Sotheby's London Auction Is All About Gold
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Sotheby's London Auction Is All About Gold

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Sotheby's London Auction Is All About Gold

The city of London is known for its central role in the global gold trade. It is also known for its many high-end auctions of rare collectibles, but it's not every day that these two areas overlap.

However, one such event combined a pricey auction with an entire lineup of gold items.

All That Glitters

Fittingly, the name of this big sale was billed as the "Midas Touch," referencing the legend of King Midas, a Phrygian monarch who was mythologized to have turned everything he touched into gold.

Walking through the 63 items in this auction, which was hosted earlier this week by the renowned auction house Sotheby's, you can see why the nod to Midas is appropriate. Everything is gold. Everything.

The huge assortment of gold items reaches ever-increasing levels of absurdity. Many of them are intriguing works of art, such as a painting made entirely of 24-karat gold that realized £1 million (about $1.3 million) alone.

Other pieces for sale were much stranger. For example, there was a full set of bedsheets that are made from 40% gold, with the rest of the material being silk.

Obviously, the notion that gold is associated with luxury and opulence is on full display here. The auction could very well have doubled as a gold-themed museum exhibit.

The head of sales for Sotheby's told The Guardian (U.K.) that this is the first time ever the firm has hosted an "all-gold" auction.

Perhaps most noteworthy was a gold 1977 Ferrari: a 512 Berlinetta Boxer model of the sports car is decked out in a special metallic gold finish, making it one of just four such Ferraris in the world. It sold for over $500,000.

You can check out more of the items that were offered and sold at the Midas Touch sale by following the link herein.

The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

About the Author

Everett Millman

Everett Millman

Analyst, Commodities and Finance
Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

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