This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Titanic Auction Calls for a Gigantic Bankroll

BOSTON ( MainStreet) -- It's the ultimate luxury item: A 5,500-piece collection of artifacts recovered from the Titanic -- and you can buy it all for around $200 million at auction this spring on the 100th anniversary of the ship's sinking.

"We have determined that the time has come for us to transfer ownership of this collection to a steward who is able to continue our efforts and will preserve and honor [Titanic's] legacy," says Mark Sellers of Premier Exhibitions (PRXI - Get Report), which holds official salvage rights to the vessel and will auction off its entire collection April 15.
A 17-ton piece of the Titanic's hull is among items going up for auction this spring, but don't expect to just pick up this single piece for your front yard. The entire lot of salvaged artifacts is to be sold together for an estimated $189 million.

That's the 100th anniversary of the day Titanic sank some 400 miles off of the Canadian coast after striking an iceberg during its maiden voyage from Britain to America.

Billed as unsinkable, the luxury liner didn't carry enough lifeboats for everyone, and two-thirds of its 2,200 passengers and crew -- including super-wealthy ticket holders such as John Jacob Astor IV and Benjamin Guggenheim -- perished.

Titanic memorabilia has been a hot seller ever since, with companies bringing out items such as commemorative postcards within days of the disaster.

"The stunning news of its sinking shook the world, resulting in countless books and magazine articles revealing endless 'mini-sagas' about the lives of the passengers on board," said Arlan Ettinger of Guernsey's, which is conducting the auction. "On a personal level, my 12-year-old son seems as fascinated by the Titanic as my father was before me. The saga just seems to go on and on."

Gary Robinson, one of about two-dozen major Titanic collectors, said the 1997 film Titanic -- which won 11 Academy awards and grossed a then-record $1.8 billion worldwide -- took interest in the disaster to a whole new level.

"The movie was both a blessing and a curse for collectors," he said. "It was a blessing in that it bought out items from peoples' closets and attics that they didn't previously think the public would have much interest in. But it was a curse in that it drove memorabilia prices through the roof."

Auctioneers around the world plan to mark the shipwreck's centennial by holding the largest auctions ever of life jackets, dinner menus and other surviving items from the ship.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PRXI $0.50 19.05%
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs