Based in Scottsdale, Arizona, Iconic Auctions sells precisely what their name implies – iconic items. With a primary focus on autographs and memorabilia within the fields of pop culture and history, Iconic Auctions has established itself as a prime source for collectors all over the world.
Their recent auction had many great items, but one lot stood out more than all other lots. As collecting autographs goes, there are few – in any – names that are more sought-after than the four Beatles members. Just an autograph by any one of the Fab Four is valuable, especially John Lennon. But having a fully signed set by all could easily be the highlight of any autograph collection.
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The first lot of the auction had a very interesting selling point. The auctioneer stated that it's the finest Beatles-signed photo in existence. It's a beautiful black and white publicity photograph in the perfect eight by ten inches size, signed by all four Beatles members: John Lennon, Paul McCartney, George Harrison, and Ringo Starr.
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The famed image was taken by photographer Henry Grossman on February 27, 1965 on Balmoral Island in The Bahamas while filming the 1965 movie Help!, which starred The Beatles. The autographs were obtained in March or April 1965, with all four signatures being perfect.
We had the pleasure of sitting down with Jeff Woolf, President of Iconic Auctions, who commented, "It's exactly what we had stated in the listing, and is what I firmly believe. I've been dealing with vintage Beatles for 20+ years, and I've simply never seen a finer signed photograph."
It's always difficult to place an estimate on any item, especially when they are extremely rare. We asked Jeff about his and the consignor's expectations for this item.
"We talked at length about the photo and knew we had something special," he said. "The previous record for a Beatles-signed photograph was $37,000, which we set in June of this year, and I told the consignor that there was a strong likelihood that we'd meet and exceed that number. The final result of this photo well exceeded our initial expectations. But I've come to realize that those types of results are possible when quality and rarity converge."
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The hammer price, including the buyer's premium, exceeded $100,000 more than Jeff and the consignor expected. From thoughts of $35,000 to $40,000, it's fair to say that the total selling price of $143,000 shocked everyone. However, looking at the quality of the item, it's perhaps not as shocking since the item is flawless.
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Every time a new auction record is set, there are always thoughts about whether the item is too expensive, and debates are beginning about whether it's a good investment. Jeff strongly believes the item is still an excellent investment, although sold at a record price.
"Yes, I believe the collectibles market has a pretty solid track record of showing that the best example of an item in any particular category will always reset the market to new heights when it appears for sale. So, while this photo set the record with a lofty result right now, that record will likely be broken down the road if/when this photo ever comes to the market again. It's happened repeatedly with exceptional examples, and this photo is certainly one of those exceptional examples."
