The beaded war shirt which once belonged to Native American leader Chief Joseph has resurfaced with a new price tag - two months after it was sold in May.
The shirt sold for $482,500 in Sotheby's American Indian Art sale on May 16, having just about topped its low estimate of $400,000. However, it is set to appear at the 2012 Coeur d'Alene Art Auction in Nevada - which will be held tomorrow (July 21) - with a new estimate of $800,000-1.2m.
Paul Fraser Collectibles attributes this new valuation to the current success of Native American artefacts at auction, though we believe this is likely a wishful estimate.
2012 has seen some stunning results so far in this sector, including the world record price achieved by a Navajo blanket in June. More impressive results are due in October, when Edward S Curtis' The North American Indian books are expected to bring $1.75m.
Chief Joseph was the leader of the Nez Perce tribe and ranks among the most important Native American warrior chiefs. He is famed for his defiant stand against the US army, when he refused to move to a reservation in Idaho. Joseph led his people in a planned escape to Canada, though they were defeated after a four day siege close to the border. From this moment on, he vowed: "I will fight no more forever," and became a peaceful advocate of his people's cause.
Paul Fraser Collectibles has an authentic strand of hair from the Apache leader Geronimo, which is beautifully presented on a display card that is perfect for framing. We also have an incredibly rare autograph from George Custer, the US general who was famously defeated at the Battle of Little Bighorn.