One of the more interesting lots in the RM Auctions sale in London this week – the highly customized Lotus Esprit that was converted into a submarine in the James Bond film The Spy Who Loved Me (1977) – hammered for £550,000, which translates to about $968,000 with fees. While it did not meet pre-sale estimate expectations that were set at £650,000-£950,000, it is a significant sale none the less, and certainly improves upon the price paid by the buyer who purchased the contents of a New York storage container for a mere $100 about 24 years ago. [Read more…]
Editorial: December Entertainment Memorabilia Pop Culture Auction Review and “The Bubble”
Now that I am back in the States, I thought I would take the time to review the results of the overwhelming number entertainment memorabilia auctions that took place throughout the month of December. Interestingly, while I personally met with a number of participants in our field while traveling in England and France this month, the one unsolicited and seemingly universal topic brought up by all was the question of “the Bubble”. Is there a bubble? If so, what are the contributing factors, and when and how will it burst? And what would the consequences be on our art market? Since the results of these high profile auctions speak to these notions and related speculation, I thought it would make sense to frame my results analysis in this discussion. [Read more…]