The Swedes are selling a $120 million (aka 47 euro) Rembrandt painting for only $49 million. Closer inspection reveals however, that they are actually trying to sell a plaque with someone's name on it for $49 million. Confused? Don't be. They will sell you the painting on the condition that you give it right back to them. Really, I am not making this up. It will hang in the same place in the same museum for perpetuity (it's not you loaning it to them, you are giving it). Thus your $49 million buys you a mention on the plaque next to the painting: "gift of Mr Bigdummy McDummyius".
Here, let the Associated Press try to explain it:
The arts academy that owns Rembrandt's "Conspiracy of the Batavians Under Claudius Civilis" said Tuesday that it is willing to let the work go for $49 million, less than half its estimated value.
The buyer, however, must agree to donate the masterpiece to Stockholm's Nationalmuseum, where it is one of the main attractions, said Olle Granath, permanent secretary of the Royal Swedish Academy of Fine Arts.
"It has hung at the Nationalmuseum since 1866. That's where it's going to stay," Granath told The Associated Press, adding that the cash-strapped academy is selling the painting to raise money for exhibitions and other activities.
The Rembrandt was valued at $120 million, but the academy was ready to offer a 60 percent discount because of the condition to donate it to the waterfront museum.
By the way, over at MR, Tyler has another Yer doin' it Rong edition of markets in everything up, though he neglected to label it as such. His is from the Netherlands.
2 comments:
Could it be that this is related to getting a tax write-off on $120mm for cheap?
Can corporations bid for the plaque? How much are the naming rights for a $100 million painting worth?
What about a lease? Could that be arranged?
I can see it now,
"This Rembrandt brought to you by Coke!"
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