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NEW YORK (FORTUNE) -
They all laughed when Jefferson bought half the continent from France. Alaska was called "Seward's folly." Other "crazy" investments have worked out fine, too. But some oddball bets fell flat.
One of the surprising losers in our gallery is Warren Buffett, and there's a host of other investors profiled, both winners (the entrepreneur who bought the formula for a weird brown health drink called Coca-Cola) and losers (remember Webvan?).
Advertising mogul Charles Saatchi made a good call when he bought Damien Hirst's infamous shark installation (a 14-foot tiger shark suspended in a tank of formaldehyde) in 1991 for under $100,000. Twelve years later, he sold it to hedge fund manager Steve Cohen for between $8 million and $12 million. Rumor has it that the shark may soon take up residence at New York's MoMA.
Kim Basinger didn't make out as well when she helped buy Braselton, Ga., for $20 million in 1989. She hoped it would become a tourist attraction and film festival site, but instead it was sold for $1 million when the actress declared bankruptcy four years later.
See our gallery of off-the-wall investments, from Buffett's stamp bid (big mistake) to Michael Jackson's big win. FORTUNE's "Believe It or Not" investment gallery.
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Find out why Robert Sillerman paid $114 million for the Elvis business, and how he's planning to make Elvis the King of Las Vegas.
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