Cubs Say Auctioned World Series Ring Could Be Counterfeit

CHICAGO, IL -- The Cubs are looking into what the team calls an 'unauthorized' sale of a World Series ring. The team wants to know how it ended up on an auction website, which had garnered more than $35,000 by the time an official had issued a statement on the matter Monday afternoon. Cubs officials said the ring may even be counterfeit.

"This is not an authorized sale so we’re putting the market on notice 'Caveat Emptor' – Let the Buyer Beware for any interested buyers as this ring may be counterfeit," said Cubs spokesperson Julian Green in a statement.

"We are taking this matter very seriously and are using every available resource to identify the authenticity and obtain this ring. Potential buyers may want to take a pass and explore other safer ways to purchase World Series memorabilia." (For more local news, subscribe to free email news alerts and a daily newsletter for your hometown Patch.)

Lelands Auctions said the ring's owner was a "scout who loyally served the Chicago Cubs," and explained the name would not be revealed in order to "honor their anonymity."

The listing described the ring as having "214 diamonds at 5.5 karats, 3 karats of genuine red rubies and 2.5 karats of genuine sapphires."

The Cubs require non-players receiving rings to sign an agreement that gives the Cubs the right to buy back the rings for $1. Team officials said the rule was issued out of concern that the rings would be devalued. Under the agreement, anyone who owns one of the rings must tell the Cubs about a potential sale, and give the team the right of first refusal.

The auction for the ring started Sept. 27 with an opening bid set at $1,908, and is set to run until Oct. 27.

Chicago Cubs general manager Jed Hoyer displays his World Series ring during the team's ceremony April 12. (photo by Jonathan Daniel | Getty Images Sport | Getty Images)