Hey Maks, is this a good investment?

[BRaptor 68]

So, the last remaining privately-held copy of the Star Spangled Banner is up for sale through Christie's.

 

See Article Here.

 

"They" predict it could go for $200-300k. At that price, I'd be willing to put down $1k to buy a 1/200th or 1/300th share. Anyone want in? (kidding)

 

I think the $200-300k figure is severely lowballing the true value of this piece of Americana. However, the recession may be depressing the anticipated, and maybe the actual price paid.

 

If only I had a few hundred thousand lying around.

[Maksim 1,504]

I personally dont do toooo much art. =) But I would not be surprised to see it go alot higher. As an investment, unless you can secure it, and can appreciate it, it is a highly illiquid investment. If you want to sell it, take a 15% haircut for auction house fees.

 

Buy it to appreciate it, not to invest in it.

[BRaptor 68]

If you want to sell it, take a 15% haircut for auction house fees.

 

 

D'oh! Forgot about that. Any significant profit would likely require a very long turnover, then, and likely a gamble on one of the other copies being destroyed or the market picking up.

 

Of course, I would buy it just for the privilege of saying I once owned it...if it were within the realm of possibility, that is.

[jeffesonm 0]

Somebody once told me that during 9/11 millions and millions of dollars of art was lost... they claimed companies would basically use art to hide their money because they could write it off as an expense rather than an investment and not have to pay tax on it or something...