Blog
Space Age Insurance Covers
The laws of supply and demand are key tenets of the art and collectibles world, as we see in dramatic fashion time and time again. Stradivarius violins selling in the millions or, per our previous post, one-of-a-kind xrays of Marilyn Monroe selling for $45,0000. A recent article I saw on www.ukinsurancenet.com, though, shows a very unique motivation behind cashing in on the allure of rarity.
Seeing Through the Value of Monroe's X-rays
One of the most talked about auction lots in recent weeks was the set of Marilyn Monroe chest x-rays that sold at the Hollywood Legends auction run by Julien's Auction at the Planet Hollywood Resort and Casino in Las Vegas. The selling price was $45,000. It seems that even the auctioneers were surprised by the figure as their estimated price was $800-$1000. Also, in Julien's Auction press release about the sale, the x-rays are just briefly mentioned while an entire paragraph is devoted to the therapy couch Monroe used in her doctor's office from 1960 until the time of her death.
Old Influencing the New Influencing the Old
The "style and spirit" sale held by Christie's (South Kensington, London) held on February 23, 2010 lived up to it's name. In a surprise result, an 1840s stuffed crocodile in a William IV period mahogany and glass cabinet on casters sold for $17,495.
The Case of the Golden Spike
EnservioSelect was asked to determine if a “Golden Spike” - made as a commemorative of the 1869 joining of the Union Pacific and the Central Pacific tracks creating the first transcontinental railroad in the US - could be worth the $3,000 claimed by the Insured. The Insured purchased the spike in 1979 along with a Special Edition “Golden Spike” rifle made by Winchester in 1969 to commemorate the 100th Anniversary of the historic joining of the tracks.