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Rare guitars to meet Wall Street in 2009
Submitted by GSite_Editor on Wed, 08/20/2008 - 11:43.
Something a little different: Bloomberg writes that the first art investment fund devoted to guitars is set to start in 2009.
If you're like me and have no idea what an art investment fund is, Bloomberg says it's when a pool of works is bought and sold for a set fee, for a share of any profit made.
Put simply: The guys behind 'The Guitar Fund', Anchorage Capital Partners, will invest in rare and vintage guitars.
According to ACP's PR, the Fund 'has structured a lending strategy that will allow investors to borrow the guitars so they will continue to be played and enjoyed. The Fund will also lend guitars out to well-known musicians for tours, TV and movie spots adding value to the investment as it obtains memorabilia status.'
Elliott Randall and Robbin Thompson are two of the musicians on the Fund's expert advisory board.
You can read more about it on Bloomberg.
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