Release: DECEMBER 16, 2022
In college, I earned extra money as a disc jockey on a few rock stations in the Midwest. Part of the job included interviewing touring musicians who came through town. During the interview, fans sometimes gathered outside the station hoping to meet the rock stars.
I never thought much about it. I was just doing a job. The musicians also didn’t understand the fuss. They too were just doing their job. The fans felt differently. They would do most anything to meet the musicians and get an autograph....
This is nothing new. I’d wager, ever since some Pharaohs placed their mark on a piece of papyrus, followers have put a value on that prized item. For certain modern celebrities, we certainly pay handsomely for mementos. For the upcoming year, recession and inflation aside and ignoring the sinking stock market, it appears many of those prices will continue to rise.
A recent sale of rock ‘n roll memorabilia is proof of how people want to own key celebrity-related items. The “Gotta Have Rock And Roll” auction in New Jersey this month offered hundreds of such lots. Prices-realized suggest many discretionary bankrolls are very healthy.
In the sale, a 1975 contract authorizing the sale of Beatle’s records signed by all four Beatles went for $36,000. (The group broke up in 1969 but record sales contracts continued.) That was eclipsed by a page of doodles, scribblings and what are suggested to be the earliest form of lyrics to “Oh-Bla-Di, Oh-Bla-Da” by a young Paul McCartney in 1958. That brought $55,000. Neither of those holds a candle to a typed page of lyrics to “Glass Onion” from the Beatle’s famous “White Album.” That sheet, actually used in the recording session, includes penned edits by John Lennon with timing annotations by Ringo. It was hammered for $81,000.
The Beatles weren’t the only “Brits” to soar at the sale. A copy of the album Dark Side of the Moon by Pink Floyd signed by all members of the band sold for $17,000. In addition, a copy of Led Zeppelin IV containing the song Stairway To Heaven (consistently voted the number one rock anthem of all time) and also signed by the entire band went for $26,000.
Signatures alone aren’t the only things bringing top dollar. Props and accessories do too. Remember the iconic box of Russell Stover chocolates held by Tom Hanks as he sat on the bus stop bench recounting all of his exploits in the film Forrest Gump? That prop box, also signed by Hanks, sold for $25,000. How about the Beatle’s manager, Brian Epstein’s personal address book containing the addresses of all four Beatles? Just the information – no addresses. It sold for $3,000. A lock of George Harrison’s hair went for $700 and a pair of John Lennon’s spectacles brought $3,500. A letter from Buddy Holly to his parents brought $9,000.
Items Elvis wore or touched were also hot commodities. A variety of his rings with various stones went for between $3,000 and $26,000. Some of Elvis’ clothes brought several thousand dollars each. Even a cheap clock radio that wouldn’t fetch 50-cents at a flea market sold for $650. The fact it once awakened “The King” made the difference.
One bidder walked away with a tiny square from a bed sheet said to have come from Elvis’ home in Beverly Hills. There’s no guarantee Elvis actually slept on it but it brought $50 nevertheless. There are many more such auctions lined up in 2023.
I can understand the fascination with the tangible connection. Years ago, I was hired by the Henry Ford Museum in Dearborn to examine a large philatelic collection given to them. It took me several weeks working from morning to night. While there, I got to know one of the curators quite well.
One evening, while leaving the massive empty building, he and I passed a large display case with a door in the back. Inside, he pointed to an old, worn chair. He asked if I’d like to sit on it. I did. It wasn’t anything special. Just an old chair. That is, until he told me it was the chair in which Abraham Lincoln was shot at Ford’s Theater.
I actually became light-headed. To be that close to history was intoxicating. So, I get it. Our intrigue with history is very real. An ordinary old chair such as that might sell for $100. For that particular one, I’d guess bidding would start at $10 million. We definitely pay for history.
For more collecting information and advice, log onto www.PRexford.com.