1952 Topps Mantle CSG 8 sells for $1.25M

[GasHouseGang]

Is there a link to the auctioned item?

[Ben Yourg]

How does the IRS look at this?

[raulus]

Originally Posted by Ben Yourg

How does the IRS look at this?

The IRS looks at it the way many of the posters here do. It’s all about the card, not the holder.

You can swap out, change around, or abandon the holder altogether, and it’s still the same card you bought in the first place, and when you sell it, the only real difference here is that the seller theoretically paid a little bit to get it graded by CSG. So the cost basis in the card would rise for those costs.

Otherwise, this is no different than buying and selling any other card. The seller made a bunch of money, and now gets to pay a lot of it to the government.

Edit: assuming, of course, that there are no shenanigans, like the buyer being the seller’s wife or something.

[Johnny630]

Are owners/investors in a TPG permitted to buy cards once they have ownership in said TPG Company?

[raulus]

Originally Posted by Johnny630

Are owners/investors in a TPG permitted to buy cards once they have ownership in said TPG Company?

Who would stop them from buying cards?

[Johnny630]

Originally Posted by raulus

Who would stop them from buying cards?

Exactly so I take this price with a grain of salt. Let’s see how consistently strong CGS stays moving forward, then we can talk.

[Lorewalker]

Originally Posted by Johnny630

Exactly so I take this price with a grain of salt. Let’s see how consistently strong CGS stays moving forward, then we can talk.

Not that one card can put a grading company on the map but if this one did open eyes to CSG's legitimacy then it would be reasonable to expect more CSG presence in catalog auctions...maybe not for commons but certainly for star cards.

Up until now I do not see any auction houses sending material out to CSG for grading. People rather support two clearly compromised grading services because it is ALL ABOUT THE MONEY.

[hcv123]

Originally Posted by Johnny630

Exactly so I take this price with a grain of salt. Let’s see how consistently strong CGS stays moving forward, then we can talk.

One big sale does not a "new accepted player" make. Let's see some $100-$50,000 cards in CSG holders get auctioned across multiple auction platforms and see how they "perform"!?

[111gecko]

Originally Posted by GasHouseGang

Is there a link to the auctioned item?

http://catalog.scpauctions.com/1952_...-LOT52543.aspx

[JustinD]

Please correct me if I am wrong, my understanding is that this was a PSA 7.5 crossover.

If that is indeed true than the crossover may have netted less than a PSA 8, but it wasn't an 8. It was a 7.5, so per that aspect the hustle worked. They sold it well over the initial investment.

Not something I would have done, but someone did.