cancel
Showing results for 
Search instead for 
Did you mean: 
     
Highlighted
Explorer ○

Made over 1000% and am 100% depressed .....

In 2012, I bought a print by this artist Banksy, not because I liked Banksy so much as I love the late great painter Keith Haring and one of his dogs is a main feature in the print.  For reasons unknown to me except that it was a wild-hair impulse purchase, I plunked down 6K on the thing, buying it off a fellow on eBay.

In the years since, all I've done is watch the print go up in value as I fretted about it and stewed about it and decided I didn't even like it enough to hang on my walls.  I stored it at a friend's climate-controlled house for a while until, when it was worth $40k, his wife made me take it back.  Then I moved several times and each time, dealing with the Banksy was a major issue.  Such a problem to have, right?

And then I"m geting older, with a progressive illness, and a daughter who, if I left it to her, wouldn't know what to do with it.  So, I put it up for sale and it left the house last week, to the tune of 70k.

Investment Gain $64,000.00
ROI 1,066.67%
Annualized ROI 36.05%
Investment Length 7.98 years

And now all I'm doing is stewing and fretting over the possibility that 1/ I should have held onto the **bleep** thing for another 7.98 years and seen what the value was and 2/ that I'll never make that kind of successful *lucky* investment again.

And now I'm looking at that money in my bank account making 0% or whatever it is and wondering what I should do with it.  Or what I could do with it that might equal that magnificent ROI.  Ain't nothing, and if I try, I know what'll happen.  But, **bleep** ...

It's one of those things that I'm feeling as i get older, that it'll never happen again.  It just won't.  Crap.

10 Replies
Highlighted
Explorer ○

Re: Made over 1000% and am 100% depressed .....

I guess this is a good problem to have.  It doesn’t sound like the painting gave you much happiness so why not say good riddance?  

Tug McGraw, a pro baseball player, was asked what he would do with his high salary and he said something to the effect of ‘spend 90 percent on women and booze and I’ll probably waste the rest.’ Or, you could do a hybrid approach....

—give 25 percent to a charity like a food bank

—buy more art as an investment with 25 percent of your gain.  You must have a good eye and artists need support these days

—buy a 40/60 mutual fund with 25 percent 

—spend the other 25 percent like Tug and report back.

Highlighted
Follower ○○○

Re: Made over 1000% and am 100% depressed .....

Sorry about your progressive disease.  Maybe with the profit, you can make some accommodations to your living quarters, or help your current or future caretaker make life easier for you. Or since you know so much about art, buy something you can hang on the wall and enjoy.

Three decades ago, I purchased two watercolor etchings from an art and framing store.  At the time Carol Collette lived here in New England, and drew local realistic scenes. The two etchings sized 8 by 12, were only $10 each, because I bought them during the HW's recession, Each are limited to 400 copies. Including the custom made frames, I probably spent about $150. Or maybe more. Today, together maybe they could fetch $150 to $200. Never tried to sell them. Her estimate for insurance purposes, would be around $480.

https://www.carolcollette.com/watercolors/new-england/autumn-landscape-paintings

One difference is that I hung them in my entrance way. I continue to enjoy them, as I have for a very long time. A nurse practitioner was here last week to fill in for a CNA. She stopped to look at them. Then we discussed the artwork for about 10 minutes. I am so glad I took the time to choose them, and display them in my home, where I see them daily. In this sense, I consider them one of the best investments I ever made.

 

Highlighted
Frequent Contributor

Re: Made over 1000% and am 100% depressed .....

I'm not clear. Are you complaining or bragging?  

You need to stop whining. I'll take the money off your hands, if that helps.

N.

Highlighted
Participant ○

Re: Made over 1000% and am 100% depressed .....

I too am sorry to hear of your progressive disease.

It sounds like the Banksy drawing stopped bringing joy. Congratulations on the excellent investment, and timely decision that its future lay elsewhere! 

Highlighted
Explorer ○

Re: Made over 1000% and am 100% depressed .....

norbert: prolly a little of both, ifn that's okay.  or a lot.

also was an early fan of this street artist named stik.  everyone hated him.  just some homeless dude spray painting stick figures all over london, bleh, he ain't going nowhere.  but i liked his lines.  and, as time has passed, so do lots folks.  what i have of his i love inordinately.

Firefox_Screenshot_2020-06-22T11-07-31.634Z.pngFirefox_Screenshot_2020-06-22T11-11-08.475Z.png

i did finally manage to buy a genuine signed keith haring.  unfortunately, the primary image is of a woman's private parts, so, signed or not, it ain't going on no wall where i live with my girlfriend.  and even if i was single, man, it's a little much.  still, it's signed!

but my art days are done.  i haven't found anyone new who moves me in a long time.  i like the idea of giving some of my banksy $ away and perhaps being prudent w/ the rest of it.  i would try to find an affordable porsche but my feet no longer work to press a clutch.  crumb.  i really am kind of bummed out today.  okay.  onward, wobbily so.

0 Kudos
Highlighted
Frequent Contributor

Re: Made over 1000% and am 100% depressed .....


@linter wrote:

In 2012, I bought a print by this artist Banksy, not because I liked Banksy so much as I love the late great painter Keith Haring and one of his dogs is a main feature in the print.  For reasons unknown to me except that it was a wild-hair impulse purchase, I plunked down 6K on the thing, buying it off a fellow on eBay.

In the years since, all I've done is watch the print go up in value as I fretted about it and stewed about it and decided I didn't even like it enough to hang on my walls.  I stored it at a friend's climate-controlled house for a while until, when it was worth $40k, his wife made me take it back.  Then I moved several times and each time, dealing with the Banksy was a major issue.  Such a problem to have, right?

And then I"m geting older, with a progressive illness, and a daughter who, if I left it to her, wouldn't know what to do with it.  So, I put it up for sale and it left the house last week, to the tune of 70k.

Investment Gain $64,000.00
ROI 1,066.67%
Annualized ROI 36.05%
Investment Length 7.98 years

And now all I'm doing is stewing and fretting over the possibility that 1/ I should have held onto the **bleep** thing for another 7.98 years and seen what the value was and 2/ that I'll never make that kind of successful *lucky* investment again.

And now I'm looking at that money in my bank account making 0% or whatever it is and wondering what I should do with it.  Or what I could do with it that might equal that magnificent ROI.  Ain't nothing, and if I try, I know what'll happen.  But, **bleep** ...

It's one of those things that I'm feeling as i get older, that it'll never happen again.  It just won't.  Crap.


         Well I made about a 600% return on AMZN stock so far, spent some, “banked” some and let the rest ride. I’am happy my retirement income is more secure and with what I invested in. It all goes to charity, the kids or LTC in the end, so what. You got rid of a perceived investment “problem” and made money so I’am with the others. After the best possible result this is your take? Take a long walk each morning and see how others in the world live.

 

 

 

0 Kudos
Highlighted
Contributor ○○○

Re: Made over 1000% and am 100% depressed .....

Want a little cheese with the whine? ;-)

You lucked out and did well. Fund your families IRAs or average it in with your other taxable account investments.


@linter wrote:

In 2012, I bought a print by this artist Banksy, not because I liked Banksy so much as I love the late great painter Keith Haring and one of his dogs is a main feature in the print.  For reasons unknown to me except that it was a wild-hair impulse purchase, I plunked down 6K on the thing, buying it off a fellow on eBay.

In the years since, all I've done is watch the print go up in value as I fretted about it and stewed about it and decided I didn't even like it enough to hang on my walls.  I stored it at a friend's climate-controlled house for a while until, when it was worth $40k, his wife made me take it back.  Then I moved several times and each time, dealing with the Banksy was a major issue.  Such a problem to have, right?

And then I"m geting older, with a progressive illness, and a daughter who, if I left it to her, wouldn't know what to do with it.  So, I put it up for sale and it left the house last week, to the tune of 70k.

Investment Gain $64,000.00
ROI 1,066.67%
Annualized ROI 36.05%
Investment Length 7.98 years

And now all I'm doing is stewing and fretting over the possibility that 1/ I should have held onto the **bleep** thing for another 7.98 years and seen what the value was and 2/ that I'll never make that kind of successful *lucky* investment again.

And now I'm looking at that money in my bank account making 0% or whatever it is and wondering what I should do with it.  Or what I could do with it that might equal that magnificent ROI.  Ain't nothing, and if I try, I know what'll happen.  But, **bleep** ...

It's one of those things that I'm feeling as i get older, that it'll never happen again.  It just won't.  Crap.


 

Highlighted
Explorer ○

Re: Made over 1000% and am 100% depressed .....

Thanks for the insight about your life. It seems that u have a gift to understand how the art world operates. I'm glad you have cashed in on your good fortune & willingness to gamble on a work of art. 

I've always thought that a lot of the value of art is in its ability to dodge the reach of the tax man. As the very wealthy are great students of how that is to be accomplished. I wonder how u will treat the capital gain that has occurred in this transaction. I'm guessing that it will be reported by someone & u will be expected to report the results & pay the appropriate amounts to the various & sundry taxing authorities.

But your message did prompt me to search for banksy & per wikipedia his brand is his anonymity which makes his works valuable.  Apparently though with the advent of artificial intelligence his identity has been smoked out to a high degree of probability.  Banksy is often assumed to be Robin Gunningham, born on 28 July 1973 in Yate, 12 miles (19 km) from Bristol,.

 

As long as he doesn't come out though, I'm presuming that the art world will accept his brand & maintain the value of his past works premised on that anonymity. In the  world these days with the power of artificial intelligence identifying everyone, someone who can maintain the perception of anonymity may still keep his works cachet.

I thought the idea about supporting other artists was excellent & I agree wholeheartedly with that being a good purpose to be accomplished by your windfall.

 

 

 

 

0 Kudos
Highlighted
Explorer ○○○

Re: Made over 1000% and am 100% depressed .....

Always try to focus on the pluses...you made some great money. If you kept it  a burglar could have stolen it,  the value could have gone down Etc. Every day I say thanks for all the good things I have.  I try not to focus on the bad everyone must face.

 

0 Kudos
Highlighted
Participant ○○○

Re: Made over 1000% and am 100% depressed .....

Some % of a man's retirement income should be spent as Tug suggests. 

Use it or lose it.

0 Kudos
Announcements