World Series of Poker gold bracelets have made their way to the auction block at eBay on more than one occasion. While winning a bracelet and all the cash and fame that goes with it is the ultimate goal in poker, sometimes 'life happens' and circumstances create obstacles that are out of our control. So began Jerry Yang's loss of the unique Corum Admiral’s Cup watch that was awarded to all final tablists the year he won the 2007 WSOP Main Event for $8.25 million in prize money after standing at the top of a field of 6,368 players.
In March of 2013, the Internal Revenue Service of the United States put items up for public auction that were owned by Yang. In those items were Yang's coveted Corum bracelet and the Corum watch. A private seller known only as “polareyezd,” which lends one's imagination to run across the virtual network to Phil Ivey’s online handle “Polarized.”
Posted by the private seller in the item's description:
"This is the watch won by Jerry Yang at the 2007 World Series of Poker. It was made by Corum specifically for the 2007 WSOP Main Event. On the clasp is engraved the words "2007 WSOP Main Event Final Table". The watch is in excellent condition, the glass of the watch face is flawless and there are only a couple of minor scratches on the case, nearly invisible without a magnifying glass.
I purchased this watch at an IRS seizure auction last year in Sacramento, CA and have the paperwork that shows it was seized from Jerry Yang for non payment of taxes and sold to me. Pictures of the paperwork are attached. The watch retails by Corum for more than $9000 and that is without the provenance of having been won during the World Series of Poker Main Event.
Other than winning a WSOP Main Event bracelet yourself, this watch, won by the World Champion in 2007 is the best trophy for any poker fan to own!"
The starting price for the watch was listed at $50.00 and after 58 bids came in, the winning bid was $6,209.67.
The IRS took Yang’s bracelet and watch "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 Notice of Encumbrances included more than one tax lien against Yang but the real heart-stopper was the federal one for $571,894.54.
“I’ve got my kids to worry about, my wife to worry about, my business to worry about,” Yang said in an interview after his tax situation became public. “I still love poker and I still intend to play poker in the future, so many of you will see me out there. Jerry Yang will not go anywhere. If I survive a refugee camp and a communist invasion of my country, I know I will survive this.”