Celebrity culture has created a market for collectibles that is growing at unprecedented speed, writes Victoria Woodcock

Stage costumes on show at the Sotheby’s exhibition “Freddie Mercury: A World of His Own”

When “Freddie Mercury: A World of His Own” rocked up at Sotheby’s in London last August, it brought down the house. The exhibition of the late singer-songwriter’s personal effects attracted more than 140,000 visitors, often queuing around the block to get a glimpse of Mercury’s Yamaha Grand Piano—billed as “the instrument used to compose some of the greatest songs of the 20th century”—and his handwritten lyrics for hits such as “Bohemian Rhapsody” and “Don’t Stop me Now”. There were flamboyant, sequined stage suits, but also Qing Dynasty lamps and Japanese woodblock prints—not to mention an attractive silver mustache comb by Tiffany & Co. 

The 1,406 lots attracted 41,800 bids, and fetched a total of £40 million ($52 million). High on this success, the auction house now has a dedicated team for popular culture. “Some people think of us as the fun department,” says its director, Katherine Schofield. “And we very much are the fun department, but there’s also a lot of interest. Within the last three to five years, the area has really been seeing a big growth spurt—a lot more collections are coming onto the market, and the appetite for these collections is really significant.”

A Steinway grand piano from Abbey Road Studios, used in the recording of tracks by musicians Amy Winehouse and Lady Gaga, is part of the upcoming Sotheby’s Popular Culture auction

Unsurprisingly, pop culture auctions are, well, popular. “People like to see what something will sell for,” says Schofield, who has 20 years’ experience in this dedicated market. “With an artwork, a diamond or a piece of gold jewelry, there is a market value. But with our category, because it’s emotive, new and evolving, you sometimes quite simply don’t know what something is going to achieve. And that is what is so exciting.” Superfans can send prices stratospheric, and as new generations grow their wealth, so tastes evolve; younger collectors may be more drawn to a celebrity collectible than a Picasso.

Prince’s VOX HDC-77 electric guitar, which will be offered at the Popular Culture auction

At Sotheby’s, having a dedicated department that handles significant pop cultural artifacts, “elevates them and brings them to a new audience,” says Schofield. When the inaugural Sotheby’s Popular Culture auction opens for bidding on August 29, one of the top lots will be a guitar played by Prince—a VOX HDC-77 estimated at £200,000 to £300,000 ($255,000 to $383,000). Other musicians in the mix include Noel Gallagher, and The Beatles, who are a “mystical anomaly,” says Schofield. “There is still such huge buying power and collectability in that area—and there’s still new stuff coming to the market. I value things almost daily relating to the band that have never been seen before.” 

Schofield, though, suggests that passion is more often the motivation than speculation—and that pieces are bought to be displayed. “They’re often seen in the man cave, the cinema room or the games room,” she says. “It’s a talking piece to have a framed guitar or an item of clothing on your wall. It adds a different element to someone’s interior. They’re really striking.” 

Photographs: Stephen Chung / Alamy, Sotheby’s, Michael Spencer Jones

Sotheby’s Popular Culture auction runs from August 29th to September 12th; sothebys.com