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One giant sale: Neil Armstrong’s collection goes to auction

“The Armstrongs turned to Sarasota, Florida-based Collectibles Authentication Guaranty for help with preserving and authenticating the artifacts and memorabilia and chose Heritage Auctions for the sales” writes The Associated Press for seattletimes.com. The personal collection of Armstrong, who died in his native Ohio in 2012, will be offered for sale in a series of auctions handled by Dallas-based Heritage Auctions, beginning Nov. 1-2 and continuing in May and November 2019.Among the more personal items to be auctioned are a Purdue University centennial flag from Armstrong’s alma mater that traveled on…

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Exclusive: Brazil to delay auction for five of six Eletrobras distributors

“Centrais Eletricas Brasileiras, as Eletrobras is formally called, is seeking to offload the six heavily indebted distributors ahead of government plans to privatize the overall company” writes Midwest Communications Inc for 95kqds.com. MADRID (Reuters) – Brazil’s government will go ahead with the auction of one of state-owned utility Eletrobras’ power distributors planned for July 26, while delaying five others to Aug. 30, Planning Minister Esteves Colnago told Reuters on Monday.The lower house of Congress gave its approval earlier this month to privatize the distributors, but the Senate has yet to…

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Sepehri painting sells over $1.2 million at record-breaking Tehran Auction 

“The piece fetched about $550,000, was the second most expensive item sold at the auction. (Honaronline/Mohammad Namzi) An untitled painting by Sepehri was the third most expensive item sold at the auction” reports tehrantimes.com. Seventy-six works went under the hammer at the auction that broke the records of previous editions by grossing over 313 billion rials (about $7.5 million). Photo: Auctioneer Hossein Pakdel conducts an auction of contemporary Iranian art during the Tehran Auction at the Parsian Azadi Hotel on June 29, 2018 as an image of Sohrab Sepehri’s top…

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This sign of strain indicates U.S. bond auctions could get ‘sloppier’: Jefferies

“The ratio of bids accepted to bids received in bond auctions over the last three months have improved since the fourth quarter of 2017” writes Sunny Oh for marketwatch.com. On the other hand, recent bond auctions indicate investors are largely unperturbed by the uptick in debt issuance.Primary dealers, who are obligated to participate in Treasury auctions, bought up a larger share of recent debt sales.In line with the growing deficit, the Treasury Department has raised the size of its debt auctions, with much of the increases falling upon shorter maturity…

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Manheim auctions get high-tech overhaul

“A three-year, $400 million high-tech makeover of Manheim’s auction operations eliminated many such frustrations that buyers and sellers used to experience” writes James B for autonews.com. After rolling out the changes at one auction after another, Manheim deployed the project in April at its largest auction site: Manheim, Pa.Grace Huang, Cox Automotive?s president of inventory solutions, and Joey Hughes, general manager of the Manheim, Pa., auction, at a town hall.Different ways of doing business at each auction site. Source: autonews.com Share This:

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Boris Becker denies bankruptcy and applies for restraining order to stop auction of his Wimbledon trophies

“Boris Becker has denied that he is bankrupt and announced that he is taking out a restraining order to prevent the sale of his trophies” writes Wil Crisp for telegraph.co.uk. “Next week, my lawyers in England will apply for a restraining order to stop the auction,” he told Germany’s Bild am Sonntag tabloid.The retired tennis champion said in comments published Sunday that his lawyers will be applying for a restraining order to stop an auction of his belongings, which includes Wimbledon trophies he won at the height of his career.”This…

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Auction innovation

“When ADESA said it planned to enhance its online auctions, the announcement barely scratched the surface of what is to come” writes James B for autonews.com. But to maintain its leadership in upstream auctions, KAR is spending $20 million to $25 million over three years on a project it calls New Wave.The importance of those upstream auctions makes KAR’s latest push, which it calls Upstream Reimagined, significant.New Wave is an upgrade of the Openlane platform, which is the backbone of KAR’s online presence. Source: autonews.com Share This:

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33 Properties Sold In County Auction

“Louis County tax forfeited property auction last week brought in nearly 856 thousand dollars in the sale of 33 parcels” writes Midwest Communications Inc for 95kqds.com. Another tax forfeit auction is planned for October 11th in Virginia.The properties in the auction that didn’t sell are available on a first come-first served basis through the County Land and Minerals Department.Several parcels including a 25 acre site where the Clover Valley School once stood went unsold. Source: 95kqds.com Share This:

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Markets News Regulators 

Treasury yields hold steady after auction glut

“A flattening curve is seen as a sign that the bond market is expecting an economic slowdown” writes Sunny Oh for marketwatch.com. The 2-year note yield TMUBMUSD02Y, +1.31% added 1 basis point to 2.539%, while the 30-year bond yield TMUBMUSD30Y, +0.04% fell 0.7 basis point to 3.093%.Market participants will chiefly focus on changes to the policy statement, the projections for interest rates, and Fed Chairman Jerome Powell’s press conference.If the central bank issues a hawkish policy stance, bonds bought before the meeting will lose their value, suggesting market participants aren’t…

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: The Art World Is Easy to Dislike. Here Are Some Reasons Not to.

“But the contemporary art world, which is centered in New York but has spread to nearly every country in the world, is unique in its cyclical belief that the present is as bad as it gets” reports nytimes.com. Ever since Arthur Danto coined the term “artworld” in a 1964 essay, observers of this community have been pointing out possible harbingers of its demise in real time through a variety of recycled complaints: Museums are no longer repositories for our shared cultural history, but rather opulent arenas for perfunctory entertainment; galleries…

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