28.08.2024
In This Issue
🎥 Indy’s Iconic Hat Finds New Home
🪷 Monet’s Water Lily Sets the Scene for Christie’s Hong Kong Debut
🎰 Rudi Klein’s Secret Car Collection Turns Junkyard to Jackpot
🖼️ Classic And Contemporary Artists Shine In July’s Art Auctions
💸 US Treasuries May Go From Diamond Worth to Crackerjack Value
🥤 McDonald’s Collector’s Cups Turn Fast Food into Fast Cash
🏎️ Delinquent-Ferrari Speeds Toward New Owner
⚾ Ruth’s Jersey Breaks Records
Indy’s Iconic Hat Finds New Home: Harrison Ford’s famous brown fedora from ‘Indiana Jones and the Temple of Doom’ just sold for a stunning $630,000 at auction. The hat, which once battled the perils of film production alongside Ford, was expected to fetch between $250,000 and $500,000. It belonged to late stunt performer Dean Ferrandini, who wore it while standing in for Ford. Propstore also shared that the fedora had foam inserts to keep it snug during filming. Other highlights from the auction included a ‘Return of the Jedi’ scout trooper helmet that sold for $315,000 and a ‘Scream’ ghost costume for $270,900.
Monet’s Water Lily Sets the Scene for Christie’s Hong Kong Debut: Christie’s Hong Kong is set to debut its new Asia-Pacific headquarters with a high-profile auction on the 26th of September, showcasing a Claude Monet Nymphéas painting that hasn’t been on the market for 125 years. This early work from Monet’s iconic water lilies series is expected to command between HK$200 million and HK$280 million ($25 million-$35 million). Once held by Monet’s family, the painting now joins a prestigious group of Monet’s works in major museums worldwide. ‘This piece is a rare gem from Monet’s pioneering series still in private hands,’ said Cristian Albu of Christie’s. The new 50,000 sq ft headquarters, opening on the 20th of September, will also feature innovative design by Zaha Hadid Architects, setting a new standard for art sales in Hong Kong.
Rudi Klein’s Secret Car Collection Turns Junkyard to Jackpot: RM Sotheby’s is set to stun the automotive world with ‘The Junkyard: The Rudi Klein Collection’ auction in October 2024. Rudi Klein, a German immigrant who founded a Los Angeles scrapyard in 1967, amassed a secret stash of European classics behind barbed wire. This rather surprising but nonetheless pretty legendary collection features rare finds like a 1935 Mercedes-Benz 500K ‘Caracciola’ Special Coupe, a 1955 Mercedes-Benz 300 SL ‘Alloy’ Gullwing, and the only surviving Horch 855. There are also some hints of multiple Lamborghini Miuras and low-mileage Porsches. The full catalogue will be available in September.
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E30 M3
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Corvette C2 Cabriolet
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Clio V6 Phase 1
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Ruth’s Jersey Breaks Records: Babe Ruth’s iconic ‘called shot’ jersey from the 1932 World Series just smashed records, selling for $24.1 million (£18.1 million) at Heritage Auctions, making it the most expensive sports collectible ever. The jersey, once auctioned for $940,000 in 2005, was recently confirmed as the one Ruth wore during his legendary moment, pointing his bat before hitting a home run. This sale surpasses the previous $12.6 million record set by a 1952 Mickey Mantle card. The buyer remains anonymous, but they’ve nabbed a true piece of American sports legend.
McDonald’s Collector’s Cups Turn Fast Food into Fast Cash: McDonald’s recent Collector’s Meal, featuring six nostalgic plastic cups with characters like Barbie, Hot Wheels, and Hello Kitty, has sparked a resale frenzy. Launched on August 13, the cups are now fetching eye-popping prices on eBay, with a single sealed cup listed for as much as $42,069. While most sets are selling for around $100, individual cups range from $62 to $1,300. The meal, which includes a choice of breakfast or lunch items, is becoming a collector’s goldmine as sealed cups continue to attract high bids.
Delinquent Ferrari Speeds Toward New Owner: Tokyo’s tax office is auctioning off a Ferrari NV 488 Pista Spider, seized from a tax delinquent. With an estimated value of ¥56.8 million ($390,000), this high-octane sports car is set to be the star of an online auction next month. The auction also features luxury real estate, a rare bottle of Hibiki 30 whisky and even a golf course starting at ¥141 million. Notably, past auctions have seen dramatic price hikes, with diamonds fetching far above their starting bids. The Ferrari, boasting over 700 horsepower and a 2.8-second acceleration to 100 km/h, could command a premium beyond its estimate.
👍 Classic And Contemporary Artists Shine In July’s Art Auctions: While summer often quiets the art world, we can see that July’s Old Master auctions were anything but. Christie’s London led the charge with Titian’s ‘The Rest On the Flight Into Egypt’ fetching $22.3 million, followed by Quentin Metsys’s ‘The Madonna of the Cherries’ at $13.5 million. The month also saw notable sales from across the globe, including Pan Tianshou’s ‘Four Eagles’ selling for $4 million in Beijing and Brett Whitely’s ‘Her’ going for $1.1 million in Melbourne.
‘July’s art auctions demonstrated that even during the quieter summer months, exceptional results can be achieved when rare and significant works are offered. Whether featuring Old Masters or Contemporary artists, these global sales underscore the ongoing demand for a diverse range of artistic periods.’
Anna Oerter
Asset Strategy Manager at Timeless Investments
If you’d like to add some contemporary and ultra-contemporary artists to your portfolio, then take a look at some of our art assets:
Gerhard Richter
MV. 58, 2011
Keith Haring
Pop Shop I Plate 4, 1987
Nicolas Party
Untitled (Oyster), 2011
👎 US Treasuries May Go From Diamond Worth to Crackerjack Value: Veteran macro investor Luke Gromen has issued a stark warning to US Treasury holders, suggesting their investments could soon be unprofitable. Speaking with Nicole Shanahan, Gromen criticised the US’s reliance on digital assets and real estate rather than manufacturing, calling it a national security risk. He predicts that while Treasury investors will get their principal back, the dollar’s purchasing power will drop significantly, turning what is now valuable into something much less. Essentially, Gromen argues that Treasury bonds could become as worthless as crackerjack prizes compared to their current value.
‘When US Treasury bonds go from being as valuable as a diamond to being worth no more than a crackerjack, collectibles offer a reassuring constant. They are investments that can endure for generations, far removed from the fluctuations of paper money.’
Malte Häusler
Co-Founder and CEO at Timeless Investments
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