Last May, Collectable offered shares of Wilt Chamberlain’s home jersey and uniform from his 1959-60 rookie season for $10 a share.
The all-cost value was $1.275 million with the IPO set at $956,250 and the consignor retaining $318,750 worth of equity. Shares of the iconic uniform from one of the NBA’s greatest players went fast, selling out in one hour to 1,040 unique collectors.
Sixteen months later, Collectable has received an offer to buy the uniform for $3 million, representing a 113.40% net return over the IPO price and a 8.62% net premium over the last traded price on Collectable's secondary market ($19.50/share).
The uniform has been trading on Collectable's secondary market, with the last trade at $2,486,250, up 95% since IPO.
Trading has been halted pending the results of a shareholder survey. After Collectable's equity interests in the offering and broker-dealer transaction fees, Collectable would return approximately $21.34 net per share.
Chamberlain wore the jersey for every Philadelphia Warriors home game in 1959-60, when he won the NBA MVP award by averaging 37.6 points and 27 rebounds. The 7-1 center broke eight NBA records during his rookie season.
“It’s photo-matched to a game at Madison Square Garden where he dropped 52 points,” says Ezra Levine, CEO of Collectable. “There are a lot of amazing images from Getty, which show him walking off the court and everyone’s clapping. It’s a very cool piece.”
The jersey was authenticated by Mears Memorabilia Evaluation and Research Services and graded a top grade of A9. It was photo-matched by MeiGray. The uniform contains both jersey and shorts.
The jersey, manufactured by Pearson and issued in 1959-60, shows heavy game wear, with some spotting (possibly blood) on the front.
The uniform was previously sold to a private collector for an undisclosed record price, according to Collectable and SCP Auctions.
“Wilt Chamberlain’s legacy needs no embellishment,” SCP Auctions Founder and President David Kohler said after the previous sale. “His rookie uniform, supported by photo documentation that is unprecedented for its era, ranks not only as the finest basketball uniform in the world, but one of the finest uniforms from any sport, period.”
Chamberlain is widely regarded as one of the best players in NBA history. He is the only player to score 4,000 points in a single season, averaging 50.4 points per game in 1961-62. He holds the record for the most points in a single game with 100 and the most rebounds with 55. The 13-time all-star led the league in scoring seven times and rebounding 11 times. He was a four-time MVP and won two NBA championships. He was elected to the Pro Basketball Hall of Fame in 1978.