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Weekly News Roundup: April 26-30

by WorthPoint Staff (04/26/10).

Art, antiques and collectibles headlines include a profitable Earth Day auction, a very profitable Victoria Cross auction and a treasure trove of paintings coming out of a bank vault.

From Reuters:
Green Auction nets $2 million for environment

In honor of Earth Day, Christie’s held a Green Auction last Thursday. In attendance at the event were such celebrities as actress Salma Hayek, “Today” show’s Matt Lauer, news anchor Brian Williams and actor Sam Waterson, long of long-running “Law and Order.” A day of golf with Bill Clinton went for $80,000, and a tour of Botswana with the editor-in-chief of “National Geographic” hit $150,000. An online silent auction (http://www.abidtosavetheearth.org/) continues until noon (ET) on May 6.

From the MailOnline:
First ever Victoria Cross fetches £250,000 at auction as Lord Ashcroft is defeated in bidding war

The Victoria Cross was first awarded in 1856 for extraordinary bravery in battle. For his heroic efforts from 1854 and 1855 in the Crimean War, Maj. John Simpson Knox received the honor. His cross along with some other items were sold at auction recently for more than $386,000, twice the presale estimate. You might think that would have made the heirs happy, and you might think wrong. They were hoping Lord Ashcroft would have been the winning bidder because he collects Victoria Crosses. Oh, and lest we forget, Major Knox lost his arm when hit by a cannonball. The supposed same cannonball also sold at auction.

From Bloomberg:
Picasso, Derain Cache, 40 Years in Vault, May Fetch $26 Million

An art dealer’s associate stuffed a bunch of paintings in a bank vault, where they languished for four decades. Paintings such as Andre Derain’s “Arbres a Collioure.” Now the trove of 141 items will be auctioned by Sotheby’s in June.

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