Contents of the auction can be divided into three categories. The first is clothes, couture, and costumes, which include luggage and her makeup case and other sundries. The second category is film memorabilia from the making of her movies, correspondence between her and other stars, and souvenirs, such as Playbills.
The final category, Hume-Sayer said, is made up of professional portraits from her collection by such artists as Cecil Beaton. “Those are also mainly from films, but not exclusively,” he said. Of the handful of lots the auction house has released to the public, her annotated script for Breakfast at Tiffany’s carries the highest estimate, at 60,000 pounds to 80,000 pounds. “Without going into specific comparables, there is a record of important film scripts selling at auction,” said Hume-Sayer. (In 2005, Marlon Brando’s copy of The Godfather script sold for $312,000 at Christie’s in New York.)
The rest of the available high estimates are monopolized by Hepburn’s apparel: A blue dress by Givenchy carries a high estimate of 15,000 pounds, a range of ballet flats start at 1,500 pounds, and a gold cigarette lighter, inscribed “FOR MY FAIR LADY – GENE ALLEN” is estimated between 3,000 pounds and 5,000 pounds.
The photography in the sale carries what are arguably the most conservative prices. One photograph of Hepburn by Bud Fraker carries a high estimate of 800 pounds, while another is priced at 2,000 pounds. Those (comparatively) modest prices make intuitive sense, given they’re fine art photographs, and therefore fit within a distinct and identifiable market. “The photography has largely been valued as a work of art,” Hume-Sayer said. “The provenance has been taken into account, but less so than the intensely personal items.”
The more it meant to Hepburn, in other words, the more it is ostensibly worth to collectors. As more lots are announced, that might be the key to understanding valuations that bear little to no connection with the object’s normal value. “It’s that closeness to her person,” Hume-Sayer said, “that really resonates with people.”
This article was provided by Bloomberg News.