The collection of 1975 Popular Electronics magazines that were once owned by Paul Allen were sold at auction by Christie’s this week. GeekWire attempted to bid on a set of 12 issues of the magazine, hoping to secure a piece of tech history that inspired Allen and Bill Gates to launch Microsoft. The pre-sale estimate of $600 to $800 was within budget, but the final selling price far exceeded that amount, going for $4,410.
Auction expert Rachel Kaminsky provided insights into the world of high-end auctions and online bidding. With Paul Allen’s name attached to the item, Kaminsky expected a lot of interest and bidding on the magazines. She explained that the online auction protocol is different from in-person auctions and that most serious bidders wait until the last few minutes to place their bids.
Kaminsky believed that people from various backgrounds would be interested in bidding on the Allen items, including the geeky computer enthusiasts, mid-level wealthy individuals, and those with unlimited funds who simply wanted a piece of history. The provenance of the items, with Allen’s ownership, added significant value to them, driving up the prices beyond initial estimates.
Despite initially leading the bidding for the Popular Electronics magazines, GeekWire was outbid as the auction progressed, eventually going for more than four times the initial estimate. The total sales from the Christie’s auction of Allen items amounted to $16.8 million, with proceeds going to charitable causes as per Allen’s wishes. Kaminsky emphasized the unpredictable nature of auctions and the possibility of items falling through the cracks, leading to unexpected bargains for certain buyers.
Ultimately, the set of 1975 Popular Electronics magazines went to another bidder at a much higher price than initially expected. The experience served as a lesson in navigating high-end auctions and the unpredictable nature of bidding wars. While the bid did not result in a successful purchase, the attempt to acquire a piece of tech history from Paul Allen’s collection provided valuable insights into the auction world.
