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Home > News, Articles & Multimedia > Worth Points > Weekly News Roundup: July 5 to July 9

Weekly News Roundup: July 5 to July 9

by WorthPoint Staff (07/05/10).

In this week’s art, auction and collectibles news, we find flags, flags and more flags, a renowned photographer and a masterpiece that comes out of the closet.

From The Washington Post:
Howard County man owns 800 U.S. flags, thousands of pieces of memorabilia

Vexillologist Nick Artimovich (he’s a student of flags, not someone who gets annoyed easily) takes his collecting seriously. For more than 30 years, he’s spent $75,000 on his collection of almost 800 flags. The oldest is from the 1840s when there were only 28 states.

From AOL News:
50-Star Flag Designed by Ohio Teen Turns 50

In other flag news (hey, it’s Glorious Fourth tine), the flag we salute today is 50 years old. How it came to be is quite a story. A high-school student was given an assignment to come up with something novel. So Robert Heft, figuring that Hawaii and Alaska would soon be granted statehood, created the 50-star flag. For his trouble, he got a B-. He received more appreciation, however, from President Dwight Eisenhower. Heft’s design was chosen over 1,500 others. Not bad for a B-.

From The Associated Press:
Richard Avedon photos headed to Paris auction

Richard Avedon always had a way with women—at least when he photographed them. Models Jean Shrimpton, Twiggy and Verushka were beneficiaries of his creative genius. Men fared pretty well, too. More than 60 of his photos will be auctioned by Christie’s in the fall. Avedon’s “Dovima with elephants” is expected to bring in between $500,000 to $700,000.

From Bloomberg:
Yale Gallery Makes `Thrilling’ Discovery of a 1617 Velazquez

Another example of why it’s good to check your storage rooms. Yale University did, and lurking in one was an unsigned Diego Velazquez. What with endowments being down, it was a fortuitous find. The last time a work by the 17th-century master hit the market, it went for $17 million.

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