I just talked to Joe Orlando... Anyone know anything about 1915 Cracker Jack! Scans Added!
mdkuom
Posts: 969 ✭✭✭
All I can say is I'm in total shock and thank you to PSA for running the PSA Set Registry Sweepstakes! What an amazing day!
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Comments
Still wish it was me though!
https://www.psacard.com/psasetregistry/pdub1819/othersets/6204
Doug
Liquidating my collection for the 3rd and final time. Time for others to enjoy what I have enjoyed over the last several decades. Money could be put to better use.
Wow.
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." Dr. Seuss
<< <i>Thank you guys. The prize is actually the one Dboneesq posted. What is VCP for an "8"? >>
Oops! My bad!
The last one sold for over $10,000.. Still a GREAT day!!!
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." Dr. Seuss
WTB: PSA 1 - PSA 3 Centered, High Eye Appeal 1950's Mantle
I'm no lawyer, but a quick internet search for what comes along with such a great prize like you got yields this slight downer:
You can keep the card or sell it, but either way you have to pay taxes on it. PSA shouldn't be able to make you pay the taxes up front. If you won cash, they might be required to withhold some for taxes. Since there's no way to withhold 25% of a card, they have no duty to send any money to the IRS. Since they don't have a duty to send money to the IRS, they can't make you pay the income taxes on the card to them before giving you the card.
They will be sending you a 1099 for $12,000 that you have to include on your tax return. Appraisals and VCP should be used to compare with the stated value of $12k. Just because the alleged "retail value" was $12k doesn't mean you would have had to pay $12k for the card. The card market varies all the time. If $12k is the marked up price, the actual retail value could be notably less. You could also argue that their value is whatever you can sell the card for. If you report less than the 1099 amount, you'll have to include copies of any appraisals to explain the variance.
Again, I'm no lawyer or accountant, and those who are may chime in and clarify, but I'm also reading that there might be some advantage to forming some sort of LLC to claim the card rather than for yourself, but I'm not sure.
Not to take away from your happy times though! I only looked into it because of jealousy; wish I had the luck you do today! Congrats again.
But I have promises to keep,
And miles to go before I sleep,
And miles to go before I sleep."
"Life is what happens to you while you're busy making other plans."
Collecting:
Any unopened Baseball cello and rack packs and boxes from the 1970's and early 1980s.
Scott
Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's
<< <i>I'd bet no withholding and no 1099. Auction houses don't even issue 1099's, which amazes me. I 1099 every non corp I pay $600 or more to. >>
Anthony ... I do believe CU will be issuing a 1099 to the OP. However, as long as the OP furnishes his SS # to CU then no w/h is necessary.
Doug
Liquidating my collection for the 3rd and final time. Time for others to enjoy what I have enjoyed over the last several decades. Money could be put to better use.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Buying Vintage, all sports.
Buying Woody Hayes, Les Horvath, Vic Janowicz, and Jesse Owens autographed items
Congratulations!
Website: http://www.qualitycards.com
Lou Gehrig Master Set
Non-Registry Collection
Game Used Cards Collection
Congrats!
Mark
T206 Set - 300/524
<< <i>Congrats on winning! Where you the one that stayed up overnight registering sets? It was at 99,400 when I went to bed and 100,400 when I woke up this morning.
Haha, I actually added about 50 sets a week or so ago, but then got bored. I guess it was enough!
<< <i>
<< <i>Congrats on winning! Where you the one that stayed up overnight registering sets? It was at 99,400 when I went to bed and 100,400 when I woke up this morning.
Haha, I actually added about 50 sets a week or so ago, but then got bored. I guess it was enough! >>
I was home from work about 12:15am CST in the morning and was up till about 4:10am CST listing sets. I listed about 150 new sets...that I don't actually intent to keep.
Mark...congrats on the win. What do you plan to do with the card?
Paul.
Later, Paul.
I hope they give out another one when it crosses 100k again, it's down almost 1000 already from people unlisting sets!
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stupid print dots
congrats !!!!!!!!
now i will spend more time deleting the set i dont really want to compete in, although found a few i might try to go for
hank
2004 spx
1989 topps psa 10
1959 phillies
Phillies of the 70's
Did PSA have a contest of some kind? What was the incentive for handing out expensive cards?
<< <i>Congrats!! Time for me to remove all the sets I don't intend to finish.
Me too
https://www.psacard.com/psasetregistry/pdub1819/othersets/6204
Very nice of PSA to run this promotion. Good vibes for all collectors
on the registry.
<< <i>yeah, i added about 1000 sets to try for it....
congrats !!!!!!!!
now i will spend more time deleting the set i dont really want to compete in, although found a few i might try to go for
hank >>
Same here on adding around 1000 sets. I doubt I'll delete any though, as most of mine were just team sets where I'm working on the full company set, and when I start hitting 90% marks they'll be useful for free grades.
I'm very, very glad that the big winner wasn't a player collector who decided to create several dozen HOF sets with 1 card each (which someone did).
Nick
Reap the whirlwind.
Need to buy something for the wife or girlfriend? Check out Vintage Designer Clothing.
Congrats, Mark!!
Dodgers collection scans | Brett Butler registry | 1978 Dodgers - straight 9s, homie
I'll guess 52.
Appreciate today-
Bill
Only 175 more to go for the set!
Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's