Moon's kit sells for £120,000



Brian Cady brianinatlanta2001 at yahoo.com
Wed Sep 29 18:58:11 CDT 2004


>From Bloomberg at:
http://quote.bloomberg.com/apps/news?pid=10000102&sid=aTqdg2GCZPc4&refer=uk

Keith Moon's Drum Kit Gets Record 120,000 Pounds at
London Sale

Sep. 29 (Bloomberg) -- Keith Moon's five-piece drum
kit, custom-made for The Who drummer in 1968, sold for
120,000 pounds ($215,772) in London to an American
collector, setting a world auction record for a set of
drums, Christie's International said. 

The price of the Premier brand drums, which Christie's
had valued at no more than 15,000 pounds, was driven
up by two bidders competing via telephone. They were
part of a sale of pop memorabilia including Madonna
and Beatles items that took in a total of 602,538
pounds including Christie's commission. 

The sale showed that fans are willing to pay well over
asking price for items associated with musicians who
remain popular -- even after their death. A 1964
poster for a Rolling Stones concert in England sold
for 6,000 pounds before Christie's commission, more
than seven times the high estimate. 

"The people buying these things didn't get good
value," said Ali Zayeri, a record collector who said
he bid 5,000 pounds for the Rolling Stones poster with
the idea of swapping it. He bought a similar poster
two years ago for a much lower price, he said. 

Much of the bidding was on the telephones. The room in
Christie's South Kensington offices was crammed with
collectors in jeans, suits and dresses. Many of
Christie's customers for pop memorabilia are wealthy
Americans, and "it's a male-dominated world," said
Sarah Hodgson, head of pop memorabilia sales at
Christie's, in an interview before the sale. 

Drum Wrecker 

Moon, who had a reputation for wrecking his
instruments, died in 1978 of a drug overdose. He used
the drums sold today during a 1969 U.S. tour, though
at the time there were 10 pieces instead of five. The
musician's drums were last sold at auction in 1991 for
7,000 pounds by Sotheby's Holdings Inc. Including
Christie's commission, today's buyer paid 139,650
pounds. 

Auctioneer Helen Bailey brought her hammer down at
17,000 pounds for a poster of The Who's 1968 concert
in Wellington, New Zealand, or more than 20 times
Christie's high estimate. It was a record price for a
Who poster. 

An electric guitar played by Pete Townshend of the Who
during the rock group's 1973 U.K. Fallout Shelter Tour
was valued at about 35,000 pounds. It sold for 85,000
pounds to a telephone bidder, a record for a Townshend
guitar at auction. 

Townshend Guitar 

The 1963 white Gibson SG Special was put up for sale
by a private collector who bought it in the 1970s from
an acquaintance of Townshend, Christie's said. The
estimate was relatively low because Townshend owned
several cream-colored Gibson guitars, according to
Hodgson. 

Townshend, born in 1945, came to fame in the U.K.
music boom of the 1960s with the Who, formed with John
Entwistle and Roger Daltrey, two former school friends
from the 1950s, according to the guitarist's Web site.


The musician was known for smashing his guitars on
stage. Christie's sold one of his broken guitars more
than 10 years ago for about 4,000 pounds, Hodgson
said. Collectors typically are the same age as the
artists and grew up with their music, she said. 

Instruments owned by famous musicians can sell for
much more than their underlying value, especially if
they're rare. California retailer Guitar Center Inc.
paid a record $959,500 for an electric guitar owned by
Eric Clapton at a Christie's auction in New York on
June 25. 

Four out of nine Madonna items failed to sell. Two
black-and- white publicity photos, one showing the
star in black stockings with her legs crossed to form
a T-shape, took in 2,400 pounds after a round of
bidding, compared with an estimate of 350 pounds. 

Madonna Pictures 

"Her popularity is a bit less at the moment, but
everybody wants those pictures," said Peter Dita, a
London collector who paid 200 pounds for a
presentation award for the album "Music," a 33 percent
discount from Christie's low estimate. 

A Madonna outfit consisting of a black leather
backless bra and thong, joined together with a network
of straps, sold for 4,500 pounds. It was valued at as
much as 6,000 pounds. 

A yellow-and-purple satin stage cape worn by Ozzy
Osbourne at the California Jam Festival in 1974 was
valued at 4,000 pounds. It sold to a buyer in the room
for 8,000 pounds. He declined to say if he had bought
it for himself. 

In addition to the hammer prices used in this article,
Christie's charges buyers a commission of 19.5 percent
on values up to 70,000 pounds and 12 percent on the
rest of the selling price. 

To contact the reporter on this story:
Linda Sandler in London at  lsandler at bloomberg.net 


=====
-Brian in Atlanta
The Who This Month!
http://www.thewhothismonth.com


	
		
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