I am going to write out an interim plan for the next 6 months on the logistically part of it. After that, we would have to go into our first annual general meeting for all shareholders and proposed what plans to go ahead with over the next 12 months. So for interim measure, this is what is going to happen.
1. The ownership of the card is going to reside in that of a company or a trust whichever would provide a more reliable protection over the asset and tax effective of distributing any income and capital gains. The owners of this company will be the contributors to this set ie every $1 invested will give you 1 share so you have invested $1000 and the total investment amount is $25000, you owned 1/25 or 4% of this company. Your votes will correspond according to your shareholdings.
2. For the next 6 months, I will at no cost to anybody else managed this card portfolio until the first annual general meeting is held. In the first AGM, a administrator/s or manager/s can be formally nominated and appointed then. It does not neccessarily have to be one person, it can be a group of person that can serve in the best interest of the shareholders.
3. The cards on the interim will be stored in a fine arts investment vault of which it requires authorisation of 2 members other than myself to have it opened. Such a vault would provide more than enough asset security and conditions in such vaults are ideal for collections.
4. There will be insurance bought for this item in the event of thieft, fire or other major accidents.
5. I strongly believe that this project will be revenue neutral, the possible income will come from the apperance of the set in major card stores, hobby stores and collectors store. All income from here will be used to offset the insurance cost and storage cost of the set.
6. All long term goals of the set will be finalised at the first AGM which includes setting target for selling price or maintaining it to generate a sustainable income. I strongly believe the long term returns on this is about 12% PA minimum over the next 5 years.
7. In the event, if there is a shortage of funds over the first 6 months, I will willing to be out-of-pocket during this time and am happy to be re-imbursed at a later date when the company does take off.
I do not want to set any long term plans yet as it is not my company alone, it belongs to everyone else who has a share and passion in this. Cheers Alex
---------- Post added 30-09-2011 at 10:21 AM ----------
I love your enthusiasm...it is to be admired!! But you need to harness this energy and put it into something achievable...possibly consider some volunteer work!!
Anyway this is a great set......has anyone worked out how many of these players have passed away in the past 25 years?
You are absolutely spot on, some of these players have moved on with life and their auto is no longer available. This set will always be remembered by collectors of our generation. Many people don't realise how significant this set is in the hooby world.
On a side note, would you like to put in anything? Cheers Alex
---------- Post added 30-09-2011 at 10:23 AM ----------
I'm all for the vision! Let's write out a plan, cover the basics (i.e. Housing, preserving, and definitely the requirements to eventually sell. 51%vote?) then we can talk money.
Read above. Thanks