Ronnie Wood Divorce Results in Auction of Rolling Stones Memorabilia

 Posted on November 07, 2012 in Divorce

According to the Huffington Post, the 2011 divorce of Ronnie Wood has culminated in a two-day auction of Rolling Stones memorabilia and artwork jointly owned by Wood and his wife as part of their divorce settlement. Notable items included in the auction included Wood’s white leather coat that sold for $8,960, a lithograph of Eric Clapton drawn by Wood and signed by both Clapton and Wood that sold for $5,120, and Wood’s 1955 Fender Stratocaster guitar that went for $60,800. The auction took place at Julien’s Auctions Beverly Hills gallery.

When a divorcing couple owns assets of any value, they must be divided in an equitable manner between the parties. This often becomes a point of contention during a divorce, particularly when the assets are of a significant value. If parties are unable to reach a satisfactory division of personal property, or if it is necessary to liquidate assets in order to pay off marital debts, then an auction of personal property can be one way to raise those funds. In a case such as the Wood divorce, where an auction of the parties’ Rolling Stones memorabilia was likely to result in a large pay-off for the parties, an auction was probably the easiest way to liquidate the parties’ assets.

Dividing personal property, especially when it has a high value, can be a more difficult task than it may seem at first. Parties often become attached items of personal property for sentimental, need-based, or even financial reasons. In a time of loss such as a divorce, high emotions can make dividing even the most basic of items a complicated process. If you are in this situation, you will need the assistance of an experienced Lombard, Illinois divorce attorney to sort through your marital property and help you make decisions about the property division arrangement that would best suit you.