Simon Kuznet's Nobel Prize valued in excess of $150,000

Simon Kuznets' 1971 Nobel Prize in Economic Sciences is to auction at Nate D Sanders with an opening bid of $150,000.

The sale is due to close on February 26.

Nobel Prize Kuznets
Kuznets was a groundbreaking and respected economist

Kuznets (1901-1985) is best known for his conception of the Kuznets Curve, which postulates that as economies develop inequalities increase rapidly before decreasing.

He was awarded the prize for his "empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development."

Nate D Sanders comments: "This is the fifth Nobel Prize ever put up for auction, and the first in the category of Economic Sciences."

Earlier this year James Watson, one of the scientists responsible for discovering the structure of DNA, sold his Nobel Prize for a record $4.7m.

The buyer, Russian billionaire Alisher Usmanov, later returned it to him.

Elsehwere in the sale, a signed copy of Michael Jackson's contract for the iconic Thriller music video carries a minimum bid of $25,000.

The lot is a standard security agreement that dates to October 10, 1983 and displays a strong signature from the star in red ink.

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