16 Highest Selling Items in Auction History
Highest
Selling U.S. Government Auction
U.S. Wireless Spectrum Sale
If you
live in the United States (and aren’t a total lush) then you remember the
government advertising campaign that was launched in 2008 to inform the public
about the U.S. digital television transition. On June 12, 2009, all full power
TV stations in the U.S. ceased analog broadcasting. Before the change, the
analog TV broadcasting spectrum was the accepted method used for transmitting
television signals for free over-the-air TV programming. On January 24, 2008,
the U.S. Federal Communications Commission (FCC) opened an auction and accepted
bids on a United States 700 MHz FCC wireless spectrum. It was officially known
as Auction 73.
The
event sparked major controversy between some of the largest telecommunication
companies in the world, including Verizon Wireless, AT&T, and Google Inc.
The 700 MHz spectrum that was being sold was previously used for analog
television broadcasting, specifically UHF channels 52 through 69. After the change
to digital television was announced, the FCC ruled that these TV frequencies
were no longer necessary for broadcasters. The auction divided the UHF spectrum
into 5 blocks. The most highly publicized block was the open access C-Block,
which was sold to Verizon for $4.74 billion. In all, Auction 73 raised an
astounding $19.59 billion.
Highest
Selling Painting
Jackson Pollock - No. 5, 1948
Jackson
Pollock was an influential American painter and major figure in the abstract
expressionist movement of art. He had a volatile personality and struggled with
alcoholism during his lifetime. In 1956, Jackson Pollock died in a
single-vehicle car crash. He was only 44-years-old. No. 5, 1948 is a famous
painting by Jackson Pollock. The portrait was completed on an 8 foot (243.84
cm) by 4 foot (121.92 cm) sheet of fiberboard. It contains a thick amount of
brown and yellow paint, forming a nest-like appearance. Jackson Pollock used
his signature style of splattered paint when creating the masterpiece. No. 5,
1948 was originally owned by Samuel Irving Newhouse and displayed at the Museum
of Modern Art, but in 2006 it was sold.
According
to numerous press releases, the painting was sold by David Geffen, founder of
Geffen Records, to David Martinez, who is the managing partner of Fintech
Advisory Ltd. The sale was reportedly brokered by Sotheby’s auctioneer Tobias
Meyer and the painting was purchased for the price of $140 million. This makes
Jackson Pollock’s No. 5, 1948 the highest selling painting in auction history.
Despite evidence that the artwork was sold for $140 million dollars, David
Martinez has released a statement saying that he does not own the painting. No.
5, 1948 will continue to rise in value, as very few Jackson Pollock paintings
remain. A different painting by Pollock named Blue Poles is thought to be more
valuable then No. 5, 1948. Blue Poles is owned by the National Gallery of
Australia in Canberra.
Highest Selling Sculpture
Alberto Giacometti - L'Homme qui marche
I
Alberto
Giacometti is a famous Swiss sculptor and painter. He was a key member of the
Surrealist Movement and created hundreds of pieces of art during his lifetime.
His works are featured in museums all over the world and are extremely
valuable, especially his sculptures. L'Homme qui marche I (The Walking Man) is
the name given to any one of a series of cast bronze sculptures created by
Alberto Giacometti in 1961. The sculptures comprise six numbered editions plus
four artist proofs. They depict a lone man in mid-stride with his arms hanging
at his side. The sculptures are life-sized and measure 183 cm (72 in). The
collection has been described as "both a humble image of an ordinary man
and a potent symbol of humanity". L'Homme qui marche has become one of the
most iconic images of modern art.
In February
of 2010, edition number two of the sculpture was placed for sale at Sotheby's
auction house in London. It was the first time in 20 years that a human sized
Giacometti figure of a walking man had been sold at auction. It was initially
expected to bring between £12 and £18 million, but only eight minutes after
being placed for sale the sculpture was purchased by Lily Safra, widow of the
prominent Lebanese banker Edmond Safra for £58 million. After the buyer's
premium, the price reached £65 million (US$103.7 million). This made the second
edition of L'Homme qui marche I the highest selling sculpture in history. In
fact, it jumped into the Top 10 most valuable items ever sold at a public
auction. The previous record holder was the 5,000-year-old Mesopotamian statue
named Guennol Lioness, which was sold in 2007 for $57.2 million.
Highest
Selling Piece of Furniture
Badminton Cabinet
Henry
Scudamore, 3rd Duke of Beaufort, lived from 1707 to 1745. At the age of 19,
Duke Scudamore commissioned the construction of a chest that would later become
known as the Badminton Cabinet. This was the mid-life crises are like when
you’re a duke and only live to 38. The Badminton Cabinet consists of an ornate
set of drawers. It was developed in Florence and the chest is made of ebony
wood inlaid with amethyst quartz, agate, lapis lazuli and many other precious
gems. The cabinet is a true masterpiece, as it combines architecture, sculpture
and painting with mosaic work and hard precious stones. The chest measures 386
cm high by 232.5 cm wide.
The
cabinet derives its name from Badminton House in Gloucestershire, England. In
2004, the Badminton Cabinet was auctioned off for an astounding $35 million.
The item was purchased by Hans-Adam II, Prince of Liechtenstein. The sale made
the Badminton Cabinet the most valuable piece of furniture in the world. It is
quite possibly the most important piece of decorative art to have been
commissioned by a British patron in 300 years. The chest is currently on
display in the Palais Liechtenstein in Vienna, Austria.
Highest
Selling Car
1936 Bugatti 57SC Atlantic
Jean
Bugatti is one of the most renowned automotive designers of the early 20th
century. In 1934, he developed the first Bugatti Type 57 automobile. The Type
57 was a new design of car and Bugatti would produce 710 different Type 57s
between 1934 and 1940, including the famous 1936 Bugatti 57SC Atlantic. The two
basic variants of the car were the original type 57 and the lowered Type 57S.
Sadly, the production of the Type 57 was stopped after Jean Bugatti died in an
automobile accident in 1939. He was only 30-years-old.
The
Atlantic body Type 57S is considered by some to be the most beautiful pre-war
car. The vehicle features flowing coupe lines with a pronounced dorsal seam
running front to back. Jean Bugatti produced only four Type 57S Atlantics
during his lifetime and two survive today. One is a 1938 Type 57SC Atlantic,
which is currently in the collection of Ralph Lauren. The second is a 1936 Type
57SC Atlantic, which was previously owned by Dr. Peter Williamson. Peter
Williamson passed away in 2008 and his Atlantic was auctioned off in May of
2010.
The
car set a world record and was sold for between $30 and $40 million. It was
purchased by the Mullin Automotive Museum located in Oxnard, California. The
previous sales record for an automobile sold at auction was a 1957 Ferrari 250
Testa Rossa, which sold in Maranello, Italy, in May 2009 for $12.2 million. The
1936 Bugatti 57SC Atlantic easily became the most valuable car to change hands
at auction. The vehicle has been described as a piece of engine powered art.
Highest
Selling Book
Codex Leicester
The
Codex Leicester is a collection of scientific writings by Leonardo da Vinci.
During the life of Leonardo da Vinci, he kept many journals and text books
documenting his thoughts and experiences. He prized his journals and most of
them were written in a mirror-image cursive. He probably did this in order to
keep them secret. The Codex Leicester is the most famous of all Leonardo da
Vinci scientific journals. It is named after the English patron Thomas Coke,
who purchased the text in 1717. Coke would become the 1st Earl of Leicester
during his lifetime. The Codex is quite exquisite and provides a rare insight
into the inquiring mind of Leonardo. In the text, he hypothesizes on many
topics. Most notably he makes observations and theories on astronomy, the
properties of water, rocks, fossils, and celestial light.
The
text was written on 18 sheets of paper, each folded in half and scripted on
both sides, ultimately forming a complete 72-page document. In 1994, the Codex
Leicester was purchased by Bill Gates. He paid $30.8 million for the
masterpiece, making the writings the most expensive book ever sold at auction.
Bill Gates wants the world to share in the joy of the text, so he puts it on
display in a different museum each year. In 2004, the book was exhibited in the
Château de Chambord and in 2005 in was on display in Tokyo. In 2007 the Codex
Leicester was the centerpiece of a two-month show in Dublin, Ireland.
Highest
Selling Chair
Eileen Gray Chair
Eileen
Gray was an Irish furniture designer and architect. Today, she is highly
recognized as a pioneer of the Modern Movement in architecture. During her
career, Eileen became known for the innovative Bibendum Chair, which was one of
the 20th century’s most recognizable furniture designs. Eileen Gray contained
an exclusive customer base and developed some incredible pieces of furniture.
She caught the eye of fashion designer Yves Saint Laurent, who helped propel
Eileen’s public image.
In
fact, Yves Saint Laurent went out of his way to purchase many of her pieces. In
2009, Christie’s auction house in Paris sold the monumental private collection
of Yves Saint Laurent and Pierre Bergé. The antiques raised a record-breaking
£370 million (US$490 million). One of the items sold was a "Dragons'"
armchair created by Eileen Gray. The chair was sold for £21.9 million (US$28
million), setting an auction record for a piece of 20th century decorative art.
Highest
Selling Diamond
Wittelsbach Diamond
The
Wittelsbach Diamond was a 35.56 carat fancy deep blue colored diamond with
internally flawless clarity. In 2008, the Wittelsbach Diamond was sold at
Christie's auction house in London for a record breaking sum of $23.4 million.
It was purchased by Lawrence Graff and the amount is currently the highest
price ever paid for a diamond at auction. The diamond is not the largest in the
world, but the clarity and color is amazing. The Wittelsbach Diamond has a long
and storied history. It has at one point been part of the Austrian and the
Bavarian Crown jewels. Many people have drawn comparisons to the Hope Diamond,
which is also a deep blue colored diamond. Claims have been made that the
Wittelsbach Diamond was at one point cut from the Hope Diamond.
However,
in 2010, both diamonds were studied in depth by the Smithsonian Institution and
found to be two different stones. The Wittelsbach Diamond originated from the
mines of the former Indian kingdom of Golkonda. In 2010, the owner of the
diamond, Lawrence Graff, revealed that he had altered the diamond and had it
cut by three separate workers in hopes of removing flaws. The Wittelsbach
Diamond became four carats lighter (31.06) and was renamed the
Wittelsbach-Graff Diamond. This has upset many historians, who are claiming
that the recutting has made the famous stone unrecognizable and that its
historical integrity has been compromised.
Highest
Selling Piece of American Furniture
John Goddard Desk
The
Townsend and Goddard families were two Quaker families that were part of a
large cabinetmaking community centered in the Easton's Point neighborhood of
Newport, Rhode Island. The Townsend and Goddard families have a long history of
cabinet making in the Newport area. In fact, twenty-one members of successive
generations of these two intermarried families worked as cabinetmakers over a
period of 120 years. The family’s most famous desk was created by John Goddard
in the 1760s and sold to the merchant Nicholas Brown. The item is a six-shell
desk-bookcase. It is a bonnet-topped mahogany secretary, robustly carved with a
block-and-shell front.
The
desk is 113 inches (287 cm) tall and is one of the nine six-shell Newport
secretaries known to survive. The item is one of the most prestigious pieces of
American furniture in the world. In 1989, the desk was sold by the family of
Nicholas Brown for $12.1 million. At the time, the desk set a record for the
highest selling auction item that was not a painting. After taking the cost of
inflation into account, the 1760s John Goddard Desk is almost topping the list
of the most valuable pieces of furniture in the world.
Highest
Selling Coin
1794 American Silver Dollar
In May
of 2010, a 1794 American Silver Dollar set a world mark when it was auctioned
off for $7.85 million. The coin surpassed the record that was previously held
by a 1933 Double Eagle that was sold for $7.59 million in 2002. The 1794 Silver
Dollar is a rare coin. In 1792, the U.S. Coinage Act was passed and it
authorized the production of silver dollars. In 1794, the first silver dollars
were coined and there were precisely 1,758 of them made, with approximately 150
remaining.
The
1794 Silver Dollar is unique to others, as it features a flowing hair design.
The coin that set the auction record was in great shape and rated MS-66 (PCGS).
It has been determined that it is the earliest struck example of the 1794
Silver Dollar still in existence. The coin was purchased by the Cardinal
Collection Educational Foundation of California. The foundation plans to
display it at various locations and museums in the world.
Highest
Selling Musical Instrument
Ex-Vieuxtemps - Giuseppe Guarneri Violin
Giuseppe
Guarneri was an Italian luthier from the Guarneri house of Cremona. He lived
from 1698 to 1744 and is highly regarded as one of the finest violin makers to
ever live. The only other man to rival his work was the Italian crafter Antonio
Stradivari. In 1741, Guarneri created his most prized violin. A piece that was
once owned by famous Belgian composer and violinist Henri Vieuxtemps. The
instrument also has a connection with Italian violinist Niccolò Paganini. It
was Paganini that first heard Vieuxtemps play the violin at the age of 14, and
predicted that “the boy would definitely become a great man.”
In
2008, Ex-Vieuxtemps became the highest selling musical instrument of all time
when it was auctioned off for $3.9 million. The violin was purchased by Russian
lawyer and violinist Maxim Viktorov. A few months after buying the violin,
Viktorov held a private concert and hired musician Pinchas Zukerman to play the
famous instrument in front of a group of Russian socialites. Prior to the sale
of the Ex-Vieuxtemps, the highest selling musical instrument was a violin named
The Hammer, which was made by Antonio Stradivari and sold in 2006 for $3.54
million.
Highest
Selling Baseball Card
T206 Honus Wagner
Honus
Wagner was a professional baseball player who was a member of the National
League from 1897 to 1917. He was nicknamed the Flying Dutchman due to his speed
and German heritage. During his career, Honus Wagner won eight batting titles
and led the league in stolen bases five times. He was one of the first five
members elected into the baseball hall of fame and received the second highest
vote total, behind only Ty Cobb. Most baseball historians consider Honus Wagner
to be the best shortstop to ever play the game of baseball. The T206 Honus
Wagner baseball card was designed and issued by the American Tobacco Company
(ATC) from 1909 to 1911 as part of its T206 series. Honus Wagner did not like
the card’s distributer and demanded that it not be sold, so only 50 to 200 T206
Honus Wagner baseball cards were ever produced.
There
is one particular T206 Honus Wagner card that has a long and controversial
history. It has become known as the "Gretzky T206 Honus Wagner" card
because in was purchased by the hockey legend in 1991. In 1995, Gretzky resold
the card to Wal-Mart and Treat Entertainment for $500,000. Wal-Mart used the
card as the top prize in a promotional contest, which was eventually won by a
Florida postal worker. The man ended up auctioning the card off at Christie's
auction house and it was purchased by collector Michael Gidwitz for $640,000.
In 2000, Gidwitz sold the card on eBay for $1.27 million. In 2007, the T206
Honus Wagner was auctioned off once again and this time it raised $2.35
million. Six months later it was sold to a California collector for $2.8
million.
Highest
Selling Stamp
Treskilling Yellow
In
1855, Sweden issued its first postage stamps and they were used as currency. It
total, five stamps were produced and they depicted the Swedish coat of arms,
with denominations ranging from 3 to 24 skillings banco. The 3-skilling banco
stamp was printed in a blue-green color, while the 8-skilling note was printed
in a yellowish orange shade. It is unclear how the error occurred, but it seems
that at some point the 8-skilling printing plate was mistakenly replaced with a
3-skilling plate. This caused a very small number of 3-skilling stamps to be
printed in the yellowish orange shade that usually represented an 8-skilling
stamp. In 1886, the first and only Treskilling Yellow was discovered. The stamp
became internationally known in 1894 when it was purchased by Philipp von
Ferrary for an astounding 4,000 gulden. At least, we’re told it’s astounding.
As
time passed, no other "yellows" surfaced. It has become clear that
the stamp is not only rare, but quite possibly the only surviving example. The
Treskilling Yellow has been sold numerous times in its history and currently
holds the world record sales price for a postage stamp. In 1996, the stamp was
sold for 2.5 million Swiss francs. Similar to other high price auction items,
the selling party and buyer are not required to release their names or the sale
amount. This makes it difficult to report on these sales, but in May of 2010
the Treskilling Yellow was sold by David Feldman auction house in Geneva,
Switzerland. The company released a statement saying that the stamp sold
"for at least the $2.5 million price it set a record for in 1996.” The
buyer was an "international consortium" and the seller was a
financial firm looking to settle the debt on a foreclosed estate. All bidders
in the auction were sworn to secrecy.
Highest
Selling Comic Book
Detective Comics #27 (May 1939)
Detective
Comics is an American comic book published monthly by DC Comics. The story is
the longest continually published comic in the United States and has been in
existence since 1937. Detective Comics is best-known for introducing the iconic
superhero Batman in the May 1939 issue #27. For this reason, Detective Comics
#27 has become one of the most valuable and sought after comic books in the
world. The issue features a great adventure of the Crimson Avenger, with the
Byzantine crime fighter taking on a gambling ring that kills everyone who
doesn't pay their debts.
In
February of 2010, a copy of Detective Comics #27 was offered in a Heritage
comic book auction. It was in pristine condition and the issue sold for the
amount of $1,075,500. That made this copy of Detective Comics #27 the highest
selling comic book in history, more than tripling the previous auction record,
which was held by a copy of Action Comics #1. The auction price far exceeded
published estimates and it was a historic moment when a single comic book sold
for more than $1 million.
Highest
Selling Action Figure
1964 G.I. Joe Prototype
G.I.
Joe is a line of action figures that is produced by the toy company Hasbro. The
term G.I. stands for Government Issue and the first G.I. Joe toy was released
in 1964. In developing the toy, Hasbro wanted to create a realistic action
figure, so they decided to represent the four branches of the U.S. armed
forces, including the Soldier (Army), Action Sailor (Navy), Action Pilot (Air
Force) and Action Marine (Marines). The original G.I. Joe toy was approximately
12 inches tall and their development directly led to the coining of the term
"action figure." It was an attempt by Hasbro to create a toy that was
targeted towards boys, to match the high success of Mattel’s Barbie, which was
first released in 1959.
In the
United Kingdom, the G.I. Joe toy line was licensed to Palitoy and their figures
were known as Action Man. In July of 2003, a 1964 G.I. Joe action figure
prototype was auctioned off in San Diego for $200,000. The toy is hand crafted
and with the sale it became the most valuable action figure in the world. In
comparison, the most valuable Barbie doll fetched $17,000 dollars in 2008. One
of the most remarkable things about the G.I. Joe prototype is how closely the
head resembles what the actual toy ended up looking like.
Highest
Selling NES Video Game
Stadium Events
Stadium
Events is the English title given to the Japanese video game Running Stadium.
The game was released for the Nintendo Entertainment System in 1986. The North
American version of Stadium Events is universally accepted as one of the rarest
licensed NES games in the world. In 1987, Nintendo released the Power Pad and
subsequently stopped production on all Family Fun Fitness-branded games.
This
is why only 2000 copies of Stadium Events were made in North America, of which
an estimated 200 reached consumers before being recalled. On February 26, 2010,
a brand new factory sealed copy of Stadium Events was sold on e-bay for
$41,300. The unexpected amount nearly doubled the previous sales record for a
NES game.
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