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Weekly News Roundup: June 28-July 2

by WorthPoint Staff (06/29/10).

In art, auction and collectibles news this week, we find a flag from Little Big Horn being run up the auction flagpole, more Michael Jackson memorabilia and a jazz art auction falling flat.

From CNN:
Custer’s last flag: Banner carried at Little Bighorn to be sold

Lt. Col. George Custer surprised the Lakota and Cheyenne at Little Big Horn. The tribes surprised him and his troops with many more warriors than anticipated. Custer and more than 200 soldiers died in that fateful battle. Now one of the sole surviving flags carried by Custer’s cavalry is up for auction. The relic was discovered under the body of a fallen soldier and was bought in 1895 by the Detroit Institute for the Arts for a whopping $54. The institute wants to use the proceeds from the October auction to buy more art. It will have more than 50 bucks to do so as the presale estimate is $2 million to $5 million.

From Rolling Stone:
Never-Before-Seen Michael Jackson Photos Up for Auction

It’s hard to believe, yet there are some photos of the King of Pop that have not been viewed publicly until now. Photographer Arno Bani took a series of portraits of Michael Jackson with sequined (what else) blue makeup around his eye. These 1999 shots may be had—maybe—for $1,200, the opening bid.

From RTT News:
Michael Jackson Glove Sells For $190K At Auction

On the other hand (sorry about that), the crystal-covered glove Jackson wore during his 1984 Victory Tour hammered down at $190,000. Julien’s Auctions figured the glove would bring in $30,000. So much for underestimating Jackson’s star power.

From The Wall Street Journal:
Jazz Art Auction Out of Tune

Talk about a sour note. While the sale of art influenced by jazz brought in $390,000, only three-quarters of the 76 pieces offered were sold, and the auction fell well short of the presale estimates. An oil by Norman Lewis was the top seller at $48,000, which was $2,000 less that its low estimate.

From The Associated Press:
Marilyn Monroe chest X-rays auctioned for $45,000

Many admired Marilyn Monroe’s exterior. Now, some lucky bidder can see her interior. X-rays of the blonde bombshell sold for $45,000. Julien’s Auction thought they would fetch maybe $3,000. A more usable item—a dress that graced the graceful Audrey Hepburn in “Funny Face”—sold for $56,250.

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