The winner’s curse: "The winner of an auction tends to be one of those who form the highest estimate of an item’s value — and hence one of those most at risk of overpaying."
Back in 2011, I posted that one of John Lennon's teeth was up for auction. Canadian dentist Michael Zuk bought the molar for approximately $34,000 and says he would eventually like to use it to clone Lennon and raise him as his own son.
"He would still be his exact duplicate but you know, hopefully keep him away from drugs and cigarettes, that kind of thing," Zuk said.
Auctioning a conceptual copy of Banksy's thrifted "Banality of the Banality of Evil" to benefit 826 Valencia
A San Francisco artist commissioned a Chinese artist to make a copy of "The Banality of the Banality of Evil" -- a painting that Banksy thrifted, added a Nazi to, and shop-dropped back into the thrift store. The copy, called "The Banality Of The Banality Of The Banality Of Evil," is now being auctioned to support 826 Valencia, a literacy for kids program in San Francisco.
This 1954 Mercedes W196R Formula 1 race car sold for $30 million today. It's the highest price ever for a car sold at a public auction. I hope the buyer uses it as a daily driver. (CNN)
Luke Skywaler's filthy Levi's worn in the original Star Wars just sold at auction for $36,100. The "sand-colored 'cotton drill'" Levi's were customized by famed London costume-maker Bermans & Nathans. "Lot #555: Mark Hamill's Screen-Worn Hero Pants in the Original 1977 ''Star Wars'' as Luke Skywalker" (via New York)
Swan Galleries is auctioning off a collection of 139 old movie posters, including a lot of wonderful, monstrous film posters from around the world, in a collection called "Monsters with Maidens." The auction runs to Dec 18, and though there's plenty of very high-priced items, there are some bargains to be had, too.