[BCMA] CMA Clip Serv: Cdn Museum pays $650,000 for US vase

[Moderated BCMA subscriber listserv.]

Here is a website that features the Ptarmigan Vase, purchased by the
National Gallery of Canada.  http://www.artdaily.com/index.asp?int_sec=2
<http://www.artdaily.com/index.asp?int_sec=2&int_new=44554> &int_new=44554
 
Esteemed colleagues should be reminded that the Canadian (Revenue Canada)
definition of fair market value: "Fair market value generally means the
highest price, expressed in dollars, that a property would bring n an open
and unrestricted market between a willing buyer and a willing seller who are
both knowledgeable, informed, and prudent, and who are acting independently
of each other."
 
So the fair market value is $650,000.  Personal opinions of its worth are
quite a different matter.  
 
I, for one, am looking forward to seeing it, the next time I am in Ottawa. 
 
Roger H. Boulet
6114 Peach Orchard Road
Summerland, BC
V0H 1Z6
email:  <mailto:rhboulet at telus.net> rhboulet at telus.net
 <http://www3.telus.net/rhboulet/> http://www3.telus.net/rhboulet/
 

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From: bcma-bounces at lists.vvv.com [mailto:bcma-bounces at lists.vvv.com] On
Behalf Of Moderated BCMA subscriber listserv.
Sent: January 25, 2011 3:42 PM
To: bcma at lists.vvv.com
Subject: Re: [BCMA] CMA Clip Serv: Cdn Museum pays $650,000 for US vase


What's the current exchange rate on the Looney?
 
Which museum looney coughed-up $650K for a piece of coloured glass
commemorating a nondescript forgotten non-producing hole in the side of an
unnamed mountain? Did you see that: more than 500% of what the market
believed it was worth?
 
There's presently a busload of Florida realtors enroute to that Museum. 
 
Dan Gallacher

----- Original Message ----- 
From: Moderated BCMA  <mailto:bcma at lists.vvv.com> subscriber listserv. 
To: bcma at lists.vvv.com 
Sent: Tuesday, January 25, 2011 9:39 AM
Subject: [BCMA] CMA Clip Serv: Cdn Museum pays $650,000 for US vase

Canadian museum pays $650,000 for U.S. vase 
Postmedia News, Tuesday, January 25, 2011 


In a bidding battle over a unique vase at a New York auction last week -
which led to a hammer price about five times higher than expected - an
unidentified Canadian museum acquired a poignant artifact recalling a
renowned American artist's mining misadventures in Canada more than a
century ago. 


The Ptarmigan Vase, created by top U.S. jewelry designer Paulding Farnham in
the early 1900s, was named for the gold mine in B.C.'s Selkirk Mountains
that eventually ruined Farnham's marriage and personal finances, but helped
kick-start the mining industry in that part of the province. 


The object Farnham created to celebrate his stake in the Canadian mine sold
at Sotheby's on Friday for more than $650,000 - far beyond the object's
high-end, pre-sale estimate of $120,000. 


Farnham was the top designer at Tiffany & Co., the New York-based jewelry
empire, in the late 1800s. But his bid to make a fortune at the B.C. mine
site led him to pour so much money and time into the precious-metal play
that his wife Sally finally filed for divorce on grounds of abandonment. 


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