Rare Metropolis Poster For Sale
Due to the bankruptcy case of a well-known collector, a collection of rare movie posters are headed to auction. Heading up the list is an art deco styled poster for Fritz Lang’s 1927 silent sci-fi movie classic Metropolis. Only four of these posters are believed to survive from the film’s original run, making it the rarest movie poster.
Kenneth Schacter paid $690,000 for the poster in 2005, setting a record that hasn’t been topped yet. But the rarity of the poster, the film’s status in history, and the design make it “the crown jewel of the poster world,” and it’s estimated that the piece could be the first poster to break the $1 million mark. Also being auctioned are Schacter’s 1933 King Kong poster and a 1933 teaser poster for The Invisible Man. The Kong poster is estimated to be worth nearly as much as the Metropolis poster, and his entire collection could be valued at as much as $5 million.
Last December Schacter filed for bankruptcy protection after he couldn’t pay back a loan to an investor who lent him $500,000 to buy posters that were intended to be sold for profit. In March the Metropolis poster turned up on an auction site for $850,000. The attempted sale of the poster led to a court ruling that changed Schacter’s filing from a Chapter 11 reorganization to a Chapter 7 liquidation. The poster was seized, along with a list of Schacter’s entire inventory, and after an investigation the collection will be auctioned off.
The auction date has not been announced, however it’ll likely happen by the end of the year, and probably through Heritage Auctions.