Word: auctioner
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...whose officials have consistently argued that it is unrealistic for Middle East states to maintain posted prices for oil that are four tunes as high as they were last fall. Richer in petroleum reserves than any other nation, Saudi Arabia announced last month that in early August it would auction off some crude without setting a minimum price. Its plans aroused high hopes, especially in the U.S., that this month would see the beginning of the long-awaited price fall. But it is now clear that those hopes must be postponed. The auction...
...Auction ItemWinning Bid Beatles Lunchbox $10.50 'Love Me Do' Single $6.00 Paper 'Beatlemobile' $10.00 Unreleased Album Cover $200.00 Revere Ringo Model $11.00 Beatle Sneakers $45.00 Beatle...
...hotel auditorium hosts the sale and auction. Baroque roses on the ceiling and wooden chandeliers seem incongruous with the psychedelic Beatle posters. Joe Pope, founder of Strawberry Fields Forever, serves as auctioneer. Wearing a white Beatle-buttoned tee-shirt and a tuxedo, Joe holds up a "Genuine Beatle Lunchbox." Well kiddies, you remember those little metal cases with the smiling faces of Paul, John, George, and Ringo. "OK, I have 50 cents, $2, $4, $5, $6...$10.50 once, twice, sold!" The crowd snatches up other rarities: a Beatlemobile, made of paper and string, for $10; a Revere plastic model...
More important, the Saudis announced that for the first time they will auction some of the more than 5 million bbl. of oil daily that they receive from their 60% ownership of the Arabian American Oil Co. (Aramco). Unlike Kuwait, which two weeks ago announced that it will no longer auction its crude because offered prices were too low, the Saudis will accept whatever they are bid. The first auction will take place in August and could involve most of Saudi Arabia's share of Aramco's output. Initially the oil will probably sell for as much...
Independent Profits Only 16 months after it was put on the auction block in the wake of a spectacular bankruptcy, Rolls-Royce Motors Holdings Ltd. is doing well indeed. After riding in the red for years, it has announced a pretax profit of $11 million on sales of $117 million...