November 21, 2011
Last month we brought you the unfortunate story of Basketball Hall of Famer Julius Erving's financial woes, which included a hefty lawsuit brought on by those looking to collect debts stemming from his failed investment in an Atlanta country club.
Over the weekend, Yahoo! Sports' ThePostGame relayed the story of a recent auction featuring Erving, ostensibly with no ties to his legal frustrations (but, yeah, it probably was tied in), which drew in a staggering $3.5 million in exchange for various bits of Dr. J memorabilia. His 1974 ABA championship ring, won with the New York Nets, was the biggest winner -- drawing in over $460,000.
The auction company president has the reaction you'd expect:
"It was mindboggling," SCP president David Kohler said. "Normally rings go for $25,000 or so. Before the sale I didn't think they'd bring $50,000. We were blown away. I spoke to Julius and he's ecstatic."
A fine purchase, if we say so, sight unseen. Especially if this massive guy was part of the haul.