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More economic gloom to come: what will you sell?, by Daniel Silk on Dec 4, 2008 16:55:07 GMT 1, Now is the time to buy, buy, buy! Prices are 20-30% lower than 6 months ago on most everything.
Certainly are some bargains about at the moment Trouble is so few of us have the money to buy
Now is the time to buy, buy, buy! Prices are 20-30% lower than 6 months ago on most everything. Certainly are some bargains about at the moment Trouble is so few of us have the money to buy
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More economic gloom to come: what will you sell?, by fatherxmas on Dec 4, 2008 17:08:29 GMT 1, Im saving over 303 a month
One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off)
Bring it down another 1% please and let bring back the times like we had in 1600 haha
So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop
With regards to buying, good diea, but you just need the 25/30/40% deposit. But if that was hard enough try ACTUALLY obtaining a mortgage. Lenders say they are still lending but are they really. Im trying to borrow money at the moment and its been a NO NO NO
Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop With regards to buying, good diea, but you just need the 25/30/40% deposit. But if that was hard enough try ACTUALLY obtaining a mortgage. Lenders say they are still lending but are they really. Im trying to borrow money at the moment and its been a NO NO NO
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Avian Security
Artist
New Member
Posts โข 495
Likes โข 2
November 2007
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More economic gloom to come: what will you sell?, by Avian Security on Dec 4, 2008 17:15:24 GMT 1, Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop With regards to buying, good diea, but you just need the 25/30/40% deposit. But if that was hard enough try ACTUALLY obtaining a mortgage. Lenders say they are still lending but are they really. Im trying to borrow money at the moment and its been a NO NO NO
Yes yes we don't need to see your accounts fuckface.
Wierdly I have very little money, but no problems obtaining cheap credit. Go figure.
Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop With regards to buying, good diea, but you just need the 25/30/40% deposit. But if that was hard enough try ACTUALLY obtaining a mortgage. Lenders say they are still lending but are they really. Im trying to borrow money at the moment and its been a NO NO NO Yes yes we don't need to see your accounts fuckface. Wierdly I have very little money, but no problems obtaining cheap credit. Go figure.
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darrenrapley
Junior Member
Posts โข 1,858
Likes โข 229
June 2008
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More economic gloom to come: what will you sell?, by darrenrapley on Dec 4, 2008 17:26:42 GMT 1, No offence fatherxmas but talking about money in this much detail can be rather crass. For the record, I am neither rich nor poor.
No offence fatherxmas but talking about money in this much detail can be rather crass. For the record, I am neither rich nor poor.
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matbat
New Member
Posts โข 520
Likes โข 6
December 2006
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More economic gloom to come: what will you sell?, by matbat on Dec 4, 2008 17:27:36 GMT 1, Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop All good i suppose if your house/flat price has not fallen more than 10k than when you bought it.
Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop All good i suppose if your house/flat price has not fallen more than 10k than when you bought it.
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darrenrapley
Junior Member
Posts โข 1,858
Likes โข 229
June 2008
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More economic gloom to come: what will you sell?, by darrenrapley on Dec 4, 2008 17:32:56 GMT 1, Also, there is a reason why interest rates have had to be dropped...
Also, there is a reason why interest rates have had to be dropped...
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More economic gloom to come: what will you sell?, by onemandown72 on Dec 4, 2008 17:41:35 GMT 1, Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop With regards to buying, good diea, but you just need the 25/30/40% deposit. But if that was hard enough try ACTUALLY obtaining a mortgage. Lenders say they are still lending but are they really. Im trying to borrow money at the moment and its been a NO NO NO
I usually find that those with the most, actually talk about it the least.
Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop With regards to buying, good diea, but you just need the 25/30/40% deposit. But if that was hard enough try ACTUALLY obtaining a mortgage. Lenders say they are still lending but are they really. Im trying to borrow money at the moment and its been a NO NO NO I usually find that those with the most, actually talk about it the least.
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brun
New Member
Posts โข 879
Likes โข 0
December 2007
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More economic gloom to come: what will you sell?, by brun on Dec 4, 2008 18:28:19 GMT 1, true enough about the mortgages , if you put down 20 -40% but most people only put down 5 -10% (and they borrowed that too) over the last few years on property way beyond their means , and now expect us to bail them out whilst they fill up their 4 wheel drive and head to work in a chicken stuffing factory ............keep on crashing thats the way to go :
true enough about the mortgages , if you put down 20 -40% but most people only put down 5 -10% (and they borrowed that too) over the last few years on property way beyond their means , and now expect us to bail them out whilst they fill up their 4 wheel drive and head to work in a chicken stuffing factory ............keep on crashing thats the way to go :
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funyoung
Junior Member
Posts โข 1,040
Likes โข 20
February 2008
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More economic gloom to come: what will you sell?, by funyoung on Dec 4, 2008 20:00:49 GMT 1, Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop All good i suppose if your house/flat price has not fallen more than 10k than when you bought it. Interest rates have gone down by 3% in the last three cuts haven't they? Meanwhile average house prices have dropped by as much as 2.6% in last month alone (some source on internet somewhere). Ad that to previous drops and you are looking at significant falls in house prices.
Im saving over 303 a month One of my mortgages is 1.49% (.51 below bank of england base rate with no cut off) Bring it down another 1% please and let bring back the times like we had in 1600 haha So in total the 3 consecutive rate cuts have and will be saving me 909 a month which is over 10k a yr saved Whoop whoop All good i suppose if your house/flat price has not fallen more than 10k than when you bought it. Interest rates have gone down by 3% in the last three cuts haven't they? Meanwhile average house prices have dropped by as much as 2.6% in last month alone (some source on internet somewhere). Ad that to previous drops and you are looking at significant falls in house prices.
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More economic gloom to come: what will you sell?, by manchestermike on Dec 4, 2008 20:07:15 GMT 1, Interest rates will drop again... good for me in one way as I just moved and while my new house is on a fixed my other one hasn't sold yet and is on a variable, so keep dropping those rates until I sell it...
The new house is an eco house so lower bills ahoy... which is one positive even though the mortgage is fixed!
Interest rates will drop again... good for me in one way as I just moved and while my new house is on a fixed my other one hasn't sold yet and is on a variable, so keep dropping those rates until I sell it...
The new house is an eco house so lower bills ahoy... which is one positive even though the mortgage is fixed!
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raiden
New Member
Posts โข 512
Likes โข 3
April 2008
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More economic gloom to come: what will you sell?, by raiden on Dec 6, 2008 5:09:35 GMT 1, I'm actually going to sell a couple pieces I think... Probably maybe the Shepard Fairey / Blek collab pieces I have, and probably some Audrey Kawasaki stuff that I bought but don't want to spend to frame and still have pretty good value, my older Hutch stuff that I just don't see going up at all in the next six months, maybe an extra Shep print or two.
Personally, I'm thinking of selling off even more stuff. I actually wish I sold all my unhung prints entirely last month and regretting several of the purchases I have made, not because they were bad selections at all, but because I really think with the declining market, I could have gotten more for my money in six months.
Expect to see more galleries close up shop, more fireside sales, more artists and gallery owners flooding their market to make their mortgages.
Yesterday was actually the first day I tallied my entire art collection up and decided what should stay or go.
Its interesting how much stuff I own that is a fraction of the price I could have got for it just four months ago - Nick Walker 'Nickers' for example and Blek Le Rat 'Angel' in particular. Neither I've lost money on at this point but both are selling for 1/4th of the peak prices that were realized (though both are extreme cases as Blek flooded and diluted his market after the peak price and Nick Walker's prices went screwy off of one insane 'Moona Lisa' sale at auction - that guy must be kicking himself now.)
Still, I got one piece recently for 1/3 its original gallery price 3 years ago, on an artist who sold out his last 6 print releases.
Other really bad signs:
-Eelus 'Raven Haired' still hasn't sold out - nor has his originals. Shocking to me given the last six months he's had - never would have occurred a year ago.
-The alarming and escalating number of forever relisted 'Buy It Now' prints by collectors on eBay too delusional to take a loss. (watch out when they do or more of these galleries are having trouble keeping the lights on)
-The decision by a very prominent agent who will remain nameless to sell his breadwinners pieces on ebay for a fraction of the gallery ask and then offer his other prominent client's pieces at 50% in a fire sale dressed up as something else. (no I won't tell you who)
-The fact you're hearing "sales" in the art world in the first place.
I'm actually going to sell a couple pieces I think... Probably maybe the Shepard Fairey / Blek collab pieces I have, and probably some Audrey Kawasaki stuff that I bought but don't want to spend to frame and still have pretty good value, my older Hutch stuff that I just don't see going up at all in the next six months, maybe an extra Shep print or two.
Personally, I'm thinking of selling off even more stuff. I actually wish I sold all my unhung prints entirely last month and regretting several of the purchases I have made, not because they were bad selections at all, but because I really think with the declining market, I could have gotten more for my money in six months.
Expect to see more galleries close up shop, more fireside sales, more artists and gallery owners flooding their market to make their mortgages.
Yesterday was actually the first day I tallied my entire art collection up and decided what should stay or go.
Its interesting how much stuff I own that is a fraction of the price I could have got for it just four months ago - Nick Walker 'Nickers' for example and Blek Le Rat 'Angel' in particular. Neither I've lost money on at this point but both are selling for 1/4th of the peak prices that were realized (though both are extreme cases as Blek flooded and diluted his market after the peak price and Nick Walker's prices went screwy off of one insane 'Moona Lisa' sale at auction - that guy must be kicking himself now.)
Still, I got one piece recently for 1/3 its original gallery price 3 years ago, on an artist who sold out his last 6 print releases.
Other really bad signs:
-Eelus 'Raven Haired' still hasn't sold out - nor has his originals. Shocking to me given the last six months he's had - never would have occurred a year ago.
-The alarming and escalating number of forever relisted 'Buy It Now' prints by collectors on eBay too delusional to take a loss. (watch out when they do or more of these galleries are having trouble keeping the lights on)
-The decision by a very prominent agent who will remain nameless to sell his breadwinners pieces on ebay for a fraction of the gallery ask and then offer his other prominent client's pieces at 50% in a fire sale dressed up as something else. (no I won't tell you who)
-The fact you're hearing "sales" in the art world in the first place.
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More economic gloom to come: what will you sell?, by fatherxmas on Dec 6, 2008 5:29:42 GMT 1, Its true what someoen says about how much has the propertys dropped. But i bought at reduced rates and my mortgages to these propertys must be 60% loan to value..So i can afford drops.. I bought property as a long term investment, wether property dropped 80% it does not bother me, if property went up 100% it would not bother me, all it would do is give me equity in the property to buy again. All i ask for is to have tenants in my places all the time, and in which this will cov er my mortgages. The way i look at it is, im in a win win situation, only the people who will get burnt are the ones who wanted to becoem millionaires over night by buying floors in new build tower blocks where the area was already saturated with more property to meet demand. What im surprized about is like what happened to northern rock, people get worried and start to worry..Oh my property has dropped 10/20/30% but if your not selling and you can cover the mortgage which you took out why panic. A property you buy is a home for you to live in, not to make money in. The wannabe hotshots deserve to be burnt, how thigns were going flats where i was buying were hitting the 350 mark ..fooooooooook that.. that was never going to last. One property i was looking at has been converted into 2 flats...325 each but on the smae road you can buy a house for 400... What does that tell you, he is going to get his arse burnt..and that house for 400 is not even selling..Maybe at 300 it would look interesting. Like anything, we're in a hard tiem at the moment but if people stop panicking and just ride the tide we'll be ok. The only problem is that this country was handing money out to any joe bloggs who said they were on 100k a yr without doing there homeworka nd its now effecting investors like me getting money @ relistics rates. Liek any time, some people are going to los and some people are going to win. if you want an investment and your cash rich at the moment,property is the safest bet (long term) Some banks are offering 2% on your money and only guarenteeing you to the first 50k...What doeshat tell you..is a bank a safe bet..Hell no.. Money in the bank IMO is a waste of time, its just gathering dust..Invest and take a punt Why play safe and still lose your money...
Its true what someoen says about how much has the propertys dropped. But i bought at reduced rates and my mortgages to these propertys must be 60% loan to value..So i can afford drops.. I bought property as a long term investment, wether property dropped 80% it does not bother me, if property went up 100% it would not bother me, all it would do is give me equity in the property to buy again. All i ask for is to have tenants in my places all the time, and in which this will cov er my mortgages. The way i look at it is, im in a win win situation, only the people who will get burnt are the ones who wanted to becoem millionaires over night by buying floors in new build tower blocks where the area was already saturated with more property to meet demand. What im surprized about is like what happened to northern rock, people get worried and start to worry..Oh my property has dropped 10/20/30% but if your not selling and you can cover the mortgage which you took out why panic. A property you buy is a home for you to live in, not to make money in. The wannabe hotshots deserve to be burnt, how thigns were going flats where i was buying were hitting the 350 mark ..fooooooooook that.. that was never going to last. One property i was looking at has been converted into 2 flats...325 each but on the smae road you can buy a house for 400... What does that tell you, he is going to get his arse burnt..and that house for 400 is not even selling..Maybe at 300 it would look interesting. Like anything, we're in a hard tiem at the moment but if people stop panicking and just ride the tide we'll be ok. The only problem is that this country was handing money out to any joe bloggs who said they were on 100k a yr without doing there homeworka nd its now effecting investors like me getting money @ relistics rates. Liek any time, some people are going to los and some people are going to win. if you want an investment and your cash rich at the moment,property is the safest bet (long term) Some banks are offering 2% on your money and only guarenteeing you to the first 50k...What doeshat tell you..is a bank a safe bet..Hell no.. Money in the bank IMO is a waste of time, its just gathering dust..Invest and take a punt Why play safe and still lose your money...
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Deleted
Posts โข 0
Likes โข
January 1970
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More economic gloom to come: what will you sell?, by Deleted on Dec 6, 2008 6:46:12 GMT 1, mate the whole economy is going under next year
Buying art helps the economy, people buckling down and hording cash may help individuals a little, but if "the whole economy is going under next year" doom and gloomers like yourself are going to be a little bit repsonsbile as we need to spend money to keep it afloat. so just carry on as normal, just in a responsible manner and all will be more than ok.
mate the whole economy is going under next year Buying art helps the economy, people buckling down and hording cash may help individuals a little, but if "the whole economy is going under next year" doom and gloomers like yourself are going to be a little bit repsonsbile as we need to spend money to keep it afloat. so just carry on as normal, just in a responsible manner and all will be more than ok.
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jamesreeve5
Blank Rank
Posts โข 0
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September 2012
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More economic gloom to come: what will you sell?, by jamesreeve5 on Dec 6, 2008 8:35:50 GMT 1, My Faile original on paper... do you want it?
My Faile original on paper... do you want it?
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raiden
New Member
Posts โข 512
Likes โข 3
April 2008
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More economic gloom to come: what will you sell?, by raiden on Dec 6, 2008 10:01:51 GMT 1, So slammer, you're in the market to buy? Don't horde cash now, the whole economy, which includes me, needs it.
So slammer, you're in the market to buy? Don't horde cash now, the whole economy, which includes me, needs it.
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Pattycakes
Junior Member
Posts โข 1,379
Likes โข 422
June 2007
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More economic gloom to come: what will you sell?, by Pattycakes on Dec 6, 2008 10:33:37 GMT 1, I sold about eight things at Bloomsbury yesterday, i'm not saying what but they were mixed between the British Art and the Pop Art sections, I did well, everything I entered sold and sold for, in most cases, well over the high estimate - I was selling to thin the collection a bit, and put together some money for the Junior Printguru who is arriving in March. I very nearly bought the Tilson Che at the sale, but decided not to push it too far, so underbid it to ยฃ800. Certainly my buying from now on is going to be very selective, I think honestly I'll only be out shopping for sleepers that I know I'll be buying well.
I sold about eight things at Bloomsbury yesterday, i'm not saying what but they were mixed between the British Art and the Pop Art sections, I did well, everything I entered sold and sold for, in most cases, well over the high estimate - I was selling to thin the collection a bit, and put together some money for the Junior Printguru who is arriving in March. I very nearly bought the Tilson Che at the sale, but decided not to push it too far, so underbid it to ยฃ800. Certainly my buying from now on is going to be very selective, I think honestly I'll only be out shopping for sleepers that I know I'll be buying well.
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More economic gloom to come: what will you sell?, by rosstierney on Dec 6, 2008 18:49:05 GMT 1, Buying art helps the economy, people buckling down and hording cash may help individuals a little, but if "the whole economy is going under next year" doom and gloomers like yourself are going to be a little bit repsonsbile as we need to spend money to keep it afloat. so just carry on as normal, just in a responsible manner and all will be more than ok.
good shout slammer
people are being over sensitive with their money on the back of media scaremongering
one minute no-one's buying, the next, a banksy's released & people are finding ยฃ2k+ to spend on the secondary market
there's money out there
Buying art helps the economy, people buckling down and hording cash may help individuals a little, but if "the whole economy is going under next year" doom and gloomers like yourself are going to be a little bit repsonsbile as we need to spend money to keep it afloat. so just carry on as normal, just in a responsible manner and all will be more than ok. good shout slammer people are being over sensitive with their money on the back of media scaremongering one minute no-one's buying, the next, a banksy's released & people are finding ยฃ2k+ to spend on the secondary market there's money out there
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Bram
Artist
Junior Member
Posts โข 2,815
Likes โข 286
November 2007
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More economic gloom to come: what will you sell?, by Bram on Dec 6, 2008 18:58:07 GMT 1, Agreed - too much pessimism around. Thinking positive is the answer. In the words of that famous philosopher Billy Joel "the good old day's wasn't always good and tomorrow isn't as bad as it seems"
Agreed - too much pessimism around. Thinking positive is the answer. In the words of that famous philosopher Billy Joel "the good old day's wasn't always good and tomorrow isn't as bad as it seems"
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Deleted
Posts โข 0
Likes โข
January 1970
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More economic gloom to come: what will you sell?, by Deleted on Dec 7, 2008 0:31:01 GMT 1, So slammer, you're in the market to buy? Don't horde cash now, the whole economy, which includes me, needs it.
always looking out for that special piece right?.
good art doesnt have to cost a lot. my collection is mainly originals which cost less than ยฃ300 each. although i do have a few pieces which were more expensive. if i didnt continue to have the occasional treat i'd go mad. i dont drink, smoke or drive a fast car. i'm still working in the same s**tty lowish paid job. gotta spend it on something . i am looking to thin down the collection a little though as running out of wall space.
So slammer, you're in the market to buy? Don't horde cash now, the whole economy, which includes me, needs it. always looking out for that special piece right?. good art doesnt have to cost a lot. my collection is mainly originals which cost less than ยฃ300 each. although i do have a few pieces which were more expensive. if i didnt continue to have the occasional treat i'd go mad. i dont drink, smoke or drive a fast car. i'm still working in the same s**tty lowish paid job. gotta spend it on something . i am looking to thin down the collection a little though as running out of wall space.
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phoenixlune
New Member
Posts โข 190
Likes โข 0
December 2007
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More economic gloom to come: what will you sell?, by phoenixlune on Dec 8, 2008 11:48:29 GMT 1, was at teh POW show yesterday, it was a little even tand i thought that it would be a bit bigger, but i turned up late so i may have missed lots.
my quote of the day was some horsey girl saying
"600 pounds... thats not too much....!!!" for a random artists print
was at teh POW show yesterday, it was a little even tand i thought that it would be a bit bigger, but i turned up late so i may have missed lots.
my quote of the day was some horsey girl saying
"600 pounds... thats not too much....!!!" for a random artists print
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