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Public limited partnerships are no longer the popular investment they were in the 1980s, but thousands of investors still hold their partnership units. If one of the "3 Ds" -- death, divorce or disgust - compels them to consider selling, partnership investors soon learn the limited partnership secondary market is an inefficient "vulture market" characterized by opportunistic buyers hoping to buy assets on the cheap.
Before selling, public limited partnership investors are well advised to learn whether there is a market for their units and if so, what price buyers are paying. (That makes it easier to identify and reject "lowball" offers.) While buyers hope sellers are unaware of the true value of their investment, since 1997 SPARDATA has made secondary market trade data available on its website free of charge, as a public service. Posted nearby is a link to the Trades Database.
Click to see a list of secondary market firms that buy and sell limited partnership interests. SPARDATA lists these firms' names as a public service, but does not endorse or recommend any. Caveat emptor (let the buyer beware)! Investors interested in selling their units should shop around, and carefully check references, before choosing a broker. Always remember this is an inefficient vulture market.