Jumbo PSA 5(mc) T206 Wagner- Goldin Auctions- No Reserve

[Craig M]

At the start of this thread, David M proposed that Net54 members pool our money together and take a stab at this Wagner. The proposal was to kick in $100 and board members started getting on board. Then Ruben stepped it up to everyone putting forth $250. Board members continued to jump on.

What I would like to realistically propose that each of us put forth $500. I think that even the guy on a strict collecting budget would be able to afford this and would like to get in on the action.

I suggest a member with credibility that joined in either March or April of 2009 be the point of contact and money man where we can send our money. IF we do not win the Wagner, all monies will be returned less a $5 fee for money order and postage.

I am prepared today to send $500.

Craig

[rainier2004]

Originally Posted by Craig M

At the start of this thread, David M proposed that Net54 members pool our money together and take a stab at this Wagner. The proposal was to kick in $100 and board members started getting on board. Then Ruben stepped it up to everyone putting forth $250. Board members continued to jump on.

What I would like to realistically propose that each of us put forth $500. I think that even the guy on a strict collecting budget would be able to afford this and would like to get in on the action.

I suggest a member with credibility that joined in either March or April of 2009 be the point of contact and money man where we can send our money. IF we do not win the Wagner, all monies will be returned less a $5 fee for money order and postage.

I am prepared today to send $500.

Craig

This is an interesting idea, but the math wouldnt work for me. Even if I had the money for this, youd need 1000 members at $500 per to generate some real funds. It would have to get to a point requiring far less members, at $2000 each thats still 250 folks. It would be sweet to have a Wags siiting on the mantle for a week every five years...

[Cerberus]

So far, all of the proposals involve each participant "investing" the same amount. How about allowing participants to invest whatever amount they wish, with an agreed-upon minimum of, for example, $1,000.

Clearly, one's percentage ownership in the card (and in net profits upon re-sale), would be equal to the percentage said individual's contribution bears to the overall purchase price. When it came time to "vote" on any major issue (such as when/if to re-sell), each individual would have a similar pro-rata number of votes, on the particular issue.

In order to make sure that no one party had control of any vote (because he may have decided to contribute more than 50% of the overall purchase price), you can limit any one individual's contribution (including family members, etc.) to a certain percentage (40% as an example), of the overall purchase price.

Obviously, somewhat unwieldy to administrate, and adequate insurance would have to be purchased, as well. The card would be "passed around," like the Stanley Cup--again with each owner having physical possession of the grail, for a number of days during any given year, equal to his/her percentage of ownership.

Food for thought?

Michael

[botn]

What happens when participants want or need to liquidate their interest prior to sale of the card? Will someone be able to do that? Do they get bought out at cost of their initial investment, at FMV or something in between? What if the amount is so large that funds are not available to pay the exiting participant? What about the possible tax reporting on the eventual disposition. I think a formal partnership with a partnership agreement would have to be established.

[Runscott]

^

Originally Posted by botn

What happens when participants want or need to liquidate their interest prior to sale of the card? Will someone be able to do that? Do they get bought out at cost of their initial investment, at FMV or something in between? What if the amount is so large that funds are not available to pay the exiting participant? What about the possible tax reporting on the eventual disposition. I think a formal partnership with a partnership agreement would have to be established.

Greg, a far more simple way to handle would be to cut the card up into slivers and have Leaf encapsulate each sliver, along with a Net54 unique 'sliver number'. Then you can sell it in the B/S/T section.

But if you're going to do that, probably better to go after the Nun's Wagner (or Andrew's ?)

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[drmondobueno]

Do it the american way. Sell shares at $ 100 or $250 each. That way someone who would like to touch the card more than once every 3 years could either a) buy more shares in accordance with their level of desire and, as future circumstances occur b) sell or buy other shares as one sees fit.

Of course we would have to open the Net54 stock exchange and Leon would have to wear a striped silk suit

[steve B]

And if we all owned a bit of it, how often do you think it would be cracked out, then resubmitted by the next person who wanted it slabbed, maybe with SGC, then resubbed to PSA, then maybe used by someone to make a splash while starting his own grading company, then cracked out again.......

before too long the pop reports would make it seem as if Wagners were the most common card in the set.

hmmmm........That might prompt the companies to fix the pop reports somehow......Count me in for a share or two

Steve B

[Cerberus]

If someone wishes to liquidate, he/she is required to offer up his interest on a "right of first refusal basis," to the other co-owners on the board. As far as the value is concerned, the interest(s) for sale could be offered on the bst, in an "auction" format, with the market thereby determining the value. Liquidated shares could not be purchased by someone who already had a big enough piece, such that the acquisition(s) would put him/her over the 40% (or whatever's agreed upon), maximum ownership percentage threshold.

[Jlighter]

I think most importantly, how would this effect everyone's Monster Number?

[travrosty]

it's the dumbest idea on planet earth.