Blogs | Scam Diego
Artworks Owned by Copley Press Go to Auction
By Don Bauder | Posted April 20, 2010, 3:13 p.m.
Copley Press continues to shed assets. A.N. Abell Auction Co. of Los Angeles on Thursday (April 22) begins auctioning works of art that Copley Press collected through the years. The really expensive items from the former Copley Library are being separately auctioned in New York by Sotheby's. The first Sotheby's auction was April 14. Abell will auction works by Southern California artists including Rex Brandt, Emil Kosa, Roy Mason, and Eileen Whitaker. Many of the items are prints and watercolors. Also going on the block is a collection of newspaper broadsheets from before the Revolutionary War. Abell's Joe Baratta says the collection is worth $100,000 to $150,000. Helen Copley had original oils by some of the world's best-known artists hanging in her Foxhill home, but they will remain with David Copley, says Baratta.
This is bad news for San Diego. The art works were not readily seen by local residents, but this sale means they leave the area for good. A far more appropriate disposition would have been to have them given to a local art museum and put on public display. When the other items from the Copley Library are sold, it will represent another loss. The Copley family made its fortune in this county--the newspaper(s) was (were) a money tree--but that seems to count for nothing in the hands of David Copley. It is all an ignominious end of a media empire.
By Visduh 9:20 p.m., Apr 21, 2010 > Report it
Response to post #1: I agree with you. The historical items from the Copley Library should have stayed in the San Diego area. These artworks of lesser value should, too. All this raises the major question: is David Copley hurting financially? Even though Copley Press got only a bit above $50 million for the U-T, and it had been worth a billion bucks only five years earlier, I have not yet concluded that David is squeezed for money. He does have to have a big staff on his $33 million yacht, requiring big regular payments. The acreage next to his mother's Foxhill is up for sale. But David is refurbishing Foxhill. Most La Jollans I talk with don't think he intends to sell it. If he were truly hurting, he would dump it along with the acreage. He had financial assets outside of the newspaper, but his stocks (heavily tech, I have reason to believe) would have lost value in the tech crash, and again in the Great Recession crash. But I hardly think he lost a huge amount. I think San Diego is losing great treasures from the library. Best, Don Bauder
By dbauder 7:37 a.m., Apr 22, 2010 > Report it
So, if you're right about David's finances, there's no compelling reason for him to sell off this collection, at least not right now. If so, why is he doing it?
Insanity? Always possible. But it seems to me that it is more a repudiation of San Diego and any sense that he owes anything to the city that made him rich. Oh, he'll enjoy his La Jolla estate for the time he has left in much the same way that many plutocrats enjoy the local climes. But he is insuring that he'll leave no legacy when he passes. Well, his mother's name is on Symphony Hall, and a local YMCA, but that's about it. And Irwin Jacobs has given the Symphony far more than Helen Copley ever dreamt of giving.
Just an ignominious end of a media empire and local family.
By Visduh 8:21 p.m., Apr 22, 2010 > Report it
David Copley is in poor health-and has been for some time. The guy is 58, and to be honest he has lived probably much longer than he probably thought he would have-and I am sort of shocked he is still around given his health problems and his weight. Having said that, I don't think he cares about San Diego or anything else-just David Copley. That's it. And it is his right.
That's his right, but I wish it were different. Wish it were different because he coudl do so much more, but it is his money/art/whatever to do with as he pleases.
In my view it is sort of sad-and in a way I almost pity the poor guy b/c he does not seem to understand, or refuses to accept, the standard values most Americans would have, or at least aspire to have= leaving this place better off than when you came.
By SurfPuppy619 10:20 p.m., Apr 22, 2010 > Report it
Response to post #3: I don't know that I am right about David's finances. He still has very big expenses -- his yacht, social life. He may feel he needs a cushion and that is why Copley Press is selling off the valuable library items. It has given a few items of very little value to San Diego institutions. I believe the Star of India may have gotten some materials. But the items that could draw money have gone to auction. Best, Don Bauder
By dbauder 9:54 p.m., Apr 23, 2010 > Report it
Response to post #4: David has lost a lot of weight, as anybody having had a heart transplant would be strongly urged to do. If he is going to leave a legacy in San Diego, he should start soon. He has a lot of valuable artworks that he collected through the years. Best, Don Bauder
By dbauder 9:59 p.m., Apr 23, 2010 > Report it
I am sort of shocked he is still around given his health problems and his weight.
=======
Copley is starting to look like an advance man for a famine.
http://www.thesocialdiary.com/davidcopleybirthday2010.html
By Burwell 10:11 p.m., Apr 23, 2010 > Report it
Heart transplant patients have an average life expectancy of 15 years. Copley could easily make into his early 70s if he's lucky.
http://en.wikipedia.org/wiki/Heart_transplantation
By Burwell 11:22 p.m., Apr 23, 2010 > Report it
Response to post #7: Yes, I was shocked, too, to see how much weight he has lost. In earlier photos I have seen, he was nowhere near as thin, although he had lost a lot of weight. David's good friend Andrew Shelton doesn't seem to have shed much weight. Best, Don Bauder
By dbauder 7:23 a.m., Apr 24, 2010 > Report it
Response to post #8: At the time of his transplant, David was in very poor physical condition. Some have cocked an eyebrow at the fact that he even got a transplant, then gave a bundle of money to the hospital performing the operation. Some people can have repeat transplants, I am told -- thus extending life expectancy. Best, Don Bauder
By dbauder 7:27 a.m., Apr 24, 2010 > Report it
Copley is starting to look like an advance man for a famine.
By Burwell
======================
WOW!
Thanks for posting those pics up of David Copley B.
I had no idea he had lost all his weight-and yes, he now looks like he is suffering from an eating disorder. Very thin, looks nothing like he used to. It is better to be too thin than too fat though.
I wonder if he had gastric bypass or other surgery-that weight loss is just so dramatic.
In any event, I am glad to see him in better health-or apepars to be in better health.
I have never heard of anyone getting two heart transplants-but if they do that then I guess Copley is the one who has the funds to do it.
By SurfPuppy619 8:29 a.m., Apr 24, 2010 > Report it
Response to post #11: Making sure he has the funds for a possible second heart transplant may have something to do with the auctioning of the valuable papers from the Copley Library. Then again, it may have nothing to do with the auctions. I am still trying to figure how much David has. Much depends on several factors: 1 How much did he net, if any, from the sale of the Illinois and Ohio papers? The company said the money went to pay Helen's estate costs, but didn't say how much of the sum went for that purpose; 2. How much did he have in the financial asset portfolio he inherited from his late mother? 3. How much did he lose, if anything, in the two market crashes? 4. How much does he spend yearly staffing and running his $33 million yacht, maintaining his huge home, maintaining Foxhill, throwing his huge parties, etc.? 5. How much is he spending refurbishing Foxhill and does he intend to sell it? I know people who know the answers to these questions but they aren't talking. Best, Don Bauder
By dbauder 11:40 a.m., Apr 24, 2010 > Report it
That Social Diary piece is sickening. David is obviously in dire financial straits--others hosted his b'day party, and he hasn't had $10 in his pocket to afford a haircut in a couple years. Do those people actually take all this stuff seriously?
The writer also doesn't know a small point most any home gardener knows. Those lemons are MEYER lemons, not Myer's. Literacy isn't one of the strong points at the Diary.
By Visduh 5:30 p.m., Apr 24, 2010 > Report it
Response to post #13: Margo Schwab of La Jolla runs the site. She is pretty savvy but spelling may not be one of her strong points. I wouldn't read too much into who hosted the party; that La Jolla/RSF set (ranch and coast) rotates hosts. Nor would I read too much into the haircut. Nobody has suggested to me that David can't afford a trim. I would say he certainly has assets of well over $100 million and possibly $200 million. However, his cash flow could be down. I would hope his advisers have put him in financial assets that throw off income. Best, Don Bauder
By dbauder 9:48 p.m., Apr 24, 2010 > Report it
re: #13, etc. I thought Mr. Copley looked quite well next to the hosts--the Coopers--get a load of his rug (and flush from too many lunches as shown) and her mask!
Surprising to see the various grammatical errors, as well as attribution of the lemon to a mystery possessor (perhaps like a hospital wing?). After all, Ms. Schwab attended La Jolla Country Day School--it's all right there on her CV!
By SDaniels 12:54 a.m., Apr 25, 2010 > Report it
Response to post #15: Is attendance at La Jolla Country Day a guarantee of pristine grammar? All in all, I think Marqo does a good job. I have never attended the Beautiful People events in San Diego (other than those connected with San Diego Opera) and would pay a yearly annual retainer NOT to have to go to them, but I still read Margo's reports. Best, Don Bauder
By dbauder 8:34 a.m., Apr 25, 2010 > Report it
I think Margo Schwab puts out a good product, for what it is. If the U-T hired her as society columnist, and I think they should, she would soon learn to write like a professional.
By Burwell 10:49 a.m., Apr 25, 2010 > Report it
I thought Mr. Copley looked quite well next to the hosts--the Coopers--get a load of his rug..............
================
I was going to mention how obvious his toupee was, but decided not to-but it was sad to see something so fake-almost as bad as Jan Goldsmith's rug.
As for Margo-she is pretty cool. Some of you were not around a year or two ago and we were discussing some pics from Margo's website-and she actually showed up and posted here. She was a great sport.
It is gossip/celeb site and I think she does a great job, mainly because she has exclusive pics tha are very high quaility.
I only wish someone had snapped a few of Ms. Margo, because she is very much the eye candy.
By SurfPuppy619 3:04 p.m., Apr 25, 2010 > Report it
I think Margo Schwab puts out a good product, for what it is.
By Burwell
====================
My point too- exactly!
By SurfPuppy619 3:05 p.m., Apr 25, 2010 > Report it
Response to post #17: I'm not sure the U-T can teach people to write. Read it more closely. Margo was the society writer for the La Jolla Light at one time. I don't know what happened there. But I believe her website is good. Best, Don Bauder
By dbauder 8:51 p.m., Apr 25, 2010 > Report it
Response to post #18: All her sites have pictures of herself and her husband. The one of the party for David Copley has photos of Margo. Best, Don Bauder
By dbauder 8:55 p.m., Apr 25, 2010 > Report it
Response to post #19: Agreed. Best, Don Bauder
By dbauder 8:56 p.m., Apr 25, 2010 > Report it