A steel railroad spike, also known as the 'Arizona spike' -- essentially a big nail for holding rails in place-- sold for $2.2 million recently.
What the?!?
Almost life-size here.
It makes more sense when you know it was THE 'golden' railroad spike used to link the railroad, coast to coast. Actually, it was gold and silver-clad, and the final meeting was in Colorado -- read my book, Ghosts & Legends of Colorado's Front Range, if you're curious. The railroad dignatories made a big deal about it, plus an elaborate ceremony, in Promontory Point, UT.
Says the post:
The spike was crafted to commemorate the completion of the world’s first transcontinental railroad in 1869, joining the eastern and western halves of the United States and connecting California with the industrial centers of the east.
Spearheaded by an act of Congress before the Civil War and taking six years to complete, the railroad’s construction is considered one of nation’s greatest technological feats of the 19th century, allowing commerce to thrive throughout the country, even in places far from sea routes.
The hammer price, incidentally, was more than four times the spike's initial estimate of $300,000-500,000. Some appraiser has egg on their face over this one. However, it is difficult to estimate the value of a one-of-a-kind piece, including sales and auction results. However, future appraisals will benefit from this one.
Take a look here to find out more. I, for one, am curious. How did the spike end up as part of the Museum of the City of New York? And why are they selling -- oops, 'deaccessioning' -- this piece? (They sold off some Andy Warhol memorabilia, too.)
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