If you decided to start a collection today, what would it be? And if you had the means, what pieces would you choose? I asked myself these questions earlier this year while viewing highlights of the Jim Irsay Collection auction at Christies. The headline grabbing sale, held in New York earlier this month, was a record-breaking multi-day extravaganza.
The late Jim Irsay (1959 – 2025) was an American billionaire, notably the CEO of the NFL team the Indianapolis Colts. Over 25 years, he assembled an extraordinary collection of 20th century pop culture icons. Irsay focused on rare guitars and the best of Americana, literature, sporting, movie, and music memorabilia.
Demand for pop culture memorabilia and vintage guitars has never been higher. As a valuer this auction offered a fascinating insight into how prices can evolve, within a relatively short period of time.
The first day titled ‘The Jim Irsay Collection: Hall of Fame’, took place on Thursday 12th March, and featured 44 lots. It was a feast for music and memorabilia fans.
The most astonishing price was achieved by Dave Gilmour’s iconic ‘Black Strat’, a 1969 Fender Stratocaster played by the legendary Pink Floyd guitarist throughout his career. The hugely important instrument, modified for Gilmour over the years, can be heard on numerous Pink Floyd recordings.
Gilmour temporarily retired the Strat in the 1990s, when it was loaned to the Hard Rock Café. Unfortunately, during this time it sustained considerable damage. Once returned and restored in the early 2000s, it was brought back on tour and for album recordings.
The ‘Black Strat’ had been purchased in June 2019 during Christies auction of ‘The David Gilmour Guitar Collection’. Then estimated at $100k – $150k, Irsay paid a world record price of just over $3.9 million. In the same sale he purchased a guitar case for $175k, again far exceeding the estimate of $1,000 – $2,000.
For this sale, the ‘Black Strat’ and the guitar case were offered together as lot 24, with a pre-sale estimate of $2m to $4m. Bidding was frenzied, with online and telephone battling it out. When the gavel eventually fell the Fender had smashed the existing world record for a guitar, and surpassed its previous figure by more than three times, selling for a total of $14.55 million! This enormous increase in price, in just a few years, was not uncommon for the sale.
‘Beatles for Sale’ had never been more apt with 30 Beatles lots available over all four days.
John Lennon’s upright piano (lot 11) broke the previous world record for a piece of Beatles memorabilia. The Victorian ‘Broadwood’ piano, was kept by Lennon at his homes Kenwood in Weybridge and later Tittenhurst Park in Sunningdale. Lennon used this piano to compose some of The Beatles most famous songs, including tracks for the seminal Beatles album Sgt. Pepper’s Lonely Hearts Club Band. Irsay, had purchase the upright in 2019 at auction for a reasonable $575,000. Christies estimate of $400k – $600k reflected this. In high demand, this time the piano achieved just over $3.2 million.
Two of the lots with the highest pre-sale estimates were for Ringo Starr drums, including lot 7. This piece changed the course of music history! ‘The Beatles’ ‘Drop T’ logo drumhead, used by Ringo during their legendary appearance on ‘The Ed Sullivan Show’ on 9th February 1964. Watched by a record breaking 73 million people, this performance was the moment the band ‘broke America’, starting the 1960s ‘British invasion’. The appearance was so popular they performed on the show again over the next two weeks, using the drumhead on all occasions.
Mounted in a later Ludwig shell, it was also played at their first US concert on 11th February 1964, and other important US performances that year. Originally sold by Sotheby’s in the 1980s, as part of the collection of the late Beatles road manager Mal Evans (1935 – 1976), the drum was acquired by Irsay in 2015, from an auction at Juliens in Beverley Hills for just over $2m.
This time offered with an estimate of $1m – $2m, it sold for a total of $2.88 million.
Lot 5 was a drum kit, acquired by Ringo Starr and The Beatles manager Brian Epstein in April 1963. This became Starr’s sole Beatles drum kit from May 1963 until early February 1964. The instantly recognisable kit was used by Ringo over 350 times, for live performances, TV appearances and recording sessions.
Irsay obtained the set at the auction of Ringo Starr’s collection in 2015 for $2.1 million (at that time estimated at $300k – $500k). For this sale, Christies estimate was $1m to $2m. This rare survivor sold for a similar $2.39 million.
The highest estimate of the sale came not for a Beatles piece – but for a different piece of music memorabilia – Kurt Cobain’s 1969 Fender ‘Mustang’ guitar.
The ‘Mustang’ has been described as Cobain’s favourite guitar. Again instantly recognisable to fans, it appears in the era-defining music video for Nirvana’s 1991 single ‘Smells Like Teen Spirit’. It features on both the Nirvana ‘Nevermind’ and ‘In Utero’ albums and is visible in numerous live performances.
Prices of memorabilia from the 1990s continue to rise. The guitar had been purchased by Irsay relatively recently, in May 2022, for $4.68m. Therefore, it was estimated at $2.5m to $5m. Prior to this sale, the world record for any guitar – set in 2020 – also belonged to a Kurt Cobain instrument, at just over $6m. This Fender surpassed that benchmark, establishing a new record for a Cobain-related guitar, selling for just over $6.9million.
Other notable guitars on day one included Jerry Garcia’s stunning custom built ‘Tiger’, bought by Irsay in 2002. It sold for the second highest price ever for a guitar (after the Dave Gilmour Strat sold three lots prior) of just over $11.5 million.
Lot 43 was an object I have coveted since it first appeared at auction in 2001 – Jack Kerouac’s original typescript scroll for ‘On The Road’. This work is one of the most important pieces in American literary history. At almost 120 feet long, the document was typed by Kerouac in April 1951 over a 20-day period. Irsay acquired it in 2001 for a then world record of $2.4 million. This time it was estimated at a seemingly conservative $2.5m to $4m. Despite the estimate it sold for a new world record of $12.135 million.
The second day titled ‘The Jim Irsay Collection: Icon’s of Pop Culture’ included 102 lots. The highest price was realised for another Kerouac typescript scroll, ‘On The Road’s’ sequel ‘The Dharma Bums’. Irsay had procured this one at a Sotheby’s in 2013, for just under $700k. The value in 2026? This time it sold for $1.65 million.
In movie memorabilia a prop ‘Golden Ticket’ from the 1971 film Willy Wonka and the Chocolate Factory was amongst the highest prices. Just like in the film, these tickets are worth looking out for. Golden Tickets do appear on the market occasionally and have been found in provincial UK salerooms. Irsay had bought this example at Heritage Auctioneers in Dallas, just over 3 years ago for $137.5k. Estimated at $60k to $120k its total was $203k.
The third day of the sale ‘Icons of Music’ showcased Irsay’s passion for guitars. The auction included 77 lots, sold on their merit as instruments, and not for their famous previous owners. Irsay had collected guitars manufactured throughout the 20th and 21st centuries, by significant makers including Fender, Gibson, Gretsch, and Martin.
The most expensive guitar was a 1939 acoustic ‘Martin D-45’ produced by C.F. Martin & Company. These instruments are considered the pinnacle amongst buyers, and only 91 pre-war examples are known to exist. As such, collectors keep a detailed record of their location and sale. This example had been purchased in 2012 from a specialist dealer for in the region of $185,000. Again, it sold for more than double this figure, achieving a final price of $393,700.
‘Icons of Music’ totalled just over $3 million.
The final sale was an online only auction of more affordable lots, ending on the 17th March. Three first edition copies of the ‘Alcoholics Anonymous’ text published in 1939, were offered. Irsay suffered with addiction issues during his life – these works outlining the ‘12 steps programme’ have helped millions of people since publication. The eventual selling prices ranged from $21,590 to $40,640.
The highlights were so great in number that over the course of the week-long event almost 30 world records were broken. The total for the first day alone being just over $84 million. The sale itself was record breaking, achieving the highest total ever for a memorabilia sale at $94.5 million.
To arrange a valuation of your collection, call us on 01883 722736 or email us at [email protected]
Stephanie has worked in the fine art and antiques industry for over 20 years. She is the former Department Director of Collectors sales at Bonhams Auctioneers. Stephanie was additionally the Head of Bonhams Entertainment Memorabilia department and is a recognised expert in Popular Culture.