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Headlines and Highlights: Week of February 16th

Headlines and Highlights: Week of February 16th
February 16, 2024
Keenan Flack

Financial Learning Platform Stockpile Acquires Investables


Stockpile, a financial learning platform aimed at young investors and their parents, has recently expanded its offerings by acquiring the talent, technology, and intellectual property of Investables, an alternative investing platform focused on high-end collectibles. The move is seen as a step towards broadening the investment options available to Stockpile’s audience, catering to the growing interest in tangible investments like collectibles among younger investors.

The acquisition brings several of Investables' key executives to Stockpile, indicating a potential enhancement of the platform's capabilities in alternative investment offerings. This strategic decision aligns with Stockpile's mission to make investing more accessible and engaging for children and families by including familiar and tangible assets such as sneakers, comic books, and autographed sports memorabilia in their investment portfolio.

In addition to the acquisition, Stockpile has announced the initial funding of the Stockpile Foundation, aimed at promoting financial independence in underserved communities, and the expansion of its executive team with seasoned professionals in fintech. These developments underscore Stockpile's commitment to its mission of revolutionizing financial education for the next generation, further bolstering its offerings and capabilities to provide a comprehensive and inclusive investing platform for young investors and their families. BUSINESSWIRE

Art Insurer Cautions Museums Against the Threat of Selfies

Art museums are increasingly facing an increasingly prominent challenge: damage caused by visitors taking selfies. According to a report by specialist insurer Hiscox, there's a growing trend of individuals accidentally harming artworks as they back into them while trying to take selfies. This phenomenon, termed “a pandemic of selfies” by Hiscox's head of art and private clients, Robert Read, has led to significant financial losses and damage to irreplaceable pieces, highlighting the risks associated with modern visitor behavior in art spaces.

The insurer notes that half of its art underwriting business is now attributed to accidental damage, with a substantial portion caused by selfie-taking visitors. This situation forces art curators to navigate the delicate balance between embracing modern technology and preserving artworks for future generations. Incidents like the ‘Selfie Domino’ at the 14th Factory in Los Angeles, where a selfie-taker knocked over several pieces of an installation causing $200,000 in damages, underscore severe financial implications of such accidents.

In response to these risks, many art venues worldwide, including Brisbane’s Gallery of Modern Art and the British Museum, have banned selfie sticks to mitigate potential damage. Additionally, concerns over activist vandalism have prompted discussions on implementing more stringent security measures, akin to airport-style screenings. This heightened security is aimed not only at protecting the artworks from accidental damage by visitors but also safeguarding against deliberate acts of vandalism, as illustrated by the attack on Van Gogh’s Sunflowers at the National Gallery in London. ARTNET

Collectible Happenings

INDYCAR has announced a new three-year trading card deal with Parkside Cards, set to launch March 2024, offering fans the opportunity to purchase cards at races, retail stores, and online, along with special race weekend promotions like contests and giveaways. The collection will feature a base set of 162 cards, including autographed cards, relic cards with pieces from the Indianapolis Motor Speedway, and various insert sets, available in hobby boxes and retail hanger packs. SCDAILY

An episode of PBS' Antiques Roadshow featured a woman from New England discovering her father's collection of 1948-49 Leaf baseball cards, neatly preserved in an old cigar box. The collection, highlighted by expert Simeon Lipman, is being sold at Weiss Auctions. SCDAILY

Francis Bacon's 1963 painting ‘Landscape near Malabata, Tangier’, a tribute to his late partner Peter Lacy, is set to lead Christie's 20th/21st Century Evening Sale in London with an estimate of $18.8 million to $25 million, marking its first market appearance in nearly 40 years. The painting, inspired by Vincent Van Gogh and filled with emotional intensity, reflects the love, loss, and passion of Bacon's relationship with Lacy, amidst a backdrop of personal turmoil and artistic acclaim.  ARTNET

Upper Deck inked an exclusive multi-year deal with junior hockey star Michael Misa, a top prospect for the 2025 NHL Draft, featuring a collection of his trading cards and autographed memorabilia. Misa, celebrated for his exceptional skills and awarded "Exceptional Status" in the Ontario Hockey League, joins the ranks of hockey talents like Wayne Gretzky and Connor McDavid in partnering with Upper Deck for fan memorabilia. SCDAILY

Heritage has consigned two of the oldest Knicks uniforms that have ever come up for auction at the house. A ball boy with the team in the 1940s/50s is apparently the consignor. TWITTER

An AFA 85 graded ‘G.I. Joe Aircraft Carrier U.S. Flagg Playset’ was consigned to LCG Auctions. This is allegedly the highest graded copy of the toy to come to market. TWITTER

Mantel, a collectibles-focused social networking site has launched. The company debuted a more bare-bones version of their product a few months ago, but new features including badges and ‘Mantel Points’ have been added in this rollout. MANTEL

Heritage is auctioning the infamous door from Titanic, yes the one that apparently did not have enough room for Leo, in their march Planet Hollywood Signature Auction. Current bid sits at $40,000, we will have to see where the price lands after another 35 days of bidding. HERITAGE

Rally Road has sent their 1980 Rickey Henderson Rookie PSA 10 card to auction at ALT. A like-graded copy of the card most recently sold at Memory Lane auctions for $135,483. ALT

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