OZZY OSBOURNE Stage Cape Sold For $14,000 At London Auction

A yellow-and-purple satin stage cape worn by Ozzy Osbourne at the California Jam Festival in 1974 sold for 8,000 pounds (approximately $14,400) at a London auction on Wednesday (Sept. 29), according to Bloomberg.com. The cape, which was valued at 4,000 pounds (approximately $7,200), sold to a buyer at Christie International's South Kensington offices who declined to say if he had bought it for himself.

Keith Moon's five-piece drum kit, custom-made for THE WHO drummer in 1968, sold for 120,000 pounds ($215,772) to an American collector, setting a world auction record for a set of drums, Christie's International said.

The price of the Premier brand drums, which Christie's had valued at no more than 15,000 pounds, was driven up by two bidders competing via telephone. They were part of a sale of pop memorabilia including MADONNA and BEATLES items that took in a total of 602,538 pounds including Christie's commission.

The sale showed that fans are willing to pay well over asking price for items associated with musicians who remain popular — even after their death. A 1964 poster for a ROLLING STONES concert in England sold for 6,000 pounds before Christie's commission, more than seven times the high estimate. Read more.

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