Cubs envoke $1 buyback for World Series Rings

[bn2cardz]

Originally Posted by Topps206

From what I read, this also applies to players.

The title of the article is :

"Cubs Ask Non-Players to Sign Agreement to Not Sell World Series Rings"

Originally Posted by Cubs Ask Non-Players to Sign Agreement to Not Sell World Series Rings-BleacherReport

Cubs general manager Jed Hoyer is among those who support the organization's decision:

I signed that thing willingly. Everyone except for the players signed it. I look at it as the Ricketts [ownership] were so unbelievably generous in the cost of the ring and the number they gave out, I think it's totally appropriate when you're paying for the ring and helping out with the taxes along with that—it seems appropriate to say, 'I don't expect you to take the gift I'm giving you and run out to the market with it.'

[D. Bergin]

Originally Posted by bn2cardz

The title of the article is :

"Cubs Ask Non-Players to Sign Agreement to Not Sell World Series Rings"


Cubs general manager Jed Hoyer is among those who support the organization's decision:

I signed that thing willingly. Everyone except for the players signed it. I look at it as the Ricketts [ownership] were so unbelievably generous in the cost of the ring and the number they gave out, I think it's totally appropriate when you're paying for the ring and helping out with the taxes along with that—it seems appropriate to say, 'I don't expect you to take the gift I'm giving you and run out to the market with it.'

The Cubs Multi-Millionaire General Manager signed it willingly. Good for him. LOL!




Just don't give gifts if you want to put stipulations on them. Basically the Cubs want first rights for resale if they ever go to market again.

The Cubs ownership are so unbelievably generous in regards to the cost of the rings and the number they gave out, that they want them back if you actually treat the item as a "gift".

From the article I read, this also applies to future family members who inherit the ring. What incredible foresight from the Cubs ownership with this Scientology like perpetuity clause.

[sago]

Just don't tell anyone you sold it. There are plenty of people that would keep it in their collection without telling the world they have one. Even so, as long as the buyer does not reveal from whom they obtained it, who could find out which of the 1,000+ people sold it?

[bn2cardz]

Originally Posted by sago

Just don't tell anyone you sold it. There are plenty of people that would keep it in their collection without telling the world they have one. Even so, as long as the buyer does not reveal from whom they obtained it, who could find out which of the 1,000+ people sold it?

This is what I was wondering as well. How well can it be enforced. Did they serial number them? Does the seller then make the buyer sign an agreement that states they won't publicly sell it?


Also for those that say you can't give rings with stipulations I would like to fully disclose that I have given a ring to someone with a stipulation... and we are still married

[packs]

I don't see how the agreement could be transferable either. For example, let's say the original owner gifts the ring to a child relative who then decides to sell the ring. How can a contract be enforced on a child?

[drcy]

It's rare, but I believe one can't sell one's Oscar. One was put up for auction a couple of years ago and there was a lawsuit over it.

The Medal of Honor can't be sold-- but that's a Federal law thing.

[bn2cardz]

Originally Posted by drcy

It's rare, but I believe one can't sell one's Oscar. One was put up for auction a couple of years ago and there was a lawsuit over it.

The Medal of Honor can't be sold-- but that's a Federal law thing.

This is true. So I guess another followup question is will this start a trend throughout MLB? If so what does that do to the conductibility and value of rings?

[Michael B]

Originally Posted by drcy

It's rare, but I believe one can't sell one's Oscar. One was put up for auction a couple of years ago and there was a lawsuit over it.

The Medal of Honor can't be sold-- but that's a Federal law thing.

This is true for newer ones. Older ones, especially from the Civil War have been sold and not just the ones from that Maine Regiment that received them just for re-enlisting. Theirs were rescinded, but they are still out in the market.

[ooo-ribay]

One buck sounds about right for a stinking Cubs ring.

[slidekellyslide]

Originally Posted by ooo-ribay

One buck sounds about right for a stinking Cubs ring.

I don't know, you'd think they could at least offer spot price on the gold.