Published Nov 26, 2008A recent sale of punk memorabilia at the famed Christies auction house appears to be a bit of bust. According to a New York Times article, the auction including such items as Vivienne Westwood bondage pants, Velvet Underground postcards and a collection of Patti Smith poetry drew only a handful of prospective buyers to the Monday show in New York City, with many items barely going for their estimated price, or for much less.
"Only two dozen or so people turned up for the sale on Monday, about four of them in suits, the Times says. "Even with the addition of Internet and phone sales, bidding was not fierce, and few lots sold for more than their estimate; many sold for less. A collection of Velvet Underground postcards, fliers and a psychedelic handbill from the Canadian club Retinal Circus, estimated at $400 to $600, sold for $100. A set of three photos of Mr. Reed went for just $50; same with a yellow flier for a 1973 Los Angeles show billed as a Punk Rock Invasion.
Blame it on the crashing economy, if you like, or on the fact that no matter how hardcore of a Black Flag fan someone is, theyre just no going to dish out thousands of bucks for some old fliers. Or as the Times article puts it, "Maybe the Man isnt ready for punk quite yet.
Among the items that did actually fetch a hefty bit of cash were an autographed cheesecake poster of Debbie Harry ($7,000), a set of Sex Pistols posters ($7,000) and three Jimi Hendrix tapes and handwritten notes that became the basis for Electric Ladyland ($38,000).
Who most likely didnt spend thousands of dollars at the auction