Stevie Ray Vaughan Discussion

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Needless to say...I was mortified the first time I saw the figures on this document....and I'm sure you will be too.
An artist of Stevie's caliber........

SRV ESTATE INVENTORY

SRV Estate Inventory
NO. 90-3569-P2
ESTATE OF [[section]] IN THE PROBATE COURT
STEPHEN RAY VAUGHAN, [[section]]
DECEASED [[section]] NUMBER TWO
[[section]]
[[section]] DALLAS COUNTY, TEXAS
[[section]]
INVENTORY, APPRAISEMENT & LIST OF CLAIMS
Date of Death: August 27, 1990

The following is a full, true and complete Inventory and Appraisement of all personal and real property situated in the State of Texas, together with a List of Claims due and owing to this estate as of the date of death, which have come into the possession or knowledge of the undersigned.

INVENTORY AND APPRAISEMENT

SEPARATE PROPERTY

All property of decedent is separate property.

REAL PROPERTY

None

STOCKS AND BONDS

1. 50 Shares Class A Voting Capital Stock ($1.00 Par Value) Stevie Ray Vaughan and Double Trouble, Inc. Texas Corporation
Estimated value: included in #2

2. 50 Shares Class B Non-Voting Capital Stock ($1.00 Par Value) Stevie Ray Vaughan and Double Trouble, Inc. Texas Corporation
Estimated value: $6,612.50

(This value cannot be accurately determined at this time as potential liabilities may exceed the value of potential revenues. This value is based on decedent's share of corporate surplus.)

3. 100% of common stock of Ray Vaughan Music, Inc. Texas Corporation
Estimated value: $17,048.00

(Value is based on capital and surplus as revenue attributable to publishing & mechanical royalties is owned by decedent outright and is included in the royalty value described below.)

4. 15,000 Shares Class A Voting Capital Stock ($1.00 Par Value) Lee Melone, Inc. Georgia Corporation
Estimated value: included in #5

5. 15,000 Shares Class B Non-Voting Capital Stock ($1.00 Par Value) Lee Melone, Inc. Georgia Corporation
Estimated value: -0-

6. 100% of common stock of Stevie Ray Vaughan, Inc. Texas Corporation
Estimated value: -0-

MORTGAGES, NOTES & CASH

DEMAND DEPOSIT ACCOUNTS

1. City National Bank Los Angeles, California
(Beverly Hills) Acct. #001-980-424
$392.03

2. City National Bank Los Angeles, California
(Beverly Hills) Acct. #001-993-151
$54,278.84

3. Savings of America Dallas, Texas
$68,000.00

4. Stevie Ray Songs
City National Bank Los Angeles, California
(Beverly Hills) $1,320.42

5. Tax Savings Account
City National Bank Los Angeles, California (Beverly Hills)
$24,281.54

Certificates of Deposit

1. City National Bank Los Angeles, California
(Beverly Hills) Maturity 9/4/90
$25,474.23

PERSONAL PROPERTY

1. 1975 Chevrolet Caprice MVI#1N67U55155049
Est. value: $1,000.00

2. 132 video and audio recordings and miscellaneous film footage (accurate valuation of this property has not been made as value ranges from sentimental in nature to commercially viable; certain rights to the exploitation of the recordings are held by CBS records)
Est. value: $20,000.00

3. Personal effects, clothing, jewelry, home furnishings, motorized skateboard, bicycles, video camera, personal mementos and personal effects.
Est. value $20,000.00

4. 34 Guitars in various stages of repair
Est. value $28,450.00

5. 12 Speakers for amplified music reproduction in various stages of repair
Est. value $4,500.00

6. 31 Musical amplifiers in various stages of repair.
Est. value $25,450.00

7. Miscellaneous guitar and amplifier repair parts, cassette deck, drum set, pre-amp, CD player, power amps, track recorder, guitar body, strobe tuner, and miscellaneous musical instrument accessories and equipment.
Est. value $1,600.00

ROYALTIES

1. Mechanical and ASCAP royalties (writers and publishers), when, as, and if paid on the following song compositions:

a) Lovestruck Baby
b) I'm Cryin
c) Empty Arms
d) Dirty Pool
e) I'm Crawlin
f) The House is Rockin
g) Tightrope
h) Travis Walk
i) Wall of Denial
j) Scratch-N-Sniff
k) Riviera Paradise
l) Hard to Be
m) Pride & Joy
n) Hillbilly from Outerspace
o) Long Way from Home
p) Telephone Song
q) Baboom/Mama Said
r) Brothers
s) Rude Mood
t) Couldn't Stand the Weather
u) Lenny
v) Scuttle Buttin'
w) Honey Bee
x) Stangs Swang
y) Say What
z) Ain't Gone 'n' Give Up On Love
aa) Life Without You

2. Royalties, reserves, residuals or residuaries relating to the following records, albums, videos, soundtracks, CDs, tapes, musical compositions or other compositions:

a) Texas Flood
b) Couldn't Stand the Weather
c) Soul to Soul
d) Live Alive
e) In Step
f) Family Style

A precise valuation of the above reference royalty interests has not been made as the value of the foregoing continues to evolve. However, an estimate has been assigned to these royalty interests.
Est. value: $300,000.00

LIST OF CLAIMS

ACCOUNTS RECEIVABLE

1. Debtor: Stevie Ray Vaughan and Double Trouble, Inc.
Address: 4344 Travis
Dallas, Texas 75205
Date due: on demand
Rate of interest: none
Nature of debt: royalty payment share
Date debt arose: various dates as payments received
Amount of debt: $68,850.00

2. Debtor: Stevie Ray Vaughan and Double Trouble, Inc.Address: 4344 Travis
Dallas, Texas 75205
Date due: on demand
Rate of interest: none
Nature of debt: accrued salary
Date debt arose: various dates as salary accrued
Amount of debt: $4,800.00

The foregoing Inventory, Appraisement and List of Claims should be approved and ordered entered of record.

Respectfully submitted,

[signature]

Date: 3/04/91

JIMMIE VAUGHAN,
Independent Administrator

Ronald Habitzreiter
Attorney at Law
1208 West Ave.
Austin, Texas 78701
512-454-1730
State Bar #08665700
Attorney for the Estate


[Note: All names, titles, and other incidentals are as they appear on the original document, which was filed in Dallas County on March 21, 1991.]


This comes to a total of: $672,057.56
_________________
I use heavy strings, tune low, play hard and floor it. Floor it. That's technical talk.
~Stevie Ray Vaughan

My brother Jimmie always said I played like I was breaking out of jail.
~Stevie Ray Vaughan

[Angelic Layer]

That was surprisingly little.

[Johnny Riz]

yeah, I also was shocked at the net value of the estate....very sad. But Then again Stevie unfortunately did not ever get the chance to "get his financial house in order".

Specifically, I think had Stevie lived into his 40's and beyond, I think the natural forces af age and the ability of seeing one is only here for so long would have helped greatly in expediting this process.

if only........
_________________
Johnny Riz
Blues Bassist

"...I am by no means wise or special. I'm just like everyone else - trying to get through life leaving a little more than I take." - Tommy Shannon

[Cold Shot]

What was claimed in the estate (which is for tax purposes) and what really exists, is very often quite different in amounts.

I'm willing to bet that he was worth much more than what was claimed.

Also keep in mind that he shared earnings equally with the band members, which is very rare, but that's the kind of guy they say he was.

[TTrahan]

I think it's awful that people are so nosy.

[rockindillo]

[hide_away]

I'm sure if #1 were to ever see the auction block it would bring in a hefty price. But...and this is just my opinion...I would hate to see any price tag put on that guitar. To any SRV fan...it's priceless. It would be like putting a price on someone's child or someone's life. No amount of money could measure what it's worth.
_________________
I use heavy strings, tune low, play hard and floor it. Floor it. That's technical talk.
~Stevie Ray Vaughan

My brother Jimmie always said I played like I was breaking out of jail.
~Stevie Ray Vaughan

[Blind Melon Chitlin]

At the time of Stevie's death his guitars didn't have nearly as much value as they would now, even if they hadn't belonged to him. The vintage guitar market has reached and surpassed some peaks that no one thought it would. Stevie's was a working collection.

Another thing to consider is the fact that SRV wasn't as well known as you might think when he died. For example, none of his albums ever went 'Platnum' before he died. Nowdays if your album doesn't go Platnum you'll probably be dropped from the record label. Had Stevie come along twenty years later, no major label would touch him. If you look at the figures you'll see that most of the postumos releases, with a few exceptions, haven't sold very well.

The items that were really undervalued by the estate were the recordings of live performances, which as we have seen has been a gold mine.
_________________
The stars at night are big and bright....

[Blind Melon Chitlin]

It should also be noted that Stevie had recently gone though a costly divorce, and and severed ties with his management, shortly before he died and both of those things pretty much cleaned him out. Before he got signed he was getting bank rolled by Classic Management, and every dime they gave him was considered an advance against furure earnings. In addition to covering all expenses, they had Stevie, Chris, and Tommy on salary even when they weren't working. As you can imagine, it adds up pretty quickly. The part that I find especially sad is how many people have gotten rich off of his music since he died.
_________________
The stars at night are big and bright....