Grey Flannel Breaks Basketball Jersey Auction Record

On May 14, 2008 Grey Flannel Auctions, the Long Island Company that serves as official authenticator for both the Naismith Memorial Hall of Fame and Major League Baseball Players Alumni Association, broke its own record for highest auction price ever paid for a basketball jersey. An iconic jersey worn by Julius ‘Dr. J’ Erving during the first ever half time Slam Dunk Contest in 1976 soared to a closing price of $188,321 in the 1,000 lot, $1.73 million auction. All prices quoted are inclusive of a 20 percent buyer’s premium.

`The previous auction record for a game worn basketball uniform, also held by Grey Flannel, was for a different Dr. J jersey,` said the auction company’s president, Richard E. Russek. “It was an ABA New York Nets home jersey, which we sold for $141,927 at the 2006 Basketball Hall of Fame Auction”

Russek said he never had any doubt the record breaking jersey in the May 14 sale was going to fly. “I knew it was headed for success the second it walked into my office. There was a lot of interest in it because it was such an iconic item. It represents the incredible half time competition that brought together the ABA and NBA.”

The auction had a solid mix of other strong performers as well. Among other key auction items were a late-1960s game used, autographed Oscar Robertson Cincinnati Royals road jersey which achieved $66,734 and a Michael Jordan game used Chicago Bulls rookie home jersey chalked up $55,152.

Stellar prices were realized on athletic apparel from the titans of other professional sports, as well. A Len Dawson game used and autographed Kansas City Chiefs football helmet from Super Bowl IV, offered with an exact photo match, earned $36,716 while the baseball category was topped by a game used Derek Jeter home run bat autographed with a notation indicating it was used to hit a home run, selling for $20,208.

Russian hockey player Sergei Zubov’s game used 1994 New York Rangers jersey was particularly desirable because it represented the year the Rangers finally won a Stanley Cup. The jersey, with its iconic association to the most important of all hockey competitions, scored $16,979.
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Grey Flannel Auctions is currently accepting basketball related consignments for its September 6 auction at the Naismith Memorial Basketball Hall of Fame in Springfield, Massachusetts; as well as consignments of sports, entertainment, political and historical memorabilia, plus vintage coin-operated machines, for a winter auction. Contact Grey Flannel Auctions by calling 631-288-7800 ext. 221, fax 631-288-7820, or email: gfcsports@aol.com. View additional information about the company, plus additional prices realized, online at www.greyflannelauctions.com.