Faux Fur Coat sells for world record price at auction in London

A faux fur coat has sold at Kerry Taylor auctions for £20,400, setting a new world record price for such a piece. The 1934 Austin Reed mohair plush ‘teddy’ coat sold earlier this week along with two 1950s blazers and a ‘slightly moth eaten’ striped men’s bathing suit. The items were originally only expected to fetch upwards of £200-300, so you can imagine the surprised faces in the audience as bids rose higher and higher into the thousands.

So why such a massive price for a seemingly normal piece of vintage fashion? We asked Kerry Taylor to comment on the incredible price and she had this to say:

It
was a classic case of auction-fever taking hold of two individuals who just
didn’t want to back down. It occasionally happens – but this was a spectacular
example of what happens when common-sense goes out the of the window and
the desire to be the winning bidder takes over. Bonkers!

Bonkers, indeed!

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