[meteorite-list] Pat's Stabilizing Process {was: The trials...}
From: Tim Heitz <midwestmeteor_at_meteoritecentral.com>
Date: Wed, 23 Feb 2011 09:12:07 -0600 Message-ID: <B1F0DE6825FB4760B382220B30AC893F_at_den> Hello List, Pat is working on a 1.2 kilo piece of Admire I found last year, yes it started rusting. I will know the results soon, what I have seen so far, I think I will be stop the rusting. I will come back to the list with my findings. Tim Heitz MIDWEST METEORITES http://www.meteorman.org 314-596-1435 Member IMCA-4781 International Meteorite Collectors Association ----- Original Message ----- From: "Michael Gilmer" <meteoritemike at gmail.com> To: "JoshuaTreeMuseum" <joshuatreemuseum at embarqmail.com> Cc: <meteorite-list at meteoritecentral.com> Sent: Tuesday, February 22, 2011 8:06 AM Subject: Re: [meteorite-list] The Trials and Tribulations in DealingwithLando wners > OR, put the Admire masses through the Pat Mulvany process, which will > render them completely stable on par with Esquel or the world's most > stable pallasites. > > Admire is a pretty meteorite, and once the rusting issue is taken care > of, it can stand on it's own against other pallasites. > > No need to dissolve them in acid and try to sell the gemstones as jewelry. > > Doubt Pat's process? That's fine - hang on to your rusters until they > fall apart. > > Best regards, > > MikeG > > ---------------------------------------------------------------------- > Mike Gilmer - Galactic Stone & Ironworks Meteorites > > Website - http://www.galactic-stone.com > Facebook - http://www.facebook.com/galacticstone > News Feed - http://www.galactic-stone.com/rss/126516 > Twitter - http://twitter.com/galacticstone > Meteorite Top List - http://meteorite.gotop100.com > EOM - http://www.encyclopedia-of-meteorites.com/collection.aspx?id=1564 > ----------------------------------------------------------------------- > > > On 2/22/11, JoshuaTreeMuseum <joshuatreemuseum at embarqmail.com> wrote: >> OK, fair enough. >> So anyway you get Paloma Picasso to design some matching sets of >> necklaces, >> bracelets, earrings, tiaras, rings with shooting star themes. Then have >> the >> writers think up some kind of plot device to get Lindsay Lohan on the >> show. >> Maybe have her waltz into Tiffanny's while Paloma is showing her pallidot >> jewelry. Then LiLo could shoplift the necklace and viola, a free media >> advertising blitz. It's a win-win situation. Next thing you know 50-Cent >> will have a pallidot set in his front tooth. Phil Mickelson will give his >> wife a pallidot encrusted tiara for their anniversary. There will have to >> be >> movie tie-ins like "Diamonds are a Girl's Best Friend." Liz Taylor will >> wear the world's largest faceted pallidot pendant. Baguette cut >> engagement >> rings will become all the rage........ >> >> ------------------------------------------------ >> Phil Whitmer >> ------------------------------------------------ >> >> >> >> >> Hello List, >> >> Wow, what an outpouring of comments today. >> >> Let me bring all of you up to speed on this. >> >> Five years ago, I partnered with around 10 or so friends and they >> combined >> some money, and I offered up some time and we started hunting for >> meteorites >> together. We choose to go to a certain location in Kansas where >> pallasites >> had been found in the past. >> >> We chose this location after I had my success locating some pallasite >> meteorites at the Brenham strewnfield. >> We got land leases to hunt, without any promise of any big money, no talk >> of >> Millions, or thousands or even hundreds of dollars to anyone. We just >> started hunting and we started finding meteorites. Some of my friends, >> at >> least 8 of us in the group, were very connected meteorite dealers and we >> decided to try to sell some of our finds, we tried and we tried and we >> tried, and we sold one meteorite. We contacted virtually all the >> institutions with notable meteorite collections and none of them wanted >> to >> either buy or to trade for any of our specimens. The one sale was made, >> and >> the land owner from where this meteorite came from got his contracted >> percentage royalty, and he was VERY pleased. It was truly money from >> heaven >> for him. >> >> The meteorites from this particular location have the reputation of being >> the worst rusting meteorites known to man. Far worse than Campo, Nantan, >> Brenham or any other "ruster" one can think of. So we could understand >> why >> no one wanted to buy any more of this meteorite. It was just too big of a >> risk for people to take. >> >> As we kept finding more and more meteorites, we were challenged with the >> supply and demand issue. Much supply, virtually no demand. Not a good >> outlook. >> >> Then one of the dealers in the group reminded us of the high quality >> gemstones that had been faceted from the peridot in this meteorite. So >> we >> took the specimen in the worst condition out of our inventory and >> practiced >> trying to free up some of the olivine that was in it, and sure enough, >> there >> were some amazing gemstones produced. >> >> A year and a half ago, we went to all the land owners where we had found >> meteorites and told them that if we would liquidate all the meteorites we >> found, we probably would only get $0.10 or $0.15 per gram. But we felt >> that as gemstones, we could make more money for everyone. >> >> We decided to incorporate our partnership as Palladot Inc, a Kansas >> corporation, that focused on selling meteorites, mostly in gemstone >> format. >> I am the President, and Jason Phillips is our C.E.O.. We hired Charles >> Ellias, who is a graduate gemologist with 25 years of experience in the >> color gemstone market, to manage our operations, including overseeing the >> faceting, grading and pricing and marketing of the gemstones. >> >> Our original contract only promised the landowners that they would earn >> their royalty on the "wholesale" sale of the meteorites. We told all the >> land owners we wanted to pursue the gemstone market as there was very >> little >> demand in the meteorite world for the specimens as meteorites. It was >> one >> of the landowners that actually suggested "pooling" all of the royalties >> together, so we wouldn't have to melt down every meteorite, and this way >> all >> the landowners could still share proportionately by their contribution in >> the profits. >> >> It was at that point, that in the spirit of full discloser, we explained >> how >> the gemstone market gave us the best up-side potential for earnings. If a >> market could be built for these most amazing and rare gemstones with a >> fascinating story, then we would have the supply to fill the demand >> created. >> And yes, IF there would be millions of dollars of demand created, we >> would >> have millions of dollars of gems. >> >> All of the land owners, except for one, agreed to pool their royalty >> interest together and join us in the gem market. >> The one landowner that didn't want to go to the gem business with us, was >> happy to take his portion "in kind" and we gave him his meteorites. All >> the >> others signed a new agreement that pooled their royalties together. >> >> One year ago this month, we started selling Palldot Pallasitic Peridot >> gemstones at the Tucson show (specificially at the Pueblo Show at the >> Executive Inn.) It seems we chose the worst year, economically speaking, >> since the Great Depression to start a business...not to mention, a >> business >> in the luxury jewelry market. >> But we still made some sales, and our business is growing. >> >> Now, back a year and a half ago, the deal we made was that we would share >> the royalty to the landowners based on the retail profits rather than on >> the >> wholesale sales. The landowner who was featured in this local TV story >> we >> are all talking about, actually had his attorney look over the new >> pooling >> agreement. In fact, his attorney made some suggestions to alter it, and >> we >> agreed to his suggested changes. >> >> There NEVER was any promise of "getting rich quick." Never. Getting >> rich >> over time...maybe, if we played our cards right. >> >> But we did state that the sale of just a few gemstones could yield more >> money than the whole meteorite could fetch on its own. >> >> So, for the last several months, this one landowner has been trying to >> get >> Jason and me to "alter his contract." If it were just a matter of making >> him happy, there wouldn't be a problem. BUT there are ALL the other >> landowners that we are in binding contracts with. We would make the >> others >> very mad if we gave into this one man's demands at their expense. >> >> Of course, if we were in breach of contract, there would be legal >> remedies >> this man could take. But we aren't in breach of the contract so he chose >> to >> threaten us with going to the investigative reporter at a TV station with >> his story. We discussed some options that we could offer him, and still >> keep the other land owners happy, but they were not what he wanted, so he >> went to the reporter anyway. >> >> At the start, I think the reporter thought there was this huge story, but >> I >> spent nearly two hours of interviews with her, and when she heard my >> side, >> the only thing she had left for her story was that this one landowner was >> "not happy" that he hadn't seen any profits yet. >> >> Well, I am "not happy" that we haven't seen any profits either! >> >> But we are doing the best we can. >> >> We are making sales, and when there are profits, the stockholders will >> get >> dividends and the landowners will get royalties. >> >> We have invested over $100,000 and somewhere north of 3,000 man hours >> into >> this one project. This landowner has invested zero dollars, and zero >> hours. >> There are a lot of other people that have far more invested, and we ALL >> want >> to see a return. He will be entitled to his share when profits are >> generated just as he agreed to a year and a half ago. >> >> Now, let me also remind you that news reporters don't care about telling >> the >> whole story. They only had a few minutes for the segment, and while I >> share >> all of this with the reporter, she (and her editors) decided to run the >> story for ratings purposes. Because, everyone I have talked to said this >> really is a "non-story." Millions of people everyday are not happy with >> contracts they entered into in the past. It isn't news. Nowhere in the >> contract does it say that each landowner "has to be happy." In fact, >> that >> is why you have contracts, because, inevitably, people often become less >> than happy with the deals they struck over time. >> >> Meanwhile, we have an obligation to our shareholders, and to the >> landowners >> to press on and do our best to make all of us as much money as we can. >> It >> might be sad if what we are doing was hurting science, but to be honest, >> if >> there wasn't the potential for profit with the gemstones, we would have >> quit >> hunting a long time ago, and a lot of these rocks would still be >> underground >> rusting away anyway. >> >> I know this explanation won't make everyone happy, but I have learned a >> long >> time ago that it isn't my job to make everyone happy. >> >> I just do the best I can with the hand I am dealt. >> >> Feel free to contact me off the list if you have any further questions. >> >> Steve Arnold >> President, Palladot Inc >> Co-Host Meteorite Men >> ArnoldMeteorites.com >> >> >> ______________________________________________ >> Visit the Archives at >> http://www.meteoritecentral.com/mailing-list-archives.html >> Meteorite-list mailing list >> Meteorite-list at meteoritecentral.com >> http://six.pairlist.net/mailman/listinfo/meteorite-list >> > > > -- > ______________________________________________ > Visit the Archives at > http://www.meteoritecentral.com/mailing-list-archives.html > Meteorite-list mailing list > Meteorite-list at meteoritecentral.com > http://six.pairlist.net/mailman/listinfo/meteorite-list Received on Wed 23 Feb 2011 10:12:07 AM PST |
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