Home / Poker News March 2013 / The Poker Grapevine – Jerry Yang’s WSOP Bracelet Auctioned off
The Poker Grapevine – Jerry Yang’s WSOP Bracelet Auctioned off
Posted by: James Carter. - Wed, 2013-03-13 09:32
Jerry Yang’s 2007
WSOP Main Event championship reign didn’t exactly start off on the right foot: as soon as he got the money and the bracelet, he melted off into the sunset, prompting many experts to proclaim him one of the worst Main Event Champions ever. For his 2007 victory, Yang picked up a rather handsome $8.25 million reward. It now appears though that he – like many others who came upon such large sums of money on such a short notice – didn’t really succeed in hanging on to his possessions: his 2007 WSOP Main Event bracelet is up for auction, by the IRS no less, and if that isn’t bad news for him, we don’t know what is.
Those who have always wanted to be the possessors of a WSOP Main Event bracelet will be able to get one now, together with the Corum watch that Yang picked up with the bracelet back in 2007.
According to the IRS, Yang’s bracelet and watch have been seized for nonpayment of taxes, which could mean one of two things: either Yang is broke and unable to pay otherwise, or he simply doesn’t value his WSOP bling and has decided to give it up instead of paying up. Yang’s WSOP paraphernalia is sold together with other poker and non-poker related valuables of his. The offering will be an aggregate one at first, after which the items shall be auctioned off individually too. The method that receives the highest bid will be the one which will award the goods to the winner(s). The bidding will start from a minimum of $6.3k. Regardless of how much the auction fetches, it will not be nearly enough to cover Yang’s tax liens, one of which is a $571.8k federal tax one.
