During November in a discussion on Art Insurance we reflected on whether photos have a value that is worth insuring. The blog post was titled “Can we and should we insure photos?” In this discussion we also recognized that photos sometimes have a lot more value than mere sentimental value.
The highest recorded price paid for a photo was the amount of $3,890,500 paid for a photo by Cindy Sherman. For more on the most expensive photos view “Is my best photo worthy of photo insurance cover?”
I came across an interesting story in the media yesterday revealing that images from Marilyn Monroe’s first photo shoot have sold for $352 000 at an auction that included items from Lady Gaga and John Lennon. Julien’s Auctions spokesperson Caroline Galloway told The Associated Press on Sunday that the Monroe photos – taken in 1946 when she was still Norma Jeane Dougherty – were the highlight of the Beverly Hills auction known as “Icons & Idols”.
The photos come with negatives and the rare right to sell and distribute them. A judge in September ruled they must be auctioned to settle debts of photographer Joseph Jasgur.
A Lady Gaga dress sold for $31 250, and the prop gun used in her video for Born This Way went for $7 680.
A 1969 caricature John Lennon drew of himself and Yoko Ono went for $90 000.
[SAPA]
It appears that collectors are not afraid to dig deep in their pockets for some interesting items. Also view:
Large sums of money offered on auction for interesting insurable collectibles
Also view:
Art Insurance should protect from traffic related accidents
How can we stop the increase in theft of art?
I need art insurance but is my art worth insuring?
Is your art insured against pothole damage during transport?
What are the most important questions to ask when insuring art?