The bidding period has been extended to Friday, November 29, 2013 at 5:00 pm ET US.
This post is a Bidding Notification regarding the auction of the “Disaster Vessel Books” of Atlantic Mutual Insurance Company by Avila Fine Arts, Ltd.
We are delighted to announce that the highest bid to date is $1,750,000.00 (US), and the bidding period will end at 11:59pm ET US on Thursday, October 31, 2013. The winning bid will be announced shortly thereafter.
For those who are participating in this bidding process and would like to set up an appointment to see the book collection please contact Maggie Gilligan [mgilligan at avilafinearts dot com or +1 908-532-0002] for the Confidentiality Agreement that is required by all bidders prior to viewing the collection.
To submit another bid or for any questions please email Cynthia Hoogland [choogland at avilafinearts dot com]. Please include “AMIC – DV Books” in your subject line of your email.
All bids, questions and answers will be posted on the blog.
October 1, 2013 Highest Bid: $1,750,000.00
Avila Fine Arts has been working with Doyle New York to offer Atlantic Mutual’s insurance policy of the Titanic for auction. It is available for viewing now and will be on auction April 24. This is another piece of the large store of treasures we are liquidating for Atlantic Mutual regulators.
NEW YORK, April 17, 2013 /PRNewswire/ — An important relic of nautical history will be auctioned on Tuesday, April 23 in New York. The original ledger page of the insurance policy taken out on the Titanic by the Atlantic Mutual Insurance Company will go on the block at Doyle New York, one of the world’s premier auctioneers. Estimated at $30,000-50,000, the insurance policy was written on behalf of the Oceanic Steam Navigation Company Limited, better known as The White Star Line…The exhibition is open to the public on April 19-22 at Doyle New York, located at 175 East 87th Street in Manhattan. The fully illustrated auction catalogue may be viewed online at DoyleNewYork.com. Interested bidders may call Doyle New York at 212-427-2730.
Avila Fine Arts is handling the distribution of Atlantic Mutual’s art collection to auction houses as the insurance company is being liquidated.
Read more about this exciting project we are working on in the Wall Street Journal’s article, “Finding Treasures Among Insurer’s Wreckage.” Here is an excerpt:
…Cynthia Hoogland, the owner of Avila Fine Art who is cataloguing the collection, had identified 245 artifacts.
A favorite is an 1850 letter from 14 clerks to the company’s then president. They “respectfully” requested “gas fixtures may be affixed to our respective desks” in place of sperm-oil candles. The switch, they wrote, would cut down on “injury to our eyes from the constant flickering” and improve their performance.
“What a great, humble letter” in beautiful penmanship, Ms. Hoogland says.
The Disaster Books, with some entries handwritten and others comprising pasted-in newspaper clippings, cover all sorts of marine mishaps spanning a century: Ships run aground or sunk in hurricanes, damaged by uncharted wrecks or bumping into one another, and cargoes burned.
While Lloyd’s of London has publicly accessible maritime archives, Atlantic Mutual’s might be the most comprehensive in the U.S., chronicling everything from “nautical fender benders to major disasters,” says Charles Haas, who used the company’s collection to research a book he co-wrote about the Titanic’s operator, White Star Line.