Welcome to Cultural Assets Insider for April 19th, 2022 – FREE Edition.
Each week we give you the scoop on undervalued, mispriced and hidden gems in Alternative Investing.
Table of Contents
Last Week in Cultural Assets
Auctions
Over the weekend, we kept a close eye on the Music Memorabilia auction at Heritage, and there were several significant sales.
The biggest winner was a poster from the Beatles’ final show at New York’s Shea Stadium in 1966. Commissioned because the show wasn’t selling out, the poster is a rare example of merchandising material for live Beatles events. It went for $275k, which was well above estimates.
The Grateful Dead were another big winner, as their 1966 “Skeleton & Roses” Concert Poster smashed through the most recent sale. Hammering at over $130k, it was up 160% from its latest comp in early 2021. This is my absolute favourite poster (from an investing standpoint) and stands to become the 1952 Mickey Mantle rookie card of the asset class.
And, for those of you who are into this sort of thing, Madonna’s beaded bra from “The Girlie Show” concert tour in 1993 went for $23,750. One can only imagine how it might be used.
See it in action here.
This Week in Cultural Assets
Fractional IPOs
Three fractional IPOs on Rally this week, and it’s safe to say you’ll recognize them all, more or less.
Up this week are a hunk of shiny yellow metal and original drawings by Simpsons creator Matt Groening.
GOLD NUGGET (172 GM)
- Market Cap: $16,000
- Inferred Value: $10,922
- Drop Details: 4/21/22 on Rally
- Our view: [INSIDERS ONLY]
’93 SKYBOX HOMER SIMPSON ‘ART DEBART’ SIGNED SKETCH (MATT GROENING)
- Market Cap: $21,000
- Inferred Value: $16,000
- Drop Details: 4/19/22 on Rally
- Our view: [INSIDERS ONLY]
’93 SKYBOX BART SIMPSON ‘ART DEBART’ SIGNED SKETCH (MATT GROENING)
- Market Cap: $21,000
- Inferred Value: $16,000
- Drop Details: 4/19/22 on Rally
- Our view: [INSIDERS ONLY]
Auctions
I don’t usually dig into the handbags and accessories auctions, but Heritage’s spring luxury accessories signature auction features the behemoth above, and I couldn’t resist sharing it.
I’m not an expert in steamer trunks, but I’d always thought they were sold as a set. I’m not 100% sure what you do with just one of them. If you’ve got enough stuff to require one, don’t you need more? And is it a bit gauche to have a mismatched set with loads of standard Louis Vuitton boxes and one wacky one from Virgil Abloh?
If this is something you know about, please reply to let me know. This one is already above $50k.
Also available in the auction, a $4k backpack and a $6k teddy bear.
I’m also not a Banksy expert (what am I an expert in, you might ask), but this is about the fifth (and by far the largest) Banksy auction I’ve seen in the last three months. Makes me wonder if the Banksy market is a bit oversaturated.
Moving slightly closer to my wheelhouse, Heritage is featuring a massive film posters auction this week with all the usual suspects.
The star of the show is an original Dracula poster from 1931 in Fine/Very Fine condition. Classic horror films often take top billing at these events, and this is no different. Estimates go as high as $250k, and it’s already up to $138k.
Pulp sci-fi also does well here for some reason, and a copy of Attack of the 50 Foot Woman is already past $15k.
Star Wars is, as always, very popular as well, with twenty different posters available.
- These will all be covered in future issues of this newsletter, but here are a few auctions to keep an eye on:
- Treasures from the Melvin Mark Jr Collection from Heritage
- Fine Autographs and Artefacts from RR
- Marvels of Modern Music from RR
- Books and Manuscripts from the Collection of Jay I. Kislak from Sotheby’s
They all kick off in May, and there are some bangers.