Thursday, October 30, 2014

Florida Lotto Winner Tries to Auction Comic-Book Collection to Pay his Back Taxes

In 2001, Robert Sage bagged a $13 million prize from the Florida Lotto. At the time his biggest wish was to build a mansion big enough to store his collection of 14,000 comic books and 300 superhero statues.

Unfortunately he failed to keep on top of his taxes and was forced to try and auction his beloved comic books on Tuesday in an effort to pay his $123,432.06 tax debt.

Sage hoped his comics would fetch him a tidy sum and claims two independent appraisers estimated its value to be around $200,000. Comic book collectors did not agree, and many commented on the poor condition of the items, stating Sage was more or a comic-book reader than a comic-book collector.

The best bid was $5,100. Sage rejected it and the IRS closed the auction.

The IRS is now searching for another way to settle the debt.

When sage won the Florida Lotto jackpot he opted not to take the offered $7 million one-off, lump-sum payment and chose to receive 30 annual payments of $345,000 instead.  Explaining his inability to pay the tax bill, which accrued when he failed to pay his taxes for two years, Sage said he used a lot of the money as collateral and no longer gets as much as he used to.

Florida Lotto drawings take place on Wednesdays and Saturdays at 23:15 (Eastern Time). Jackpots start at $2 million and there is not cap placed on the top prize. The next Florida Lotto drawing is on Saturday, November 1, 2014. The estimated jackpot is $42 million.