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What CAN'T you buy with a £35m lottery win? What CAN'T you buy with a £35m lottery win?
(about 23 hours later)
By Clive Gilbert BBC News EuroMillions lottery winner Angela Kelly will for some time to come be working out how to spend her record-breaking £35.4 million jackpot. Is there anything she couldn't afford?By Clive Gilbert BBC News EuroMillions lottery winner Angela Kelly will for some time to come be working out how to spend her record-breaking £35.4 million jackpot. Is there anything she couldn't afford?
Spend, spend, spend?Spend, spend, spend?
Ms Kelly finds herself among a growing group of super-rich elites, but even she would find some objects well beyond her spending limit.Ms Kelly finds herself among a growing group of super-rich elites, but even she would find some objects well beyond her spending limit.
Take Jackson Pollock's 'No. 5, 1948', for instance. The 'drip' painting reportedly changed hands sold for the record price of $140m (£73m), and is believed to have been sold by David Geffen to David Martinez in a ground-breaking deal negotiated by a Sotheby's auctioneer.Take Jackson Pollock's 'No. 5, 1948', for instance. The 'drip' painting reportedly changed hands sold for the record price of $140m (£73m), and is believed to have been sold by David Geffen to David Martinez in a ground-breaking deal negotiated by a Sotheby's auctioneer.
Last November negotiations were reported by the New York Times and, although Mr Martinez has never confirmed the claim, the deal was seen by art critics as a product of a selling spree connected to the avid art collector's desire to purchase the Los Angeles Times.Last November negotiations were reported by the New York Times and, although Mr Martinez has never confirmed the claim, the deal was seen by art critics as a product of a selling spree connected to the avid art collector's desire to purchase the Los Angeles Times.
HIGHEST PRICES ACHIEVED AT AUCTION Pablo Picasso, Garçon A La Pipe - £52.3m (2004)Gustav Klimt, Portrait Of Adele Bloch-Bauer II - £44.2m (2006)Vincent Van Gogh, Portrait Of Dr Gachet - £41.4m (1990)Pierre Auguste Renoir, Au Moulin De La Galette - £39.3m (1990)Mark Rothko, White Center - £36.6m (2007) source: Sotheby'sHIGHEST PRICES ACHIEVED AT AUCTION Pablo Picasso, Garçon A La Pipe - £52.3m (2004)Gustav Klimt, Portrait Of Adele Bloch-Bauer II - £44.2m (2006)Vincent Van Gogh, Portrait Of Dr Gachet - £41.4m (1990)Pierre Auguste Renoir, Au Moulin De La Galette - £39.3m (1990)Mark Rothko, White Center - £36.6m (2007) source: Sotheby's
The record had previously been held by Picasso's masterpiece Garcon a la Pipe - Boy with a Pipe - which cost its new owners $104m (£58m) in 2004. Even if she could have negotiated 2004 prices, it would still be outside Angela Kelly's price range.The record had previously been held by Picasso's masterpiece Garcon a la Pipe - Boy with a Pipe - which cost its new owners $104m (£58m) in 2004. Even if she could have negotiated 2004 prices, it would still be outside Angela Kelly's price range.
London's first £150m propertyLondon's first £150m property
She may also struggle to buy a home in Kensington Palace Gardens where a house was reputedly sold for a cool £50m in spring 2001. Previously owned by Iranian property developer and art collector Nasser David Khalili, the property was initially listed for a whopping £85m.She may also struggle to buy a home in Kensington Palace Gardens where a house was reputedly sold for a cool £50m in spring 2001. Previously owned by Iranian property developer and art collector Nasser David Khalili, the property was initially listed for a whopping £85m.
The house is in such bad repair that Ms Kelly wouldn't have been able to afford to do it up, neither could she afford the cost of the stamp duty and solicitor's fees Prickett, Ellis and Underhill - vendor's estate agentsThe house is in such bad repair that Ms Kelly wouldn't have been able to afford to do it up, neither could she afford the cost of the stamp duty and solicitor's fees Prickett, Ellis and Underhill - vendor's estate agents
And she would be even further off buying Witanhurst, on Highgate Hill, which formerly housed the BBC's talent show Fame Academy. It is soon to be renovated to become London's first £150m property. The grand and expansive Georgian pile is the size of 10 normal detached family houses and boasts 25 large bedrooms, eight reception rooms, eight bathrooms and five cloakrooms.And she would be even further off buying Witanhurst, on Highgate Hill, which formerly housed the BBC's talent show Fame Academy. It is soon to be renovated to become London's first £150m property. The grand and expansive Georgian pile is the size of 10 normal detached family houses and boasts 25 large bedrooms, eight reception rooms, eight bathrooms and five cloakrooms.
Although the property is the second largest private residence in London after Buckingham Palace, poor maintenance means it requires renovations which even the newly-created millionairess would not be able to afford.Although the property is the second largest private residence in London after Buckingham Palace, poor maintenance means it requires renovations which even the newly-created millionairess would not be able to afford.
According to estate agents Prickett, Ellis and Underhill who sold the property, the house "is in such bad repair that Ms Kelly wouldn't have been able to afford to do it up, neither could she afford the cost of the stamp duty and solicitor's fees".According to estate agents Prickett, Ellis and Underhill who sold the property, the house "is in such bad repair that Ms Kelly wouldn't have been able to afford to do it up, neither could she afford the cost of the stamp duty and solicitor's fees".
Multi-million pound properties are in increasing demand in the capital after a two-year long boom in City bonuses and the entry of foreign buyers and investors into the London property markets.Multi-million pound properties are in increasing demand in the capital after a two-year long boom in City bonuses and the entry of foreign buyers and investors into the London property markets.
So Angela Kelly might have to limit her ambition. Forbes magazine maintains a Cost of Living Extremely Well Index, a basket of 41 items whose price the magazine tracks on behalf of its well-heeled readership, which would provide more scope.So Angela Kelly might have to limit her ambition. Forbes magazine maintains a Cost of Living Extremely Well Index, a basket of 41 items whose price the magazine tracks on behalf of its well-heeled readership, which would provide more scope.
At the lower end of the scale, a Steinway and Sons piano would set her back a mere £52,000, it says. Or aiming higher, a Lear jet 40XR, which seats six passengers, would eat £4.4m of her new fortune - though of course, that would not cover the astronomical maintenance costs. On top of this the cost of a personal pilot or appropriate training would make this a hefty investment.At the lower end of the scale, a Steinway and Sons piano would set her back a mere £52,000, it says. Or aiming higher, a Lear jet 40XR, which seats six passengers, would eat £4.4m of her new fortune - though of course, that would not cover the astronomical maintenance costs. On top of this the cost of a personal pilot or appropriate training would make this a hefty investment.
All things considered, and as the gap between the rich and the super-rich widens, Angela Kelly's spending prospects merely open another window on a world of things that one can only dream about affording.All things considered, and as the gap between the rich and the super-rich widens, Angela Kelly's spending prospects merely open another window on a world of things that one can only dream about affording.