October 19, 2018

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Objects From Titanic Wreck Set For Auction

Objects From Titanic Wreck Set For Auction

When the ship, Titanic, sank, on that bitter cold evening in April 1912, so much wealth sank to the bottom of the North Atlantic with the magnificent edifice, forming a watery grave for more than 1500 people, and seizing over 5000 artefacts. These items are set to go to auction next month to satisfy bankruptcy debt.

Three hedge funds have a made a bid of $19.5 million for the collection, and an auction will go ahead only if a rival bid raises that offer by $2 million.

The items are being sold altogether, rather than individually by Premier Exhibitions who have owned the items for so long, but filed for bankruptcy in 2016. They will be handling the exhibition in four different cities in U.S.

The items to be auctioned include papers, documents, and photographs are among the water-damaged objects in the collection.

A group of UK museums had been campaigning to secure the rights to the artifacts and display them in London and Belfast, the city in which the ship was built.

 

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