PokerNews.com reported on Tuesday that an upcoming public auction sale by the Internal Revenue Service of the United States has been posted and appears to have items in the sale that belonged to Jerry Yang, 2007 World Series of Poker Main Event winner. Those items include the Corum watch and Corum bracelet that Yang received that year when he bested a field of 6,358 runners in the Main Event and scored a massive $8.25 million in prize money.
The listing was posted "under the authority in Internal Revenue Code section 6331, the property described below has been seized for nonpayment of internal revenue taxes due from Taxpayer." The U.S. Department of the Treasury listing describes the property up for auction as follows:
"Corum bracelet and Corum watch won at the 2007 World Series of Poker Main Event; Corum ladies watch; Wittnauer watches; Movado watches; Rockwell Timekeeper; Raymond Weil watch; Gold herring- bone necklace and bracelet; White gold bracelet with blue sapphires and diamonds; bracelet with “Mom” inscription; 14K man’s gold bracelet with “WSOP Champ;” Man’s gold necklace with an “A’s of Hearts” pendent with white embedded diamonds (10K); silver breast plate “Hmong” cultural jewelry."
According to the listing "the assets will be offered first in the aggregate and then as individual lots and will be declared sold by whichever method receives the highest bid amount." The minimum bid is set at $6,389.40
Pictures of the items up for auction are available and the Notice of Encumbrances includes a federal tax lien for $571,894.54 along with several other tax liens. The IRS website explains a federal tax lien: "a federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property and financial assets."
The sale location is listed at Internal Revenue Service, 4330 Watt Avenue, Sacramento, California 95821 with bidder registration time set for 10 a.m. and the auction's start time at 11 a.m. PT on April 4th, 2013.
Yang has won a little over $150,000 in live tournaments since his WSOP Main Even victory in 2007.