Swann Galleries to Auction Howard Hughes Plane Wreckage

Lindsay Pollack writing for Bloomberg is reporting Swann Galleries in New York will auction of property from Howard Hughes' plane crash of the XF-11 in 1946. The collection was assembled by William Durkin who pulled Hughes from the wreckage. It is Durkin's estate which is selling the property through Swann.

I always find it interesting when unique and unusual items come on the market and how values, or perhaps purchase price is determined. As appraisers we need to be aware of these types of sales of unique items with provenance, historical significance and pop culture (past or present).

Pollack states items are projected to sell for between $40,000 and $60,000 at Swann Galleries in New York on Sept. 17.

Among the items, which Durkin assembled, is the control yoke -- the plane’s steering wheel -- a letter from Hughes to Durkin thanking him for his assistance, and photos of the plane and crash site.

“I will always be grateful for your courageous action and am glad that you were uninjured,’’ Hughes wrote Durkin. He mailed Durkin regular checks of $200 (about $2,200 in 2009) for some time. Durkin died in 2006. The collection is being sold by his heirs.

To read the complete, yet short article on the sale, click HERE.