Word: auction
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...recent years, the auction business (led, in this regard, by Sotheby's) has shown wonderful ingenuity at such stratagems. There was, for instance, the sale in Switzerland in 1987 of the Duchess of Windsor's jewelry at which the rich of several nations paid five, 10, 20 times their value for baubles once owned by that calcified drone of a woman, merely because another drone had resigned the crown of England to marry her 50 years before. Then there was the Andy Warhol auction, also in 1987, at which bidders sent the price of the defunct celeb's $25 black...
...garage sale has nothing of historical significance in it. Even the famed rocking chair, factory-made in North Carolina not so long ago, turns out--like the leg bone of St. Mark or the Holy Prepuce--to exist in at least two versions, one at the start of the auction and one, to catch the laggards, at the end; and there is no way to know which one the presidential backside spent more time in. Quite right too. Only aura will count with the bidders...
What does a man who has a flourishing career, untold millions and one of the world's most lusted-after fiances need? How about the Batmobile? Illusionist DAVID COPPERFIELD bought the vehicle anonymously at auction for $189,599. So eager was Claudia Schiffer's betrothed to purchase the hot wheels from 1989's Batman that he paused during a show in Raleigh, North Carolina, and bid from the stage. Why? Surely not because of its alleged female-magnetic properties. "I live in a bat cave right now," says Copperfield, whose taste runs to the gothic. "So I might as well...
...squeeze its way back into the crowded skies as a low-cost carrier with 400 to 500 employees, many of whom will be recruited from original Pan-Am workers who were laid off. The new company, which bought the rights to the Pan Am name at a bankruptcy auction for $1.3 million, will be headed by Martin Shugrue, chief operating officer of the old Pan Am. Can it maintain altitude? "There are already too many empty seats flying right now," says TIME's John Greenwald. "It is hard to see how another low-cost carrier can make it in such...
...handout's chief sponsors are Republicans Jack Fields of Texas, who chairs the House telecommunications panel, and Senator Trent Lott of Mississippi. They argue that small TV broadcasters still need the subsidy, since they would be squeezed out of a spectrum auction by rich new competitors like AT&T, which can enter the TV business under the new law. Both large and small broadcasters are fighting back against Dole, noting that they will return the new channels after 15 years. Besides, they argue, without free airwaves they would have to charge viewers for digital programs...