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Movie Poster Set to Break Record

In Bankruptcy Auction

Published: 06/24/2012 09:48pm
The most valuable movie poster in the world is set to be auctioned in a bankruptcy, according to Hollywood Reporter.  The poster is one of only four known remaining from the 1927 release of Fritz Lang’s Metropolis and is in the collection of Kenneth Schacter, which was seized in his Chapter 7 bankruptcy.  It set a record for a movie poster of $690,000 when Schacter bought it in 2005.  With record prices for key collectibles being made every few months (see "'Tintin' Cover Sold for $1.6 Million" and "'Action Comics' #1 Brings $2.16M"), it seems likely that this poster will set a new record as well. 
The collection also includes posters from King Kong and The Invisible Man (both from 1933), which are also expected to bring high prices.  Schacter was forced into Chapter 7 from Chapter 11 after it was discovered that he was attempting to sell the Metropolis poster for $850,000 after listing it as an asset in the bankruptcy worth $250,000.  The judge ruled that he had not been disclosing his full assets and converted the filing to Chapter 7. 
 
 
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