Auction News: SongVest reinvents music memorabilia market with first major song sale

SongVest is revitalizing the music memorabilia business by offering the ultimate fan collectible: the songs themselves.

The company’s first major online auction will run Oct. 4-18, 2008 at www.songvest.com. (Click here to check out the lots now!)

The innovative SongVest platform offers buyers the opportunity to own a percentage of the writer’s share of their favorite songs, including those made famous by Aerosmith, Ringo Starr, Cher, Ozzy Osbourne, Bon Jovi, Faith Hill, The Monkees, and more. (Click here to view the full auction listing at www.songvest.com).

By auctioning off a portion of the writer’s share, these and other artists are giving fans an unprecedented chance to participate in the careers of rock ’n’ roll royalty through the world’s only “memorabilia with a paycheck.”

By connecting songwriters with fans through auctions, SongVest is modernizing the music industry by creating a new venue for the trading of artists’ intellectual and commercial property — their song rights and multiple associated royalty streams.

Songwriters, musicians, and producers will have the power to determine the terms of each auction, including what percentage — up to 100% — of each song they’d like to auction; the reserve price that guarantees nothing will sell for less than what they want; and the auction length. Because songwriters are selling a share of their songs — but releasing none of the copyright — SongVest ensures that the writers still control their legacy.

Those who purchase their share of song royalties will receive a personalized plaque denoting their new status as song co-owner, along with a one-of-a-kind, RIAA-certified gold or platinum album award, handwritten lyrics, and other collectible items.

Buyers make money every time the songwriter does. Using SongVest’s personalized, hassle-free Music Mogul Dashboard™, they can easily track the performance of their song portfolio. And because all transactions are reviewed and managed by legal and financial experts to make sure they’re entirely lawful and that future royalty payments are sent promptly, buyers can play their song all the way to the bank.

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