Tuesday, October 12, 2010

This Bear Market is Really Nice

"Rich." "High Net Worth." We toss those terms around as if wealth were stable and easy to value. Ha! Priced Florida condos or Arizona tract houses lately?

Yet if some of yesteryear's six-figure assets are now worth little, items once purchased for a pittance may now represent real money.

Paul Greenwood, who turned a hedge fund into "sort of a Ponzi scheme," spent $3 million of his loot on old teddy bears. Tomorrow Christie's auctions them off, including this distinctive Steiff harlequin bear.

For another glimpse of old stuff that now possesses significant value, see The Telegraph's Rare and Unusual Ephemera for Sale.

Who knew an autographed color photo of Nixon was a collector's item?

Moral: Name an experienced trust bank as your executor. A trust officer will seek the expert advice necessary to determine that your comic book collection is now worth more than your Vegas penthouse.

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