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The more I shop at Costco, the more amazed I am by what the warehouse will sell. Massive crab legs. Jugs of butter. Kayaks, gazebos, solar panels. But every now and then I come across something that’s truly bizarre. Like a basketball hand-signed by five Lakers Legends: Kareem Abdul-Jabbar, Shaquille O’Neal, Magic Johnson, Kobe Bryant, and Jerry West. Not only was the signed basketball itself a surprise, but when I compared the price with other outlets, I was shocked at the difference.
When you purchase the LA Lakers Legends Autographed Indoor/Outdoor Basketball on Costco.com, you’ll pay about $8,000. That’s about $2,000 cheaper than most other outlets. For example, you can find the same basketball listed on Fanatics for roughly $10,000. Likewise, sellers on eBay are also listing basketballs with all five signatures for $10,000.
For $2,000 less than leading competitors, then, you can own a basketball signed by five Lakers Legends. Plus, if you’re a Costco Executive member, you’ll earn 2% cash back (up to $1,000 per 12-month period). On a $8,000 basketball, that would equal $160 back. Sports memorabilia is also not excluded from Costco’s generous return policy, which guarantees a full refund if you’re not satisfied with your purchase.
In addition to Lakers basketballs, Costco sells signed gear from other players and teams, including:
Tom Brady New England Patriots football ($1,799.99)Mike Trout LA Angels bat ($5,499.99)Lionel Messi Inter Miami jersey ($3,999.99)Sylvester Stallone Rocky boxing glove ($1,249.99)
Costco only sells a limited supply of its sports memorabilia. So this deal likely won’t last long. If you’re a Lakers fan, then, you might be eager to get your hands on it before it sells out. Before you do, however, let’s take a step back and see if the purchase makes sense for you.
Anytime you buy high-valued sports memorabilia, you have to ask yourself where you’re going to store it. Will you keep it on display? Will you lock it up while you’re not at home? While you can put the basketball itself in tamper-proof glass, you might still want to protect it in case of a break-in or theft.
Likewise, if you’re keeping the basketball at home, you should verify that your renters or home insurance can cover collectibles. While home insurance policies typically cover collectibles, they usually impose very low coverage limits. If your insurance can’t cover the full value of your basketball, you may need to add a rider to your coverage, which could make your premiums slightly more expensive.
Finally, take a look at your budget to see if this purchase makes sense for you. Don’t let the “limited supply” of these basketballs prompt you to rack up credit card debt or buy something you come to regret. While you might be able to resell it later for the same price or higher, there’s no guarantee you’ll find a buyer.
But, hey, if now isn’t the right time, don’t sweat it. Costco frequently sells autographed sports memorabilia, sometimes from the same teams. If it doesn’t make sense to buy a Lakers basketball now, wait until a later day when you can buy it without any financial stress.
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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
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