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Weekly News Roundup: October 19 to October 23

by WorthPoint Staff (10/20/09).

In this week’s art, antiques and collectibles headlines, we find an art collector turning down $1 million for stolen Warhols, Elvis’ hair and Streisand’s “A” selling high and a storied Parisian restaurant cleaning out its cellar and auctioning some of the wine.

From The New York Times:
Insurance Waived in Warhol Theft Case

Hmmm. As noted here earlier, 10 Andy Warhol silkscreens valued at a million dollars went missing from a West Hollywood home. If the lack of a forced entry had L.A. police wondering, the new wrinkle in the case must have them totally baffled. The owner has said thank very much, but no thanks to his insurance company, which was offering him reimbursement. Huh? Richard Weisman says he doesn’t want the company going through his records.

From the New York Times:
Elvis’s Hair, Streisand’s Costumes Sold at Auction

In another update, that shock of Elvis Presley’s hair sold at auction for $18,300 even though there was no DNA authentication of it. It, however, was not the top seller. That honor went to a monogrammed shirt that the King of Rock may have worn for a magazine shoot. The presale estimate was between $2,000 and $4,000. When the hammer came down, the shirt sold for $62,800.

From Bloomberg:
Streisand’s Extra ‘A’ Sells for $8,750 in Auction for Charity

Bloomberg gives more details on the Streisand auction. One cute thing that sold was a wooden “A” painted gold. The clever Julien’s Auctions called it the missing letter from Barbra’s name. It went for almost 30 times its presale high estimate of $300.

From The Associated Press via Auction Central News:
Fabled French restaurant to sell surplus spirits, wine

If you’ve ever had the rapturous pleasure of dining at Tour d’Argent, which is perched above the Seine in Paris, you already know the restaurant has an incredible wine cellar. Since the restaurant has been around since 1582, it has had ample time to fill its cellar with 450,000 bottles. In doing some clearing out, bottles that the sommelier forgot about were found, though it’s hard to imagine anyone would forget several 1875 Armagnac Vieux. Much to the delight of wine lovers, 18,000 bottles will be auctioned in December.

From Bloomberg:
Raphael Drawing May Sell for Record $19.7 Million

If all goes as expected, a 12-inch chalk drawing by Renaissance artist Raphael will set a record when auctioned at Christie’s next month. The piece has notable provenance having been owned by painter Sir Thomas Lawrence (1769-1830) and King William II of Holland (1792-1849). The drawing has not been up for auction in 150 years.

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