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Sorry Pearls but I fear you are incorrect. FT article actually mentions Showpiece purchased the work for £315,000 from Tanya Baxter: https://www.ft.com/content/b8735abd-d67a-4eb5-b44f-06dae86094f8. Carpe seems spot on with £400,000.
Sorry if wrong, but they all look quite similar. I think Showpiece have decided that a few hundred thousand is the right kind of price point as the coin was sold out in a week but the expensive Magenta is still mostly unsold.
Carp, I think you must be wrong. On the Showpiece site it does advise that this is One of only three pieces not intended for public sale.
The weblink you provide looks like a very similar item but is pretty clearly a set of four.....and if on sale via an auction was then sold in public.
Good effort though
The Reigning Queen print offered for fractional ownership on Showpiece was in a set of 4 offered in Menzies Auctions in Australia but sold privately. My guess is that the print will be offered by Showpiece in the £400,000 area. The guide price for the sale was A$800,000 to $1,000,000.
https://www.menziesartbrands.com/catalogue-details/18759?page=1
Agree ucohen. Whilst I would like the Warhol to be an expensive one, logic tells me that the market for fractional ownership is not perhaps large enough currently to deal with an item costing much more than a couple of million pounds. Even the 1c did well, but only when advertised. Afterwards, sales were slow.
I suspect that a bit like other asset classes, there are a body of investors / interest groups that monitor each new offering, however they only have so much buying power or interest in the item being offered.
The Achilles heel, if you can call it that, in all this is that Showpiece has to buy the item first in order to get the fractional rights to it. That means holding illiquid assets for extended periods of time.
If they plan to sell the next item for say £50 - £100 per fraction, I would say their Warhol is probably valued at around £2m maximum in order to allow a reasonable level of fractions to be sold in it.
Still, the publicity over the one sold for record amounts cannot be a bad thing.
I was trying to find something like the link you posted. I wouldn't expect every item to be priced at let's say... £1 million, for an argument sake. So "the Queen" presented there was sold for £352,800 which isn't bad at all, is it? - The estimate was £70,000-100,000. It looks rather encouraging and positive to me.
It is very likely the next showpiece will be a much cheaper Marilyn. Warhol drew many of them in different mediums. See example.
https://www.phillips.com/detail/andy-warhol/NY030122/40
The point is Victoria that it shows the value of the Warhol art. Clearly ordinary people cannot buy such art, the only way then is via fractional ownership. I think the sale has been excellent publicity, although I don't know if SG or Showpiece are capitalising on the connection given a Warhol item that looks similar to the one recently sold for a record amount is their next item to be sold via Showpiece.
Rather a stretch to link the Warhol art item to the prospects for Showpiece and through them for SGI but I suppose only time will tell. However, the market doesn’t seem to have been excited by the connection which I think tells us a lot.
Victoria, it hopefully demonstrates to viewers and investors here how attractive Warhol art now is, and points them to the oncoming chance to own part of an iconic one in the forthcoming Showpiece offering in which S.G. has a minority share holding. The only recently sold in auction looks similar to the one now showing on Showpiece.......
Hopefully SG’s coffers will soon be swelled again!
To me it tells that pieces of art may have their periods of hibernation but their directions in terms of value will always be upward. SG? - They much involved I should say. It looks like a good timing for the "Lady" on Showpiece, too!
What does that mean for SGI, Pearls, and why?
No, I didn't have any exposure to McColls. I have been buying REA prefs and Sterling issue and I'm likely to pick up some of the Miller Homes junk issue that's just happened. I take little interest in press speculation and try to just apply my own view's of the potential for the acquirer. If that doesn't stack up, then I'm happy to miss out if I've got it wrong. I'd rather miss out than gamble and loose cash. I didn't think Ashley was going to make an offer on acceptable terms, but I think I said that at the time. Saying that I wouldn't suggest opening up a new position in REA today, too much of the juice has already been squeezed.
FCA....they need to be less involved and not more.Even better, we shouldn't think there's ever easy money to be made in the market.
Interesting few days, lots of things getting well marked down. I'm sure that will put pressure on SGI. I mean, why buy speculative, when you might be able to buy quality at a discount?
I've got 10% of my portfolio hedged with inflation projection. That's taken a bit off the correction, but I'm sure there's more pain to come. I think DARK look vulnerable. I'm sure you'll disagree. DARK could head south and stay there. I keep looking at LMP. I've always thought it's a quality team and it's getting a kicking at the moment. I'm also thinking about TLEP/TLEI they could be effected by a global recession but less than oilers. They are the only listed "green" stock that appeals.
Devon, out of curiosity, were you involved on the debt for McColls? That is a real nightmare for shareholders today. Luckily I missed that one, but I do think the news that Morrisons might have been preparing an offer in last night's press created a false market, and as a result a lot of retail investors have lost again. This does remind me of Debenhams where a day or two before admin there, Mike Ashley was supposed to be making an offer.
It seems these last minute 'rescue offers' are exactly the opposite., but in both cases large numbers of investors bought in thinking a rescue deal was about to be unveiled. I do think the FCA needs to look at these sorts of announcements more heavily and ban them if they are not actually likely to proceed.
Sellers out again today> soft end to the week, softer than Wednesday's 6% drop? Maybe.
That’s certainly one way of looking at it.
Cannot believe the size of drop since the recent update. Clearly the message is not getting through at all.
Down nearly 6% today, we are edging towards that predicted 0.5 pence. There's going to be a lot
of pain here.....
I believe an RNS will be issued shortly as well regarding the new Marketplace on Showpiece which is just about to start trading.
A very interesting development.
Am increasingly amazed that the price is so low
A nice surprise for the weekend! That can explain some heavier trades today. I’m not too sure now if the share price will stay under 2p for much longer… However long it takes, things are progressing.
Just noticed we have our third offering on Showpiece: a Warhol piece of art!
Certainly a chance to own a fraction of some of art's finest treasures at this rate!
I wonder if this will sell out faster than the coin?
Something good may be coming… even Showpiece trading platform should commence soon. But the share price here is a different thing.
A load of big trades this afternoon, is a big announcement coming?
Maybe Pearls instead of doing the hokey cokey you should go long on ARB. It’s going to do far better than SGI, you’ll see. Each to their own, all the best.
Everup, it might interest you to know I have been in and out of ARB a couple of times in recent months, and made a decent return. The problem is that it seems to have lost its volatility. Personally I think it is quite undervalued now, the problem is that bitcoin just has to drop a small amount and it seems to overly affect the ARB price.
Seems to be far less interest in it now - a lot less comments and the share is not moving much but seems to have a large spread which can be difficult.