Titanic artefacts on the block

2011-12-30 07:50

Washington - More than 5 000 artefacts salvaged from the Titanic are to be sold in one lot at auction in New York, 100 years to the day after the luxury liner sank in the Atlantic with some 1 500 people on board.

In a filing with the Security and Exchange Commission, Premier Exhibitions, which owns sole salvage rights to the Titanic through its RMS Titanic unit, said it has engaged New York auctioneers Guernsey's to handle the sale.

It will take place April 15, the 100th anniversary of the day the White Star liner - on its maiden voyage to New York from Southampton, England  - slipped under the icy North Atlantic Ocean after hitting an iceberg off Newfoundland.

No reserve price has been set, but publicly-listed Premier Exhibitions said the artefacts - some of which are now on show in Singapore and Curitiba, Brazil - were appraised at $189 million in 2007.

"We expect to identify a buyer capable of serving as a proper steward of the collection and the wreck site," said RMS Titanic's president Christopher Davino in the filing.

No reason was given for the sale, but last month Premier Exhibitions reshuffled its top management team after reporting a second-quarter loss of nearly $2m due in part to fewer people going to its shows.

A new 3D version of director James Cameron's 1997 blockbuster Titanic is to open in Canadian and US theaters on April 6, four days before the centenary of the day the doomed ship began its ill-fated voyage.

Read more on:    us  |  maritime

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

linking and moving

2015-04-22 07:36

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.