|
|
 |
|
| Passion Investments: Collectibles |
Forever Young
Debra Ryono
03/01/2008
|
That was the situation for Azarian, who obtained the items in
his collection from private sales, auctions, studios and actors who worked on
the shows. "It’s very nostalgic, very emotional, bringing you back to a happier
time. It brings back great memories," he says.
 |  | A JOHNNY-Five robot from the Short Circuit movies sold for $138,000 (top). A B-9 from Lost in
Space is Joe Maddalena’s most-prized TV
item (bottom). (Photography by Profiles in History.) |
Azarian’s pieces would command high prices at auction—were he
inclined to sell them. "When I started collecting 15 years ago, memorabilia
wasn’t worth near what it’s worth now," he says. The value of a George Reeves
Superman costume, which he ranks as his most important item, has increased
tenfold since he bought it, he claims, though he won’t give a specific figure.
And although Azarian admits that early on he and his wife, Donna, had some
"discussions" about his purchases being "silly" and "wasteful," he believes she
is much more appreciative now that the values have risen. "It’s a pretty good
portfolio," he says. But he has sold only one item, and then only because he was
offered what he calls a "ridiculous" amount of money.
However, another aficionado is putting his massive collection
on the auction block in Palm Beach on March 15 and 16. Anthony Pugliese III is
a Florid a real estate developer who is also a cochairman of the independent
movie company World Films. He has credits as a producer and an actor, too.
Pugliese is divesting himself of some 850 items because he wants to concentrate
on Destiny, a small city he plans to build from scratch in central Florida.
Among the iconic items, which are being offered through Guernsey’s, are props
from Citizen Kane, The Wizard of
Oz, The Godfather, The Maltese Falcon and a host of TV shows. Many of the items were so significant that they
made headlines when they were originally sold, although Pugliese was not always
identified as the buyer. "It’s an overwhelmingly great collection that exceeds
anything I have ever seen in my 35 years in the field," Ettinger says. "Here
this man was, quietly accumulating the best of the best."
Planet Hollywood
The broad appeal of American movies and TV shows draws
collectors from around the globe, Ettinger notes. "It’s hard to define them. There are some buyers who come out of the woodwork with no obvious reason for
making a purchase, and if you speak with them, they’ll tell you that they bought
something from a movie because they went with their spouse on a first date to
see a film and would treasure something from that movie."
 | A GUARD costume from The Wizard of Oz commanded $115,000
each at auction. |
The burgeoning popularity of home theaters also contributes to
the wave of interest, Maddalena says, noting that the Planet Hollywood chain of
restaurants, launched in 1991, showed how memorabilia could be displayed. "What
it did was give people the idea that this is no different than pop
art—Lichtenstein or Warhol. It has the same emotional tug. There’s no
difference about how an art collector and I feel. It’s the desire."
Some collectors also prize items from more recent TV shows and
movies. For example, Hugh Jackman’s Wolverine claws from 2003’s X2: X-Men United
sold for $40,250 in June 2007, more than three times the expected price.
However, Ettinger warns against paying inflated prices for some newer items. A
Babe Ruth baseball, for example, sold for $126,000 in 1998. Just three months
later, the baseball that Mark McGwire slugged for his 70th home run in a single
season fetched $3.2 million. "If you’re a baseball fan, no way you would say
that Mark McGwire is 23 times better than Babe Ruth," Ettinger says. "But it was
in the moment."
Transient excitement can lead to bad investments. A Bruce Willis badge from Die
Hard once went for $10,000, Maddalena says,
but now a seller would be lucky to get $500. The Wizard of Oz, on the other hand,
which took years to recoup its production costs, is a classic today, and items
from the movie continue to appreciate.
|
|
|
|
|
|
|
