My oh my, what a year it has been for poker in 2010. We recently revisited the past 12 months like the Ghost of Poker Past, looking back at the good, the bad, and the ugly. (Seriously, men cross-dressing in female bracelet events?) A Canadian Main Event champ who defied all odds as he climbed back from just $5,000 chips on day 4, “The Grinder” and his career-defining year to remember, Annie Duke winning the NBC National Heads-Up Championship, the ups and downs of poker legislation, all four Mizrachi brothers cashing the Main Event–these are just some of the things that come to mind when I reminisce. They are all pale in comparison to 2010′s major headline: the undeniable presence of World Series of Poker (WSOP) bracelets, their presumably broke owners, and their auctions on eBay.

It was a stunning story when T.J. Cloutier christened the year in January with the auction of his 2005 $5,000 No-Limit Hold’Em event bracelet. The once illustrious gatekeeper of the felt had apparently fallen upon hard times, as speculation swirled around the poker community as to what exactly had become of Cloutier when his bracelet appeared on the chopping block for a Vegas pawn shop’s eBay listing. All signs pointed to the craps tables as the culprit, an unrelenting addiction which had helped his fortune and fame diminish faster than drugs and alcohol combined. A man, who at the pinnacle of his career earned himself the title of having the most WSOP cashes, would see his bracelet sell for $4,006, a mere spec in the sun of the empire he had squandered.
The stigma surrounding Cloutier wore off quickly though when it was realized the he was just the beginning of the latest trend befalling the poker industry. We looked previously at the auctions of Paul “Eskimo” Clark’s 1997 $1,500 Razz bracelet (selling for $4,050) and the 1999 Pot-Limit Omaha bracelet of Hassan Kamoei (which received no bids at the close of the 10-day auction and the $3,800 starting price). It is interesting to note that Kamoei won his bracelet by outlasting a table that included Clouter. While Doyle Brunson is known as the “Godfather of Poker” for his influence on the game, in light of this year’s overwhelming display of busto and his apparently deep roots at the center of it all, Cloutier can now be referred to as “The Godfather of Broke.”
Peter Eastgate’s 2007 Main Event bracelet was the only auction from 2010 not sold for financial gain and was a news headline in of itself. Earlier in the year, he announced his retirement from poker, and his bracelet auction was a way to help further remove himself from a lifestyle that had grinded him into the ground. All the proceeds of his auction went on to benefit UNICEF, in what turned out to be a noble swan song for Eastgate from the felt.

What better way to close out the year but with another bracelet for sale on eBay, this time belonging to Brad Daugherty. As the year has progressed, the names of the owners behind these auctions has grown increasingly more obscure, highlighted by Kamoei and now Daugherty, which is sad considering he is a previous Main Event champion. Not just any Main Event: he is the first ever winner of a Main Event prize worth $1 million. Considering the names of other winners and their staying power from the same 10-year span (Mortensen, Ferguson, Seed, Nguyen), it was a victory that would only serve to shadow him for the rest of a career highlighted by comparably insignificant grinding that brought in winnings at a decimal and a fraction of that life-changing score.
The bracelet, inscribed with the bulbous name “BRAD” on the front, was made from 96 grams of 14K gold at a time when bracelets knew nothing of diamonds, a scrap value of $2,484.50 at current exchange rates. All things considered, it would go on to reach $30,100 by auction’s end, a modest amount that wasn’t enough to trigger Daughtery’s reserve price. For a man down and out and a piece of jewelry adorned with an inscribed name that sticks out like a cold sore, you’d think holding high standard would be the last thing somebody would be doing.
The stunning influx of all these auctions in the past year has almost become comical to the point where it’s insulting to the legacy of the WSOP and the achievement of taking down an event. There is nothing admirable about having worked your entire life to achieve the status of “bracelet winner” then frivilously spending all your winnings and putting yourself in a position to be nil back at square one. The saying “that’s poker” doesn’t apply here, because it isn’t as much of an issue of a coin flip as it is just common sense and personal restraint. Here’s to hoping 2010 was both the beginning and the end to the eBay trend and that bracelets will be staying on wrists and in trophy cases where they belong.