Government Auctions

Gold Eagle May Soar

December 27, 2011

For the seventh year in a row, Government Auctions will be hosting a New Year’s day online sale of a huge variety of items ranging from sports photos to slot machines with everything in between. The jack pot may be a 1795 $10 gold eagle coin. Only 400 to 500 examples of the 13-leaves coin are known to exist. Designed by Robert Scott, they were the first gold eagles to be stamped. High estimate is $250,000.

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At Antiquorum's watch auction in Hong Kong, a Patek Philippe ref. 5074, with complications including a minute repeater with carilon, sold to an Asian collector for $574,791, the top price at the sale.
A block and shell mahogany bureau table, dated 1770, by noted colonial cabinet maker John Townsend has sold at Christie's for $2.2m, for than twice its $900,000 low estimate.
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The upright piano from the 1942 classic film "Casablanca"--the one on which Sam plays "As Times Goes By"-- sold for $602,500 at Sotheby's in New York.
"The Coachman," the iconic 1923 painting by Boris Kustodiev sold at Christie's Russian Art Auction for a record $7m.
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Eye On: Taxes
U.S. Taxes on art bought abroad
Collectors buying art at auctions overseas must be aware of U.S. tax consequences. Here are some tips from Alan Olsen that will help smooth the way.
	Art Bought Overseas CPA Alan Olsen, of Greenstein Rogoff Olsen & Co., talks about the U.S. tax consequences when you purchase art abroad. Watch Video

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