It used to be all about the Three Ds – Death, Divorce and Debt – when it came to reasons for consigning to auction. Now you can add Downsizing and De-cluttering as modern tastes moved towards minimalism in the home and older couples cashed in their property portfolios once the children had flown the nest.
I was reminded of all of these this week as news emerged of a sale that has arisen as a result of Debt. Adding another D – this time for Disaster – the theme of the sale will be the Titanic, whose sinking was a unique event in history that continues to fascinate and horrify in equal measure owing to both the sheer scale of the loss of innocent life and its symbolism. Few catastrophes (the 2004 Boxing Day tsunami was another) better illustrate the lasting truth that no matter how developed and sophisticated we become as a species, humans are only ever a small step away from the unstoppable caprice of nature.
In this case a company specialising in exhibiting Titanic memorabilia has filed for bankruptcy, leaving all the exhibits up fro grabs. When you consider that the violin played by the bandleader as the ship sank sold last year for $1.7 million (it’s not part of this sale) the attraction of Titanic items becomes obvious.
However, putting all the pieces on the market at once risks deflating values, so it will be interesting to see how the administrators handle the auction.
