I'm guessing that there are expenses that need to be paid, and there is not much $ in the estate.
There was an article today in my local paper saying that a black velvet dress and pearl earrings that Whitney wore in The Bodyguard would be auctioned as part of the "Hollywood Legends" auction which had been planned for March 31 and April 1.
Whitney Houston belongings up for auctionQuote:
Whitney Houston belongings up for auction
Published: February 20, 2012 9:19 PM
There had to be an auction, but so soon?
A black velvet dress that belonged to Whitney Houston and a pair of earrings she wore in "The Bodyguard" will be sold to the highest bidder next month, The Associated Press reports.
Celebrity auctioneer Darren Julien said Sunday the pieces and other Houston items became available after the singer's death on Feb. 11 and will be included among a long-planned sale of Hollywood memorabilia such as Charlie Chaplin's cane, Clark Gable's jacket from "Gone With the Wind" and Charlton Heston's staff from "The Ten Commandments."
Julien said celebrity collectibles often become available after their namesakes die.
"It proves a point that these items, they're an investment," Julien said. "You buy items just like a stock. Buy at the right time and sell at the right time, and they just increase in value."
But could it be too soon to profit from Houston's passing? She was just buried on Sunday.
"It's a celebration of her life," Julien said. "If you hide these things in fear that you're going to offend someone -- her life is to be celebrated. These items are historic now that she passed. They become a part of history. They should be in museums. She's lived a life and had a career that nobody else has ever had."
Houston is "someone who's going to maintain a collectibility," he said. "For people who are fans of Whitney Houston and never would have had a chance to meet her and never got to talk to her, these are items that literally touched a part of her life. They are a way to relate to her or be a part of her life without having known her."
The singer's floor-length black dress is valued at $1,000 but likely to collect much more. Same goes for the vest she wore in "The Bodyguard," listed at $400, and the faux-pearl earrings that start at $600.
Houston fans and other collectors can bid online, by phone or in person during the "Hollywood Legends" auction on March 31 and April 1. Lots will be shown during a free public exhibition beginning March 19 at Julien's Auctions in Beverly Hills, Calif., just blocks from the Beverly Hilton Hotel, where Houston died at age 48.
It just seems so soon( they just had the funeral)
I think they figure that much money will be coming in every year/month for the rest of their lives & don't plan for reality. Maybe it's also the poor-kid-gets-money syndrome. They don't know anything about financial planning & just throw it around on wastefullness.
I know I wouldn't! If I ever got a large financial boon for any reason, I'd plan for the future to make sure it lasted, even if it was supposed to continue.
Never trust the future. Plan for it.
I think many of them also support various family members who also think they can live the high life.
My former husband has lived his life in the "spend it all" mentality. He grew up in a large, impoverished family, and material things and "showboating" were very important to him. He actually told me, a very long time ago, that he would just spend it all because he would just make more when that ran out. And I am talking about spending down to the last penny! That mentality is definitely not rare.
I think this attitude is common with people who grew up poor or struggling.
It's all about the show.