The Ebay auction surrounding Trump Taj Mahal memorabilia seems to have received a lukewarm response.
The letters from the iconic Trump Taj Mahal sign are selling on eBay for $7,200 apiece. The bidding for a small piece of Donald Trump’s now-defunct Atlantic City casino is so low that it has not met the minimum reserve price yet.
At present, the Trump Taj Mahal letter auction has only 13 bids. Commenters noted that WSOP bracelets sell for more on eBay, the leading online auction website.
The Closing of the Trump Taj Mahal
The Trump Taj Mahal closed in October 2016. Donald Trump had not been the majority owner of the casino since February 2009, when Trump Entertainment Resort’s board of directors forced Trump out amidst his latest bankrupty.
Instead, the board paid Donald Trump 10% of the company in order to keep his name on the property, as well as the now-defunct Trump Plaza. Eventually, Trump friend and adviser Carl Icahn bought control of the casino.
Carl Icahn’s Role in the Closure
When he took over, Carl Icahn promised to invest $100 million in much-needed renovations of the Trump Taj Mahal. When the North Jersey casino referendum was placed on the November 8 ballot, Carl Icahn backed away from his promised new investment in the casino. When the Local 54 of the UNITE-Here workers union struck to regain pension and health benefits in July 2016, Icahn lost patience and shut down the casino.
Now, it appears that all vestiges of the Trump name are being removed and sold on eBay. The auction’s listing said, “Featuring illuminated ruby-red glass in riveted brass casing, [the letters] are as much pieces of art as they are pieces of history.”
$300 Million Purchase
Carl Icahn bought the Trump Taj Mahal in a bankruptcy auction for $300 million. The casino entered Chapter 11 bankruptcy in September 2014, the same month that Trump Entertainment Resorts announced that Trump Plaza would close.
When the New York City activist investor chose to close the Trump Taj Mahal, it was the worst-performing casino in Atlantic City. It was a far cry from the illustrious position the Taj held only 13 years earlier, when it was the AC casino with the highest revenues.
Enter: The Borgata
When the MGM Resorts casino, Borgata, entered the Atlantic City market in 2003, things began to change for the Trump Taj Mahal. Borgata became the primary casino in Atlantic City. At points during the decade of the 2010s, Borgata generated almost half the casino revenues in the city.
By that time, Trump Taj Mahal was facing tough times. Donald Trump began his reality TV career in 2005, and he began investing less in the management of the Trump Taj Mahal. When the 2008 collapse of the real estate market, financial industries, and stock market happened, Trump Taj Mahal was in no condition to meet the downturn.
Donald Trump Leaves in 2009
Neither was Donald Trump, who had to declare bankruptcy 6 months into the global recession. Though his name remained on the building, Donald Trump was out of the casino business for good. Hotels and resorts around the globe carried his name, but in most cases, that name was sold as a license to other developers. Donald Trump learned he could market his world-famous name for a nifty price, instead of dealing with the day-to-day headaches (and risks) of managing resorts himself.
It is uncertain how much President Donald Trump’s unpopularity contributes to the poor sales prices on eBay. Since Trump is the president of the United States and received over 60 million votes, one has to assume that he retains a certain degree of marketability — and likely a lot of marketability. It might be that the sellers are trying to sell one letter at a time, or the fact no one can display giant letters.
Whatever the casino, now is the time for collectors to own an authentic, unique piece of Donald Trump memorability — or Atlantic City history. The Trump Taj Mahal was the casino most associated with Donald Trump.
Trump Collectors Items on Ebay
A couple of other high dollar eBay auctions center around the Trump Taj Mahal. One is listed “President Trump’s Taj Mahal collectables with Cage Payout $1 Silver Certificates”, and it includes electronic door keys, “Do Not Disturb” signs, a membership card, branded menus, and dozens of other pieces of Trump-branded memorabilia. This lot sells for $3100 at present.
Another is listed as “Trump Taj Mahal Logo Golf Ball”, and it has an asking price of $10,000 (and $3.20 for shipping). It is nothing more than a golf ball with the Trump Taj Mahal on it. This item has 7 people watching it, but as one might imagine, no bids.
