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10 Jun, 2011

Joey Fatone sells furniture, dishes, sheets

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Joey Fatone, former member of *Nsync, is unloading the contents of his Orlando, Fla. home at an estate sale this weekend.

Joey Fatone estate sale features everything from his Brita water filter to his sheets.

NEW YORK (CNNMoney) — “I have too much shit,” is what Joey Fatone said when asked why he’s holding a massive estate sale this weekend.

The former member of *Nsync — one of the most famous boy bands of all time — is selling off the entire contents of his Orlando, Fla. home. But alas there’s no *Nsync memorabilia up for grabs.

The lakefront house itself is also for sale for $3.9 million. Fatone and his family are downsizing from 16,000 square feet to a smaller house in the Orlando area, according to his manager Joe Mulvihill. (More famous homes for sale)

When Fatone packed up his belongings, the contents of his house filled three semi-trucks, Mulvihill said, so Fatone organized a sale to unload many of their things. Many items have also been donated to local charities.

At the start of the sale on Thursday, over 700 people arrived, Mulvihill said. Items for sale range from a Brita water filter and used sheets to a $70,000 armoire. Also available are wine glasses, stuffed animals, arcade games and Christmas ornaments. One notable piece for sale is the sword of omens from the movie Thundercats.

Since *Nsync disbanded, Fatone has hosted NBC’s reality singing competition called “The Singing Bee,” and appeared as a contestant on ABC’s “Dancing With The Stars” among other projects.

He plans to be bi-coastal going forward, Mulvihill said, spitting his time between Florida and Los Angeles. To top of page

10 Jun, 2011

A Never-Ending Treasure Hunt

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The Stoic philosopher Seneca wrote that “luck is what happens when preparation meets opportunity.” For the habitually “lucky” antiques dealer at the heart of Maureen Stanton’s “Killer Stuff and Tons of Money,” preparation means cultivating a deep knowledge of objects—Shaker furniture, heirloom porcelain, 18th-century weathervanes—while opportunity results from meticulously examining tens of thousands of items every year at flea markets, auctions and antiques fairs. His sharp eyes spot unrecognized wonders amid a profusion of second-rate wares—much to the amazement of the author.

Ms. Stanton is an old college friend of the dealer—known throughout this narrative by the pseudonym “Curt Avery”—and he lets her tag along for several seasons as an unpaid assistant. A former high-school wrestler, Avery drifted through a series of odd jobs, including chem-lab technician, to follow a passion for treasure hunting. He began digging up old bottles in the woods and selling them to enthusiasts at fairs in the countryside and has spent nearly two decades buying, selling and occasionally regretting buying American antiques. Avery may prefer beat-up sneakers and baggy shorts to the usual professional apparel—he complains loudly when forced to wear a button-down shirt for an upscale Boston antiques show—but what he lacks in polish he makes up for in discernment.

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“What I’m learning from Avery is how much I don’t know,” Ms. Stanton writes early in the book. “The objects I pick up are usually fake, worthless, overpriced, or reproductions.” Her pose of hopeless ignorance lends an amusing if somewhat predictable structure to their interactions, as Avery brusquely provides instruction on the tricks of the trade, giving her—and the reader—an informal education in the world of antiques.

How can you spot modern plates and bowls masquerading as fine old china? Avery notes that originals develop characteristic wear patterns from being set on tables or stacked; fakes more often sport spurious “wear,” applied with sandpaper across the entire piece. How can you tell 17th-century Pilgrim furniture from 19th-century reproductions? The Pilgrims used hand-made nails—delicate, humble, irregular things, wrought on an anvil—while the nails on reproductions are almost always straight-cut items made by machine.

Ms. Stanton devotes an engaging chapter to the New England six-board blanket chest—an original American furniture type from the colonial era. The top, bottom and sides of European chests at the time were traditionally constructed of narrow boards joined together in panels. But in the New World, where virgin forests included trees 10 feet in diameter, a single board could be used for each of a chest’s constituent parts. As Ms. Stanton rightly emphasizes, the simple dignity and clean lines of the six-board chest—one of the few pieces of furniture in the average colonial household—constitute a precious visual legacy of this nation’s sober and austere heritage.

Equally fascinating is the book’s portrait of Avery’s day-to-day business. An itinerant midlevel dealer, he does not maintain a permanent retail establishment. Instead he sells most of his discoveries at antiques fairs, such as the renowned outdoor shows held each summer in the quaint Pennsylvania town of Brimfield. Packing, unpacking and transporting merchandise take up much of his time. Ms. Stanton cheerfully assists with this grueling work—Avery’s standard travel accommodations consist of a tent and sleeping bags.

But antiques also dominate Avery’s home life. Because of the frequent necessity of buying multi-item lots at auction to obtain a single desirable object—a typical job lot might contain 12 candlesticks, only one of which is important—Avery accumulates large amounts of low-end stock that he really doesn’t need. “The stuff in the house,” writes Ms. Stanton, “is like the plant in ‘Little Shop of Horrors,’ growing and consuming and taking over slowly, year by year creeping from one room to the next, filling the two-car garage, then taking over the basement (a winding deer path to the washer), and filling a spare room.”

Occasionally, Avery will discover an item whose great rarity and fine state of preservation make it suitable for a more exclusive clientele than can be found at the average tent sale. He generally places these important finds in a well-advertised auction or sells them privately to a blue-chip dealer with direct connections to wealthy collectors—connections that Avery, strangely, makes little attempt to develop for himself.

Killer Stuff Tons of Money

By Maureen Stanton

Penguin Press, 326 pages, $26.95

His attitude toward the very rich seems, in fact, to fall between indifference and contempt; at times he flaunts this distaste for the antique market’s most coveted consumers almost as a badge of honor. “He has no desire to be the front man, mingling with wealthy clients,” Ms. Stanton notes. But she opts not to pursue this matter in greater depth. It is precisely the role of a great dealer to bring objects and people together in ideal pairings. Avery—who is intensely sensitive to objects but limited in his outlook on people—has condemned himself to the role of mere middleman.

Ms. Stanton enlivens her narrative with periodic departures into related topics of interest. We learn, for instance, how the rise of eBay eroded the value of many formerly sought-after antiques, as vast quantities of objects made their way out of people’s attics and onto the Internet. We see how taste-makers like Martha Stewart drive interest in items like old brass andirons, resulting in the production of mass-market imitations that give “the look” of antiques but lack the historical legitimacy of the real thing. And Ms. Stanton’s visit with a master forger of high-end antique furniture is absolutely riveting.

These detours add depth to the narrative, but the sheer volume of digressive material becomes a distraction, and Ms. Stanton struggles to identify a clear thematic, intellectual or narrative arc in Mr. Avery’s activities. Thatcher Freund’s excellent 1993 book, “Objects of Desire,” which Ms. Stanton cites with admiration, might have provided a model: Mr. Freund narrated the history of three valuable antiques, discussing their manufacture, historical use, rediscovery and eventual sale at auction. A similarly tight focus on a few incidents or objects might have helped Ms. Stanton eliminate some of the sprawl in “Killer Stuff.”

But perhaps it’s appropriate that a work about the antiques trade should include a bit of decorative clutter. Ms. Stanton captures the lower and middle echelons of the business with great skill, and her diverting and wholly unpretentious book makes a fine companion for a day at the beach—or a weekend spent treasure hunting at Brimfield.

—Mr. Lopez is editor at large of Art Antiques.

Two men are accused of bilking investors of hundreds of thousands of dollars — one while serving as a counselor in an LDS stake presidency — in a fraudulent furniture-financing scheme that targeted, among others, a prominent University of Utah football coach.

In charges filed Monday, investigators wrote that Michael Kay Smith and Quintin Fullmer Smith promised a return of 18 percent to gain investments of at least $1.8 million from 18 victims. Their biggest investor was Norm Chow, the Utes’ offensive coordinator, who invested $500,000, court documents state.

The Smiths’ business, Newport Financial, bought the contracts of furniture customers who could not qualify for traditional financing. The Smiths understated the default rate of the furniture customers and lied about the solvency of the company, which operated only with new investor money, investigators wrote. At least five of the investors did not receive their promised payments; they lost at least $911,000, charges state.

The charges do not indicate whether Chow’s investments were returned, and Chow declined to comment. Chow, a three-time national Assistant Coach of the Year, began coaching the Utes this year, continuing a 38-year career in the NCAA and the NFL. He was the offensive coordinator for three national championship teams, and he has coached three Heisman Trophy winners and six NFL first-round draft picks. He coached at Brigham Young University from 1973 to 1999 and played for Utah from 1965 to 1967.

The scheme allegedly lasted from September 2005 through August 2009. Since 2007, Michael Smith had served as first counselor in the Salt Lake University LDS 2nd Stake presidency, which was dissolved in April during organizational changes. Several of the victims met the Smiths through relatives; at least one attended church with Michael Smith, investigators wrote.

“Church leaders have repeatedly condemned get-rich-quick schemes and financial deceptions in all their forms,” said Scott Trotter, spokesman for The Church of Jesus Christ of Latter-day Saints. “For years, they have taught members to follow wise and honest financial management principles in their business and personal lives.”

Salt Lake County prosecutor Sim Gill would not comment on whether Michael Smith’s church leadership role factored into the alleged violations or whether any of the victims belonged to church wards within the former 2nd Stake. Gill also would not comment on why the state’s newly toughened affinity fraud law, which deals with fraud against members of identifiable groups such as religions or ethnicities, was not applied in this case.

“This was principally a securities fraud investigation,” Gill said. “… We went with the strongest charges in the [case].”

Gill said the case is one of the first brought by a new white-collar crime unit in the county attorney’s office. About seven attorneys now are dedicated to prosecuting nonviolent felonies, Gill said. Previously, securities fraud cases were prosecuted chiefly by the state attorney general.

The Smiths each were charged with six counts of securities fraud and one count of pattern of unlawful activity, all second-degree felonies.

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