{"id":382,"date":"2023-09-18T22:14:48","date_gmt":"2023-09-18T22:14:48","guid":{"rendered":"https:\/\/blog.therealest.com\/?p=382"},"modified":"2025-11-16T07:34:27","modified_gmt":"2025-11-16T07:34:27","slug":"dont-stop-me-now","status":"publish","type":"post","link":"https:\/\/therealest.com\/blog\/dont-stop-me-now\/","title":{"rendered":"Don’t Stop Me Now: Freddie Mercury’s Record Breaking Memorabilia Auction"},"content":{"rendered":"

[et_pb_section fb_built=”1″ disabled_on=”off|off|off” _builder_version=”4.7.7″ _module_preset=”default” background_image=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/FM.jpg” vertical_offset=”-116px” custom_padding=”68px||32px||false|”][et_pb_row _builder_version=”4.7.7″ _module_preset=”default” background_color=”#000000″ transform_scale_tablet=”116%|116%” transform_scale_phone=”128%|128%” transform_scale_last_edited=”on|phone” transform_translate_tablet=”” transform_translate_phone=”0px|-43px” transform_translate_last_edited=”on|desktop” transform_translate_linked_phone=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|desktop” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|desktop” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|desktop” transform_styles_last_edited=”on|phone” vertical_offset=”124px” z_index=”60″ width_tablet=”” width_phone=”” width_last_edited=”on|phone” custom_padding=”||38px|||” transform_styles_tablet=”” transform_styles_phone=””][et_pb_column type=”4_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/Dont-Stop-Me-Now.png” alt=”Illustration of %22Don\u2019t Stop Me Now%22 title with energetic colors” title_text=”Dont Stop Me Now” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”||-3px|||” custom_padding=”|54px||54px|false|true” custom_padding_tablet=”|58px||58px|false|true” custom_padding_phone=”|13px||13px|false|true” custom_padding_last_edited=”on|phone”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”||0px|||” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]This is the fourth edition of a multi-part blog series produced in partnership with Altan Insights<\/strong> on the key events and factors shaping the modern music memorabilia market.\u00a0Altan Insights<\/strong> provides data and quantitative analysis to help collectors and businesses navigate the emerging collectible asset markets.<\/span><\/em><\/span>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|desktop” _builder_version=”4.7.7″ _module_preset=”default” custom_margin_tablet=”-40px||||false|false” custom_margin_phone=”-56px||||false|false” custom_margin_last_edited=”on|phone” custom_padding=”0px||0px||true|” custom_padding_tablet=”” custom_padding_phone=””][et_pb_row _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|auto||auto|false|false” custom_padding=”||||false|false”][et_pb_column type=”4_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||20px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

Don\u2019t Stop Me Now: Collectibles Stories<\/span><\/h1>\n

<\/span><\/p>\n

Back in April of this year Sotheby\u2019s announced a 6-part sale made up of over a thousand objects from the collection of one Freddie Mercury. Spending a lifetime as the frontman of Queen endowed him, and thereby his estate, with countless artifacts connected to one of the most beloved bands of the last century. Instruments, outfits, fine art, knick-knacks, what have you\u2026Sotheby\u2019s sold it all. The sales were a smashing success, netting \u00a339.9 million against a low estimate of \u00a37.6 million initially forecasted by Sotheby\u2019s. Starting on September 6th, the House spent a week in London selling nearly every piece in Mercury\u2019s collection, by way of his ex-fiancee and long time friend Mary Austin. Mercury not only collected priceless objects from his career with Queen but was also an avid auction-goer. His proclivity for bidding was evidenced by lot 665 in the \u2018At Home\u2019 sale\u2013a collection of fourteen well-worn Sotheby\u2019s and Christie\u2019s sale catalogs from 1991, the year of his death. That lot, by the way, was only estimated to sell for between \u00a3200 and \u00a3300 but instead reached \u00a312,700. Over 63 times the low estimate.<\/p>\n

[\/et_pb_text][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/Catalogs.png” alt=”Collection of vintage catalogs and brochures fanned out” title_text=”Catalogs” align=”center” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|109px||109px|false|true” custom_margin_tablet=”” custom_margin_phone=”|-1px||-1px|false|true” custom_margin_last_edited=”on|phone”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”-52px||32px||false|false” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]<\/p>\n

PHOTO: Sotheby’s<\/i><\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||4px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop”]The initial evening sale that began the week of Freddie-mania, wherein a reported 140,000 people descended on Sotheby\u2019s London to view the collection, yielded an impressive \u201cwhite glove\u201d showing, meaning each and every lot that went up to the block was successfully sold. More impressively, the estimates of between \u00a34.8 million and \u00a37.2 million were decimated with a sale total of \u00a312,172,290 ($15.2mm) and an aggregate hammer of \u00a39,613,563 ($12mm).[\/et_pb_text][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/Piano.png” alt=”Grand piano in elegant, softly lit concert space” title_text=”Piano” align=”center” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|120px||120px|false|true” custom_margin_tablet=”” custom_margin_phone=”|1px||1px|false|true” custom_margin_last_edited=”on|phone”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”-52px||32px||false|false” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]<\/p>\n

PHOTO: Sotheby’s<\/i><\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||4px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop”]Even with certain higher-estimate objects like Mercury\u2019s piano or an Eugen von Blaas canvas selling below estimates, the aggregate hammer-to-low-estimate ratio was still 1.99. Meaning: even before fees, the total sales nearly doubled Sotheby\u2019s projections. Averaging the hammer ratios of all 59 lots in the evening sale would give you a hammer ratio of 9x, pulled up by the numerous lower end lots that severely outkicked their coverage. This phenomenon can be somewhat explained by Sotheby\u2019s head of single client sales, David Macdonald, who said:<\/p>\n

\u201cWhen it comes to the more everyday objects, the brief to the team was to please put these things up at market value because you can\u2019t anticipate someone\u2019s love for it \u2014 you can\u2019t value love\u201d<\/p>\n

Justification for imprecise estimates or marketing strategy to stir up bidding wars? You decide![\/et_pb_text][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/Millions-fo-lyrics.png” alt=”Handwritten lyrics of %22Millions%22 song on aged paper” title_text=”Millions fo lyrics” align=”center” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|120px||120px|false|true” custom_margin_tablet=”” custom_margin_phone=”|0px||0px|false|true” custom_margin_last_edited=”on|phone”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”-30px||32px||false|false” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]<\/p>\n

PHOTO: Sotheby’s<\/i><\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||4px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop”]The real star of the evening sale was the lyric sheets handwritten by Mercury in crafting some of Queen\u2019s most memorable tracks. Among the 27 Mercury lyric lots that were sold by Sotheby\u2019s 14 of them broke the six-figure barrier; the house\u2019s site only shows nine previous lyric lots to have previously done the same.<\/p>\n

In total, the 27 lyric lots found \u00a34.9 million against an aggregated low estimate of just \u00a32 million. This surge in lyric sales underscores the immense value collectors see in pulling back the curtain on his creative process. It is maybe an explanation into why the piano went relatively underappreciated compared to these lots. The handwritten lyrics give collectors a glimpse into the creative process of one of music\u2019s most beloved songwriters; the piano – albeit a very nice one – may have many stories to tell, but collectors can\u2019t see the various trials and tribulations of the songwriting journey. Not to mention it\u2019s far easier to find a spot for a piece of paper than a grand piano. Though if you\u2019ve got the cash for either, you probably have the real estate for it. Sotheby\u2019s has become somewhat of a specialist when it comes to selling the collections of British rock stars. Before Mercury, Elton John and David Bowie both sold their collections at the house, achieving similar success to the Mercury sale. Bowie\u2019s sold for \u00a324.4 million against a low estimate of \u00a38.1 million in 2016 and Elton John\u2019s totaled $8.22 million against a low estimate of $5.1 million in 1988. The context of each sale is as deep as the collections they were selling. Elton John\u2019s is more comparable to this most recent sale, using the sale as a means to clean out his home of decades of early career memorabilia and start fresh. Freddie is sadly not alive to use this sale to \u201cclean house\u201d, but Mary Austin, his longtime friend and steward of his collection did note that selling the collection will allow her to move on. She sold nearly all of Freddie\u2019s possessions, keeping only a few photos and personal items. Mercury and John\u2019s sales were replete with more than a thousand objects each. Anything and everything was on the table: furniture, mementos, clothing, sunglasses, records (platinum and otherwise). These sales gave hundreds of fans the opportunity to own a piece of the artist, however insignificant a stinky Adidas bag would have been to Mercury if he were alive today. Very curious to know what he would think about someone paying \u00a310,795 for his sweat soaked bag though\u2026[\/et_pb_text][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/adidas.png” alt=”Close-up of Adidas logo on fabric material” title_text=”adidas” align=”center” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|120px||120px|false|true”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”-26px||32px||false|false” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]<\/p>\n

PHOTO: Sotheby’s<\/i><\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||4px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop”]Bowie\u2019s sale was much more traditional when it came to auction. His 2016 sale was made up of only 350 lots, nearly all of which were works of fine art from established artists. Bowie began collecting art in earnest in early 1993 when he began working with art advisor Kate Chertavian. Bowie\u2019s tastes aligned with the modern art market much more so than Elton John\u2019s or Freddie Mercury\u2019s; the few paintings seen in the latter sales were mostly Old Masters that rarely receive as much attention as Impressionist and Contemporary offerings. Bowie, on the other hand, collected names like Basquiat, Hirst, Duchamp, and Picabia, along with quite a few works from modern British painters like Frank Auerbach and David Bomberg. With big contemporary names, it\u2019s harder to understand the impact of rockstar provenance on the value of a work. Bowie\u2019s name was certainly additive to the price, but 2016 was a good time to sell a Hirst or Basquiat work anyway. The confluence of factors to the upside may have skewed the perception of the importance of Bowie\u2019s name in the provenance. Mercury\u2019s collection, however, featured quite a few artists that rarely see the limelight, composed mainly of 19th and early-20th century portraits. The standout among these artists is John Bagnold Burgess. Mercury owned two of his portraits, \u201cA Spanish Girl\u201d and \u201cThe Offering\u201d, both exquisite oil paintings acquired in 1991 during a buying frenzy in the last months of his life. During this time, he acquired several works as gifts for close friends including Mary Austin and Elton John.[\/et_pb_text][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/The-Offering.png” alt=”The Offering album cover artwork with abstract design” title_text=”adidas” align=”center” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|120px||120px|false|true”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”-32px||32px||false|false” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]<\/p>\n

The Offering
\n\u200d<\/em>JOHN BAGNOLD BURGESS<\/span><\/i><\/span><\/p>\n

PHOTO: Sotheby’s<\/i><\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||4px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop”]Freddie purchased these works for just \u00a33,960 (The Offering) and \u00a34,400 (A Spanish Girl), and they sold for \u00a382,550 and \u00a343,180 respectively, generating CAGRs of 9.95% for the first and 7.39% for the second. It\u2019s unlikely these works would have sold for such sums if they were not owned by Mercury. This becomes especially apparent when you consider the last five recorded Bagnold Burgess sales detailed on LiveArt generated an average hammer ratio of 0.82 and an average price of around $20,000. \u2018The Offering\u2019 and \u2018A Spanish Girl\u2019 hammered at 20.47 and 8.57 times the low estimate respectively. Other artists like Eugen von Blaas and William Russell Flint found their way above estimates, but more narrowly, though works by these artists in the Mercury sale did notch higher prices than their works in any other sale. Flint works in the \u2018At Home\u2019 sale hammered at an average of \u00a326,206 vs. \u00a31,710 when sold normally. As far as name-brand artists go in the Mercury sales, there were at least four depending on who you count. Henri Matisse, Marc Chagall, Pablo Picasso, and Salvador Dali made appearances in the evening sale, but not a single canvas was offered among them. All were either quite small works on paper or editioned works. It would seem that the Freddie provenance did the trick here as each flew past their high estimates.[\/et_pb_text][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/Jaqueline-au-chapeau-noir-.png” alt=”Woman wearing black hat and sunglasses in black-and-white photo” title_text=”Jaqueline au chapeau noir” align=”center” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|120px||120px|false|true”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”-32px||32px||false|false” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]<\/p>\n

Jaqueline au chapeau noir<\/span><\/i><\/span><\/p>\n

PABLO PICASSO<\/i><\/p>\n

PHOTO: Sotheby’s<\/i><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||4px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop”]Most impressive was a Picasso print expected to sell for between just \u00a350,000 and \u00a370,000 that ended up finding a final price of \u00a3190,500 ($237,909) with fees. One might think it normal for a Picasso work to reach into the six figures, but it\u2019s worth knowing that the man created countless editioned sets, and collectors regularly pick them up for low 4 figure prices. This one, depicting his second wife Jacqueline, is more desirable than most. However, it\u2019s difficult to say whether the premium to estimate was derived more from the Mercury provenance or the scarcity of the set.[\/et_pb_text][et_pb_image src=”https:\/\/therealest.com\/blog\/wp-content\/uploads\/2023\/09\/FM-1.jpg” alt=”Vintage FM radio tuner with dials and frequency scale” title_text=”FM” align=”center” _builder_version=”4.7.7″ _module_preset=”default” custom_margin=”|120px||120px|false|true”][\/et_pb_image][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”12px” text_line_height=”1.4em” custom_margin=”-14px||32px||false|false” custom_padding=”|77px||77px|false|true” custom_padding_tablet=”|68px||68px|false|true” custom_padding_phone=”|19px||19px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”10px” text_font_size_phone=”7px” text_font_size_last_edited=”on|phone”]<\/p>\n

Cred: Denis O\u2019Regan<\/em><\/figcaption><\/figure>\n

[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font=”|300|||||||” text_text_color=”#000000″ text_font_size=”18px” custom_padding=”0px||4px||false|false” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|desktop”]In spite of a subdued art market, the Mercury sale offered a reprieve from the doom and gloom. The Mercury collection reminds us that the value of art and collectibles often transcends standard valuation philosophy. As Sotheby’s showcases the rich tapestry of these rock stars’ lives, it paints a vivid picture of the growing opportunities in merging art, memorabilia, and storytelling.[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

The Mercury collection reminds us that the value of art and collectibles often transcends standard valuation philosophy.<\/p>\n","protected":false},"author":1,"featured_media":404,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/posts\/382"}],"collection":[{"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/comments?post=382"}],"version-history":[{"count":18,"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/posts\/382\/revisions"}],"predecessor-version":[{"id":689,"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/posts\/382\/revisions\/689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/media\/404"}],"wp:attachment":[{"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/media?parent=382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/categories?post=382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therealest.com\/blog\/wp-json\/wp\/v2\/tags?post=382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}