Wolfe gets Getty Stock For Photo Rights

Posted on 1/7/2000 by Jim Pickerell | Printable Version | Comments (0)



January 7, 2000

Art Wolfe has once again demonstrated his legendary business prowess in the photo

industry. This time it is by acquiring and selling Getty shares, rather than


On December 15, 1999 Art Wolfe sold 7,587 shares of Getty Images stock that he

had received in "Payment for Photo Rights" a year earlier. When Wolfe acquired

the shares he traded photo rights that were valued at $100,000 for them.

According to his report to the SEC filed under rule 144 of the Securities Act he

received $312,000 for these shares. A tidy profit.

Early in 1999 rumors were floating in the industry that Wolfe had transferred to

Getty Images all rights for seven years to 150 catalog images for ú450,000

(approximately $700.000). This would have given Getty some very marketable

images that were, in effect, wholly owned. It appears that, instead of cash,

Wolfe got shares valued at $13 1/8 per share at that time. That work out to

about $4,670 per image at the time.

However, with the recent rise in Getty stock those seven year licenses that he

sold netted Wolfe close to $15,000 per catalog image.

At the $13 1/8 share price, Wolfe probably received something in the neighborhood

of 53,800 share for the rights to his images. Consequently, his 7,587 share sale

were only a small part of his total holdings. It is likely that he is still

holding at least 46,000 shares worth about $2.3 million at today's price of


Copyright © 2000 Jim Pickerell. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz

Jim Pickerell is founder of www.selling-stock.com, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to: http://www.jimpickerell.com/Curriculum-Vitae.aspx.  


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