BigMac
December 20th, 2004, 03:15 PM
CNN/Money
December 20, 2004
Wall Street's most famous bull for sale
Sculptor says any buyer must leave the 7,000-pound bronze statue in lower Manhattan: report.
http://money.cnn.com/2004/12/20/news/newsmakers/wallstreet_bull/market_bull.03.jpg
The famous Wall Street bull could have a new owner.
NEW YORK (CNN/Money) - If Wall Street wants a bull market, it has one now.
Sculptor Arturo Di Modica, who created the famous flared-nostril, 7,000-pound bull that sits in the heart of New York's financial district in lower Manhattan, is auctioning his famous piece to the highest bidder, a newspaper reported Monday.
The bronze sculpture is one the world's best-known symbols of American capitalism and one of the biggest tourist draws in the financial district. According to the Wall Street Journal, Di Modica said any new owner must leave the "Charging Bull" where it is, and must donate it to New York City.
"Over the years so many people have offered to buy it, but it must stay where it is," he told the Journal.
In exchange, the buyer will get a tax break and branding rights, said the report. The owner's name will also be placed on a plaque designed by Di Modica that will sit next to the bull, the newspaper said.
Di Modica told the Journal that at least 10 percent of the proceeds will be donated to charity and the rest will go toward a set of eight marble sculptures he has in the works.
According to the report, Di Modica was inspired by the 1987 stock market crash to create the bull, investing about $360,000 of his own money in the project.
The newspaper reported that potential buyers include financial institutions like Merrill Lynch.
© 2004 Cable News Network LP, LLLP.
December 20, 2004
Wall Street's most famous bull for sale
Sculptor says any buyer must leave the 7,000-pound bronze statue in lower Manhattan: report.
http://money.cnn.com/2004/12/20/news/newsmakers/wallstreet_bull/market_bull.03.jpg
The famous Wall Street bull could have a new owner.
NEW YORK (CNN/Money) - If Wall Street wants a bull market, it has one now.
Sculptor Arturo Di Modica, who created the famous flared-nostril, 7,000-pound bull that sits in the heart of New York's financial district in lower Manhattan, is auctioning his famous piece to the highest bidder, a newspaper reported Monday.
The bronze sculpture is one the world's best-known symbols of American capitalism and one of the biggest tourist draws in the financial district. According to the Wall Street Journal, Di Modica said any new owner must leave the "Charging Bull" where it is, and must donate it to New York City.
"Over the years so many people have offered to buy it, but it must stay where it is," he told the Journal.
In exchange, the buyer will get a tax break and branding rights, said the report. The owner's name will also be placed on a plaque designed by Di Modica that will sit next to the bull, the newspaper said.
Di Modica told the Journal that at least 10 percent of the proceeds will be donated to charity and the rest will go toward a set of eight marble sculptures he has in the works.
According to the report, Di Modica was inspired by the 1987 stock market crash to create the bull, investing about $360,000 of his own money in the project.
The newspaper reported that potential buyers include financial institutions like Merrill Lynch.
© 2004 Cable News Network LP, LLLP.