Non-Billionaires Discussing Billionaires They Will Never Meet Who Buy Art To Show Other Billionaires 4 4

[KirbyCollector]

On 8/7/2024 at 12:24 PM, MAR1979 said:

The most interesting post stuff like the past few pages, takes place in thread whos title does not reflect the content

I hope you are happy now

[tth2]

On 8/8/2024 at 12:13 AM, Bronty said:

On 8/7/2024 at 11:23 PM, cstojano said:

I assume the 8.75 includes commission, why would the dealer NOT want to juice the prices with the all in cost?

Glad we agree on DD1 being most valuable. I think its definitely the Gateway Frazetta for many. 

The 8.75 does not include commission - see below.   Perhaps because clink doesn't want someone to know what the commission amount was.

That's bizarre.  Why not just list the gross amount, which puffs the price up as much as possible?  The amount of the commission will still be a secret because no one will know how much of the gross price is made up of the commission.

[Bronty]

On 8/8/2024 at 10:04 AM, tth2 said:

That's bizarre.  Why not just list the gross amount, which puffs the price up as much as possible?  The amount of the commission will still be a secret because no one will know how much of the gross price is made up of the commission.

Its an interesting question.     Presumably because they want the total price paid to be secret?

Clink just acted as middleman here.       Obviously the buyer knows what they paid.

That leaves us with the most likely scenario being that whatever member of the frazetta family owned Conan the Adventurer prior to sale not needing to know.    

Say Clink's commission was a million bucks.    You don't want the seller getting greedy and suddenly asking for more, so maybe the commission amount is kept secret.

But, you say, the deal is over?   Sure, but in that case they must not want to prejudice future transactions.

Whatever the truth is, they had their reasons.

Edited August 8 by Bronty

[vodou]

On 8/7/2024 at 12:13 PM, Bronty said:

The 8.75 does not include commission - see below.   Perhaps because clink doesn't want someone to know what the commission amount was.

FWIW I once did a private placement sale through CLINK and insisted on a firm net payout, not gross less commission.

After much balking, I got exactly what I wanted net, and was told the commission was waived.

[Bronty]

On 8/8/2024 at 12:14 PM, vodou said:

FWIW I once did a private placement sale through CLINK and insisted on a firm net payout, not gross less commission.

After much balking, I got exactly what I wanted net, and was told the commission was waived.

I wonder if it was in fact?   No reason not to believe them I suppose, but it seems a bit odd.  

I can't imagine they are waiving the commission on a 9m dollar deal that they can't even promote for 3-4 years due to a NDA.

Edited August 8 by Bronty

[vodou]

On 8/8/2024 at 12:29 PM, Bronty said:

I wonder if it was in fact?   No reason not to believe them I suppose, but it seems a bit odd.  

I can't imagine they are waiving the commission on a 9m dollar deal that they can't even promote for 3-4 years due to a NDA.

CLINK doesn't have BP. What I know is I was contacted by them, that a client wanted to try to make a deal and with that I named my number "net" (knowing full and well they would try to cut me down by 10%), CLINK hemmed and hawed for a while but eventually gave in - no SP/commission on my end. My only out-of-pocket on the deal was outbound shipping (back to CLINK, I do not know who the end buyer was).

[PhilipB2k17]

On 8/6/2024 at 9:13 PM, Bronty said:

Also, not sure if I’ve totally blanked it out somehow, but I don’t remember hearing about a Death Dealer 1 sale?   Can anyone speak to that?

Yeah. 

[adamstrange]

On 7/8/2024 at 3:23 PM, delekkerste said:

Just my  on this whole conversation - don't read if you just care about comic art:

I wouldn't say I'm totally on board with downturn thesis presented in this thread, but, count me in the camp that looks at this and thinks it's eventually going to end very, very badly:

We're adding $1 trillion to the national debt roughly every 100 days at a time when the pandemic is over and we aren't in a hot war with anyone. And that doesn't include all the debt at the state and local government level, much of which has been taken on at an unsustainable rate for decades and where the can just keeps getting kicked down the road. You know Poway Unified School District, just a hop from where you are in San Diego County, Scott? In 2012, the district borrowed $105 million and will owe nearly $1 billion when the debt comes due in 2051. At some point, it won't be possible to keep extending and pretending like this. 

Also note that the debt shown above doesn't include all the unfunded liabilities which could end up being multiples of the debt figure.  

Now, I fully understand that people have been warning about this for the past 35 years and there hasn't been a debt reckoning yet, as governments have used every trick in the book to kick the can and extend and pretend, whether it be quantitative easing (money printing) or suppressing interest rates (financial repression) to keep the compounding of this debt down. And no one wants to see the party end so the "bond vigilantes" of the '80s and '90s are dead - everyone is on board with keeping the party going for as long as possible.

Now, there are some people who think that because nothing too terrible has happened yet, that it will never happen. Kind of like the "boy who cried wolf" parable - they heard people warning about the debt in the late '80s. '90s, 2000s, etc. and now have become inured to any and all warning signs. Count me in the camp that believes that limits to unreality still exist, even if those limits were farther out than we once thought. There have been some very prominent voices (e.g., Stanley Druckenmiller, in the conversation for greatest of all-time investor) saying that we are now at levels where a cataclysmic debt crisis is no longer a 20-25 year away type of event. Some, like Jeff "The Bond King" Gundlach think it could be as little as 3-5 years away. 

Me, I don't know and don't think it's terribly useful to make predictions like this far in advance. But, it is in the back of my head as something I expect to see happen at some point in my lifetime. That said, I don't know that it's necessarily terrible for comic art, as I think the ultimate response to an ultimate debt reckoning will be massive money printing/debt monetization/currency debasement, which is why, in the big big picture, I want to be an owner of high quality assets whose nominal values will be supported by such policy action.  

How did you go bankrupt?

Ernest Hemingway:  "Two ways.  Gradually and then suddenly."

[PhilipB2k17]

Debt owed by the US gvt is not the same as debt led by state & local governments.  Local & State Debts get refinanced. It  get restructured. The debt holders don’t go around bankrupting states and municipalities wiling nilly. 
 

What we have is a POLITICAL problem, not a debt problem. People don’t want to pay taxes. So governments pay for more and more stuff with debt and bonds. 

[Silver Surfer]

On 8/8/2024 at 9:14 AM, vodou said:

FWIW I once did a private placement sale through CLINK and insisted on a firm net payout, not gross less commission.

After much balking, I got exactly what I wanted net, and was told the commission was waived.

So they bought it?

[MAY1979]

On 8/10/2024 at 2:51 AM, adamstrange said:

How did you go bankrupt?

Ernest Hemingway:  "Two ways.  Gradually and then suddenly."

“I spent half my money on gambling, alcohol and wild women. The other half I wasted.” - WC Fields

Edited August 10 by MAR1979

[vodou]

On 8/10/2024 at 12:29 PM, Silver Surfer said:

So they bought it?

Not unless they lied about there being a third party.