This post isn't about anything legal, but it's summer, and this is an interesting story. (Or at least I find it interesting – I should disclose that I'm on the board of Orchestra London.)
Christine Newland, principle cellist of Orchestra London, borrowed in 1976 to buy a cello for $12,000. According to an online inflation calculator, that's about $48,000 in today's money. She knew it was a special instrument at the time, but had no idea how special until recently. Turns out that it was made in 1730, and is a twin – made from the same tree – of another cello that currently resides at the Royal Academy of Music in London England. It was valued at $750,000.
She just sold it for $500,000 to the Canada Council Instrument Bank, which loans instruments to professional musicians. It has also been named in her honour – now known as the Newland Joannes Franciscus Celoniatus cello.