Online Pawnshop, PawnUp.com, Takes The Royal Cake With Winning Auction Bid
MONTREAL, Nov. 11, 2012 /PRNewswire/ -- PawnUp.com served up a total of $7100 today at an auction held by Julien's Auctions of Beverly Hills. The first bid was placed on a slice of cake from the wedding of the Prince and Princess of Wales who were famously united in 1981. While the cake is no longer suitable for human consumption, it was still expected to fetch between $1000 and $2000. It ultimately sold for $1100. In a surprising twist, the winning bid for the brandy-infused slice of wedding cake from the union of Prince William to Kate Middleton was estimated to be between $600 and $800, and yet the winning bid was an astonishing $6000.
So what could have prompted this seemingly bizarre purchase? The auction house describes these items as "ultimate in Royal historical memorabilia." In this context, the purchase by the online pawn shop makes perfect sense. PawnUp.com buys items outright, and provides short and long term loans on luxury goods and collectibles.
"Despite the fact that we can't eat them, the wins couldn't be any sweeter," said Jay Martin, a spokesperson for PawnUp.com. The online pawn shop has no immediate plans for the iconic pastries but Martin did go on to say, "We greatly admired the late Princess Diana's dedication to helping disadvantaged people the world over. Our company's mission is also to provide assistance to those in need. Therefore, whatever we decide to do, we intend to honour her by continuing to extend goodwill to others."
In the meantime, the cakes will be housed in the secure offices of PawnUp.com online pawnshop. "They couldn't be safer if they were locked up in Buckingham Palace itself," said Martin. He added, "By purchasing both pieces of Royal wedding cake, PawnUp.com is delighted to have the opportunity to keep a little piece of the Royal family together; and hopefully happily ever after."About PawnUp.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV