SSAI money (1 Viewer)

[Anthony]

Anyone got any good recommendations for future saving/investment options?
Like what banks are doing the best deals. Looked into a few so far, they all seem pretty much the same but worded and chopped up slightly differently.

 

[classic seanc]

PM niggliebith. He gave me good advice from the "Ask ngliggbbeeht" thread.

 

[broken arm]

http://www.ethicalmoney.org/index.html

 

[Goodbye]

http://www.ethicalmoney.org/index.html

Anyone unethical can just call themselves the Ethical (insert name here)

 

[Anthony]

Says Ethical Ian

 

[RSJ]

?

 

[magicbastarder]

apollo gallery on dawson street are selling paintings with a guarantee to buy them back in five years time for 50% more than you paid for them. that's over twice the SSIA payout.

 

[classic seanc]

apollo gallery on dawson street are selling paintings with a guarantee to buy them back in five years time for 50% more than you paid for them. that's over twice the SSIA payout.

Why?

 

[Squiggle]

apollo gallery on dawson street are selling paintings with a guarantee to buy them back in five years time for 50% more than you paid for them. that's over twice the SSIA payout.

Wow! That is a seriously good deal. You get something great to hang on your wall and you know you'll make a profit if you decide to sell it. Of course... they could be planning to hand out a list of addresses to an 'associate' who would 'liberate' the paintings before the 5 years are up.

But it is more likely that they think that the paintings will increase in value by more than 50% and they will be able to sell them on for even more.

 

[magicbastarder]

i've seen two in the window with that offer. one was 7.9k, one was 10.5k.
the former was fucking awful.

 

[classic seanc]

I'm intrigued by this idea tbh. But it don't say nothing about it on their website...

 

[magicbastarder]

i went looking there too, no sign of the offer, so i checked the window again, and it was still there about three weeks ago.

 

[RSJ]

Sounds like a fiddle - sell off a load of shite paintings for ten grand each promising a return after five years, then once they're all sold, close the gallery and fuck off with the cash. Smart.

 

[magicbastarder]

as far as i know, the gallery has been around for decades.

 

[Wilbert]

Sounds like a fiddle - sell off a load of shite paintings for ten grand each promising a return after five years, then once they're all sold, close the gallery and fuck off with the cash. Smart.

Exactly what I thought!

 

[classic seanc]

Sounds like a fiddle - sell off a load of shite paintings for ten grand each promising a return after five years, then once they're all sold, close the gallery and fuck off with the cash. Smart.

Closer inspection is of course required. But I assume you’d be signing guarantee’s and contracts and whatnot to prevent that from happening.
My thinking would be that either:
They want to get a good bit of cash in the bank, with a view towards investing in some sort of capital expenditure, like a building extension or something.
OR
They have a bunch of shite paintings and are hoping that some of them will appreciate by more than 50% in the next five years, so they can break even on the lot (while taking into consideration the time value of money).

And now that I think of it, 50% over 5 years isn’t actually like winning the lotto. Unless you happen to have that sort of money lying around doing nothing.

 

[RSJ]

Wait, if you invest ten grand, and you get 15 back, and inflation is say 5% a year, your initial investment is actually worth 12762 in five-years-time-money. I'm sure the difference between that and 15 grand minus 5 years inflation isn't all that much. Or have i got it wrong altogether?

 

[magicbastarder]

well, if you want to stick your money in a bank, and get 5% interest rates competing with 5% inflation, it sounds good.

 

[classic seanc]

No, that's pretty much it RSJ.

But you have to consider the risk. In this case, it's low risk (practically no risk), so it's pretty good.
But if, for example, you were a very Competent and confident Poker player, it wouldn’t be such a good deal, as you could make more money playing poker.

 

[magicbastarder]

Wait, if you invest ten grand, and you get 15 back, and inflation is say 5% a year, your initial investment is actually worth 12762 in five-years-time-money. I'm sure the difference between that and 15 grand minus 5 years inflation isn't all that much. Or have i got it wrong altogether?

if inflation and interest rates are 5%, and you bank the money, you have €12,762 in five years time.
if you buy the painting, you have €15,000 in five years time. so you're two and a quarter grand better off.