DENVER, Pa., Aug. 3, 2015 /PRNewswire/ -- Dan Morphy, founder and president of Morphy Auctions, announced today that his firm has been chosen to auction the prestigious Kyle D. Moore petroliana collection, now owned by a private investor. According to Morphy, it is the most valuable collection ever to pass through Morphy's doors, having an estimated value of $15,000,000 to $20,000,000.
Containing more than 900 gas globes, 150 vintage gas pumps and 2,000 petroleum-related advertising signs, the collection was amassed over a 40-year period by Moore, a cable TV entrepreneur who died in March of 2014. Eight years prior to his demise, Moore sold the entire collection to an Oklahoma businessman.
"Even though the collection belongs to another individual, it is so famous within the hobby, it is still widely known by the nickname 'Kyle's Collection,'" said Dan Matthews, head of Morphy Auctions' Petroliana department. "After the collection was purchased, the buyer decided it should remain at Kyle Moore's house. It was a wise move, since the collection was purchased as an investment and was secure and well cared for right where it was."
Matthews said he had visited the collection at Moore's home seven or eight times over the last 15 years and that it is "the greatest of them all – the Holy Grail among collections of its type." There are signs worth up to $100,000 apiece and pumps worth as much as $30,000, Matthews said.
The collection will be dispersed in a series of four or five auctions, with the opener slated for October 5. Subsequent auctions will be held in 2016, starting with a January session.
"We are honored to be handling such a prestigious and highly regarded collection," said Morphy, whose Lancaster County, Pa., company holds world auction records in many categories, including antique advertising. "The market for petroliana is red hot right now, and the Kyle Moore collection is the best of the best in terms of quality, rarity and condition. We're expecting a very exciting series of sales."
Auction items will be on display at Morphy's gallery approximately 30 days before each auction session as well as online at www.morphyauctions.com. Tel. 717-335-3435
Catherine Watson, 310-492-5316
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/morphys-awarded-right-to-auction-legendary-kyle-d-moore-collection-of-gas-globes-pumps-and-petroleum-related-advertising-signs-300122397.html
SOURCE Morphy Auctions