Tom Brady’s Stolen Jersey

For anyone who watched Super Bowl LI, they understand the value of Tom Brady’s stolen jersey.

            To bring anyone else who has been living under a rock for the last few days up to speed, quarterback Tom Brady led the New England Patriots to a come from behind 25 point deficit to defeat the Atlanta Falcons in overtime.  After the game, the news media, and the Championship ceremony, Brady went back to the locker room, took his jersey off, put it in his athletic bag while he showered.  When he came back, the jersey was gone.

            Despite a massive manhunt from the Texas Rangers and an undisclosed financial reward, the jersey has yet to turn up.  Experts have said this jersey could bring between a quarter to a million dollars – or more.  Robert Kraft, owner of the New England Patriots, actually encouraged Brady to look on eBay for his jersey.

            Auction professionals must be on the look out for these kinds of items as this is a prime object that someone could bring in to be sold. According to the founder of Assiter Auctioneers in Canyon, Texas, Spanky Assiter, while this object could bring in a lot of money, ethics come into play and that consideration would negate any type of sale at his auction firm.

            “In a situation such as this, if I know that an asset is stolen, I am obligated by the Code of Ethics of the National Auctioneers Association, to turn it away,” said Assiter.

Assiter, who has been in the auction industry for more than 30 years and who also serves as Past President for the National Auctioneers Association, says that auction professionals have constant ethical issues within their business.  However, he said that following this Code of Ethics distinguishes the professionals from others. 

“Our team decided a long time ago that as leaders in the auction industry, we were committed to providing a clear and concise understanding of the item to be sold, the terms of the auction and the auction process,” Assiter said.  “That ensures that we offer our services in the most ethical way possible.”

But would he really turn down a sale that could net his company a commission on almost a million dollars as Brady’s jersey surely would? 

“Absolutely,” Assiter said.  “We have been in business for 33 years and our reputation is important to us and to our clients.  And frankly, we want to stay in business for an even longer time.”



Auction Method vs. Traditional Listing 

AUCTION METHOD

  • Property marketed separately
  • Price negotiated up
  • Up front marketing expenses
  • Sold "As-is, Where-is"
  • Pre-qualified bidders
  • Pre-determinded sale date

TRADITIONAL LISTING

  • Property listed in portfolio of other properties
  • Price negotiated down
  • Broker typically absorbs marketing fees
  • Post sale contingencies
  • Possible financing contingencies
  • Sale date unknown

 

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