One, Mike Koss ‘83, couldn’t afford a brass rat while he was in school. In his case, he was bidding against at least two other alums. “I have no idea who is bidding them up or why,” he says. The typical 10-karat brass rat contains around $190 worth of gold, yet in recent auctions MIT class rings have sold for $675 to $1,231, according to Rauch. Association staff then notify the class officers for the appropriate years, so they can publicize the auctions, in case anyone’s interested in participating – or has had a ring stolen. Rodgers says he browses the auction sites weekly to look for any MIT class rings or memorabilia for sale. “I’ve seen a dozen or so rings being sold in the past four or five years on eBay,” says Joel Rodgers of the Alumni Association. The online sale of the ‘83 brass rat was not an anomaly. A typical MIT class ring, better known as a brass rat.
Bob Rauch ‘61 paid $964.99 for the ring to replace his own, which had been stolen in a burglary. When the auction closed, the brass rat wound up not in the hands of an ‘83 but on the finger of another alumnus. In February, members of the Class of 1983 got an e-mail from their president, Hyun-A Park, announcing that a 1983 class ring was for sale on eBay.
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