July 24, 2013
A new phenomenon has appeared on the auction scene - cities in dire financial straits are holding memorabilia auctions to raise money.
Recently the city of Harrisburg, Pennsylvania held an auction of Western memorabilia, including a travel case made for Annie Oakley by Louis Vuitton, shown in the picture above. It netted $8,500. The memorabilia had been collected by the town's mayor with an eye toward opening a museum, but that never happened. The total auction proceeds were more than $2 million.
A much sadder story is the situation in the city of Detroit, which has declared itself bankrupt. It is planning an auction that includes one of the original Howdy Doody puppets, estimated to be valued at $400,000 to $500,000.
This could be a new trend, as many cities have important documents and objects that could help to solve their economic problems. Watch the newspapers, everyone. Your dream purchase could be headed toward the block sometime soon.