Metropolis movie poster auction brings $1.2m in bankruptcy sale
A poster for the 1927 movie Metropolis was consigned from the collection of Kenneth Schachter
A collection of rare movie posters, including an incredibly scarce example from the 1927 movie Metropolis, has sold as part of the bankruptcy auction of Kenneth Schachter.
Just part of Schacter's confiscated $5m collection
Held yesterday (December 13) in Los Angeles, the auction saw the collection sell for $1.2m in a single lot. The Metropolis poster formerly held the world record for a film posterafter it was purchased by Schachter for $690,000 in 2005.
German painter Heinz Schulz-Neudamm created the magnificent work for Fritz Lang's 1927 dystopian sci-fi movie, based on the novel by his wife, Thea Von Harbou. It has been described as "the crown jewel of the poster world", and is one of the most coveted items of vintage movie memorabilia.
Buyer Ralph DeLuca believes he will be able to resell the poster for $1m-2m in time.
Only four examples of the poster are known to exist, with one held in the Museum of Modern Art in New York. Schachter was forced to sell his coveted copy after he was unable to repay loans that he had received to buy film memorabilia.
Also included among the collection was an original King Kong poster, which is also highly sought after by collectors. A 1933 Style B three-sheet for King Kong sold for $388,375 at Heritage Auctions earlier this month, making a 288.3% increase on estimate.
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