AUCTION OFFERS SHARES OF SONGS BY AEROSMITH, BON JOVI, OZZY AND OTHERS:
September 11, 2008
SongVest, the company that is revitalizing the music memorabilia business by offering the ultimate fan collectable — the songs themselves — has announced their first major online auction. From October 4th through October 18th, 2008, the innovative SongVest platform presents the incredible 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, Carrie Underwood, Faith Hill, The Monkees, and more. 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 has created a new and viable venue for the trading of artists’ intellectual and commercial property — their song rights and multiple associated royalty streams. Songwriters 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 retain control of usage.
With ownership of their favorite songs, fans can now be connected to their heroes in unparalleled ways. 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; and 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.
Courtesy of www.songvest.com