Wednesday, August 26, 2015

Most Expensive Listed Home in California Sold

A three-story, 9,235-square-foot home, located at 440 Golden Gate Avenue, Belvedere, in Tiburon, in the San Francisco Bay Area, had originally been listed at $65 million has just been sold. The estate, called Locksley Hall, includes a pool, a poolhouse, and even a panic room.

The property, built in 1895, just sold today for $47.5 million, which is a record for the Bay Area. One benefit to owning the home is the reduced property taxes, according to Curbed, because the residence is a historic property.

Of course, the home has an outstanding view of the San Francisco Bay. The name of the buyer was not disclosed.

Check out the video below of this fantastic real estate and its views from Neal Ward Properties.


Monday, June 15, 2015

Where to Get Non-Recourse Loans for Your Art, Rolexes, and Other Fine Items

Today, The Wall Street Journal ran an excellent article on how to get a loan secured by artwork (6/15/15 page R6). Have you ever needed some cash to pay off a high interest loan, or maybe there are some antiques or art that is coming up for auction, that you want to purchase, but your funds are temporarily tied up? Or maybe you just want to invest some funds in a startup, but you don't want to sell a valuable item to make the investment?


What's a collector to do? Borrow against your individual artwork or antique or the whole collection. It may be hard to believe but there are actually lenders that will provide you with non-recourse loans on these items, including jewelry and fine wine.

Usually reserved for real estate, a non-recourse loan is one that is solely and exclusively secured by a particular asset or group of assets. If the value of the asset drops below the amount of the loan, and you can't pay off the loan, then the lender can't come after you for the difference. The lender can only claim the asset or assets backing the loan. Whereas, if you have a recourse loan, the lender, in simple terms, can come after your house, your bank accounts, your stock portfolio, and all your other assets to satisfy the loan if you are unable to pay it off.

Now you are asking, "Where can I get a recourse loan?" Here are several lenders in alphabetical order.  Terms and interest rates vary across the board, so you would need to contact the companies directly for more information.

ArtAssure Ltd.
http://www.artassure.com
212-472-7770
aedelman @ artassure.com

Art Capital Group
http://artcapitalgroup.com
info @ artcapitalgroup.com
212-585-3939

Borro
In the UK:
https://www.borro.com/uk
0808 250 0962
In the US:
https://www.borro.com/home-ps-us
1-888-487-1345

Emigrant Bank Fine Art Finance
http://www.emigrantbankfineart.com
212-850-4500
augenblicka @ emigrantbankfineart.com

Falcon Fine Art
http://www.falconfineart.com/about-falcon-fine-art/
44 (0) 20 7337 6200
tim.hunter @ falconfineart.com

Right Capital
http://www.rightcapital.co.uk
44 (0) 207 396 5500
info @ rightcapital.co.uk

Thomas Gonzales Art Loans
http://www.thomasgonzalez.com/home-en-GB/
49 (0) 30 - 206 255 31
info @ thomasgonzalez.com

Sunday, June 14, 2015

Would You Crush a $10,000 Gold Apple Watch?

If you had paid $10,000 for an 18k yellow gold Apple watch, would you have crushed it with two heavy duty magnets? Well one guy did just that. The neodymium magnets provide 650 pounds of force.




Friday, June 5, 2015

You Could Have Bought Mozart's Hair for $53,000

Here is a collectible for the billionaire who has everything. There was an auction held at Sotheby's on May 28 in London which had some interesting things for sale, many of which are music related. The auction, "Music, Continental and Russian Books and Manuscripts," is selling, along with many other items, locks of hair.

Probably the most unusual items were the locks of hair of Mozart and Beethoven. Mozart's had a sale estimate of $14,800 and $17,800, and Beethoven's were $3,000 to $4,500. Mozart's hair sold for an incredible 35.000 GBP ($53,456). Even Beethoven was hammered at an amazing 8,125 GBP ($12,413).

Total sales for the auction amounted to $4,076,597.38.

Saturday, May 23, 2015

New Record Price for Art - Unknown Buyer

Femmes d'Alger  (Version "O")
[
courtesy of Wikipedia]
Recently, at Christie's in New York City, a Picasso painting was hammered at auction for a record-setting price of  $179 million. The painting is called Pablo Picasso's "Femmes d'Alger" (Version "O").

The last time the paining hit the market, it went for $31.9 million dollars in 1997, purchased by a European collector.

However, the new buyer has remained anonymous. Originally thought it was Hamad bin Jassim bin Jaber Al Than, the prime minister of Qatar. But sources now say it is not him.



Wednesday, May 13, 2015

$52 Million for a Painting, Billion Dollar Week for Christie's, $30 Million Ruby

It has been a busy and profitable week for auctioneers. Records are being broken, and high prices are being paid. Here is a quick rundown of recent luxury auction activity.

A painting by Lucian Freud sold for $56.2 million at a Christie's auction. The painting was "Benefits Supervisor Resting."

A 25 carat Burmese ruby set in a platinum ring accompanied by diamonds was hammered at $30.3 million at a Sotheby's auction.

An auction house sold more than $1 billion of art in one week for the first time ever. That auction house was Christie's, which sold postwar and contemporary art.

Sunday, March 29, 2015

Will You Be Buying the Gold Apple Watch?



Some people can hardly wait. The new Apple Watch series will be available on April 24, less than a month away. Although the announcement was back on September 9, interest in the release has been steadily growing, especially in the press. And of course, for the billionaire next door, the interest has been in the Apple Watch Edition series.

The Edition collection includes eight styles of the Apple Watch which is made with gold. The watch case utilizes 18-karat gold that is up to twice as hard as regular gold. The display uses polished sapphire crystal.

Choices include yellow gold and rose gold, with various styles of bands. For only $10,000, how can you go wrong?

Check out the video on the watch at the link below:

http://www.apple.com/watch/apple-watch-edition/

Saturday, March 14, 2015

Billionaire Plans to Start Mining the Moon for Gold

Billionaire Naveen Jain has set up a company called Moon Express to start a mining operation on the moon. His company, based in Mountain View, California, is in partnership with NASA.

Moon Express plans to send its first robotic spacecraft to the moon next year. The company plans to mine for various minerals including gold, cobalt, iron, palladium, and platinum. The company is the first private business to test a prototype of its lander, which caused it to win Google's $1 million milestone prize.

If the company finds a lot of gold on the moon that it can bring back, will it cause the price of gold to drop?



$60k for a Letter to Coretta Scott King signed by President Johnson

At Quinn's Auction Galleries in Falls Church, Virginia, a letter to Coretta Scott King, widow of civil rights activist Martin Luther King Jr., from President Lyndon B. Johnson, was hammered at $60,000, which was the starting bid. The letter was signed by the President.

The letter was originally given to Harry Belafonte, which gave it to his half sister, Shirley Cooks, who consigned it to the auction. The letter was actually expected to sell for much more.


Tuesday, February 17, 2015

Pay $358 million for a Boeing 747-8 then Have it Tricked Out by Greenpoint

 The Boeing 747-8 is the largest passenger jet made by Boeing.  This 200 foot long jet can be purchased for about $358 million. You can travel in it up to 9,200 miles nonstop.

But to make it really look nice, you can have Greenpoint renovate the interior.  Greenpoint is a  Kirkland, Washington based company that specializes in luxury custom aircraft interiors. The company just completed its first 747-8 interior.

Check out what you could get in your jet