Tom Petters's Muhammad Ali artifacts going for $31k

A Wisconsin collector of Muhammad Ali memorabilia recently came across an interesting find: a box of Ali artifacts previously owned by one of Minnesota's most famous modern convicts, Tom Petters.

Ali items from the Petters estate include a robe worn by Ali after his match with Leon Spinks, a life-size statue, a glove autographed by Cassius Clay (Ali's name before he changed it), and a signed picture featuring the boxer with the Beatles.

Pending approval form the courts, the collector will pay $31,000 for the memorabilia.

Craig Hamilton, owner of Jo Sports Inc. in Brookhaven, N.Y., appraised the memorabilia per the request of the federally appointed receiver in the Petters case late last year, and says the whole collection came in at somewhere around $30,000.

"This was not a particularly valuable collection," says Hamilton, noting he couldn't recall the exact total value. "Most of the stuff he had was autographed stuff, which is frankly pretty run-of-the-mill."

Hamilton says the robe is the most expensive item in Petters's collection, worth "between $10,000 and $15,000."

"The rest of the stuff was not something you would call notable," says Hamilton. "This was not by any means a fabulously valuable part of this man's world."

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