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Home > News, Articles & Multimedia > Worth Points > Weekly News Roundup: March 21 to March 25

Weekly News Roundup: March 21 to March 25

by WorthPoint Staff (03/23/11).

Art, antiques and collectibles headlines include the getaway of a former Russian president, a lawsuit over wine going sour and a record-setting vase.

From Reuters:
Russia to auction favoured Yeltsin hideaway

Being president of Russia certainly has its perks. Take Boris Yeltsin. He had a vacation house with such amenities as a tennis court, sauna, billiard room, hotel, main house and four cottages. His successors, Vladimir Putin and Dmitry Medvedev, favored a getaway in warmer climes. Since Yeltsin’s dacha is no longer being used, the government has put it up for auction with a starting bid of $10 million. That doesn’t get you the 124 acres surrounding the compound. Those are being sold separately or can be leased.

From The Wall Street Journal:
Billionaire loses NY lawsuit over rare wine

Billionaire William Koch had a bone to pick with Christie’s. It seems he felt the auction house had knowingly sold him some wine that was supposed to have been owned by Thomas Jefferson.
Be that as it may, a judge ruled that the statue of limitations had run out.

From UPI:
Ming-style vase sells for record price

It was standing-room only at Freeman’s auction house in Philly recently with 15 phone lines ready to accept bids and 70 people making online bids. The turnout was caused by an 18th-century Qianlong-period vase. While a similar vase sold in 2008 at Sotheby’s for $750,000, this one brought in almost $1.4 million.

From gothamist:
Mean Mr. Judge Rules Auction House Must Pay For Lennon Suit

Let us think back a few weeks. It was then that the white suit John Lennon wore on the cover of the “Abbey Road” album was sold at auction for $48,000. Sometimes, however, things aren’t always as simple as they seem. In this case, the seller of the suit, a self-proclaimed psychic named Biond Fury, proved to owe a ton in back rent. A judge has ruled that the auction house has to fork over $21,000 from the sale to the landlord.

From the Boston Herald:
Sacred Cowens trophy is up for auction

Dave Cowens, the redheaded Boston Celtics center, was called one of the greatest 50 NBAers in history. In 1973, he was awarded the league’s MVP trophy. Now, that trophy and other collectibles are going on the block because, as Cowans has said, ‘I’m getting older, what am I gonna do with all this stuff?” So, if you are a Celtics fan, get your paddle ready.

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