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Celebrity Memorabilia Revive Interest in Estate Sales

Garbostruggle to find a buyer.  Not so, however, if it's the Manhattan home of Greta Garbo—the screen star who retired from Hollywood and led an intensely private life. That choice only increases her fans’ fascination.

Greta Garbo’s home for nearly 40 years sold recently for $8.5 million, a 43% premium over its asking price. It’s called “The Garbo Effect.”  When celebrities die, their homes and belongings are examined, researched and marketed to get the highest return.

Rather than collect antique furniture, a new generation of buyers wants items that might offer insight into the life of a star or business giant, or a glimpse of a bygone era.  “Younger collectors don’t want things so much as they want experiences and stories,” said one director of a New York auction house. “Owning an item that belonged to a big celebrity combines the two,” she added.

Another upcoming sale with a variety of collectibles is the estate of Zsa Zsa Gabor, the Hungarian actress who died in 2016. Margaret Barrett and Carolyn Mani of Dallas-based Heritage Auctions evaluated her Los Angeles estate.   As Gabor’s husband, Prince Frederic von Anhalt looked on, they inspected her glassware, jewelry, antique furniture and a collection of designer handbags.

The two took a week working at the Bel-Air home, evaluating the pieces to determine their origins, how she got them and what they might be worth. They plan to catalog and auction some of the items at the home this spring.  And then there is Garbo's estate where there is no shortage of personal items in Gabor’s case: she required two rooms to house her more than six decades of outfits that were protected in plastic.

Reference: The Wall Street Journal (February 1, 2018) “Estate Sales Are Cool Again”

 

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Coronavirus/Covid-19
Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.