The Gentleman’s Competition That Lead To The Most Expensive Watch Ever!

patek philippe

In 2017 when an unnamed collector laid down $ 17.8 million at auction for a Rolex Cosmograph Daytona that once belonged to Paul Newman it was a record for the most expensive wristwatch ever. However how about the most expensive watch ever? That honor goes to a pocket watch – the completely unique Patek Philippe Supercomplication.  The final price, bid at auction by an anonymous entity in 2014, was over $24,000,000 in US Dollars.

So, what was it about this Patek Philippe Supercomplication that encouraged a bidding war among the world’s most elite timepiece collectors? To really understand it you must go back almost a century ago to the roaring 1920’s.

In the mid 1920’s, a New York-based banker, Mr. Henry Graves Jr. commissioned Patek Philippe to produce “the world’s most complicated timepiece” – no matter the cost. According to the book “A Grand Complication: The Race To Build The World’s Most Legendary Watch” by Stacy Perman, Graves was engaged in a gentleman’s competition with fellow American, automobile manufacturer James Ward Packard, to keep outdoing each other as they got Patek Philippe to produce ever more complex watches. They were both determined to show the other “what a real watch was”.

In 1927 Packard commissioned a complicated watch but, not to be outdone, Graves surpassed his rival to become the owner of the most complicated watch ever made. It was called Patek Philippe Henry Graves Supercomplication. Designed and built by Patek Philippe, it was an ultra-complicated (24 functions) pocket watch. The Supercomplication watch was delivered to Mr. Graves in 1933. Patek Philippe might have bested its own work if James Ward Packard had his way. Unfortunately, Packard died a few years earlier, before the Supercomplication watch was even handed over to Mr. Graves.

 

The Supercomplication took three years to design, another five to manufacture. The most advanced techniques in horological engineering produced a truly one-of-a-kind timepiece; only one watch was ever built. Complications included a perpetual calendar with phases and age of the moon, indication of sunrise and sunset, and a celestial chart depicting the stars in the nighttime sky over New York City. Graves died in 1953. His heirs sold the watch in 1968 to The Time Museum in Rockford, Illinois.  It was later sold at Sotheby’s for a record breaking $11,002,500 to an anonymous bidder in New York City on December 2, 1999

Henry Graves Jr. paid Patek Philippe $15,000 for the Supercomplication in 1925. Adjusting for inflation that is roughly $215,000 in 2018 dollar values. The price of a mere entry-level Ferrari today. It would not be uncommon for a watch of such complication as the Supercomplication to retail new for over $1,000,000 today.

Patek Philippe tends to command an impressive auction reputation because its most significant vintage watches are prized by collectors. However they are not the only timepieces to command high auction prices.  Audemars Piquet, Rolex, Piaget, Girard-Perregaux, Vacheron Constantin, Breitling, Breguet. and Lange & Sohne all produce certain limited-edition or very limited-production timepieces. However none achieve the stratospheric price of Mr Graves 1933 Supercomplication.

If you or someone you know would like to share or are interested in receiving more of our little known but true stories about luxury collectables please email us at info@eliassoncapital .com or like us on Facebook.  Eliasson Capital provides collateral loans on fine art and collectables.

You Had a Great Year….And Now The Tax Bill To Prove It!

tax

You had a great year! But paying taxes is one of the consequences of making money. A large tax bill can be a true measure of success, however it can also be very difficult to plan for. With April 15th just around the corner, Eliasson Capital can help.

You are successful, intelligent and diligent, so you know you have options. Your best option is Eliasson Capital. We are discreet, easy to do business with and quick. Unlike a traditional bank loan, Eliasson does not require an extensive, invasive application process. You can have the money to pay your tax bill in as little as 24 hours. And, because of our low rates, you can borrow $25,000 for as little as $500 per month.

Your success deserves to be rewarded! Let Eliasson keep you on a successful path so you do not have to divert your resources from your pleasures just to pay Uncle Sam. Plan your vacation, join the country club, rent the summer house…you earned it! We’re just here to help.

FRONT LOADING YOUR RETIREMENT PLAN CONTRIBUTION

For most professionals, like physicians or dentists who fund their retirement through a 401(k), profit sharing or defined benefit plan, the earlier in the year you contribute to your retirement the greater chance you have to benefit from additional months of compounded tax-deferred growth.

It’s a question of lump sum investing versus dollar cost averaging and in most years, lump sum investing wins. Under ideal circumstances, lump sum investing works well if you can buy into the market at the point of the year when stocks are the cheapest. The problem is that we can’t know when that’s going to be. The market goes up in the long term, so in theory at least, the earlier you get into the market the better. And of course, you want to take advantage of both tax deferral and of compounding of investment returns as early in the calendar year as possible.

glossary-e1408122790838
Historically, the stock market performs best during the 6-month stretch from November to April. If you dollar cost average the majority of your contributions are missing out on what are typically the best months of the year. Contributing as early in the year as possible better positions your portfolio to capture these market gains.

Investors who can’t come up with the cash to front-load their contribution might consider a loan from Eliasson Capital. Using the proceeds of a loan to front-load your yearly contribution and then paying the loan off over the course of the year will allow investors to participate in market returns early and still receive the full tax deferral advantages of investing in a qualified retirement account.

Collateral Loans for Dentists

Dental heath assistant and patient.

There are many reasons a dental practices needs working capital fast, whether its emergency cash to meet payroll, a patient delays payment, unexpected equipment breakdowns, a special opportunity that requires cash down or a bridge loan until a long-term bank loan closes.

A growing means of raising working capital quickly, personal asset loans are helping dentists get the short-term loans they need to make their practice successful.

These new alternative financial products can be obtained from online lenders who will allow you to use your personal luxury assets as collateral for loans. They are proving to be quite popular among dentists looking to take advantage of special offers and unexpected opportunities to grow their dental practice.

Luxury Assets for Personal Asset Loans

The items must have high value and must be stored in our secure storage location.

  • Gold and diamond jewelry
  • Luxury watches such as Rolex, Breitling, Piaget
  • Classic and high end luxury vehicles (NOTE: We must take possession of the collections.)
  • Fine Art

Bad Items for Personal Asset Loans

  • Real Estate: It’s not allowed by law to use real estate as collateral for a Personal Asset Loan
  • Computers and electronics: Their value declines very quickly due to technical obsolescence

 

Advantages to Personal Asset Loans

  • Speed: The whole transaction can take place in as little as 24 hours
  • Does not Affect your credit-No credit checks or lengthy loan applications
  • No personal guarantee: Your asset fully supports the loan as collateral

Is Your Art Worth Something?: A Quick Guide

fineartappraisal

Appraising is an art, not a science, and market trends can quickly cause fluctuations in prices. While most people hire an appraisal expert in order to arrive at a dollar value, it’s possible to figure out if your art is valuable or not.

Is it a One of A Kind?

Original art is worth more than prints or lithographs.

Many prints can seem original but here are a few tricks to tell the difference:

  • Look for brush strokes. Real paintings will have real brushstrokes. The brushstrokes will vary in size and texture.
  • Hold the painting up to the light and look at it from the BACK. You should be able to see variations in the light coming through the back of the canvas. This is because artists use varying degrees of heaviness of paint in certain areas. A lithograph on canvas will not have these variations.
  • A real painting will almost always be signed by the artist in the lower right hand corner. The artist’s signature should have a dimension to it if it is signed with real paint.

Is the Artist Well Known?

Artists generally fall into three categories of renown: well-known, up-and-coming, and unknown. Artists who are well-known and have a rich history of collection can almost always command more value more than artists who are unknown.

Does the Painting Itself Have History?

Find out if the piece of art has ever been owned by someone renowned. Barring the artist themselves, works of art that were formerly owned by someone famous or well-known can command much higher prices than those pieces who don’t.

Condition

An item that is ripped, water-damaged, discolored, or otherwise damaged can return significantly less than an item that is in perfect shape. Note that an item that isn’t technically damaged but isn’t as vibrant as it was when first completed will qualify as having a “condition issue.”

If you think your art may be worth something you should contact a certified art appraiser to help you put an exact value on your art. The fine art market is very volatile so don’t trust that a painting worth a certain amount in 1990 will hold the same value as today.

 

Asset Based Loans During Tax Season

Tax calculator pen and glasses

Tax season is here so what are you supposed to do if you find yourself with a hefty tax bill? Liquidity is important for both businesses and individual and for those who have their wealth tied up there are options that are less expensive and more private than a loan.

 

For individuals personal Asset Lending allows you to use assets like cars, equipment, and jewelry to get working capital for your business. Loans against art and other valuables can also be used as collateral.

You can unlock the hidden potential of items such as

  • High End Sports Cars
  • Luxury Watches
  • Fine Art
  • Fine Jewelry

Qualifying for a collateral based financing program is easier than qualifying for a bank loan or line of credit. If you have an asset or object of value you can borrow against it. It’s that simple.

All transactions are private, secure and will not affect your credit.

Your valuables are kept in a climate controlled location in a secure facility that utilizes some of the most advanced security technology available. Once the loan is paid off your assets will be returned to you. Most small businesses do not have extra assets or equipment just laying around. In cases like that a merchant cash advance can be a beneficial and flexible option to obtain working capital needed to grow.

 

For businesses, a merchant cash advance, more commonly referred to as an MCA can help you come up with money for the tax man quickly. An MCA is simply a purchase of future credit card sales.

More flexible than a bank loan,  an MCA is based on percentages of sales allowing leeway during a time when sales are low.

Merchant Cash Advances are also easier to come by than a bank loan. The application process is much shorter and a business can have their money in as little as twenty four hours.

 

Collateral Loans After the Holidays

asset based lenders are better option for working capital

After a whirlwind of spending during the holidays and a few weeks before your tax returns come in, your bank account may be hurting a bit for cash in the beginning weeks of the new year. So what happens when the deal of a lifetime comes up, or conversely what happens when disaster strikes and the boiler decides to break down?

Finding the working capital you need in a crunch doesn’t have to be a scramble to the bank. Collateral based loans are a quick and cost effective way to get cash without having to affect your credit.

A collateral loan allows you to use assets like cars, equipment, and jewelry to get working capital in as little as 24 hours. Loans against art and other valuables can also be used as collateral.

Eliasson Capital makes it possible for individuals to leverage luxury items like cars, fine art, jewelry and designer watches as collateral for a low interest loan in a fraction of the time it takes to process a formal bank loan, with absolute privacy.

Your collateral is kept in their state of the art, secure storage facility while the loan is being settled.

Asset based lending is becoming a more popular option than typical bank loans. If you are interested in a collateral loan through Eliasson Capital call us at (516) 282-7900.

 

How Much is Your Jewelry Worth?

 

vintagemainimage

There are many times when we come across old jewelry, whether it is inherited from grandma or just a cool find at a yard sale. Not all antique jewelry is treated the same. While some costume jewelry pieces may be worth as much, if not more than some of their fine jewelry counter parts, fine jewelry retains the value of the metal and stones they are made of. So how does one determine if a piece of jewelry is worth a small fortune or should go into the junk drawer? Here is a handy guide for yourself.

 

Look for hallmarks

One of the first things you can do when you find acquire a new piece of jewelry is to look for hallmarks. One hallmark will generally tell us the metal content of a piece, and the other (if there is another) will tell us either the country of origin, designer or manufacturer. There are so many different hallmarks, but the fact that your jewelry has a hallmark at all is usually a good sign. These markings are usually located on the clasp of a necklace, the inside of a ring or bracelet, or the post of an earring. Unless the item is over 100 years old or the hallmark has worn off, all fine jewelry should have some type of hallmark.

Some Hallmarks to Look Out For

Common gold hallmarks

  • 18K
  • 14K
  • 10K
  • 750
  • 585
  • 375

Common platinum hallmarks

  • 950
  • PLATINUM
  • PLAT

Common silver hallmarks

  •  925
  • Silver
  • 800
  • Sterling

Some valuable fine jewelry hallmarks include: Tiffany & Co, Cartier, Tacori. Any of these hallmarks should be appraised for authenticity. Common costume jewelry hallmarks include: Sarah Coventry, AVON, & Trifari. These hallmarks indicate your jewelry is a piece of costume jewelry and is not very valuable. If your item looks antique and it doesn’t have a hallmark, get the item appraised. If your item looks new but does not have any hallmarks at all, your item is likely just costume jewelry.

 

Check the items weight

When determining the value of chains, the longer and heavier your gold or platinum jewelry is, generally the more valuable it is.  This goes double for chains and bangles. Gold and silver are heavier metals than their fake counterparts like brass and pewter. If you find a thicker gold chain that feels much lighter than a similar gold chain you have, the chain is likely fake or hollow gold. Fake chains feel fake. Solid gold jewelry is very smooth, heavy, and consistent throughout so if you have a gold colored chain that has a darker color or even a silvery color showing through on parts that see heavy wear, this is likely a gold plated chain and not very valuable. When solid gold or platinum jewelry wears down, the part showing through should still be the same color.

 

Step 3: Inspect the prongs

Some higher quality costume jewelry uses prongs just like in fine jewelry, but a lot of the stones are glued into place. If you have a cameo brooch that looks like it is glued into the setting with no prongs holding it in, this is likely costume jewelry and not valuable. Fine jewelry will be very finely crafted with each stone set in an intricate bezel or prong setting, with pearls being one of the only exceptions.

Don’t be so quick to throw away costume jewelry however, some vintage costume jewelry that has a lot of brilliant stones all set with prongs can be very valuable. These pieces can sometimes be as valuable as pieces of fine jewelry. It is important to be sure the piece is vintage, in good shape, and has a lot of brightly colored clean stones all set with prongs.

If you have fine jewelry lying around in a drawer or jewelry box, you can unlock its value and get the cash you can use for your next ski trip or on an amazing Christmas your kids will talk about for years to come. Call Eliasson Capital at 1 (516) 282-7900 for an appraisal today.

Your patients are expecting more, but how are you going to fund it?

dentist-bluffton-min

Going to the dentist used to be a strictly medical procedure. Whether it be for preventative maintenance, or to address a cavity, tooth damage, or the need for root canal, most dentists offered the same array of services. Now, though, the dental industry is growing and evolving at an extremely rapid pace, and so are the demands of the patients.

Dental patients have come to expect a more spa-like environment in their chosen dental office. They want more esthetic services, and a more modern look and feel for the experience. Even dental marketing has become more demanding, as a web savvy audience comes to expect slick advertising for every service, including dentistry.

According to the National Health Expenditures (http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/Downloads/Proj2011PDF.pdf) report released in 2012, dental spending by consumers is projected to increase at an average annual rate of 5% through 2021. In addition, a Dental Economics survey released in November 2012 indicates that patient volumes are finally reaching their prerecession numbers. In order to capture this market share, stay ahead of customer demand, and remain competitive in their neighborhoods, dental offices must invest in certain upgrades, inventory, new equipment, digital technology, or marketing campaigns.

But how is a high volume, but often cash-poor industry to pay for all of these upgrades and improvements?

According to DentistryIQ.com, “One of the best alternative finance options for dental offices is in the form of an unsecured loan or merchant cash advance (MCA). This type of financing offers businesses a lump sum payment in exchange for a share of future credit card sales. An MCA is a quick and flexible financing option that can provide solid businesses with necessary capital in a matter of days, not months like traditional lenders. Also, while banks require approximately five years in business, most MCAs will provide financing to businesses in operation for just one year.”

Eliasson Capital has a specific MCA program created specifically for dentists.

Eliasson Capital’s Merchant Cash Advances for Dentists program provides you with the cash you need immediately and the flexibility choose how you pay back the loan.

You may choose to extend your payments over time, for more liquidity, or pay the advance back early, to save on interest. The choice is yours, and their experience in the Dental industry means they know your business almost as well as you do.

When you’re ready to take your practice to the next level, rather than going through the traditional long processing times and high interest, consider utilizing an Eliasson Capital Merchant Cash Advance, and start attracting more customers today!

Using Personal Asset Loans for Your Small Business.

 

asset based lenders are better option for working capital

There are many reasons a small business needs working capital fast, whether its emergency cash to meet payroll, a customer delays payment, unexpected equipment breakdowns, an advantage or special opportunity that requires cash down or a bridge loan until a long-term bank loan closes.

A growing means of raising working capital quickly, personal asset loans are helping small businesses get the short-term loans they need to make their businesses successful.

These new alternative financial products can be obtained from online lenders who will allow you to use your personal luxury assets as collateral for loans. They are proving to be quite popular among nimble entrepreneurs looking to take advantage of special offers and unexpected opportunities to grow their businesses.

Luxury Assets for Personal Asset Loans

The items must have high value and must be stored in our secure storage location.

  • Gold and diamond jewelry
  • Luxury watches such as Rolex, Breitling, Piaget
  • Classic and high end luxury vehicles (NOTE: We must take possession of the collections.)
  • Fine Art

 

Bad Items for Personal Asset Loans

  • Real Estate: It’s not allowed by law to use real estate as collateral for a Personal Asset Loan
  • Cars and Trucks: We must take possession of the motor vehicles so you will not be able to use them while we have them in storage
  • Computers and electronics: Their value declines very quickly due to technical obsolescence

 

Advantages to Personal Asset Loans

  • Speed: The whole transaction can take place in as little as 24 hours
  • Does not Affect your credit-No credit checks or lengthy loan applications
  • No personal guarantee: Your asset fully supports the loan as collateral