Updated
Updated · Los Angeles Times · Jul 22
Wilt Chamberlain's $3.07 Lakers Jacket Sells for $89,600 at Sotheby's
Updated
Updated · Los Angeles Times · Jul 22

Wilt Chamberlain's $3.07 Lakers Jacket Sells for $89,600 at Sotheby's

3 articles · Updated · Los Angeles Times · Jul 22

Summary

  • $89,600 was the final Sotheby's price for a Lakers warmup jacket a 19-year-old Portland reseller pulled from a Goodwill bin for $3.07 in January.
  • Sotheby's photomatched the short-sleeved jacket to three images of Wilt Chamberlain, including a 1972 Knicks game identified as either Game 1 or Game 2 of the NBA Finals.
  • Quinn Brown said he spotted the jacket with "Chamberlain" on the back, researched matching photos and measurements, then consigned it after Sotheby's reached out.
  • The sale fell short of Sotheby's $150,000 to $250,000 estimate, but Brown still turned roughly a 29,000-fold return on what he called a once-in-a-lifetime find.

Insights

Why did a historic NBA jacket sell for $60,000 below its estimate, signaling a potential shift in the sports memorabilia investment market?
How does a $3 thrift find become a $90,000 treasure, and what overlooked details separate worthless items from priceless historical artifacts?
What market forces and technologies are turning secondhand clothes into a legitimate and lucrative alternative asset class for savvy investors?