New here? Read up on our past Cultural Assets issues to get the most from this post.
June 10, 2022 | ± 6 minutes
CONTENTS:
- Our analysis of the Cultural Assets market for the year & last week
- All you need to know about any current drops
- A heads up on any auctions we think are worth checking out
Let’s go!
Table of Contents
This year in Cultural assets
Cultural assets on fractional markets seem to have found a bit of a bottom after trending down in the first quarter of 2022.
Last week in Cultural assets
Fractional marketplaces
In the red all-around last week, with toys leading the way down.
At auction
- Margret Atwood has created a one-off “fireproof” print of ‘The Handmaid’s Tale.’
- ‘Parallel Universe: NFT Evening sale’ was held in Hong Kong by Christie’s, a one lot sale of a work called Clone X by Takashi Murakami and RTFKT (Estimate HKD 5-7m).
- There was a successful Luxury Handbags auction at Christie’s New York this week. If you want to invest in the luxury bag asset class, the obvious choice is to try to acquire an Hermès Birkin. However, for a trunk or luggage, it has to be a classic Louis Vuitton piece (in some asset classes, it pays just not trying to be too clever).
- Phillips’ Photographs auction in London performed decently, with most lots at least meeting their reserve, if not beating their top estimate. One bidder celebrated the Queen’s Jubilee by buying this nice artist proof of Chris Levine’s “Equanimity 9” (portrait of Queen Elizabeth) –
- The Siegfried and Roy estate sale at Bonhams was comprised of an exotic mix but in truth, many grotesque lots. There was a set of signed photos of USA presidents…
- At Goldin a signed photo of JFK made $2,760. Also at Goldin, a signed US first edition of ‘Harry Potter and The Sorcerer’s Stone’ sold for $3060.
- There was a steady jewels sale at Philips. I think at a sale like this, if you can buy at the bottom end of the estimate, you’ve probably made a safe investment. There is a rumor that the buyer for this brooch was none other than famous
pedoElon Musk!
- Damien Hirst’s “The Currency” offered the chance to apply for a studio tour to verified holders of the NFT from their Discord community. 75 lucky holders (not the holder writing this though, and I’m really trying not to be salty) won a place on the in-depth tour.
They were separated into smaller groups for the tours and spent time with Hirst personally. He signed whatever they bought with them and took the time to find a matching color for his signature. They then received a unique spin painting to take home, which he also signed personally for each holder (I think my eye twitch is back).
This week in Cultural assets
Fractional IPOs
‘94 BMW 850CSI
- Market Cap: $142,500
- Inferred Value: $110,000
- Drop Details: 06/10/22 on Rally
- Our View: [INSIDERS ONLY]
Primary market
To celebrate the Queen’s platinum jubilee The Sex Pistols Store have released a commemorative coin and NFT (depending on location so DYOR) for £25. It’s a timed release, so the edition size will be unknown until the publishing window closes. It’s a very cheap price to mint any NFT and won’t have any gas wars due to how it’s being released.
I don’t think it’s an investment and don’t see the NFT or coin ever being worth much… but they are the original British punk band, if not quite the original punk NFT! Plus, it’s fun and cheap, so maybe one won’t hurt.
At auction
- There is a great Fine books and manuscripts auction coming up at Bonhams which is so exciting to scroll through. After the first 100 odd lots, it suddenly comes to life with a tail-end jam-packed with everything. Among the rare books there are genuine museum-quality pieces, some incredibly investable and the very best-in-class. There are lots more attractive, affordable investment pieces like:
Also this, this, and this, which would make excellent gifts.
There are a few Ian Fleming James Bond first editions like this copy of Casino Royale, a genuine collector’s piece, and this great starter bundle:
Another blue chip piece is this inscribed UK first edition ‘Harry Potter and the Philosopher’s Stone’ (the daddy of rare Harry Potter books) but if it’s out of reach, this book would look great in any collection.
In the same auction, there is also a collection of women’s rights pieces, all very cool and desirable, though I think this sash is the most investable:
Sticking with human rights, there is an affordable Mandella book and a Martin Luther king piece.
Lastly from them, more JFK memorabilia, and this photograph is one of the better Kennedy pieces I’ve seen.
- When I hear sneakers as an asset, the first thing I think of are rare Air Jordan, the second thing I think of are Nike Air Force 1. Forty very collectible pairs go on sale at Sotheby’s. The jewel of the sale sees the bag asset class No.2 team up with sneakers asset class No.2 for an Air Force 1 x Louis Vuitton lot:
- Brightwell’s classic car and motorcycle auction incorporating the Platinum Jubilee sale is a beautiful auction full of regal, iconic and cool vehicles.
Though a lot of them appear very affordable, be warned: I wouldn’t think of buying if you aren’t a confident mechanic and they can become a money pit in parts… Although that’s also true for 1994 BMWs.
- Tiffany Glass has some attractive pieces going to sale on Friday at Christie’s New York.
- My favorite auction this week is the estate of John Peel (legendary radio DJ who was a key cog in the punk movement), it’s full of very investable and rare music memorabilia.
Also more Sex Pistols stuff (though I’m team The Clash), and I love this Pink Floyd poster:
I guess in keeping the “platty jubes” theme, there is also lots of Queen stuff.
- Heritage auctions are selling a Nobel Peace Prize medal to raise funds to benefit UNICEF’s humanitarian response to the children of Ukraine.
- Julian’s released a first peek at an auction called “Hollywood Legends” in July, although all the lots and valuations haven’t been released yet. They’ve announced it will have very desirable movie props, including an original stormtrooper helmet from A New Hope (got Star Wars In), the Pulp Fiction “Bad Mother Fu…” wallet and the Thor: Dark World Hammer Prop.
Last but not least, our podcast
In this episode, Horacio spoke with Mark Montero, LCG Auctions’ founder & CEO. He talks about learning business fundamentals with baseball cards, emerging asset classes like graded VHS tapes, the value of long-standing franchises like Star Wars, and the future of the collectible toy industry.
That’s all for today’s Cultural Assets Insider. I hope you found it useful.
Please feel free to respond to this email with any questions/comments/ideas you’d like us to look at. We always read our inbox.
Until next time,
Nicho
