'Jaws' sign, Chinese rug and the Brexit effect at Marion auction
Marion Antique Auctions' June 25 event saw a sign from the movie "Jaws" and a Chinese silk rug sell for more than seven times their estimated prices.
The Marion-based auction, a combination of Marion Antique Shop and Turkey Creek Auctions, attracts a local crowd as well as thousands across the world who participate via online and phone bidding.
Frank McNamee of Marion Antique Shop said the high bid for the "Jaws" sign, which was outside of Steven Spielberg's office during filming, was a "complete surprise."
The wooden sign was estimated to sell in the $1,000 to $2,000 range, but a bidder from Connecticut who collects "Jaws" posters paid $14,000 for it.
The silk rug was estimated to sell for $1,000 to $2,000 as well, but went for $34,000. The winning bid came from a phone bidder who is a high-end rug and fine arts collector from Florida, said McNamee.
Those were the two surprises, according to McNamee, and everything else went more or less for the estimated prices.
"It was overall a great success, and overall everything did real well," he said. "Early American furniture isn't really popular right now, so if there had to be a negative that would be it."
Interestingly, the auction benefited from the "Brexit" vote that happened in England just prior to the bidding. The day before the auction, the United Kingdom voted to leave the European Union, and according to McNamee, "it caused the stock market to kind of crash, but brought the metals market up, and we had a huge amount of silver that went up twenty percent overnight."



