Transcripts For FBC Kennedy 20160309 : vimarsana.com

To the small town of wellfleet. Im here to learn about a strange inheritance that shaped a familys life for half a century. My name is elena delbanco. In 2011, my sister and i inherited an extraordinary object from our father. This was my fathers home for many years. He and my mother built it in 1955. Elenas father was the virtuoso cellist Bernard Greenhouse, who died in 2011 at the age of 95. [ Classical Music plays ] greenhouse spent most of his career playing with the renowned beaux arts trio, which made its debut in 1955 and catapulted to fame. He was very warm and very charming but very involved with his work. And he traveled all the time as he became more and more successful. As one of the worlds premier cellists, bernard figured he should be playing one of the worlds finest cellos. He began searching in europe for an instrument equal to his talent. He went to dealers and to instrument shops, and wherever he went, he said, have you heard any rumors about great cellos . In 1957, he found one in the west german city of aachen. Your father came home with something he longed for, searched for. I was very young. But i knew that he had found something very important. Very important, indeed. It was a stradivarius, crafted in italy around 1707 by the master of them all, antonio stradivari. It even has its own aristocratic title, the countess of stanlein. Sound expensive . It was. It was a huge sum of money for us, for our family. And it made a huge difference in our lives to pay it off over many years. Dealers estimate bernard paid around 100,000, an astronomical sum in the late 1950s, when the average American House sold for 18,000. But for greenhouse, the instrument became a part of him. He called it every superlative you could call it his love, his treasure, his heart, his voice. At the height of his career, greenhouse performed nearly 200 times a year. I always wanted to hop in the cello case and travel with my father wherever he was going. When greenhouse wasnt in concert, he taught at the Manhattan School of music, juilliard, and here at home, in his cape cod studio. This is where elena also played the cello as a child. You sometimes put your name in his appointment book to try to get time with him in lieu of a lesson, erasing the name of a student that was actually coming. I didnt do that to get a cello lesson. I did that to get an hour of his time. Did you ever play the strad . No, never. Why . I never played well enough to play the strad. By whose opinion . I guess by my fathers, but i never wanted to. Can i hear him play . I would love it. [ midtempo Classical Music plays ] having the music is wonderful. Its hard but wonderful. [ music continues ] isnt it beautiful . Wow haunting. Whats the first thing you do when you have to decide whether to keep or sell the family jewel . I think the first question you ask yourself is, do you have any use for or love for the family jewel . And then, i think a big part of it also is, can you afford to keep the family jewel . The financial implications of this strange inheritance worry elena and her husband, nicholas, who are both College Professors nearing retirement. What would it have entailed to keep the strad . Insurance . Storage . Coming up, of course, with the taxes that the government wants. Did you hear from them . No, no, they just said, let those people keep their inheritance. [ laughs ] we have so many other people. Yes, of course. So, does that weigh in to whether you have to sell something, the fact that you have to pay taxes . Absolutely. So, what should elenas family do . They decide its too expensive to keep the strad. Theyre keenly aware that a successful auction could yield millions quite a nice nest egg in retirement. But selling a 300yearold stradivarius is no small undertaking. Its a cutthroat world in the world of musical instruments. We came to understand all kinds of things that could go wrong. Thats next. But first, our strange inheritance quiz question. The answer when we return. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. When master cellist Bernard Greenhouse dies at the age of 95, his heirs face a quandary what to do with his beloved stradivarius, worth millions of dollars. My father, in his will, left the cello to me and to my sister. He left no instructions. He was unable to confront the sale of the cello, and he preferred to let us figure it out so that he could have it till the very last day of his life. Im in boston to understand how elena and her family deal with their strange inheritance. Elena does her homework and decides to sell the strad through Chris Reuning from reuning son. Chris is a rareinstrument dealer. Hes also a cellist and a luthier, someone who makes or repairs stringed instruments. How do you decide what bernards stradivarius is worth . Well, i think the first thing, you have to evaluate the quality. And then it also helps to know what the market history has been. So, in the case of this cello, we did know what other stradivari cellos had sold for. And we could compare the quality of this one to those. Back in 2002, a similar cello sold for 5 million. But over the past several years, collectors have driven the price of rare instruments way up, and each one has its own history a unique story thats a big factor in whether it fetches a 6, 7, or even 8figure price at auction. Nobody knows this cellos story better than elenas husband, nicholas delbanco. A novelist by trade, delbanco actually wrote an entire book about the instrument. Its called the countess of stanlein restored, and it describes the painstaking restoration his fatherinlaw commissioned for the countess back in the 1990s. The wear and tear on such instruments is very high. Aside from all the physical stress, theres chan climate, change in temperature, change in humidity. And at a certain point, the cello was almost as weary as he. Nicholas book details a harrowing process. The cello was popped open with a knife and sat in pieces for months while some of its wood was patched. Bernie got more and more restless and more and more ready to have his hearts darling returned. He said, then, i will never let it go again, and he never did. But he did play the strad for more than another decade, and he let his students play it, too. In the last years of his life, bernard remained so attached to the cello that he slept with it. Chris reuning believes every serious bidder will demand proof that the countess has no significant hidden flaws. In this case, we actually did a c. T. Scan of the cello. Like a doctor does. Yes. Is that unusual . We dont do it very often, but in this case there were some questions, if there was a crack. Chris reuning called me one day here at the shop and said, john, ive got this cello that i need c. T. Scanned right away. Chris flies with the strad to a hospital in minnesota, where experts are ready to diagnose the patient. The worry . Vast sums could be wiped from this multimilliondollar sale if the countess has damage from cracks or, worse, wormholes made inside the cello by tiny larvae. Would that equate to thousands of dollars, hundreds of thousands of dollars . Another quiz question. The answer in a moment. When you think what does it look like . Is it becoming a better professor by being a more adventurous student . Is it one day giving your daughter the opportunity she deserves . Is it finally witnessing all the artistic wonders of the Natural World . Whatever your definition of success is, helping you pursue it, is ours. Tiaa. Type 2 diabetes doesnt care who you are. Man. Woman. Or where youre from. City. Country. Were just everyday people fighting high blood sugar. I am everyday people, yea, yea. Farxiga may help in that fight every day. Along with diet and exercise, farxiga helps lower blood sugar in adults with type 2 diabetes. One pill a day helps lower your a1c. And, although its not a weightloss or bloodpressure drug, farxiga may help you lose weight and may even lower systolic Blood Pressure when used with metformin. Do not take if allergic to farxiga or its ingredients. Symptoms of a serious allergic reaction include rash, swelling, or difficulty breathing or swallowing. If you have any of these symptoms stop taking farxiga and seek medical help right away. Do not take farxiga if you have severe kidney problems, are on dialysis, or have bladder cancer. Tell your doctor right away if you have blood or red color in your urine or pain while you urinate. Farxiga can cause serious side effects, including dehydration, genital yeast infections in women and men, serious urinary tract infections, low blood sugar and kidney problems. Stop taking farxiga and call your doctor right away if you have signs of ketoacidosis, which can be serious or life threatening. Farxiga. We are everyday people. I am everyday people, yea, yea. Ask your doctor if farxiga is right for you and visit farxiga. Com to learn how you can get it for free. In the fall of 2011, the heirs of Bernard Greenhouse anxiously await the results of a c. T. Scan not on a person, but on a 300yearold stradivari cello, known as the countess of stanlein. Millions of dollars are at stake. Radiologist steven sirr performed a scan just like this one. The diseases that affect the old cellos, theyre usually caused by two things. One is cracks. The other abnormality is wormholes carved by larvae, which eat the channels of wood until sometimes theres hardly any original wood left. The c. T. Scanner produces xrays, which are highenergy light beams and very thin sheets. This is the actual c. T. Scan of the stradivarius. Chris shares with me his bottom line. This cello has been in constant use since 1800. And its always been a players instrument. So, its been cared for beautifully. But there are cracks. Whatever tiny cracks there might be, they dont affect the cellos unique sound. Chris is able to set the official opening bid for Bernard Greenhouses stradivari cello at a cool 6. 2 million. Theres just one hitch. The delbancos might not accept the highest bid if its from such rich investor who just wants to lock the countess away in a vault. A cello is only half, perhaps not even half, itself if unheard. It had been his expressed desire and conviction that it be played. And you made a decision that the strad was better in the hands of someone who could play it than on the shelf of someone who would pay more for it . Well, potentially pay more for it, but we just didnt want it on a shelf. So, the idea was that they would be able to open the bids, look at all the factors the price, whos buying it and choose one of those bids. Chris agrees to this unusual condition. Its not every day you get to sell a 300yearold stradivarius. So, off he goes with the countess on a World Marketing tour. All the cellists that i showed it to were completely shocked about the sound. All of them said it was the best cello theyd ever played. I had to wonder. Is the sound of a strad really so divine . After all, researchers recently blindfolded professional musicians and had them play violins, mixing historic strads with top new ones. Most said they preferred the sound of modern instruments. So, i asked boston Symphony Orchestra cellist Mihail Jojatu to play two cellos for me, one modern and one from the 18th century, and not tell me which was which. Can you play each one to see if somebody who doesnt know as much as you do can tell the difference . Sure. My pleasure. You listen, too. What do you think . [ playing midtempo Classical Music ] that was spectacular. So, to me, that sounds as good as it gets. Lets try this one. I have to say that the sound sounded to me richer, deeper. You have a good ear. Really . Im shocked. Yes, this is a goodquality, modern cello. Its a couple years old. And this is mihails cello. This was made in what year . In 1780. I had one more request. If i were a student of yours, could you teach me to play one note . Sure. Chris, would you let me . I suppose, yes. You suppose . I sense hesitation. No, i trust you. [ cello screeching ] am i hurting the value of this cello . Yes. [ laughing ] im sorry i better stop. Returning to the tale of the countess of stanlein, it isnt long before sealed bids start coming in. In boston, chris sits down with the delbancos to open them and pick a buyer. What was the emotion in the room when you open the first bid for elena and nicholas to look at . You know, there was not a dry eye in the room because this cello was so much part of their life and signified her relationship to her father. Saying goodbye to the countess of stanlein were more painful than i expected it to be. We all sat down in a little Seating Group in his office, and we put the cello as part of the Seating Group, and i began to feel more and more upset, and we just closed the case. And ive never seen it again. In the end, the greenhouse heirs accept a bid they feel they cannot refuse. It comes not from a cello virtuoso but from a foreign billionaire. But thats one last twist to this story when we return on strange inheritance. He has a sharp wit. A winning smile. And no chance of getting an athletic scholarship. And that is why you invest. The best returns arent just measured in dollars. Eight months after virtuoso cellist Bernard Greenhouse dies, his heirs accept a secret bid on their stradivari cello. The price . All the auctioneer will say is that its significantly higher than the 6. 2 million opening bid. Whats significantly higher than 6. 2 million . Yeah, the reason im not disclosing the price is out of respect to the buyer. A fair bid to me is 15 to 20 higher. Significantly higher is 50 higher. Is it between 15 and 50 . Good try. [ chuckles ] okay, so i tried. And the delbancos are keeping it a secret, too. But in the end were they able to honor greenhouses wish, that the countess be played and not shut away in a vault or museum . The buyer, it turns out, is a canadian billionaire, jacqueline desmarais. She decides to permanently loan the countess to a 20yearold canadian virtuoso named stephane tetreault. Ive known about Bernard Greenhouse for years. Hes a huge figure in music history. To have the chance to even touch his cello was just an honor. After the auction, the delbancos never intended to see the countess again. Welcome. Thank you. Welcome. But then, we offered them a chance to meet stephane for the first time, at the Carriage House recital hall near boston. [ playing midtempo Classical Music ] as i listen, i cant help but think that if stephane performs as long as greenhouse did, the countess of stanlein will be heard for many decades to come. That was lovely. Bravo. So good to hear you play. What a pleasure to meet both of you. And you. Really. Really. That was very beautiful. I was quite nervous, actually. What a great pleasure. Pleasure. Let me just. Oh, there she is. So, in this tale of music and money, the delbancos seem satisfied that they have found a way to split the difference. More money might have made a difference in your life. How do you walk away from that . Theres never enough if you think in those terms. An extra million or six would hardly have mattered. I think it was a very special strad, and i think were really happy with the outcome. Before we go, i want to share this last thought. You know, years ago, back in the old days, Bernard Greenhouse and the trio could count on a break from the airlines when they had to fly the cello, allowing bernard to buy a childs ticket at halfprice. Well, once at the airport, a ticket agent called mr. Greenhouse over after seeing the name cello on the ticket and said, mr. Greenhouse, how old is your son, cello . To which bernard laughed, winked, and responded, 250 years old. Im jamie colby. Thanks so much for joining us on strange inheritance. And dont forget. You cant take it with you. Do you have a strange inheritance story youd like to share with us . Wed love to hear it. L or go tor website, strangeinheritance. Com. Theyre cars you never heard of. He liked to buy unique cars kissels, grahams, overlands. He always used to say, i dont want to meet myself on the road. Its a great hobby. Keeps you out of the beer joints. Do you have your foot on the brake, teacher . Just in case . I havent jumped out yet. These heirs hit a fork in the road. So that is a point of contention. Do you donate cars here . Do you have an auction . Its really tough to get every sibling on the same page. Yeah, id say were no different. Until they hear an emotional voice from the past. When we go by his gravesite, hes probably on high spin mode up there. Its just money. Cant take it with you. Im jamie colby, and today im cruising through boone county, iowa, smack dab in the middle of corn country. Im here to meet the heirs of a man who left behind dozens and dozens of orphans. Orphan cars, that is. So, whats an orphan car . Youre about to find out. My name is jerry quam. My father, grant quam, liked to collect orphan cars, which are cars that were manufactured by companies that are no longer in existence today. Many of these are rare cars of which theres only a few known to exist. I meet up with jerry and his brother john at this modern, climatecontrolled barn. Whats in the barn . You got tractors, you got horses . Something better. Better than that . Youre gonna love this. Whoa. I am in heaven. Did you know i love cars . Ive heard a rumor. This is an incredible collection. You inherited this . Our fathers collection. I imagine theres a great story behind these cars. Each and every one. These car stories begin right up the road in roland, iowa, where john and jerrys father, grant quam, grew up in the 1920s. Why was your dad so passionate about cars . He grew up on a farm and they were pretty poor, but hed see people coming into town driving around in these fine cars, and that got him excited about it. While grant may not be able to afford these fancy cars, he sure can fix em up. He had a real knack for fixing things. He was just fascinated with machinery and cars. Soon enough, the budding mechanic is running a little repair operation out of the farm corncrib. And when hes a teen, grant finally figures out a way to buy his first car using his school lunch money. So cars were more important than food. Thats probably true. When the Bernard Greenhouse<\/a>, who died in 2011 at the age of 95. [ Classical Music<\/a> plays ] greenhouse spent most of his career playing with the renowned beaux arts trio, which made its debut in 1955 and catapulted to fame. He was very warm and very charming but very involved with his work. And he traveled all the time as he became more and more successful. As one of the worlds premier cellists, bernard figured he should be playing one of the worlds finest cellos. He began searching in europe for an instrument equal to his talent. He went to dealers and to instrument shops, and wherever he went, he said, have you heard any rumors about great cellos . In 1957, he found one in the west german city of aachen. Your father came home with something he longed for, searched for. I was very young. But i knew that he had found something very important. Very important, indeed. It was a stradivarius, crafted in italy around 1707 by the master of them all, antonio stradivari. It even has its own aristocratic title, the countess of stanlein. Sound expensive . It was. It was a huge sum of money for us, for our family. And it made a huge difference in our lives to pay it off over many years. Dealers estimate bernard paid around 100,000, an astronomical sum in the late 1950s, when the average American House<\/a> sold for 18,000. But for greenhouse, the instrument became a part of him. He called it every superlative you could call it his love, his treasure, his heart, his voice. At the height of his career, greenhouse performed nearly 200 times a year. I always wanted to hop in the cello case and travel with my father wherever he was going. When greenhouse wasnt in concert, he taught at the Manhattan School<\/a> of music, juilliard, and here at home, in his cape cod studio. This is where elena also played the cello as a child. You sometimes put your name in his appointment book to try to get time with him in lieu of a lesson, erasing the name of a student that was actually coming. I didnt do that to get a cello lesson. I did that to get an hour of his time. Did you ever play the strad . No, never. Why . I never played well enough to play the strad. By whose opinion . I guess by my fathers, but i never wanted to. Can i hear him play . I would love it. [ midtempo Classical Music<\/a> plays ] having the music is wonderful. Its hard but wonderful. [ music continues ] isnt it beautiful . Wow haunting. Whats the first thing you do when you have to decide whether to keep or sell the family jewel . I think the first question you ask yourself is, do you have any use for or love for the family jewel . And then, i think a big part of it also is, can you afford to keep the family jewel . The financial implications of this strange inheritance worry elena and her husband, nicholas, who are both College Professors<\/a> nearing retirement. What would it have entailed to keep the strad . Insurance . Storage . Coming up, of course, with the taxes that the government wants. Did you hear from them . No, no, they just said, let those people keep their inheritance. [ laughs ] we have so many other people. Yes, of course. So, does that weigh in to whether you have to sell something, the fact that you have to pay taxes . Absolutely. So, what should elenas family do . They decide its too expensive to keep the strad. Theyre keenly aware that a successful auction could yield millions quite a nice nest egg in retirement. But selling a 300yearold stradivarius is no small undertaking. Its a cutthroat world in the world of musical instruments. We came to understand all kinds of things that could go wrong. Thats next. But first, our strange inheritance quiz question. The answer when we return. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. When master cellist Bernard Greenhouse<\/a> dies at the age of 95, his heirs face a quandary what to do with his beloved stradivarius, worth millions of dollars. My father, in his will, left the cello to me and to my sister. He left no instructions. He was unable to confront the sale of the cello, and he preferred to let us figure it out so that he could have it till the very last day of his life. Im in boston to understand how elena and her family deal with their strange inheritance. Elena does her homework and decides to sell the strad through Chris Reuning<\/a> from reuning son. Chris is a rareinstrument dealer. Hes also a cellist and a luthier, someone who makes or repairs stringed instruments. How do you decide what bernards stradivarius is worth . Well, i think the first thing, you have to evaluate the quality. And then it also helps to know what the market history has been. So, in the case of this cello, we did know what other stradivari cellos had sold for. And we could compare the quality of this one to those. Back in 2002, a similar cello sold for 5 million. But over the past several years, collectors have driven the price of rare instruments way up, and each one has its own history a unique story thats a big factor in whether it fetches a 6, 7, or even 8figure price at auction. Nobody knows this cellos story better than elenas husband, nicholas delbanco. A novelist by trade, delbanco actually wrote an entire book about the instrument. Its called the countess of stanlein restored, and it describes the painstaking restoration his fatherinlaw commissioned for the countess back in the 1990s. The wear and tear on such instruments is very high. Aside from all the physical stress, theres chan climate, change in temperature, change in humidity. And at a certain point, the cello was almost as weary as he. Nicholas book details a harrowing process. The cello was popped open with a knife and sat in pieces for months while some of its wood was patched. Bernie got more and more restless and more and more ready to have his hearts darling returned. He said, then, i will never let it go again, and he never did. But he did play the strad for more than another decade, and he let his students play it, too. In the last years of his life, bernard remained so attached to the cello that he slept with it. Chris reuning believes every serious bidder will demand proof that the countess has no significant hidden flaws. In this case, we actually did a c. T. Scan of the cello. Like a doctor does. Yes. Is that unusual . We dont do it very often, but in this case there were some questions, if there was a crack. Chris reuning called me one day here at the shop and said, john, ive got this cello that i need c. T. Scanned right away. Chris flies with the strad to a hospital in minnesota, where experts are ready to diagnose the patient. The worry . Vast sums could be wiped from this multimilliondollar sale if the countess has damage from cracks or, worse, wormholes made inside the cello by tiny larvae. Would that equate to thousands of dollars, hundreds of thousands of dollars . Another quiz question. The answer in a moment. When you think what does it look like . Is it becoming a better professor by being a more adventurous student . Is it one day giving your daughter the opportunity she deserves . Is it finally witnessing all the artistic wonders of the Natural World<\/a> . Whatever your definition of success is, helping you pursue it, is ours. Tiaa. Type 2 diabetes doesnt care who you are. Man. Woman. Or where youre from. City. Country. Were just everyday people fighting high blood sugar. I am everyday people, yea, yea. Farxiga may help in that fight every day. Along with diet and exercise, farxiga helps lower blood sugar in adults with type 2 diabetes. One pill a day helps lower your a1c. And, although its not a weightloss or bloodpressure drug, farxiga may help you lose weight and may even lower systolic Blood Pressure<\/a> when used with metformin. Do not take if allergic to farxiga or its ingredients. Symptoms of a serious allergic reaction include rash, swelling, or difficulty breathing or swallowing. If you have any of these symptoms stop taking farxiga and seek medical help right away. Do not take farxiga if you have severe kidney problems, are on dialysis, or have bladder cancer. Tell your doctor right away if you have blood or red color in your urine or pain while you urinate. Farxiga can cause serious side effects, including dehydration, genital yeast infections in women and men, serious urinary tract infections, low blood sugar and kidney problems. Stop taking farxiga and call your doctor right away if you have signs of ketoacidosis, which can be serious or life threatening. Farxiga. We are everyday people. I am everyday people, yea, yea. Ask your doctor if farxiga is right for you and visit farxiga. Com to learn how you can get it for free. In the fall of 2011, the heirs of Bernard Greenhouse<\/a> anxiously await the results of a c. T. Scan not on a person, but on a 300yearold stradivari cello, known as the countess of stanlein. Millions of dollars are at stake. Radiologist steven sirr performed a scan just like this one. The diseases that affect the old cellos, theyre usually caused by two things. One is cracks. The other abnormality is wormholes carved by larvae, which eat the channels of wood until sometimes theres hardly any original wood left. The c. T. Scanner produces xrays, which are highenergy light beams and very thin sheets. This is the actual c. T. Scan of the stradivarius. Chris shares with me his bottom line. This cello has been in constant use since 1800. And its always been a players instrument. So, its been cared for beautifully. But there are cracks. Whatever tiny cracks there might be, they dont affect the cellos unique sound. Chris is able to set the official opening bid for Bernard Greenhouse<\/a>s stradivari cello at a cool 6. 2 million. Theres just one hitch. The delbancos might not accept the highest bid if its from such rich investor who just wants to lock the countess away in a vault. A cello is only half, perhaps not even half, itself if unheard. It had been his expressed desire and conviction that it be played. And you made a decision that the strad was better in the hands of someone who could play it than on the shelf of someone who would pay more for it . Well, potentially pay more for it, but we just didnt want it on a shelf. So, the idea was that they would be able to open the bids, look at all the factors the price, whos buying it and choose one of those bids. Chris agrees to this unusual condition. Its not every day you get to sell a 300yearold stradivarius. So, off he goes with the countess on a World Marketing<\/a> tour. All the cellists that i showed it to were completely shocked about the sound. All of them said it was the best cello theyd ever played. I had to wonder. Is the sound of a strad really so divine . After all, researchers recently blindfolded professional musicians and had them play violins, mixing historic strads with top new ones. Most said they preferred the sound of modern instruments. So, i asked boston Symphony Orchestra<\/a> cellist Mihail Jojatu<\/a> to play two cellos for me, one modern and one from the 18th century, and not tell me which was which. Can you play each one to see if somebody who doesnt know as much as you do can tell the difference . Sure. My pleasure. You listen, too. What do you think . [ playing midtempo Classical Music<\/a> ] that was spectacular. So, to me, that sounds as good as it gets. Lets try this one. I have to say that the sound sounded to me richer, deeper. You have a good ear. Really . Im shocked. Yes, this is a goodquality, modern cello. Its a couple years old. And this is mihails cello. This was made in what year . In 1780. I had one more request. If i were a student of yours, could you teach me to play one note . Sure. Chris, would you let me . I suppose, yes. You suppose . I sense hesitation. No, i trust you. [ cello screeching ] am i hurting the value of this cello . Yes. [ laughing ] im sorry i better stop. Returning to the tale of the countess of stanlein, it isnt long before sealed bids start coming in. In boston, chris sits down with the delbancos to open them and pick a buyer. What was the emotion in the room when you open the first bid for elena and nicholas to look at . You know, there was not a dry eye in the room because this cello was so much part of their life and signified her relationship to her father. Saying goodbye to the countess of stanlein were more painful than i expected it to be. We all sat down in a little Seating Group<\/a> in his office, and we put the cello as part of the Seating Group<\/a>, and i began to feel more and more upset, and we just closed the case. And ive never seen it again. In the end, the greenhouse heirs accept a bid they feel they cannot refuse. It comes not from a cello virtuoso but from a foreign billionaire. But thats one last twist to this story when we return on strange inheritance. He has a sharp wit. A winning smile. And no chance of getting an athletic scholarship. And that is why you invest. The best returns arent just measured in dollars. Eight months after virtuoso cellist Bernard Greenhouse<\/a> dies, his heirs accept a secret bid on their stradivari cello. The price . All the auctioneer will say is that its significantly higher than the 6. 2 million opening bid. Whats significantly higher than 6. 2 million . Yeah, the reason im not disclosing the price is out of respect to the buyer. A fair bid to me is 15 to 20 higher. Significantly higher is 50 higher. Is it between 15 and 50 . Good try. [ chuckles ] okay, so i tried. And the delbancos are keeping it a secret, too. But in the end were they able to honor greenhouses wish, that the countess be played and not shut away in a vault or museum . The buyer, it turns out, is a canadian billionaire, jacqueline desmarais. She decides to permanently loan the countess to a 20yearold canadian virtuoso named stephane tetreault. Ive known about Bernard Greenhouse<\/a> for years. Hes a huge figure in music history. To have the chance to even touch his cello was just an honor. After the auction, the delbancos never intended to see the countess again. Welcome. Thank you. Welcome. But then, we offered them a chance to meet stephane for the first time, at the Carriage House<\/a> recital hall near boston. [ playing midtempo Classical Music<\/a> ] as i listen, i cant help but think that if stephane performs as long as greenhouse did, the countess of stanlein will be heard for many decades to come. That was lovely. Bravo. So good to hear you play. What a pleasure to meet both of you. And you. Really. Really. That was very beautiful. I was quite nervous, actually. What a great pleasure. Pleasure. Let me just. Oh, there she is. So, in this tale of music and money, the delbancos seem satisfied that they have found a way to split the difference. More money might have made a difference in your life. How do you walk away from that . Theres never enough if you think in those terms. An extra million or six would hardly have mattered. I think it was a very special strad, and i think were really happy with the outcome. Before we go, i want to share this last thought. You know, years ago, back in the old days, Bernard Greenhouse<\/a> and the trio could count on a break from the airlines when they had to fly the cello, allowing bernard to buy a childs ticket at halfprice. Well, once at the airport, a ticket agent called mr. Greenhouse over after seeing the name cello on the ticket and said, mr. Greenhouse, how old is your son, cello . To which bernard laughed, winked, and responded, 250 years old. Im jamie colby. Thanks so much for joining us on strange inheritance. And dont forget. You cant take it with you. Do you have a strange inheritance story youd like to share with us . Wed love to hear it. L or go tor website, strangeinheritance. Com. Theyre cars you never heard of. He liked to buy unique cars kissels, grahams, overlands. He always used to say, i dont want to meet myself on the road. Its a great hobby. Keeps you out of the beer joints. Do you have your foot on the brake, teacher . Just in case . I havent jumped out yet. These heirs hit a fork in the road. So that is a point of contention. Do you donate cars here . Do you have an auction . Its really tough to get every sibling on the same page. Yeah, id say were no different. Until they hear an emotional voice from the past. When we go by his gravesite, hes probably on high spin mode up there. Its just money. Cant take it with you. Im jamie colby, and today im cruising through boone county, iowa, smack dab in the middle of corn country. Im here to meet the heirs of a man who left behind dozens and dozens of orphans. Orphan cars, that is. So, whats an orphan car . Youre about to find out. My name is jerry quam. My father, grant quam, liked to collect orphan cars, which are cars that were manufactured by companies that are no longer in existence today. Many of these are rare cars of which theres only a few known to exist. I meet up with jerry and his brother john at this modern, climatecontrolled barn. Whats in the barn . You got tractors, you got horses . Something better. Better than that . Youre gonna love this. Whoa. I am in heaven. Did you know i love cars . Ive heard a rumor. This is an incredible collection. You inherited this . Our fathers collection. I imagine theres a great story behind these cars. Each and every one. These car stories begin right up the road in roland, iowa, where john and jerrys father, grant quam, grew up in the 1920s. Why was your dad so passionate about cars . He grew up on a farm and they were pretty poor, but hed see people coming into town driving around in these fine cars, and that got him excited about it. While grant may not be able to afford these fancy cars, he sure can fix em up. He had a real knack for fixing things. He was just fascinated with machinery and cars. Soon enough, the budding mechanic is running a little repair operation out of the farm corncrib. And when hes a teen, grant finally figures out a way to buy his first car using his school lunch money. So cars were more important than food. Thats probably true. When the Great Depression<\/a> hits, it devastates farm country and grants family. His father they lost the farm and stuff. You know, when he left home, everything he owned was in a shoebox. At the same time, hundreds of Car Manufacturers<\/a> are losing it all, too. In the early 1900s, nearly 1,800 companies are in the carmaking game. And as late as 1925, some 237 remain. But the depression wipes out a great many of those, with some Luxury Brands<\/a> hanging on only to collapse after world war ii. Cars like the piercearrow, peerless, and packard, you dont hear of any of those today. Theyre all gone. So an orphan car is a car with no parents. Yeah, thats basically right. So when grant reaches his mid50s and starts seeing some realestate investments pay off, hes finally able to track down those orphan cars that fascinated him in his youth. Theres not a lot of fords or chevys. He liked to buy unique cars. He always used to say, i dont want to meet myself on the road. Grants not likely to meet himself on the road driving one of these. Not only are his cars from unique manufacturers, many of the particular models are extremely rare, too like this 1936 piercearrow roadster. Theres maybe fewer than five that are known to exist of that car. Im totally loving the paint. Is it also unique . The guy he bought it from liked butternut coffee, so he painted the car to look like the butternut coffee can. Grants 1925 kissel gold bug, made popular by amelia earhart, is just as rare. Can i get inside . Absolutely. Im gonna try to slide in. [ grunts ] wow. You had to be petite. Not so graceful. I could drive this. Now you guys know what i like, okay . Some of grants finds are so uncommon, they were thought to have vanished long ago. This is a 1934 plymouth phaeton. When he first bought this, a lot of plymouth people here in the u. S. Claimed that the car didnt exist. What . And they said that it was false advertising on the car. But finally, after some background checks, it turned out to be the real deal. And heres another rare phaeton, this one supposedly built at the 1934 worlds fair in chicago. Grants orphan cars even become the focus of segment on a local public tv program in 1999. Did you see the pbs clip when it aired . I did. It was a show that they were doing at the time in iowa that was about people had unique collections. In 2007, grant passes away at the age of 91. Was he specific with you, jerry, and your family about what he wanted you to do with the cars . He never really approached it when we were alive. He never really talked about that. Do you wish he was more specific . Yeah, in some ways it would have been better. Six years later, when their mom, betty, dies, grants four children now orphans themselves still havent settled on a plan for their strange inheritance. So that is a point of contention. Do you donate cars here . Do you have an auction . Every family has their differences. Some want to do this, some want to do that. The oldest sibling, john, wants to keep the collection intact. The youngest, jerry, whos gone into collecting, leans that way, too. But the other two siblings, jim and marilyn, dont have the same emotional connection to the cars and would just as soon sell them. Were all pretty independent people. Thats hard. Absolutely, its hard. And it wont be getting any easier because while grant had plenty of beauties like these, he left behind even more like this. I thought, oh, my gosh, what have i gotten myself into this time . This was like entering a crime scene almost. A crime scene . well walk it, next. But first. The answer when we return. When it comes to Small Business<\/a>, shes in the know. So strap yourselves in for action flo Small Business<\/a> edition. Oh, no im up to my neck in operating costs ill save the day for plumbers and bakers and scapers of lawn, shes got insurance savvy you can count on. You chipped my birdbath now youre gonna pay not so fast i cover more than just cars and trucks. Action flo did somebody say insurance . Children flo action flo cut can i get a smoothie, please . Ooh they got smoothies . For me. There never was an airmobile. Owegos were produced in owego, new york, american chocolates in a chocolate factory, and a car without a name thought owners might prefer to title their models themselves. Grant quams passion was tracking down orphans rare and unusual cars from nowdefunct automakers. Can you rattle off for me some of the rarer cars in the collection . 1925 kissel gold bug. 1911 and a 1913 overland. 1913 studebaker. Piercearrows, grahams. He gathers over 80 unique models, such as this 1920 peerless roadster. It was one of the most original cars hes ever bought. It still has the original radiator hoses. Theyre white because that was the natural color of rubber, and they started to color rubber black later on. After grants death in 2007, his heirs are torn about what to do with their fathers unique car pool. Do they sell . Keep . Donate . You know, i find, with inheritances, its really tough to get every sibling on the same page. Yeah, id say were no different. But before any decisions can be made, the family needs to know what the cars are worth. For that, they bring in appraiser jim mcdonald from des moines. He learns grants hoard of automobiles is spread out among three locations, and not every car looks shiny and new. This machine shed is jampacked with grants junkers, barn finds, and project cars. When i first walked into it, i thought, oh, my gosh, what have i gotten myself into this time . This was like entering a crime scene almost. A lot of these cars had been sitting for 10, 15, 20 years. This looks like it was last driven in 1956. These cars are worth a little, maybe a thousand more if they get fixed up. A second building holds about 15 midtierquality cars. Jim puts these in the fivefigure range. But the real money is in the final storage area, what grant called his inner sanctum. This had his piercearrow, it had his auburn, it had his kissel. It had all the better cars. Jim photographs and grades each one, including this exceptionally rare model, a 1922 Detroit Electric<\/a>. Electric cars were very much favored by women in the early days of cars. They were popular because women werent able to crank the cars and get them started. Im in this is the steering wheel. Really . Well, kind of. This is like a tiller on a boat. Okay. So if you want to go this direction, you push that way, if you want to go that direction, you pull back here. Okay, i got it. Then, this is your speed. Here is the brake that works sometimes. Sometimes, john . Ready to go . Yes. Lets do it. The engine turns on with a simple flip of the switch. The first click, and there you go. Oh yikes. There you go. Oh, slow it down, slow it down, slow it down. Pull this back. Im an excellent driver. Im an excellent driver. This is like drivers ed. Do you have your foot on the brake, teacher . Just in case . I havent jumped out yet. Going straight is one thing, but now the real challenge turning the turns are not so easy. No. Youd do well back in that time period. Youd be the, uh, envy of the neighborhood. Whoohoo howd i do . Excellent. Yay better than me. Sold. Including that Detroit Electric<\/a>, the appraiser arrives at a total value for the collection of over one million dollars. A nice chunk of change, but even that doesnt shift grants heirs out of neutral. The siblings need something more to finally settle the dispute on how to handle their fathers cars. Thats when they receive a message, almost from beyond the grave. Thats next. Heres another quiz question for you. The answer when we return. When you think what does it look like . Is it becoming a better professor by being a more adventurous student . Is it one day giving your daughter the opportunity she deserves . Is it finally witnessing all the artistic wonders of the Natural World<\/a> . Whatever your definition of success is, helping you pursue it, is ours. Tiaa. He committed the first speeding infraction in the u. S. , winding up in jail for driving a breakneck 12 Miles Per Hour<\/a> down lexington avenue, four over the limit. Grant quams four children cant agree on what to do with their strange inheritance 80 socalled orphan cars potentially worth over a million dollars. Jim and marilyn think its time to sell, but jerry and john would like to see the collection kept together. Ive had a chance to experience most every car here. Spent a lot of time in these. Ive driven most of them through the years. Its two against two. Somethings got to give. How do they decide . They go to the videotape. Remember that localtv piece featuring grant all those years ago . Turns out a crucial part of grants interview was never broadcast. It was like a 15minute segment, but later they offered up the entire raw footage of the shoot. They pop the cuttingroomfloor footage in the vcr. During the unedited, hourlong interview, grant is asked about many topics that never reach air, including the future of his cherished autos. Listen. [ laughs ] their fathers words end the debate the siblings will auction off the cars. Now, for me personally, um, that was probably a harder pill to swallow. Did you fight it . No. Theres a time when things, whether you like it or not, need to happen. My ideal thing would have been not to have sold the cars, but that that wasnt gonna work. Soon after, the family hires auctioneer Yvette Vanderbrink<\/a> to handle the sale of their dads collection. My First Impression<\/a> was, wow, this is really a lot of automotive history. Yvette immediately puts the family to work. She wants as many of the vehicles as possible up and running by the auction. So here we are at the farm. This gives you an idea of what were up against. How much work went into getting them ready for auction . Its overwhelming to deal with. You got to get the mechanics up working on em, you got to get the detail people to come up. Its a long process. Despite the challenge, the family brings many back to life. And as the auction nears, the reality of saying goodbye to dads cars begins to sink in. This is a piece of dad. Its very personal to your father. Yeah. But he always used to say theres time slots in life, right, for different things. And, uh, anyway, this time slot is over, right, so its time to sell em and and move on. Of course theres no telling what grants unusually rare models might sell for. How do you set a price on some of these . That is the hard part. How do you find a comp for a 36 pierce when theres never been one sold and theres only five made . What do you expect . Its really, really hard to know, because as my dad used to say, an auction, you need two buyers that want the car, three is better. Up next which of grants orphans find a good home. At 40, 40, 40. Now 5. And which ones do not. Whats your strange inheritance story . Wed love to tell it. Send me an email or go to our website strangeinheritance. Com. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. Every year, the amount of data your enterprise uses goes up. Smart devices are up. Cloud is up. Analytics is up. Seems like everything is up except your budget. 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They were born online, and built to save money, which means when they save, you save. Thats auto and Home Insurance<\/a> for the modern world. Esurance. Backed by allstate. Click or call. Now back to strange inheritance. In september 2015, the heirs of grant quam are auctioning off their fathers treasured fleet of orphan cars. You think youre doing this auction to his satisfaction . Well, thats a good, good question. We always tease that, uh, when we go by his gravesite, hes probably on high spin mode. The biggest concern whether the right buyers will make the trek to smalltown iowa for these exceedingly rare models. Its been a long adventure, nine months of getting ready. So were kind of anxious to see how this all goes today. At 37, now 8. At 38, at 8, at 8. Auctioneer Yvette Vanderbrink<\/a> kicks things off with the heavy hitters. Were gonna start with the better cars and sell them right off the bat, and the reason why i like to do that is, everybody has money and comes to the sale. Everybody wants to take the prom queen. But some of those prom queens arent going anywhere without the right bid. This is a 1936 piercearrow. This also is being sold subject to confirmation. This will be the car that tells the tale on the auction. There were some serious players here yesterday looking at it, so well see what happens. At 35, at 5, at 5. At 35. Where are you gonna find one . Its one of five, guys. But today, that right buyer doesnt show up. Okay, folks, that has not met the reserve. If you are interested, come talk to us. Grants 1925 kissel gold bug also fails to hit the minimum bid. You have to have the right people here, and you never know. We dont want to give the cars away. After that distressing start, they learn they wont have to. The auction picks up speed with the 34 phaeton, said to have been built at the chicago worlds fair. At 45,000. At 45, 5, 5. At 40,000, lets go. You have to step up your game there. At 51, 1, 1, at 1. At 51,000. Its just money. Cant take it with you. Sold at 53,000. [ applause ] soon after, someone steers away with that Detroit Electric<\/a> i drove for 48 grand. [ calling ] and the auction just keeps rolling. Grants 34 plymouth goes for 45k. His 37 lasalle brings in another 48. A 36 graham fetches 28k, while this 1913 studebaker sells for 25,000. So far its looking looking okay now up for bid grants 1920 peerless roadster. 60, 60, 60, at 60. At 60,000. Now 5. At 65, 5, 5. At 65. Now 90. At 90, 90, 90. At 90, at 90,000. Now 5. At 95, 5, 5. At 95,000. 1, 1, at 1. At 101. 101,5. Sold at 101,000. That was surprising because it takes a very special buyer to buy that car. By the end of the day, the family hauls in over 700,000 bucks. And with those two bigvalue cars still left to sell privately in the future, the family believes theyll break the milliondollar mark. Its a bittersweet thing. I mean, as i started seeing cars going out of here, its kind of reality. But it feels good to see people that love them, and theyll take care of them. And isnt that what adopting an orphan is all about . Jerrys sure hes done right by his dad, getting his babies into good hands. His time slot is over. Its time for another custodian to take ownership and enjoy the car, because sitting inside in a dark Building Made<\/a> no sense. They should be out and enjoyed. So were happy to see that, and he would have too. Before the auction, jerry quam purchased a few cars from his fathers collection. He didnt pick the ones that were the most valuable or rare. In fact, the cars didnt even mesh with his personal car collection. The vehicles simply reminded jerry most of his father. So even after his children have to bid farewell to their dads precious cars, a part of grants legacy will live on and stay in the family. Im jamie colby for strange inheritance. Thanks so much for watching. And remember. Its just money. Cant take it with you. Announcer the following program is a paid advertisement for the dashcam pro, brought to you by inventeproducts, llc. Yep, theyre out there, driving recklessly, causing accidents, and driving up your insurance rates. Now protect yourself and capture it all in full highdefinition video with dashcam pro, your personal portable security camera. Today, were going to hear from people who have been in accidents and used the dashcam pro to prove their case. Learn from essex county Sergeant Arnold<\/a> bernard, a lawenforcement expert, to hear the secret to protecting yourself from tickets and lawsuits. You will find out why he calls the dashcam pro the most significant advancement in dashcam technology and why everyone should own one. Were also going to visit a car show to check out some really cool rides and discover how their owners protect their cars","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia801304.us.archive.org\/1\/items\/FBC_20160309_050000_Kennedy\/FBC_20160309_050000_Kennedy.thumbs\/FBC_20160309_050000_Kennedy_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240624T12:35:10+00:00"}