Ansel Adams' Lost Negatives
And now the plates are valued at around $200 million dollars? Amazing! Especially when you consider that the man who purchased the plates bargained down to the $45 price from its listed amount of $70. Haha!
Has anyone ever heard of something this crazy before?—Someone who made $200 million dollars from a $45 investment.?
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M$3 Answers
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M$
http://web.mac.com/rcpotter/George_Reeves_Forever/Comic_Books.html
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M$I did research this and was thinking about Dr. Michael Burry, a medical doctor turned bond trader who has Asperger's Syndrome, who became interested in how to short the housing bubble. His story was told by Michael Lewis in his book: "The Big Short: Inside the Doomsday Machine." Then, while reading the wikipedia entry on this book I ran across this line:
"John Paulson, founder and president of Paulson & Co., a New York-based hedge fund that made $15 billion dollars in one CDS trade"
This story is told in another book by Gregory Zuckerman "The Greatest Trade Ever."
However, I don't think the initial investment for this trade was just $45. But still pretty incredible.
duenhsiyen
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M$
It may turn out the negatives are not by Ansel Adams after all! There is now an ongoing lawsuit:
-quote-
The Ansel Adams Publishing Rights Trust claims the work in the photographs is not that of the iconic Ansel Adams, but possibly Fresno photographer Earl Brooks.
The 28-page suit said that the man who bought the negatives, Rick Norsigian, is violating the trust's trademark and "damaging Ansel's reputation and the integrity of his work," said William Turnage, managing trustee of the Ansel Adams Publishing Rights Trust. "They are using Ansel's name illegally, so even if they were Ansel's photographs, they aren't allowed to do it."
-end of quote-
Sources:
http://www.mcclatchydc.com/2010/08/24/99616/ansel-adams-trust-sues-collector.html
http://www.theepochtimes.com/n2/content/view/41505/
