Til Death Do Us Part 2 2

[KirbyCollector]

I've read plenty of comments here from folks who stated their art would be going to the grave with them, no one is ever going to own it but them, etc. I understood the sentiment logically, but never emotionally -- and then I met someone who has a million dollars of art which has not seen the light of day for 40 to 50 years and won't see the light of day until his passing. The owner is the nicest and funniest guy in the world but wears stained and worn threads, drives a beater with no working A/C and barely scrapes by on Social Security. Yet he will not touch the art. Any of it. He has his reasons, and in his world those reasons make sense. 

God bless the collectors like him -- I understand you now.

Edited July 10 by KirbyCollector

[Will_K]

You said you would never tell !!      

Well, that collector is not taking it with him either.  If that collection ever comes on the market, please tell us all you can about him. 

Edited July 10 by Will_K

[cstojano]

I think that's called a mental illness

[John E.]

When you say he has a million dollars worth of art, is this original comic art or fine art?

I for sure will sell my art and in my lifetime. I just want to enjoy it for a really long time. Or, if I find no joy in it anymore I’ll sell it sooner. 

[thethedew]

So long as he has a will and an honest executor, I don't care.  Just so long as it isn't thrown away by grieving, ignorant family.

[KirbyCollector]

On 7/10/2024 at 9:05 PM, John E. said:

When you say he has a million dollars worth of art, is this original comic art or fine art?

I for sure will sell my art and in my lifetime. I just want to enjoy it for a really long time. Or, if I find no joy in it anymore I’ll sell it sooner. 

Covers and interiors all purchased for less than $50/each... his ROI is off the charts

Edited July 11 by KirbyCollector

[JadeGiant]

On 7/10/2024 at 10:53 PM, thethedew said:

So long as he has a will and an honest executor, I don't care.  Just so long as it isn't thrown away by grieving, ignorant family.

Agreed - this is worth asking the question to make sure the art is taken care of after he is no longer the caretaker

[PhilipB2k17]

On 7/10/2024 at 6:04 PM, KirbyCollector said:

I've read plenty of comments here from folks who stated their art would be going to the grave with them, no one is ever going to own it but them, etc. I understood the sentiment logically, but never emotionally -- and then I met someone who has a million dollars of art which has not seen the light of day for 40 to 50 years and won't see the light of day until his passing. The owner is the nicest and funniest guy in the world but wears stained and worn threads, drives a beater with no working A/C and barely scrapes by on Social Security. Yet he will not touch the art. Any of it. He has his reasons, and in his world those reasons make sense. 

God bless the collectors like him -- I understand you now.

Does he at least have heirs who will benefit? 

[PhilipB2k17]

Look. I will probably sell off some of my art if for no other reason than to upgrade. But I have had conversations with my wife and family about my collection and have made a provision in my will and estate documents for it. I told them that it is better to sell it after I shuffle off this mortal coil, so they can sell it off and not have to pay any capital gains taxes on it. (And I don't have a valuable enough collection for it to be subject to the estate tax). It's pretty portable, unlike a comic book collection. I can (right now) fit almost all of it into an artist's carrying case. That may change soon, but it's still easier to transport. 

[Dr. Balls]

On 7/10/2024 at 4:04 PM, KirbyCollector said:

I've read plenty of comments here from folks who stated their art would be going to the grave with them, no one is ever going to own it but them, etc. I understood the sentiment logically, but never emotionally -- and then I met someone who has a million dollars of art which has not seen the light of day for 40 to 50 years and won't see the light of day until his passing. The owner is the nicest and funniest guy in the world but wears stained and worn threads, drives a beater with no working A/C and barely scrapes by on Social Security. Yet he will not touch the art. Any of it. He has his reasons, and in his world those reasons make sense. 

God bless the collectors like him -- I understand you now.

My life's goal is to enjoy my art until the day I drop dead, but between now and then, anything can happen. Good for him, he clearly enjoys his art to the fullest regardless of value and has made life choices to allow him to hang onto what he gains enjoyment from.

[vheflin]

[KirbyCollector]

On 7/11/2024 at 9:54 AM, PhilipB2k17 said:

Does he at least have heirs who will benefit? 

He has heirs who sadly do not share any love for comics or OA. My kids are the same... same for the kids of the guy who runs the LCS near me... I suspect most of us are in that boat.

[J.Sid]

Hey, I'm sure my dad wishes I shared his love for Polka, but....

[PhilipB2k17]

On 7/11/2024 at 1:00 PM, KirbyCollector said:

He has heirs who sadly do not share any love for comics or OA. My kids are the same... same for the kids of the guy who runs the LCS near me... I suspect most of us are in that boat.

I just bought both my daughters comic art pages for their respective birthdays. They love it. My son in law binged Invincible and read the entire compendium and was impressed when I got a page of Invincible art recently. They definitely think my art collection is cool even if they don't necessarily collect it themselves. My wife tolerates it. 

[Brian Peck]

On 7/10/2024 at 3:04 PM, KirbyCollector said:

I've read plenty of comments here from folks who stated their art would be going to the grave with them, no one is ever going to own it but them, etc. I understood the sentiment logically, but never emotionally -- and then I met someone who has a million dollars of art which has not seen the light of day for 40 to 50 years and won't see the light of day until his passing. The owner is the nicest and funniest guy in the world but wears stained and worn threads, drives a beater with no working A/C and barely scrapes by on Social Security. Yet he will not touch the art. Any of it. He has his reasons, and in his world those reasons make sense. 

God bless the collectors like him -- I understand you now.

I know this is more about collectors and selling their collection after they die. But artists do need to consider this as well. For the some who have kept most of their artwork like Simonson and Austin. Back in 2015 Frank Thorne who has worked in the industry for over 60 years and had kept most of his artwork from his work at DC, Marvel and his own published works. He decided to sell it all, from his DC roar comics to Red Sonja and Ghita. He mentioned he wanted to sell it then because he didn't think his family would know how to liquidate it after his death. He sold most of his art, but after he died in 2021 the family still had some of his artwork. Which they have sold, but alot less work selling what was left compared to what he had in 2014.

[Pat Calhoun]

interesting thread: my contribution is tangential, pretty much riffing on the thread title...(ps: just in!)

[Bronty]

On 7/11/2024 at 1:54 PM, Brian Peck said:

I know this is more about collectors and selling their collection after they die. But artists do need to consider this as well. For the some who have kept most of their artwork like Simonson and Austin. Back in 2015 Frank Thorne who has worked in the industry for over 60 years and had kept most of his artwork from his work at DC, Marvel and his own published works. He decided to sell it all, from his DC roar comics to Red Sonja and Ghita. He mentioned he wanted to sell it then because he didn't think his family would know how to liquidate it after his death. He sold most of his art, but after he died in 2021 the family still had some of his artwork. Which they have sold, but alot less work selling what was left compared to what he had in 2014.

And they had the benefit of watching it be done the first time as well.    

On the other hand, you don't know if you're going to croak tomorrow or live decades more. 

[PhilipB2k17]

On 7/11/2024 at 1:54 PM, Brian Peck said:

I know this is more about collectors and selling their collection after they die. But artists do need to consider this as well. For the some who have kept most of their artwork like Simonson and Austin. Back in 2015 Frank Thorne who has worked in the industry for over 60 years and had kept most of his artwork from his work at DC, Marvel and his own published works. He decided to sell it all, from his DC roar comics to Red Sonja and Ghita. He mentioned he wanted to sell it then because he didn't think his family would know how to liquidate it after his death. He sold most of his art, but after he died in 2021 the family still had some of his artwork. Which they have sold, but alot less work selling what was left compared to what he had in 2014.

I think both Austin and Simonson have undoubtedly planned for this. In both their cases, they probably have enough valuable art that it might hit the estate tax trip wire.

[artdealer]

On 7/11/2024 at 4:33 PM, PhilipB2k17 said:

I think both Austin and Simonson have undoubtedly planned for this. In both their cases, they probably have enough valuable art that it might hit the estate tax trip wire.

Your assumption about one of the 2 artists is wrong. 

[JC25427N]

On 7/11/2024 at 5:10 PM, artdealer said:

Your assumption about one of the 2 artists is wrong. 

The planning or the value of their collection?