lots of other things

[Kingofkings1281]

Originally Posted by Fenway55

Long term capital gains on collectibles is 28%. And I would not recommend fudging the cost.

That truly is a disgusting amount, but there’s really no way around it.

[salthill]

Originally Posted by 6GOAT789

28% is such a joke, although it does vary state by state I’m assuming?

No, it’s federal.

What determines a collectible anyway?

The relevant law. Not a bunch of guys on a forum.

It could have been an inheritance, among lots of other things

If it was, you’ll have proof of that. (Unless you think the IRS will take your word for it. )
And you only pay cap gains tax on the increase in value since you inherited it.

[Fenway55]

Originally Posted by 6GOAT789

28% is such a joke, although it does vary state by state I’m assuming?

No, I quoted the federal tax rate. State to state can be anywhere from an additional 0% to something like 13%. So the state one lives in can be the difference of several hundred thousand dollars in tax burden.

I’d be lying if I said I faithfully declared every penny of capital gains I ever made in this business, but I ain’t making millions like some in here have/will. Dodging those taxes is go-to-jail numbers.

Originally Posted by 6GOAT789

What determines a collectible anyway? It could have been an inheritance, among lots of other things

I am sure there is a precise legal definition somewhere and I am equally sure football cards fall into that category. If it was an inheritance, then I believe that would impact what you can claim for a cost basis (although it would be subject to inheritance tax and, all too often, claims from other people). But again, these are the types of numbers where I would not recommend lying to Uncle Sam.

Originally Posted by salthill

If it was, you’ll have proof of that. (Unless you think the IRS will take your word for it. )
And you only pay cap gains tax on the increase in value since you inherited it.

This is correct, although it is worth noting that inheritances are very complicated, and you darn sure better have declared that you inherited an estate worth a couple million dollars in collectibles (and you open yourself up to claims from other beneficiaries).

Another advantage of an inheritance is that it is not communal property of a marriage. If you are married, you get to keep 100% of what you inherited. I don't know if our friends in here with the Brady Championship Tickets are married, but (absent a pre-nup) those capital gains would be considered community property (based on the value of the card on the blessed day of nuptials).

[jpcitylights1]

Originally Posted by Kingofkings1281

That truly is a disgusting amount, but there’s really no way around it.

I am not a tax expert, but if you perfectly time your sale to coincide in the year you sell your long term gain and your adjusted income is less than 80k (married), you would owe 0% in capital gains. Many people do this especially in expensive states like CA and NY when they sell their homes. (See attached).

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[jpcitylights1]

Originally Posted by jpcitylights1

I am not a tax expert, but if you perfectly time your sale to coincide in the year you sell your long term gain and your adjusted income is less than 80k (married), you would owe 0% in capital gains. Many people do this especially in expensive states like CA and NY when they sell their homes. (See attached).Attachment 519049

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Please retract above. I am probably not interpreting the tax laws correctly

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[Fenway55]

Originally Posted by jpcitylights1

I am not a tax expert, but if you perfectly time your sale to coincide in the year you sell your long term gain and your adjusted income is less than 80k (married), you would owe 0% in capital gains. Many people do this especially in expensive states like CA and NY when they sell their homes. (See attached).Attachment 519049

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Curiosity got the best of me so I looked up that article. Respectfully, you are not interpreting it correctly.

First of all, that article is referring to investments, not collectibles. Second of all, primary homes are an entirely different category altogether. Third of all, the article does not mean to state that if your adjusted income is less than 80k, you can take as much as you want in capital gains and pay no taxes. (I wish that were the case!!) It means if your adjusted income after including your capital gains stays under $100,000, you could (potentially) not have to pay capital gains tax. Since the adjusted income of people selling their Brady's is going to be in the millions (), they exceed that 0% threshold.

The only tax advice I would give is to (A) make sure their taxes were handled by a professional given this unusual circumstance, (B) draw down any capital losses they may have access to in the same year since those losses could be used to offset the gains, and (C) not listen to any tax advice given by fools like me

[6GOAT789]

Makes you wonder how many items are exchanged for cash/other items.

Sure it’s illegal, but no proof or deductions. Obviously it’s harder to do the more expensive something is, but still.

Losing somewhere around 40% or so due to total taxes has to make people try and avoid them. Then what about auction fees etc?

[Fenway55]

Originally Posted by 6GOAT789

Makes you wonder how many items are exchanged for cash/other items.

Sure it’s illegal, but no proof or deductions. Obviously it’s harder to do the more expensive something is, but still.

Losing somewhere around 40% or so due to total taxes has to make people try and avoid them. Then what about auction fees etc?

Auction fees (and pretty much any expenses associated with the selling of the card) are fully deductable. However, these days you never even see that money so you wouldn't even declare it as income in the first place.

PayPal and TicketMaster each report to the IRS how much money they send me every year. I do not know if Goldin or other auction houses do the same. Paper trails make it hard to avoid taxes. If you deposit $3 million into a bank account somewhere, that's going to raise red flags.

Sure, IF someone gave you straight cash for a card, you could put it under your mattress and the IRS would be none the wiser, but you better be careful in how you spend that money. Any cash transactions over $10,000 raise red flags. That's why money laundering - which is also illegal - is so expensive.

[6GOAT789]

Originally Posted by Fenway55

Auction fees (and pretty much any expenses associated with the selling of the card) are fully deductable. However, these days you never even see that money so you wouldn't even declare it as income in the first place.

PayPal and TicketMaster each report to the IRS how much money they send me every year. I do not know if Goldin or other auction houses do the same. Paper trails make it hard to avoid taxes. If you deposit $3 million into a bank account somewhere, that's going to raise red flags.

Sure, IF someone gave you straight cash for a card, you could put it under your mattress and the IRS would be none the wiser, but you better be careful in how you spend that money. Any cash transactions over $10,000 raise red flags. That's why money laundering - which is also illegal - is so expensive.

Yea, after the sale, someone would have to use common sense. No deposits anywhere since that’s the whole point lol, to avoid proof. As well as no huge purchases

[Fenway55]

Originally Posted by 6GOAT789

Yea, after the sale, someone would have to use common sense. No deposits anywhere since that’s the whole point lol, to avoid proof. As well as no huge purchases

[6GOAT789]

Originally Posted by Fenway55

Auction fees (and pretty much any expenses associated with the selling of the card) are fully deductable. However, these days you never even see that money so you wouldn't even declare it as income in the first place.

PayPal and TicketMaster each report to the IRS how much money they send me every year. I do not know if Goldin or other auction houses do the same. Paper trails make it hard to avoid taxes. If you deposit $3 million into a bank account somewhere, that's going to raise red flags.

Sure, IF someone gave you straight cash for a card, you could put it under your mattress and the IRS would be none the wiser, but you better be careful in how you spend that money. Any cash transactions over $10,000 raise red flags. That's why money laundering - which is also illegal - is so expensive.

Originally Posted by Fenway55

Someone would have to be an idiot to deposit $3million somewhere lol I was just implying cash means no proof. Unless someone screws up and shows somehow they have a lot of $ suddenly


A $3 million deposit isn’t a purchase

[Fenway55]

Originally Posted by 6GOAT789

Someone would have to be an idiot to deposit $3million somewhere lol I was just implying cash means no proof. Unless someone screws up and shows somehow they have a lot of $ suddenly


A $3 million deposit isn’t a purchase

oh I was just having fun since your last comment reminded me of good ole' Jimmy Conway. I wasn't disagreeing or anything like that.

[pejc300]

That champ ticket. Just wow.

[DaveedTO]

https://goldin.co/item/2000-playoff-...ket-rookiimf7z

Congrats to pcptrade,
$780k w/BP for his PSA5 Champ Ticket (#39/100) @ goldin