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Home > News, Articles & Multimedia > Worth Points > Weekly News Roundup: February 14 to February 18

Weekly News Roundup: February 14 to February 18

by WorthPoint Staff (02/17/11).

In art, antiques and collectibles news, we find some heavy-duty results for Sotheby’s and Christie’s, a demonstration calling the Sotheby’s auction an “Orgy of the Rich” and a former Guns N’ Roses guitarist cleaning house.

From The Economist:
Bringing home the Bacon

Things are looking better and better for Sotheby’s and Christie’s. Last week’s Impressionist and modern-art sales in London brought in almost $400 million. “La Lecture” by Picasso went to an anonymous bidder for more than $36 million. Its presale estimate was for between $19 million and $29 million. A Francis Bacon tryptich engendered some hot bidding and finally gaveled down at $27 million.

From The Wall Street Journal:
Sotheby’s Sale Defies Demonstrators

Demonstrators in the Middle East? Why not Sotheby’s auction in London this week? A group of demonstrators tossed around fake £50 notes before they were escorted out. Their cause? They were protesting possible budget paring of arts programs. Outside was a sign that read “1 Warhol = 1,222 tuitions.” (A Warhol sold for $5 million.) Another sign proclaimed the event an “Orgy of the Rich.” Nonplussed, the “orgy” participants spent $71 million. One collector remarked, “It’s fun to see people stand up for what they believe in. An orgy of the rich? They’re not exactly wrong.”

From Reuters:
Rocker Slash to sell car, guitars in auction

Okay, everyone, let’s name the members of the hard-rock band Guns N’ Roses. Okay, there were several others in the group besides Axl Rose, with the composition changing over the years. One of the earlier members was guitarist Slash. Now with a move to a new house, Slash is going to dispose of some of his “clutter” that he picked up over the years. Julien’s Auctions will be selling, among a lot of other things, a 1966 Corvette Stingray (complete with fluffy dice), expected to go for between $90,000 and $100,000, a bunch of Southeast Asian furniture, model dinosaurs and 14 of his some 100 guitars. Most of the proceeds will go to a charity that helps abused and homeless adolescents.

From BBC:
Biddestone time capsule up for auction

The village post office sat empty for 40 years. Person or persons unknown chronicled life in Biddestone, England, by collecting items such as a 1917 postcard, snapshots of schoolchildren from 1924 and news stories. The find will be auctioned February 19 and included in the sale is the original post-office sign.

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