UPCOMING Sale of TITANIC Artifacts

[John Clifford]

See/Reference: http://biz.yahoo.com/e/111223/prxi8-k.html:
Form 8-K for PREMIER EXHIBITIONS, INC.:
"Guernsey's auction house, in a Consignment Agreement, will conduct a sale of the Company's Titanic artifact collection and related intellectual property through a public auction and a negotiated sale process...the results of the auction will be announced on April 15, 2012 in New York City. Participants in the auction must be precleared by Guernsey's and the Company, and must agree to comply with covenants and conditions set by the U.S. District Court for the Eastern District of Virginia."

I'm not sure what to make of this, or what will, in my opinion, really happen.

 

[Michael H. Standart]

At best, some museums will bid on this stuff, but I think it's a lot more likely that much of it will disappear in the rat hole of somebody's collection, never to see daylight again.

 

[Jason D. Tiller]

This is a sad reality and how ironic that the announcement is scheduled to occur on Titanic's centennial. Frankly, I'm disgusted with RMSTI. I had hoped that all of the artifacts would remain together with RMSTI and that one day, they would be housed in a museum for all to see. That was George Tulloch's dream, but sadly it's not going to happen now. He's probably already rolled over in his grave; this would have never happened with him at the helm.

Mike is right; any artifacts that are purchased by a collector will be added to their private collection and that will be the end, of anyone else viewing them. As well, many artifacts that RMSTI currently owns, have not seen the light of day since they were salvaged and it's anyone's guess, as to which ones will be sold, if not the entire collection which amounts to approximately 6,000.

Plus, since the artifacts were at the bottom of the ocean for almost 80 years or more, they require certain lighting and a climate controlled area. I saw this first hand at the exhibition, that I worked at, so they can't just be placed on a bookshelf or in a display case, without special care given to them. Is RMSTI going to make sure that the collectors who purchase the artifacts, have the proper requirements to display them in their private collections? I would hope so, but I won't hold my breath.

What's next? Are they going to give up their salvage rights to the wrecksite as well, and then it will become a free for all?! I sincerely hope not. RMSTI is pleased, since they've wanted this for the last decade, but for most of us it is very, very sad.

 

[Mike Poirier]

If Judge Clarke was still alive, I don't think this would have ever happened. Let's prepare for the fakes to show up on ebay

 

[Jason D. Tiller]

Hi Mike,

quote:

If Judge Clarke was still alive, I don't think this would have ever happened.

Quite true; Judge Smith is far different.

quote:

Let's prepare for the fakes to show up on ebay

Buyer beware!​

 

[Michael H. Standart]

>>Let's prepare for the fakes to show up on ebay<<

Awwwww hell, Mike, why wait? The scam artists have been doing that ever since EBay has been around. I'm sure however, that this development will mean that some real doozies will be showing up! I'll bet the liner ephemera people like Steve Santini and Brian Hawley will be having a meltdown trying to sort out the trash from the real thing.

 

[monica e. hall]

Well, there you go...

http://www.dailymail.co.uk/news/article-2079771/Largest-collection-Titanic-artefacts-hammer--results -auction-revealed-100th-anniversary-disaster.html

But will it fetch all this money if it all goes under the hammer at the same time? Usual economic theory suggests that it might not, but you can never tell with Titanic.

 

[christina gilpin]

Anyone hear about this in the news the company that owns salvage rights to titanic. Will be auctioning off the artifacts.

They value it at around 189 million. But to history its priceless. Seems its crazy these items should be in a museum not in a private collection where they may just go. Any thoughts on this. Link of article is below.

http://news.yahoo.com/titanic-artifacts-auction-ny-april-163655594.html

[Moderator's note: This post, originally posted in a separate thread in an unrelated topic, has been moved to the pre-existing one discussing the artifacts. JDT]

 

[monica e. hall]

Sounds like a last throw of the dice of financial exploitation to me. I don't know who valued the collection in 2007 at $189m, but I think they're mad. I see a spokesman said they were hoping to identify one buyer who could curate the whole lot - not at that price, they won't. The problem with this stuff is that its value derives from the ship itself - none of it is unusual, in that we have loads of similar stuff from that era - we're awash with it, as most of it was mass-made. So as the Titanic fades into history in popular culture, the value of it will decline. I wouldn't buy any of it in 2012.

I don't know if I'm unusual, but I find a video / photo of a lone shoe lying in the mud on the seafloor rather more emotive than the same shoe sitting in a glass case as an exhibit.

 

[Michael H. Standart]

>>Sounds like a last throw of the dice of financial exploitation to me. I don't know who valued the collection in 2007 at $189m, but I think they're mad. I see a spokesman said they were hoping to identify one buyer who could curate the whole lot - not at that price, they won't. <<

Well, if you're somebody like Ross Perot or Bill Gates, maybe there would be a chance. Since niether of these men have ever expressed an interest in the ship, I think they're being wildly unrealistic. The value may be about right but rotsa ruck finding anybody who both wants the lot and can afford it.

 

[monica e. hall]

Well, yes, Michael. Mr. & Mrs. Gates seem rather more interested in disbursing their Foundation funds to the living - with which I quite agree. I don't know what Mr. Perot likes to invest in, but I bet it's something a lot less ephemeral than Titanic memorabilia will probably prove to be, post 2012.

The question of whether the 2007 valuation of $189m is about right is an interesting one, if you like statistics. So far as I can see, it can only be an extrapolation of an upward curve based on historical value from a narrow timeband, fuelled by our ability to salvage and Cameron's film, which is no basis for forecasting the future value of anything. All forecasts inevitably collapse back via the regression to the mean. Only a ludicrously rich afficionado, who could afford not to invest in property which increases its value, would buy this lot. But you never know. There may be one. The other alternative is a larger number of fairly rich people who will pay for a little piece of history they are interested in.

Not sure there are many of them on ET, though you can never be certain of people's identities. I've long been suspicious that Bob Godfrey's protestations of poverty have been concealing a rich collector's zeal, and as for Paul Rogers ... well, who believes he isn't sitting on a pile of Welsh coal and light fittings?

 

[Bob Godfrey]

There are two ways to accumulate wealth, Mon. One is Paul's way - to earn as much as possible. The other is my way - to spend as little as possible. And as I'm fully stocked with coal (no more room in the bath) and well supplied with 40W light bulbs I won't be bidding. I suspect that Paul will be keeping his wallet closed too, as Carol hasn't forgiven him for selling all their furniture last year to buy Captain Smith's ballpoint pen. I hated to part with it, but I have to make a living.

 

[monica e. hall]

Thank goodness I had the sense to refuse your recent offer of Captain Smith's Gillette Fusion ProGlide Power Razor. I obviously saved a fortune, not to mention my furniture. I understand that the head chef's electric Knife Wizard is in the auction catalogue though. Could be a good buy.

 

[Jim Kalafus]

>Captain Smith's Gillette Fusion ProGlide Power Razor.

The museum to which I tried to donate it, post-purchase, had the temerity to suggest that I was an idiot. So much for philanthropy. And, not to air dirty laundry in public, but the 15 yards of Lycra that I bought from you, recovered from the shipment Lucile Duff-Gordon was bringing to the US, has never arrived.... did you ever get around to mailing it?

 

[monica e. hall]

Sorry about that, Jim. But the Lycra was put to good use, as you can see. I think Lucile would have been pleased.