Since much of The Dreier Collection that is being sold at auction through Profiles in History (beginning with their Part 1 sale having concluded today) was originally purchased at auction through Profiles in History, I thought that it would be interesting to compare some of the lots with their original hammer price (sans Buyer’s Premium) against the new sale price from the new auction. [NOTE: some updates made on 7/30 as marked and noted below]
In an attempt to do so in a fair manner, I thought that I would publish a list of some of those items that I found in past catalogs prior to the auction (the list published last night is the same list used for this analysis).
Post Auction Follow-Up On “Peer Review”
As a side note, those questions raised in prior articles in this blog, as an attempt to participate in what Profiles in History has called “peer review“, have gone without response, or any perceivable public reaction.
OPB Article: “Profiles in History “Peer Review” on George Reeves Superman Cape; More on 12/29/75 Western Costume Letters“
Lot 106. GEORGE REEVES “SUPERMAN” CAPE FROM THE ADVENTURES OF SUPERMAN
Question: Validity of one of many December 29, 1975 Dated Letters of Authenticity from Western Costume
Question: Superman Costume Expert Raises Questions About Authenticity
John Field of Video Rarities, another Superman expert, raised additional questions on the Original Prop Blog Facebook Page:
John Field The George Reeves Cape is a fake. I know for a fact, and saw several of these made. At that time (20 plus years ago), they were being sold as copies. Today, they keep popping us as authentic.
The George Reeves Superman cape from The Adventures of Superman was sold today for $9,000 plus Buyer’s Premium (see Lot 106).
OPB Article: “San Diego Comic Con 2012: Profiles in History Auction Preview“
OPB Article: “San Diego Comic Con 2012: Event Recap & My Personal Experience“
Questions:
Lot 81. MARLON BRANDO COMPLETE SIGNATURE “JOR-EL” COSTUME FROM SUPERMAN: THE MOVIE.
- The “S” emblem on the chest is a replica – not an original. This is not noted in the catalog description.
Lot 83. CHRISTOPHER REEVE COMPLETE HERO SUPERMAN COSTUME FROM SUPERMAN: THE MOVIE.
- The fabric of the bodysuit is correct, but the tights are a different shade of blue from the top, which is not apparent in reviewing the photo that appears in the Profiles in History catalog. If you look at my photography below, the differences in color will be more apparent. This is not noted in the catalog description (in fact, it is described as “matching”). I don’t know if the difference in color is by design and the pair is mismatched, or if one half of the suit was exposed to sun or some other element that caused a change in color. Since the suit is on a mannequin at the convention, I was not able to inspect/review the tagging.
Profiles in History never updated their online catalog description for the Jor-El costume noting that the “S” emblem was a replica. The Jor-El costume sold today for $60,000 plus Buyer’s Premium (see Lot 81).
The company also did not amend their description for the Superman costume noting that the blue trunks and top do not match in color (and the difference is not noticeable in their auction photos, unlike my own photos from Comic Con); in fact, the costume is described as “matching” and “in pristine condition” apart from issues with the belt and cape. The Christopher Reeve Superman costume sold today for $65,000 plus Buyer’s Premium (see Lot 83).
Fong Sam, the one principal at Profiles in History that was having public discourse about their notion of “peer review” announced earlier this week that he is no longer going to be working for Profiles in History following their auctions over the coming days (see Haxbee.com “A new chapter”).
“Apples to Apples” Analysis – Profiles in History Purchase & Resale
Now that today’s auction has concluded, I’ve conducted some analysis comparing the original sale price and the new sale price for the same items.
As noted last night, it is a vast catalog, and I attempted to identify and track back a significant sampling, in order to conduct an “apples to apples” comparison between original sale and new sale.
I have also done further analysis, looking at it from both an investment and market perspective. If we took this collection as an investment, and as Profiles in History auctions over many, many years, how would this material fare as an investment portfolio, assuming all items purchased at auction, an 18% Buyer’s Premium on purchase, and a 15% Seller’s Premium on resale at today’s auction. Please note that none of the figures below reflect the Profiles in History Buyer’s Premium, which varies depending on bidding and payment methods (20-23% of hammer price).
My spreadsheet follows the item by item recap below.
Interestingly, Mark at The Prop Stop breathlessly declares the auction by the “unstoppable juggernaut” a huge success (see “Recession…..what recession! Profiles in History blows away competition with huge money for the Dreier collection“), and opens stating “[t]he facts speak for themselves” and closes with “[c]ongratulations to Profiles yet again cementing there [sic] place as the number 1 place to sell Hollywood film and tv memorabilia in the world“.
Yes, there are some high prices realized, but even taking one of Mark’s examples – a Batman costume selling for $25,000 – it appears to be the same costume purchased by the Dreier Collection for $90,000. Obviously, this is a huge loss on a single item (selling for just 28% of what it was purchased for, not taking into account the 18% or so Buyer’s Premium assessed when purchasing it, or the 15% or so Seller’s Premium charged to sellers by Profiles in History). Assuming all of those numbers are correct, it is plausible that the actual cost of acquisition was $106,200, and the net sale price (after Seller Premium) might be $21,250, or just about 20% of the amount invested into the piece.
Of course, I can’t know the true cost to acquire and sell this entire collection, and some pieces sold for more than the original sale price. [Updated 7/30 – the following statement no longer applies due to OPB research error] Taking another example, it appears that the 20,000 Leagues Under the Sea submarine is the one originally purchased from Profiles for $30,000, and it resold today for $130,000, so obviously that was a much more profitable outcome when compared with the Batman costume.
I would say that Mark is correct in saying that facts speak for themselves, but I’m not sure of his ability to evaluate them in this case.
In any event, below is the list of items I identified prior to the sale for “apples to apples” comparison, pre-sale so as to eliminate any possible bias (pro or con).
UPDATED 7/30
I made an error with my original research and misidentified a different 20,000 Leagues Under the Sea Nautilus submarine as the one offered in this sale. I research backward through the Profiles in History PDF catalogs going back to Hollywood Auction 17 (when they first began making their catalog available in PDF) and could not find a match. Therefore, my comparison with Lot 1 of this sale was not “apples to apples” and has been removed from this analysis. The related analysis and spreadsheet and results have been updated accordingly.
Lot 1. 20,000 Leagues Under the Sea large-scale Nautilus submarine and squid.
New Pre-Sale Estimate: $60,000-$80,000Original Sale: April 5, 2007 – $30,000Latest Sale: July 28, 2012 – $130,000Change (Original Price vs New Price):Lot 6. MATTHEW BRODERICK “FERRIS BUELLER” LEATHER JACKET FROM FERRIS BUELLER’S DAY OFF.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: December 12, 2003 – $35,000
- Latest Sale: July 28, 2012 – $30,000
- Change (Original Price vs New Price): 86%
Lot 9. Original screen-used Johnny Depp costume and display from Edward Scissorhands.
- New Pre-Sale Estimate: $60,000-$80,000
- Original Sale: December 18, 2010 – $100,000
- Latest Sale: July 28, 2012 – $70,000
- Change (Original Price vs New Price): 70%
Lot 16. Mike Myers “Austin Powers” red velvet suit from Austin Powers: The Spy Who Shagged Me.
- New Pre-Sale Estimate: $6,000-$8,000
- Original Sale: December 18, 2010 – $9,000
- Latest Sale: July 28, 2012 – $8,500
- Change (Original Price vs New Price): 94%
Lot 18. Mike Myers “Austin Powers” signature orange costume from Austin Powers in Goldmember.
- New Pre-Sale Estimate: $6,000-$8,000
- Original Sale: March 28, 2008 – $6,000
- Latest Sale: July 28, 2012 -$6,000
- Change (Original Price vs New Price): 100%
Lot 19. Mike Myers signature “Austin Powers” groovy suit from Austin Powers in: Goldmember.
- New Pre-Sale Estimate: $6,000-$8,000
- Original Sale: March 28, 2008 – $6,000
- Latest Sale: July 28, 2012 – $9,500
- Change (Original Price vs New Price): 158%
Lot 20. RUSSELL CROWE “MAXIMUS” CHEST ARMOR FROM GLADIATOR.
- New Pre-Sale Estimate: $8,000-$12,000
- Original Sale: October 9, 2009 – $25,000
- Latest Sale: July 28, 2012 – $32,500
- Change (Original Price vs New Price): 130%
Lot 21. RUSSELL CROWE “MAXIMUS” ICONIC CHEST ARMOR FROM GLADIATOR.
- New Pre-Sale Estimate: $15,000-$20,000
- Original Sale: June 11, 2010 – $32,500
- Latest Sale: July 28, 2012 – $47,500
- Change (Original Price vs New Price): 146%
Lot 37. BYUNG-HUN LEE “STORM SHADOW” HERO COMBAT COSTUME WITH PAIR OF HERO KATANA FIGHTING SWORDS FROM G.I. JOE: THE RISE OF COBRA.
- New Pre-Sale Estimate: $2,000-$3,000
- Original Sale: October 9, 2009 – $6,000
- Latest Sale: July 28, 2012 – $5,500
- Change (Original Price vs New Price): 92%
Lot 38. SIENNA MILLER “BARONESS” COSTUME FROM G.I. JOE: THE RISE OF COBRA.
- New Pre-Sale Estimate: $2,000-$3,000
- Original Sale: October 9, 2009 – $4,500
- Latest Sale: July 28, 2012 – $5,500
- Change (Original Price vs New Price): 122%
Lot 44. COMPLETE CYLON COSTUME FROM BATTLESTAR GALACTICA.
- New Pre-Sale Estimate: $40,000-$60,000
- Original Sale: March 28, 2008 – $55,000
- Latest Sale: July 28, 2012 – $37,500
- Change (Original Price vs New Price): 68%
Lot 53. GENE WILDER “WILLY WONKA” SIGNATURE TOP HAT FROM WILLY WONKA & THE CHOCOLATE FACTORY.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: December 15, 2011 – $42,500
- Latest Sale: July 28, 2012 – $27,500
- Change (Original Price vs New Price): 65%
Lot 58. JULIE DAWN COLE “VERUCA SALT’S” ORIGINAL SCREEN-USED “EVERLASTING GOBSTOPPER” FROM WILLY WONKA & THE CHOCOLATE FACTORY.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: May 15, 2011 – $42,500
- Latest Sale: July 28, 2012 – $40,000
- Change (Original Price vs New Price): 94%
Lot 60. JULIE DAWN COLE “VERUCA SALT’S” ORIGINAL SCREEN-USED GOLDEN TICKET FROM WILLY WONKA & THE CHOCOLATE FACTORY.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: November 6, 2010 – $47,500
- Latest Sale: July 28, 2012 -$37,500
- Change (Original Price vs New Price): 94%
Lot 81. MARLON BRANDO COMPLETE SIGNATURE “JOR-EL” COSTUME FROM SUPERMAN: THE MOVIE.
- New Pre-Sale Estimate: $60,000-$80,000
- Original Sale: December 11, 2008 – $60,000
- Latest Sale: July 28, 2012 -$60,000
- Change (Original Price vs New Price): 100%
Lot 83. CHRISTOPHER REEVE COMPLETE HERO SUPERMAN COSTUME FROM SUPERMAN: THE MOVIE.
- New Pre-Sale Estimate: $60,000-$80,000
- Original Sale: April 5, 2007 – $100,000
- Latest Sale: July 28, 2012 – $65,000
- Change (Original Price vs New Price): 65%
Lot 92. SCREEN-USED KRYPTONITE CRYSTAL AND BOX FROM SUPERMAN III.
- New Pre-Sale Estimate: $6,000-$8,000
- Original Sale: April 5, 2007 – $22,500
- Latest Sale: July 28, 2012 – $14,000
- Change (Original Price vs New Price): 62%
Lot 111. JIM CARREY “RIDDLER” SEQUINED JACKET WITH SCARF FROM BATMAN FOREVER.
- New Pre-Sale Estimate: $8,000-$12,000
- Original Sale: March 31, 2006 – $32,500
- Latest Sale: July 28, 2012 – $8,000
- Change (Original Price vs New Price): 25%
Lot 114. A ¼ SCALE BATMOBILE MINIATURE FROM BATMAN RETURNS.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: December 18, 2010 – $35,000
- Latest Sale: July 28, 2012 – Unsold
- Change (Original Price vs New Price): — UNSOLD —
Lot 115. MICHAEL KEATON COMPLETE “BATMAN” COSTUME FROM BATMAN RETURNS.
- New Pre-Sale Estimate: $30,000-$50,000
- Original Sale: March 28, 2008 – $90,000
- Latest Sale: July 28, 2012 – $25,000
- Change (Original Price vs New Price): 28%
Lot 131. HUGH JACKMAN “WOLVERINE” COSTUME FROM X-MEN.
- New Pre-Sale Estimate: $12,000-$15000
- Original Sale: May 1, 2009 – $15,000
- Latest Sale: July 28, 2012 – $12,000
- Change (Original Price vs New Price): 80%
Lot 134. SIGNATURE “WOLVERINE” BLACK LEATHER BATTLESUIT FROM X-MEN.
- New Pre-Sale Estimate: $30,000-$50,000
- Original Sale: December 11, 2008 – $75,000
- Latest Sale: July 28, 2012 – $40,000
- Change (Original Price vs New Price): 53%
Lot 136. SIGNATURE IAN MCKELLEN “MAGNETO” COSTUME FROM XMEN.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: August 1, 2008 – $30,000
- Latest Sale: July 28, 2012 – $15,000
- Change (Original Price vs New Price): 50%
Lot 139. HALLE BERRY HERO “STORM” BATTLESUIT FROM XMEN.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: March 28, 2008 – $37,500
- Latest Sale: July 28, 2012 – $22,500
- Change (Original Price vs New Price): 60%
Lot 145. HUGH JACKMAN “WOLVERINE” HERO CLAWS FROM X2: X-MEN UNITED.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: April 5, 2007 – $35,000
- Latest Sale: July 28, 2012 – $25,000
- Change (Original Price vs New Price): 71%
Lot 154. ORIGINAL SCREEN-USED HERO E-11 STORMTROOPER BLASTER FROM STAR WARS: EPISODE IV – A NEW HOPE.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: July 29, 2005 – $47,500
- Latest Sale: July 28, 2012 – $35,000
- Change (Original Price vs New Price): 74%
Lot 157. COMPLETE STORMTROOPER TOUR COSTUME FROM STAR WARS: EPISODE IV – A NEW HOPE.
- New Pre-Sale Estimate: $6,000-$8,000
- Original Sale: July 29, 2005 – $17,000
- Latest Sale: July 28, 2012 – $10,000
- Change (Original Price vs New Price): 59%
173. LIAM NEESON STUNT LIGHTSABER USED AS “QUI-GON JINN” IN STAR WARS: EPISODE I – THE PHANTOM MENACE.
- New Pre-Sale Estimate: $12,000-$15,000
- Original Sale: July 28, 2006 – $30,000
- Latest Sale: July 28, 2012 – $35,000
- Change (Original Price vs New Price): 117%
Lot 220. JEAN LUC PICARD’S “ENTERPRISE-E” COMMAND CHAIR FROM THE STAR TREK FILMS.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: December 14, 2007 – $45,000
- Latest Sale: July 28, 2012 – $22,500
- Change (Original Price vs New Price): 50%
Lot 241. GRAIL CUP FROM INDIANA JONES AND THE LAST CRUSADE.
- New Pre-Sale Estimate: $8,000-$12,000
- Original Sale: August 1, 2008 – $22,500
- Latest Sale: July 28, 2012 – $22,500
- Change (Original Price vs New Price): 100%
Lot 245. GRAIL TABLET FROM INDIANA JONES AND THE LAST CRUSADE.
- New Pre-Sale Estimate: $20,000-$30,000
- Original Sale: March 31, 2006 – $60,000
- Latest Sale: July 28, 2012 -$22,500
- Change (Original Price vs New Price): 38%
Lot 249. METAL SWORD USED BY THE GRAIL KNIGHT FROM INDIANA JONES AND THE LAST CRUSADE.
- New Pre-Sale Estimate: $6,000-$8,000
- Original Sale: March 31, 2006 – $22,500
- Latest Sale: July 28, 2012 -$6,000
- Change (Original Price vs New Price): 27%
Per my analysis of this data (having removed the Batmobile model (Lot 114) as it did not sell) [Update 7/30 also removed the Nautilus (Lot 1) as it was not “apples to apples” and a research error on my part], I came up with the following figures:
Loss (Original Hammer Purchase Price Total of $1,153,500 Minus New Hammer Sale Price Total of $797,500): -$356,000 (or -31%)
~
Total Original Purchase Price: $1,153,500
Buyer’s Premium on Original Purchase: $207,630 (assume 18%)
Total Original Cost/Investment (ESTIMATE): $1,361,130
~
Total New Sale Price: $797,500
Seller’s Premium on New Sale: $119,625 (assume 15%)
Total Net Return (ESTIMATE): $677,875
~
Total Loss on Investment (ESTIMATE): -$683,255 (or -50%)
But again, math is not my forte, and I’ve included my spreadsheet below [revised 7/30, with figures above adjusted accordingly] in the event I made any mistakes that require correction or recalculation (click for full resolution):
Of course, all of these numbers are rough guesses, but if one were to assume the general standards on Buyer’s Premium and Seller’s Premium, it is an interesting result, purely for discussion and debate purposes, as I am sure the actual numbers vary.
In other words, if someone were to buy memorabilia from Profiles in History over a number of years, and then resell the same material through the same auction house, once fees are taken into account (and this does not account for the additional potential costs of sales tax, shipping, housing, insurance, etc.), at least looking at these random examples, it certainly does not appear to be a profitable venture. In this case, an investor would have lost approximately half of their original investment (once all costs and fees are accounted for).
It was definitely an interesting exercise, in that the “apples to apples” opportunity put forth gives a rare opportunity to truly gauge the market and look at overall trends, which I would characterize as mixed. Getting back to Mark’s point that Profiles in History is “the number 1 place to sell Hollywood film and tv memorabilia in the world“, while that point is open for debate, I would theorize, based on this analysis, the Profiles in History may not be the number one source from which to buy entertainment memorabilia, if one is investment-minded and were to employ a strategy of buying from them with the intent of reselling the same material through them, along with the standard buyer’s premiums and selling premiums.
NOTE: This article was updated about 10 minutes after initial publication with edit to last sale price of the Ferris Bueller jacket, which also impacted the figures in the spreadsheet and analysis (I had originally referenced an earlier, lower sale price to an owner prior to The Dreier Collection).
Jason DeBord