Accessibility links

USA

Reagan Auction Items Sell for 10 Times Estimate in New York

  • Reuters

FILE - A pair of Ronald Reagan's cowboy boots sit in a case at Christie's prior to an auction in New York, Sept, 16, 2016. The boots sold Friday for $199,500.

FILE - A pair of Ronald Reagan's cowboy boots sit in a case at Christie's prior to an auction in New York, Sept, 16, 2016. The boots sold Friday for $199,500.

A chunk of the Berlin Wall and a pair of cowboy boots that belonged to late U.S. President Ronald Reagan sold for 10 times their estimated value at a New York auction that brought in more than $5.7 million.

Christie's auctioneers said Friday that more than 1,200 bidders from all over the world registered for the two-day sale of items from the private collection of Ronald and Nancy Reagan.

The 25-inch (63-centimeter), graffiti-covered fragment of the Berlin Wall, signed by Reagan, sold for $277,500 to an undisclosed buyer. It had been expected to fetch up to $20,000.

The wall fragment was considered to have particular significance because of Reagan's 1987 speech in West Berlin, in which he famously urged then-Soviet leader Mikhail Gorbachev to "tear down this wall."

FILE - Furniture and other items are displayed at Christie's in New York, where items from the former president and Nancy Reagan's California home were set to be auctioned, Sept. 16, 2016.

FILE - Furniture and other items are displayed at Christie's in New York, where items from the former president and Nancy Reagan's California home were set to be auctioned, Sept. 16, 2016.

Nancy Reagan died in March of congestive heart failure, 12 years after Ronald Reagan, one of the most popular U.S. presidents, succumbed to Alzheimer's disease. Their personal items were sold by the family trust to benefit the Ronald Reagan Presidential Foundation and Institute in California.

Reagan's cowboy boots, a gift from Western movie actor Rex Allen, sold for $199,500, far exceeding a pre-sale estimate of $20,000, while at $319,500, the top lot was a Bulgari diamond, sapphire and ruby ring — inspired by the U.S. flag — that Nancy Reagan wore on July 4, 1986.

"The market's response to this landmark collection sale has been remarkable, with the overall results far exceeding pre-sale expectations," said Brook Hazelton, president of Christie's America.

The auction continues online through September 28.

XS
SM
MD
LG