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Sheik Al-Thani Dead 1 Day Before The Sale of the Supercomplication.

  1. DLT222

    DLT222 Double D @ ΩF Staff Member Nov 10, 2014

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  2. alam

    alam Nov 10, 2014

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    this super complicates the sales of the wacth... dead at 48? is watch collecting hazardous to your health?
     
    cicindela likes this.
  3. DLT222

    DLT222 Double D @ ΩF Staff Member Nov 10, 2014

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    Yes i know - Im pretty sure it cannot go ahead now with the 'estate' to be discussed and if there is no will it will take longer!
     
  4. cicindela

    cicindela Steve @ ΩF Staff Member Nov 10, 2014

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    That's it, I'm putting all mine up for sale, pray for me :unsure:
     
  5. alam

    alam Nov 10, 2014

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    Just make sure we are included in your will. :)
     
    Modest_Proposal likes this.
  6. Taddyangle

    Taddyangle Convicted Invicta Wearer Nov 10, 2014

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  7. LouS

    LouS Mrs Nataf's Other Son Staff Member Nov 10, 2014

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    If you think Sotheby's is passing up its commission on this one, I think you are mistaken!
     
  8. DLT222

    DLT222 Double D @ ΩF Staff Member Nov 10, 2014

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    Im not sure it can be sold though... He is dead and going by what i read earlier the viewing was closed yesterday after news broke.
     
  9. Taddyangle

    Taddyangle Convicted Invicta Wearer Nov 10, 2014

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  10. LouS

    LouS Mrs Nataf's Other Son Staff Member Nov 10, 2014

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    It's already consigned to the auction house well ahead of the auction date, no?
     
  11. cicindela

    cicindela Steve @ ΩF Staff Member Nov 10, 2014

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    Hope I can get my bid bond returned without too much difficulty. :unsure:
     
  12. gatorcpa

    gatorcpa ΩF InvestiGator Staff Member Nov 10, 2014

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    They may not have a choice. The Sheik's US estate (and I certainly don't know if this watch is included or not), would need to be admitted to probate pending a will and documentation of asset ownership. That alone should delay the sale.

    It's the same reason why banks have to seal safe deposit boxes after a depositor's death. They need to determine the rightful owner of the contents before just anyone can clean it out.
    gatorcpa
     
  13. LouS

    LouS Mrs Nataf's Other Son Staff Member Nov 10, 2014

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    I understand the principle of the thing, but legally does it matter whether the estate has the watch or the cash from its sale?
     
  14. DLT222

    DLT222 Double D @ ΩF Staff Member Nov 10, 2014

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    Yes i would think especially if an item of high value - which this is extremely high value. Effectively it is his next of kins property now (if there was one) if there was a will there will be a beneficiary and if no will it will go to probate. His entire UK estate and subsequent others will also have to be assed unless a will states who he leaves 'everything' to.

    Ive just gone through something very similar.
     
  15. LouS

    LouS Mrs Nataf's Other Son Staff Member Nov 10, 2014

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    Lots of kin when it comes to the Al Thani family.
     
  16. DLT222

    DLT222 Double D @ ΩF Staff Member Nov 10, 2014

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    Exactly!!! There is his car collection too - My friend sourced a few for him.
     
  17. Spacefruit

    Spacefruit Prolific Speedmaster Hoarder Nov 10, 2014

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    And dont forget inheritance tax.
    If the item is in UK, or any other IHT jurisdiction, they will have a go for it.
     
  18. DLT222

    DLT222 Double D @ ΩF Staff Member Nov 10, 2014

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    True i forgot about CGT!
     
  19. Spacefruit

    Spacefruit Prolific Speedmaster Hoarder Nov 10, 2014

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    CGT is different. Watches, like vintage cars, or even paintings are exempt unless you trade them.

    I expect this individual is trading, but through a corporate entity.

    All I can see here is that several lawyers are going to get very fat
     
  20. ulackfocus

    ulackfocus Nov 10, 2014

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    You better not offer that pink gold capped cross hair caliber 551 pie pan to anybody before me! Come to think of it, there's a Seamaster and bull's eye dial that I'd like to get my mitts on.