Man utilizes collection as economic ‘hedge fund’
Monday, May 11, 2009 : PermalinkTimes Online – While many lose sleep over each twist and turn of today’s economy, New Jersey collector Ralph DeLuca has found a hedge against the recession in the musty memorabilia of Hollywood’s past.
A former private investment consultant, DeLuca hardly batted an eye when he bought a vintage poster from the 1932 cult movie "Freaks" at auction in March for more than $100,000. The poster had cost $10 in the early 1970s.A few minutes later he outbid competitors for a rare poster of the original "Dracula" from 1931, owned by actor Nicolas Cage, snapping it up for more than $300,000.
Tags: 1970s, actor nicolas cage, auction, cult movie, deluca, dracula, economy, few minutes, freaks, hollywood, investment consultant, memorabilia, nicolas cage, private investment, rare poster, recession, sleep, twist and turn, vintage poster
trackback from your site.