Lenny Dykstra To Auction Off World Series Ring
The Lenny Dykstra sales continues with the news that some of Dykstra's most treasured trophies will be up for auction at Heritage Auctions October sports memorabilia sale. The former baseball player known as "Nails" has had a rough year and is unloading just about every asset he has to satisfy some major debt. The sale will feature several of what have to be some hard-to-let-go-of items including his diamond and gold 1986 World Series championship ring, his replica World Championship trophy, his home run ball that won game three of the National League Championship Series in 1986 and his 1990, 1994 and 1995 All-Star Game rings. The NY Daily News reports that the former baseball legend began shopping the items around about a month after he filed for bankruptcy, presumably when he was still in control of his own finances. Now a court-ordered trustee is handling his affairs and the NY Daily News says that Dykstra was recently banned from the Lake Sherwood community in Southern California where he still owns a mansion he bought from Wayne Gretzky. Another home he owns nearby is already on the market. He has had the former Gretzky mansion on the market for as much as $24.95 million but it is currently not for sale pending some ongoing legal action filed by Dykstra about work done to the home. The listing pics are shown in the gallery below.
Dykstra, who just a few short years ago was held up as an example of how to be smart with your money after retiring from professional sports, is now said to be worth less than $50,000. The sudden shift in Dykstra's fortunes is due to a variety of factors including a divorce, the struggling economy and the failure of his "The Players Club" magazine, a magazine meant to offer sound advice to professional athletes. In March 2008, the New Yorker wrote a glowing piece on Dykstra titled "Nails Never Fails" about the former Mets player's magazine and his investing strategies. By December of last year, former employees of the magazine were telling stories of unpaid bills and missed payrolls and the magazine had ceased publication.
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Reader Comments (Page 3 of 3)
Steve-a-rino Sep 14th 2009 9:04PM
Linda,
The thing is that all of these people put their money into a doubtful and "out of the ordinary" investment scheme that, I'll bet, set a few alarms off in their heads as Madoff convinced them to go along. ANY time it sounds too good to be true it is. It still comes down to people who have enough to invest wanting more - and in some cases they gave up hundreds of thousands or millions. Would you trust even your best friend with that kind of money?