Let the bidding war begin! At the time of writing, the auction price for the 2008 World Series of Poker (WSOP) Main Event bracelet belonging to Peter Eastgate has passed the $50,000 mark after starting at $16,000. The bidding war on eBay escalated in part when PartyPoker pro Tony G entered the fray earlier this week.
Tony G commented in a blog entry posted on Friday, “Carry on bidding, this bracelet is going to go for six-figures. I respect Zasko too much to not pay what it takes, but I do have limits. For $2 million, I could buy him his own private jet!” Zasko is Tony G’s German Shepard, who stands to rock out a WSOP bracelet dog collar when the bidding wraps up on November 25th.
The flamboyant pro added, “I have had a number of comments about whether this demeans the value of a WSOP bracelet. You’ve got to have a laugh in life and this is what this is – a bit of fun for a good cause. And yes… I haven’t yet won a bracelet, but it is only a matter of time.” The proceeds from the auction for Eastgate’s Main Event bracelet will benefit UNICEF.
Several months ago, Eastgate, a PokerStars pro, took an indefinite leave of absence from the game, telling his followers that his goal in poker was to achieve financial independence, a mission he accomplished after defeating Ivan Demidov for $9.1 million two years ago. Eastgate was nowhere to be found at this year’s WSOP in Las Vegas and instead opted to watch the World Cup unfold from South Africa.
There have been 57 bids placed on the collectible, which has a current asking price of $54,300. A variety of eBay members have gone after on the item and a dozen bids were entered on Friday alone.
A brand new Q&A has been posted on the auction’s home page that gives a clear description of the bracelet’s makeup: “Stamped 18k, white gold ‘World Series of Poker 2008’ Main Event Winners’ medal bracelet. Consisting of 291 small ‘brilliant’ cut diamonds set on a center medal, which is held on an 18k white gold wristwatch style bracelet. Carat: Total Diamond weight 2.81ct. Clarity: VS Color: Colorless. Total gold weight: 168 grams. Manufactured by Corum.”
A total of 57 bracelets were dished out during the 2010 WSOP in Las Vegas. However, the Main Event has only run 41 times, pushing the value of one of its bracelets up dramatically. In a thread on TwoPlusTwo, one poster put the $54,000 bid in perspective: “‘Pawn Stars’ bought a Miami Heat championship ring for $9,000, and it wasn’t even a specific player’s ring; it was actually from one of the trainers. These types of things are highly collectible and people will often pay a lot to get them.”
Another poster noted that Eastgate’s charitable deed may ultimately lead to a tax write-off for the Dane: “Dunno about the tax law from his native country, but in the States, you get tax breaks for your charity donations. Clearly, he doesn’t care about or wear the bracelet. This auction might be a way for him to cut his giant tax bill while cleaning out his closet.”
Check out the eBay bidding page to buy Peter Eastgate’s bracelet.
