WHAT: When Heritage Auctions held an Entertainment & Music Signature Sale of showbiz memorabilia last month, stage and/or game-worn items from icons sold best. Whitney Houston memorabilia included her fold-out passport, which covered almost a decade of touring and sold for $11,250, but highest price went to a pair of game-worn Nike Air Jordans given to her by Michael Jordan around 1990.
MORE: Earlier in the multi-day sale, a lock of dyed yellow hair snipped from the head of David Bowie by the wig mistress of Madame Tussauds in London sold for $18,750. The cut was done to match hair color on his wax image.
The Yellow Cloud guitar designed by and played on stage by Prince brought a whopping $137,500. It was bought by Jim Irsay, owner of the Indianapolis Colts, for his collection of important rock guitars.
SMART COLLECTORS KNOW: In celebrity memorabilia, association is everything. Nothing beats the show-off value of owning Prince’s favorite, the much photographed Cloud guitar.
HOT TIP: Dallas-based Heritage moved the celebrity sale to Beverly Hills, where celebrity and money matter.
BOTTOM LINE: Wealthy collectors have serious money to spend on items they want. What chance would an ordinary fan have had with that guitar? On the other hand, the new owner has the means to display his prize for the public.
