John Wayne Property Totals $5.4 Million

Heritage Auctions held an auction of over 700 items from the estate of John Wayne.  The sale included costumes, scripts, awards and memorabilia,  and totaled $5.4 million (including buyers premium).  A CBS/Associated press article has a good review of some of the more important items which sold and their prices. 

I like to post on these types of specialty sales as it is usually helpful when determining a valuation premium based upon provenance or how celebrity ownership impacts value.  The sale totaled 743 lots, with all but 12 selling for an excellent 98.38% buy through rate, and brought 99.113% by value.

As is typically the case with celebrity memorabilia, the property sold very well.  Most pre sale estimates for the 700+ lots was near $1.5 million, with the final results or $5.4 being a multiple of nearly 3.5 times. The top selling lot was the Green Beret Wayne wore in the movie, The Green Berets, selling for $179,250.00 (see image).

CBS/AP reports on the sale

(CBS/AP) LOS ANGELES — Organizers say a two-day auction of more than 700 costumes, scripts, awards and memorabilia from the estate of film star John Wayne brought in $5.4 million.

Heritage Auctions said Friday that the auction included items such as Wayne's last driver's license ($89,625), a holster and gun belt from the film "El Dorado" ($77,675), and an eye patch he wore as the iconic Rooster Cogburn in the 1969 movie, "True Grit" ($47,800).

The highest price went to the green wool beret that Wayne wore in "The Green Berets." It fetched $179,250.

A cowboy hat that Wayne wore in THREE westerns - "Big Jake," "The Cowboys" and "The Train Robbers" - pulled in $119,500.

The Golden Globe trophy he won for "True Grit" went for $143,400.

A portion of the proceeds will be used by the John Wayne Cancer Foundation to help fund cancer research, treatment and education.

The items had been kept by Wayne's family since his 1979 death from cancer.

Among the other notable sale items:

• An Andy Warhol limited edition signed print of Wayne from Warhol's "Cowboys and Indians" series, dated 1986 ($77,675).

• Wayne's copy of the shooting script for "The Searchers" ($41,825).

• Wayne's Certificate of Nomination for Best Actor from the Academy of Motion Picture Arts and Sciences, for "True Grit" ($41,825) - Wayne's Oscar statuette was not on the block.