The final hammer went down on one of the greatest Americana collections ever to have auctioned, over the weekend. Not surprisingly, 100% of the offered lots from the legendary Milhous Collection sold out. The sale grossed $38.3m in total.
The sale's highest price was commanded by a 1912 Oldsmobile Limited Five-Touring classic car. The vintage automobile rolled to $3.3m, a new World Record price for an Oldsmobile.
Bidders from 18 countries took part for a chance to own Americana collectibles from what was easily one of the world's finest private museums. The auction offered a vast array of automobiles, mechanical musical instruments and other collectibles.
Other highlights in the auction included a 1903 Ruth Style 38-B Fair Organ from the Milhous Collection's vast array of vintage musical instruments. It sold for $1,265,000.
Also auctioned from the collection's range of classic cars for sale was a rare and historic 1933 Chrysler Custom Imperial Five-Passenger Phaeton. It brought $1,210,000.
The Milhous Collection was assembled by brothers Bob and Paul Milhous over the past 30 years. What originally began as two separate collections was eventually pooled in the 1970s after the brothers entered into business together a few years prior.
Maybe they cottoned on to what increasing numbers of investors are realising year-on-year.
That, as demonstrated by big blockbuster sales like the $38.3m Milhous Collection auction, Americana and other collectibles are becoming increasing viable as 'alternative assets' for portfolio diversification.
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