This locomotive-shaped iron, owned by a WorthPoint member who used WorthPoint’s consignment service to place it in auction, sold for $15,000 at auction, well above the estimated $10,000.
When WorthPoint member Marilyn Detwiler decided to use WorthPoint’s Ask a Worthologist service to value and then help her sell a locomotive-shaped iron, she hoped it would be a money train. After the auction, Marilyn is extremely happy with the results.
The E.B. Cosby Flat Iron, one of only two other similar examples have been documented, was put on the block at the Simmons & Company Auctioneers’ event held on August 5 and 6, at the Cleveland Marriott Airport Hotel, Cleveland, Ohio. At the time, the estimated sales price for the very rare figural iron was set at $10,000 or more.
With much anticipation Marilyn’s iron went up for bid on Aug. 6. They bidding got hot and heavy, with the high-bidder winning his prize with a bid of $15,000.
Ion Chirescu, a design engineer and investor from Romania, was the winning bidder, and he said he is in the process of creating a museum to house the collection of irons and trivets. He has been actively acquiring items for the museum over the past few years, and the E.B. Cosby Flat Iron will certainly be one of the museum’s centerpieces. His plans are for the museum, to be opened in Bucharest, to open its doors in 2012.
Chirescu, a Pressing Iron & Trivet Collectors of America (PICTA) member, has invited the members to visit his museum when it opens.
Prior to the sale, there is little to nothing is known about the maker of this piece, E.B. Cosby. It is possible that this unique figural iron was a presentation piece, or perhaps it was an example of the maker’s design and production capability.
With the additional weight of the alcohol fuel required to heat it, this locomotive-shaped steam iron would weigh in at a more than 10 pounds, and would have taken a woman with biceps like Popeye’s to use it. With almost pristine original paint and pin striping, it is apparent that it was hardly used, if ever.
Marilyn, who found the iron while out shopping with her mother years ago, now has an empty space on the hearth of her fireplace where this amazing iron took center stage for years. That empty spot is just waiting for Marilyn’s next Great Find.
Congratulations and good luck, Marilyn.
WorthPoint—Discover Your Hidden Wealth
Join WorthPoint on Twitter and Facebook.