A New York art dealer named Andy Ward was working with a man named Andy Gatsbys estate in the early 1980s.
They had just purchased the Gatssons’ old mansion in the Bronx, and Ward had a feeling that he could sell it for a substantial sum.
“I think I can put it on the market for $1.5 million, which is the highest I’ve ever paid in a sale,” he recalls Gatsbetts estate agents telling him.
The auctioneer went ahead and bid $1,050,000.
“And he went to a second auction in New York, and he said, ‘We have the biggest sale ever,'” says Ward.
“The next day, Gats told him, ‘You have to sell this, because if you don’t, it will be worth nothing.'”
So, Gates went back to his agents and asked for a raise.
He offered the estate $3.5 billion, and that’s when the real estate titan realized his dream.
A decade later, the property has been valued at $21 billion.
As Gats is the one to buy this property, we have a lot to say about the process of buying an art house.
It can be a tricky process.
It’s important to keep in mind that it’s the buyer, not the seller, who is in charge of the property.
So, in the end, the buyer gets to own it.
This is why Gats buys a property that has a lot of history in the owner’s family.
But, Gatz also needs to be able to sell the property to get a significant profit, which can be difficult.
The buyer’s responsibility to maintain the property for as long as possible, and the seller’s responsibility for its upkeep.
For this reason, a lot is known about the art of buying and selling art.
But for this article, we’re focusing on the basics of the art and the processes of buying, selling, and owning.
If you want to learn more about the buyer and seller process in New Orleans, click here.