New Jersey Symphony sells the “Golden Age” String Collection
A long, bizarre journey is now in the distant past for the New Jersey Symphony. According to a news release that came out on Nov. 23, the NJSO finally sold its instrument collection which was named the “Golden Age”. To read the official press release from the NJSO click here.
There has been so many ups and downs to this situation that it is difficult to know where to start. A plethora of scenarios have been flooding the classical music world since the orchestra purchased the collection back in 2003. A whole series of unanticipated events ensued and it just went on from there. Instead of dwelling in the past, I would like to comment on the future benefits of the situation. The NJSO has recouped all of the money that has been spent during the tenure of owning the collection. This includes all the finance charges, interest fees and transaction costs. The orchestra also is going to play on 28 out of 30 of the instruments for the next 5 years. They are also a partner in the future appreciation of the collection. This leaves the organization with a balanced budget for the first time in a decade. Being the deficit-driven machines that modern day orchestras are, the loan was another liability that was a drain on the finances. Just like when a mistake is made in a concert, one needs to move on quickly and look ahead. What’s done is done. The famous makers of this collection include violins, violas and cellos from Stradivarius, Guarneri and Amati.
For more information about the New Jersey Symphony click here.
The New Jersey Symphony performs in the New Jersey Performing Arts Center. This is an amazing facility that includes two concert halls. For more information on NJPAC click here.
Add comment December 3rd, 2007
