5.75M for 16.5M Dollars Retail in Historically Important Fine Art-Denver CO-Relocateable
26 MUSEUM QUALITY works ranging in retail value from an estimated 250K dollars to 8M dollars each which the Seller estimates has a total current retail value of approximately 16.5M dollars. The Seller is past retirement age, has personal family commitments, and knows that the current market is soft so he feels forced to sell for only 5.75M. The Seller is known in the International Art Community and has a great reputation. He was directly involved in acquiring each piece and has well documented proof of Provenance.
He has held onto these large museum quality pieces for his personal collection based the historical and emotional impact they have had and because he believed over time they would appreciate. The Seller was told by an art expert about 12 years ago that the main piece of that is labeled as the 1st piece in the introduction above could be worth 8M dollars on its own someday. It could be a featured piece in a US Art Museum. The seller believes that a buyer of this art collection could loan them to a major museum for an exhibit where the new owner will put their name on the collection getting recognition for loaning the pieces for the public to appreciate. This can also help the collection appreciate in value.
The Seller believes that there is the potential for a buyer to make 5M dollars to 11M dollars worth of “net profit” over the next 3 to 15 years off of this artwork one of 3 ways: 1) After buying the museum quality pieces, get them scheduled over the next 5 years into museums as an exhibit where the art will get attention and articles written about them. This can lead to offers. Just holding onto these pieces should result in a very high rate of return over time. 2) Feature several pieces at a time in a Fine Art Gallery in a major city. 3) Both: Rotate pieces between museums and the Gallery making it clear the collection is for sale.
Seller has cataloged the museum collection so it should be possible to get it scheduled into museum exhibits. He has acquired these pieces throughout his life and has not put them up for sale until 2018. They are very emotional and historical pieces of original art. To be clear, this is a business opportunity to make a lot of money through selling this art for profit over time. He is heartbroken he has outlived him being able to wait out this happening. This art is of historical importance. It is high end museum quality fine art in a size that you currently can’t find in any art gallery in the United States. He knows each pieces history, has met most of the artists and/or their families/descendants, and has the legal proof of ownership/exporting, etc.
He is asking 5.75M dollars for the 16.5M dollars in retail value artwork which is a great deal for a buyer BUT he knows he might have to carry a little of the final purchase price or allow Buyer(s) to break up the collection for no less than 1M in purchases at a time. He tried both 14M for all of his collection mid last year and then later on 8.9M for these 26 pieces with no luck. He has now priced this as low as he can afford to because he is out of time. He prefers that a buyer buy the whole collection. This will not qualify for a bank loan and he will only meet with or talk to VERY SERIOUS QUALIFIED BUYERS. He is also open to flying in for special showings of the art for up to a year, transitioning his knowledge completely pre and post closing. In other words, the Seller is well known and can occasionally attend the owner showing the collection whether at home or at a museum and can help the new owner sell the artwork.
Plus, there are articles in the data room to learn his history, reputation, and knowledge of this artwork/artists.