The bronze replica of an owl was found on the night of October 2 to 3, as part of a treasure hunt. The value of the real owl, made of gold and silver and set with precious stones, is estimated at 150,000 euros. But it is likely to have increased with the price of gold.
“Where you want, by the horse and the driver. But where you must, by the compass and the foot.” Here is one of the 11 riddles proposed for the treasure hunt for the famous golden owl, launched in 1993. 31 years ago, on the night of April 23 to 24, 1993, Régis Hauser, alias Max Valentin, buried the famous owl gold which will be sought by more than 200,000 “owls”. This morning one of the co-organizers, Michel Becker, announced on the forum Discord that the owl had been located by a participant on the night of October 2 to 3.
The value of the golden owl was estimated at one million francs at the time the game was created, or 150,000 euros. In order to preserve it from the passage of time, it is a life-size bronze replica which was buried in a wooden chest somewhere in France. The real treasure is in a bank vault. The owl made of gold and silver with a wingspan of 50 to 80 centimeters weighs around ten kilograms and is set with diamonds.
A possible increase in the estimated value
The increase in the price of gold suggests that its value may have increased, estimates Rémy Le Fur, auctioneer at Auction Art. In 1990 an ounce of gold was worth 400 dollars according to veracash.comcompared to around $2,600 today.
The auctioneer specifies that “we do not sell exactly at the price of the bar, there is a discount that applies”. As for the precious stones, “it must not be worth much if the precious stones are set in the owl’s eyes”, estimating their value at several hundred euros.
A taxable gain?
The taxes applying to the golden owl remain unclear. For Jean-Pascal Michaud, tax lawyer at the LMD lawyers firm, “the question is not obvious, because we are not talking about a real treasure”. In principle, in the case of a game of chance, the winnings are not subject to income tax. For example, an amount won in the lottery is not taxable. On the other hand, “game winnings are taxed when the skill and efforts of the winner are repeated” specifies the tax expert. Thus, a regular poker player will be taxed on his winnings.
In the case of the golden owl, “the one who found the treasure did not win by luck, but through investigative work. And he will not be able to win the prize a second time.” “It’s a glue,” admits Jean-Pascal Michaud, who advises the winner, still anonymous, to request a ruling from the tax administration.
A flat-rate tax in the event of resale
As for the resale, “it is likely that the winner will have to pay tax on the capital gain under the flat-rate tax regime” explains Maître Fournol, lawyer in the field of the art market. This will either be a tax on precious metals (which amounts to 11.5% of the sale price) or, more certainly, a tax on collectibles (6.5% of the sale price). “Everything will depend on the legal qualification of this golden owl,” he concludes.
A treasure hunt that has made more than one dream, as evidenced by the numerous reactions on social networks, “it’s a childhood dream that’s gone” testifies one participant.
