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IRS tries to auction lotto winner’s comics, walks away empty-handed

by  in Comic News Comment
IRS tries to auction lotto winner’s comics, walks away empty-handed

After Robert Sage won a $13 million jackpot in the Florida lottery in 2001, he said he planned to build a two-story house with a tennis court and enough room to store his 300 superhero statues and 14,000 comic books. But on Tuesday, he found himself in a Jacksonville hotel, looking for bidders to buy his now 24,000-comic collection and settle his $123,432.06 tax debt.

He didn’t find any.

Oh, the IRS auction attracted collectors, The Florida Times-Union reports, but none thought the 22 bins of comics were worth anywhere close to the $200,000 Sage said two independent appraisers found they were worth.

“It looks like they have a lot of ’80s and ’90s,” one collector told the newspaper, noting newer comics don’t hold much value. And as their storage in bins may indicate, Sage was more of a reader than a collector, so the books aren’t in pristine condition. (You can see photos of part of the collection at the link.)

In the end, the 22 bins generated just $5,100 in bids, which were rejected by Sage. The IRS closed the auction and will now search for another way to collect the debt.

Sage, who didn’t pay his income taxes for two years, agreed in 2001 to receive $345,000 annually after taxes for 30 years rather than take a $7 million lump-sum payment. He told the Times-Union he used the money as collateral, and now doesn’t get as much money as he used to.

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