Deals

Titanic Relics on Auction Block Starting at $19.5 Million

Premier Exhibitions CEO offers to start bankruptcy bidding
Judge sets October 18 hearing to give final sale approval

This terrible scene, painted by German artist Willy Stoewer, depicts the sinking of the Titanic.
Source: Bettmann via Getty Images

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By Jef Feeley and Dawn McCarty

September 12, 2018 at 6:02 PM UTC

Updated on

September 12, 2018 at 7:00 PM UTC

A company that owns 5,500 relics from the sunken luxury liner R.M.S. Titanic won approval for a proposed sale of the artifacts, with the chief executive officer leading a group that’s kicking off the bidding for the items.

A $19.5 million offer from the group, led by Premier Exhibitions Inc. CEO and director Daoping Bao, will be the opening bid for the collection at an October auction, according to court filings. Bao is also the company’s largest shareholder.