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Sports Biz
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On Monday, we told you the story of the Mickey Mantle baseball that was signed "F**k Yogi. Before putting it in their upcoming auction, the folks at Grey Flannel Auctions tried to sell it first for $2,750.
And sell it they did.
Although Richard Russek, president of Grey Flannel, declined to comment, a source told us that the Mantle family purchased the ball, presumably in order to make sure it didn't get into the hands of a collector. Had it not sold by Friday, the ball would have entered the auction with a $1,000 reserve price.
It's not like the Mantle family needed it for their collection. The Mantles sold about 300 items from the career of Mickey — who died in 1995 — in an auction that raised $3.25 million in Dec. 2003. In the auction, Mantle's 1957 MVP trophy was purchased for $319,250 and his 1962 World Series ring sold for $165,200.
The $2,750 the family paid for the ball might seem like a small amount, but it's a steep price when you consider that Mantle earned just $5,000 in his rookie season with the Yankees in 1951.
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Source: Grey Flannel |
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