11.8 Million Dollars

[Bassn Blvd]

Not that anyone cares, I know I don't, but 11.8 million U.S. DOLLARS is how much someone paid for the late Elizabeth Taylor's necklace . The necklace appraised for 3 million .

[Grey Wolf]

A fool and his money are soon parted. Definately someone with more money than brains.

[Sfritr]

And people wonder why the country is going bankrupt........

[-HAWK-]

Now just imagine what he could have bought, if he had an interest in Bass fishing and not collecting jewelery.

[Root beer]

Not that anyone cares, I know I don't, but 11.8 million U.S. DOLLARS is how much someone paid for the late Elizabeth Taylor's necklace . The necklace appraised for 3 million .

I believe the buyer will allocate the excess of fair value to goodwill. (accounting final overload...)

[K_Mac]

People pay crazy amounts of money for all sorts of things. 11.5 million is insane for a piece of jewelry to those of us who have live on a budget, but the current bid on KVD's cookie is $152.50. Now I love KVD, and knowing he will give the money away makes that a little easier to justify, yet it is still excess that will offend some. Some folks feel spending thousands of dollars on fishing related stuff is ridiculous. How Taylor's necklace is worth that kind of money is beyond me. There were a bunch of folks bidding on it though, so it must have worth to them...

[scrutch]

I believe the KVD cookie money is being donated to charity by Glenn.

Another thought...

11.8 mil minus 3 mil equals 8.8 mil. How many orphanages could you support for one full year for $8.8 million?

[SirSnookalot]

K_Mac for prez......He gets what's going on.

The difference between insanity and eccentricity is the size of ones wallet. The appraised value means little, it's a collector's item and as such has no limit on what price it will fetch.

I have no idea who bid, but I think it's safe to assume the bidder will not go into bankruptcy over this purchase. Taking in to account our tax code, it's not unreasonable to think that the bidder has made hefty benevolent contributions, tax deductible of course.

I guess Sfitr has a point, our national treasure is is affected.

[K_Mac]

Scrutch, I agree that 11.8 million is an obscene amount of money to spend on a trinket. It seems especially offensive when it is nearly four times the assessed value. The assessed value has little to do with the real value of this thing though. Whether it was purchased by a crazed Taylor worshiper with way too much money or a rich collector looking to make a nice profit, the price was set by the market.

Sure, I think you could make the case that spending that kind of money was objectively insane, and that money could be better spent on providing for needy people. What we don't know is how much the buyer is already doing in that regard. Maybe he/she is already giving millions away. My point is, it is easy to look at excess that is beyond our budget and make judgments. Some would say a $400,000 home in the suburbs or a $70,000 bass boat is an offensive waste of money. What if that person is giving a significant portion of their time and income to church and charities, while working long hours to be a contributing member of society and live the American dream?

Edit: I am going to have to spend less time on my posts! Snook bite your tongue. That is a job no sane man would want IMHO.

[SirSnookalot]

Edit: I am going to have to spend less time on my posts! Snook bite your tongue. That is a job no sane man would want IMHO.

"In an insane society, the sane man must appear insane." ...........Spock, Star Trek

"To be sane in an insane world is total insanity"..........SirSnook, Bass Resource

[tyrius.]

When you think of all the families in the US that are struggling financially, you would think that helping out our brothers and sisters would bring more joy than paying to much for a piece of Jewelry.

The money could have helped children with diseases or college tuition, veterans, or the elderly.

Very sad to think about.

The same good be said for fishermen who spend obscene amounts of money on glass boats, loomis rods, jdm tackle etc. Where do you draw the line?

BTW the total US population is over 312 million people. 12 million for a piece of jewelery is nothing in the grand scheme of things.

[tyrius.]

Not that anyone cares, I know I don't, but 11.8 million U.S. DOLLARS is how much someone paid for the late Elizabeth Taylor's necklace . The necklace appraised for 3 million .

An appraisal for one of a kind items is nothing more than a guess as to what a group of rich people will pay. They're wildly inaccurate.

[SirSnookalot]

The same good be said for fishermen who spend obscene amounts of money on glass boats, loomis rods, jdm tackle etc. Where do you draw the line?

BTW the total US population is over 312 million people. 12 million for a piece of jewelery is nothing in the grand scheme of things.

Really no different than buying a Bentley or some exotic car, when a Chevy can get you there in the same comfort. I can see how some feel, it was reported on TV yesterday that 146 million people in the U.S. live at or below the poverty line.

But if one can afford it, I see no reason to question it.

[Fishing Rhino]

Money, it's all relative. The individual paid four times the appraised value. So what?

I am bemused when some decry others' frivilous spending with the argument that it could have helped others. Ooops, it could have helped others here in the U.S. of A. What about the poor and needy in the rest of the world? Do boundaries really matter when it comes to need? What boundaries? City/town, state, country, contintent?

That eight million didn't vanish into thin air. It merely changed hands. Who knows what that "profit" will be used for?

It's oh too, too easy to be compassionate and charitable with other people's money. I must confess that complaining about what others do with their legitimately earned resources is irritating to me, and I am by no means wealthy in dollars and cents, though I consider myself to be very wealthy because I have my health, and enjoy my life with wife, family and friends.

It is also true as some have stated that the same criticism could be leveled at several on here who have fancy boats, very expensive fishing gear and very nice rides. They certainly could have done with the basics, no frills and have donated the savings to charity.

I was fortunate that my parents taught me not to look down at those with less nor to be jealous of those with more.

I seem to recall a story about an event that took place a couple of millenia ago. It involved an evil man, a caring woman, and another man.

The woman was washing the third man's feet, wiping them with her hair. Then she annointed his feet with a very precious, expensive oil. The evil man complained that using the oil like that was a waste of money. It could have been sold and the proceeds given to the poor. The man who was eventually betrayed by the evil man chastised the evil man for his statement about the oil and the poor, and commended the woman for her demonstration of devotion.

Things are not always what they seem.

[scrutch]

Money, it's all relative. The individual paid four times the appraised value. So what?

I am bemused when some decry others' frivilous spending with the argument that it could have helped others. Ooops, it could have helped others here in the U.S. of A. What about the poor and needy in the rest of the world? Do boundaries really matter when it comes to need? What boundaries? City/town, state, country, contintent?

That eight million didn't vanish into thin air. It merely changed hands. Who knows what that "profit" will be used for?

It's oh too, too easy to be compassionate and charitable with other people's money. I must confess that complaining about what others do with their legitimately earned resources is irritating to me, and I am by no means wealthy in dollars and cents, though I consider myself to be very wealthy because I have my health, and enjoy my life with wife, family and friends.

It is also true as some have stated that the same criticism could be leveled at several on here who have fancy boats, very expensive fishing gear and very nice rides. They certainly could have done with the basics, no frills and have donated the savings to charity.

I was fortunate that my parents taught me not to look down at those with less nor to be jealous of those with more.

I seem to recall a story about an event that took place a couple of millenia ago. It involved an evil man, a caring woman, and another man.

The woman was washing the third man's feet, wiping them with her hair. Then she annointed his feet with a very precious, expensive oil. The evil man complained that using the oil like that was a waste of money. It could have been sold and the proceeds given to the poor. The man who was eventually betrayed by the evil man chastised the evil man for his statement about the oil and the poor, and commended the woman for her demonstration of devotion.

Things are not always what they seem.

Very interesting perspective Tom. Thanks for that. There's a good lesson in there for me. There's only one Judge, and I'm not Him.

[Mrs. Matstone]

A fool and his money are soon parted. Definately someone with more money than brains.

Couldn't agree more.

[Tokyo Tony]

The person is probably worth 100's of millions if not more. Most likely that person is very smart to have amassed such a fortune, and most likely has donated a LOT and done a lot of good, directly or indirectly.

Not our business how he/she spends the money. I think most people who criticize this person are just jealous that he/she has $11.8M+ of disposable income.

That said, $11.8M for a necklace is ridiculous

[Steven Ladner]

The person is probably worth 100's of millions if not more. Most likely that person is very smart to have amassed such a fortune, and most likely has donated a LOT and done a lot of good, directly or indirectly.

Not our business how he/she spends the money. I think most people who criticize this person are just jealous that he/she has $11.8M+ of disposable income.

That said, $11.8M for a necklace is ridiculous

You sir have nailed it. Could not have been said any better.

[J Francho]

That said, $11.8M for a necklace is ridiculous

I wear it around the house when I'm doing my chores.

[deaknh03]

I wear it around the house when I'm doing my chores.

If you could afford that, "chores" would not be a word in your vocabulary.

[flippin and pitchin]

When I saw the Title, I thought it was about NBA player's salaries. Silly me.