A rare 17th-century American silver threepence coin, struck in 1652 at the Boston Mint, has sold for a record $2.52 million at auction. Discovered in an old cabinet in Amsterdam in 2016, the coin is one of only two known surviving specimens and is notable for its historical significance, representing New England's early defiance of British authority. The coin's sale highlights its rarity and the growing interest in early American numismatics.
A gold watch, originally gifted to a crew member by Titanic survivors, has been sold at auction for nearly $2 million. The watch, a piece of historical memorabilia, highlights the enduring fascination with the Titanic and its legacy.
A rare printing error in 2014 resulted in millions of $1 bills with duplicate serial numbers, making them potentially worth thousands if you find a matching pair. These bills, from Series 2013 with a "B" Federal Reserve Seal and specific serial number ranges, can be checked against Project 2013B's database.
Choice Privileges has launched an auction site where members can bid on various experiences using their points. The initial selection includes packages such as Detroit Red Wings tickets and a Chicago Bulls game, with bidding extending the auction end time by 5 minutes. Some pricing inconsistencies have been noted, but the potential for great opportunities with Choice points makes these auctions exciting for members to keep an eye on in the coming months.
The most expensive guitars sold at auction include iconic instruments used by legendary musicians such as Eric Clapton, Bob Dylan, David Gilmour, Elvis Presley, Kurt Cobain, John Lennon, and more. The list features guitars with historical significance, including those used in famous performances and recordings, with prices ranging from $959,000 to a record-breaking $6,010,000 for Kurt Cobain's Martin D-18E from Nirvana's MTV Unplugged performance.
Used car wholesale prices have dropped by 53% from their pandemic peak, while retail prices have only fallen by 36%. Auction prices fell 0.5% in December, and the Manheim Used Vehicle Value Index has dropped by 20.9% from its peak in May 2022. Despite rising inventories, prices continue to decline, indicating that consumers are on a buyers' strike. The historic plunge in prices is attributed to dealers being more cautious about overpaying and consumers being less willing to pay inflated prices.
The US government is set to test the appetite for its debt with auctions of $164 billion scheduled for this week. Concerns are rising that the market may struggle to absorb the flood of securities, as US debt and deficits continue to increase. The auctions come ahead of the US Federal Reserve Board's Open Market Committee meeting, where projections for the US economy and indications of future rate cuts will be closely watched. The changing nature of prospective buyers and the withdrawal of demand from the Federal Reserve and offshore investors have increased the reliance on US domestic investors to fill the gap. However, if demand weakens, the US may have to pay a premium to attract buyers, leading to higher interest costs and a larger deficit. Ultimately, the US will need to address its finances and reduce deficits to avoid potential financial stress in the bond market.
Ormond Gigli's photograph "Girls in the Windows" has become one of the most collected photographs in history, with over 600 signed and numbered copies sold over the last 30 years. The image, featuring models posing in the window frames of brownstones in Manhattan, has been offered at galleries worldwide and has been a popular item at auctions. With prices ranging from $15,000 to $30,000 per print, the photograph has potentially grossed around $12 million in total. The success of "Girls in the Windows" can be attributed to its unique sales strategy, which involved producing and selling a robust supply of prints in various sizes.
A signature bicorne hat worn by Napoleon Bonaparte is expected to fetch over €600,000 at an auction in Fontainebleau, France. The hat, one of only a few authentic ones remaining, was worn by Napoleon with the ends pointing towards his shoulders, making it easier for his troops to spot him in battle. Other items in the auction include a silver plate looted from Napoleon's carriage after the Battle of Waterloo and a wooden vanity case containing personal belongings. The collection is part of industrialist Jean-Louis Noisiez's collection of Napoleonic memorabilia.
An anonymous car collector from Bulgaria is auctioning off their Connoisseur Collection of German and Italian sports models and touring cars at RM Sotheby's Munich sale. The collection spans 47 years and includes rare and exceptional examples of various car types. Highlights include a 1955 BMW 501 "Sechszylinder" Cabriolet, a 1939 BMW 327/28 coupé, a 1936 BMW 319 two-seat sport cabriolet, a 1963 BMW 3200 CS, a 1954 Mercedes-Benz 220 coupé, a 1951 Mercedes-Benz 170 S Cabriolet A, a 1952 Mercedes-Benz 220 Cabriolet A, a 1971 Mercedes-Benz 280 SE 3.5 coupé, a 1963 Alfa Romeo Giulia 1600 Spider, a 1962 Alfa Romeo Giulietta Sprint, a 1967 Porsche 911 "Soft Window" Targa, and a 1986 Porsche 911 Carrera 3.2 Cabriolet.
The U.S. Department of the Treasury plans to offer $112 billion of Treasury securities to refund maturing notes and raise new cash from private investors. The securities include a 3-year note, a 10-year note, and a 30-year bond, which will be auctioned on specific dates in November. The Treasury intends to gradually increase coupon auction sizes in the upcoming quarter and continue evaluating adjustments based on borrowing needs. They also plan to increase auction sizes for 2-year, 5-year, 7-year, 10-year, and 30-year securities. Additionally, the Treasury plans to maintain TIPS auction sizes and implement modest reductions to short-dated bill auction sizes. They are actively evaluating the implementation of a regular buyback program in 2024.
A 1959 Porsche Junior tractor is set to be auctioned alongside a collection of 56 white Porsches at RM Sotheby's. The tractor, built for vineyard use, features an adjustable track width and an Art Deco-style bodywork. Expected to sell for $50,000 to $75,000, the auction also includes a 2015 Porsche 918 'Weissach' Spyder and a 1993 Porsche 911 Carrera RSR 3.8, both finished in Grand Prix White and expected to fetch millions. The auction will take place on December 1-2, 2023.
The classic-car market showed signs of slowing at the recent Monterey Car Week, with total sales reaching $397 million, a 16% drop from last year's record total. Inflation, higher interest rates, and volatile financial markets are believed to be contributing factors. Classic cars have been among the worst-performing collectible assets this year, with values falling 7%. The rise of online auctions sites is also impacting live classic-car auctions. The sell-through rate at Monterey Car Week fell to 68%, and high-profile disappointments included a 1964 Ferrari 250 LM and a 1960 Ferrari California Spyder failing to sell at auction. The most expensive car sold was a 1967 Ferrari 412P for $30.25 million. Experts suggest that the market may be suffering from an oversupply of cars and uncertainty about the preferences of younger collectors.
Phillips' "20th Century to Now" sale in London concluded the city's summer auctions with lackluster results, bringing in just over £9 million ($11.4 million), in contrast to the more successful auctions held by Christie's and Sotheby's. Several lots failed to reach their reserve prices, including works by Warhol, Banksy, and Kusama. The sale featured a collection from the late Thomas B. Lemann, with some works selling below their estimates. However, the auction ended on a high note with Albert Willem's artwork fetching an astonishing £180,000 ($290,239) against an estimate of £10,000-£15,000.
The Treasury Department will proceed with auctions for certain short-term Treasury bills next week, which some observers interpret as a sign that lawmakers may have additional time beyond the June 1 deadline to finalize a deal to raise the debt limit and avoid a catastrophic default. Treasury Secretary Janet Yellen has warned that the Treasury will likely exhaust its "extraordinary measures" in the first half of June. Congress is racing to finalize a deal to raise the U.S. debt limit and avert a default that could arrive as early as June 1 and hurt the economy.
