British Airways auctioned 17 pieces of the collection in an emergency, what is the estimated total p

According to information published by Forbes abroad, in order to reduce the operating pressure caused by the new coronavirus epidemic, British Airways will auction 17 art collections, which will be held in two installments in July. It is reported that the total price of the 17 pieces of the collection is as high as 1.7 million US dollars (equivalent to 11.87 million yuan). Affected by the epidemic, British Airways' parent company IAG had to cut 94% of its airlines' flights in the first fiscal quarter, losing $1.8 billion.

British Airways has an extensive art collection, with masterpieces by the likes of Damien Hirst, Peter Doig, Anish Kapoor, Chris Ofili and Tracey Emin. Some of them have already been exhibited at the company's headquarters, most of them have been displayed in the terminal's executive lounge as wall decorations, and some have been on display for thirty or forty years, and the value of these collections has increased over time.

Those in the know know that the value of a piece of collection depends on three things.

1.Artistic value. Antiques are first of all works of art, works of art have value, antiques not only whether the age is old to determine its value, but also to see whether there is artistic added value, the level of artistry is an important factor to determine the value of antiques.

2.Historical value. Antiques often represent the history and culture of the era in which it was produced, and it is not renewable, it will only become less and less, in a sense, the longer the antique survives, the more complete the shape of the vessel, the rarer the number of surviving people, the era it represents or.

3.To study the value, antiques were produced in a specific era, so we can study the politics of the society at that time through the antiques that have been handed down.

According to sources in the art world, appraisers at Sotheby's have already begun appraising the company's art collection.

One of the works, by the famous painter Bridget Riley, is estimated to cost "seven figures" and is currently hanging in the executive lounge at Heathrow Airport.

According to **, at least 10 works will appear on the auction market, and each of these works can be said to be priceless, but in order to cope with the losses caused by the epidemic, British Airways has to put them up for auction.

In response to the economic impact of the pandemic, British Airways will auction 17 pieces of the collection, with an estimated total price of up to $1.7 million, equivalent to 11.87 million yuan.

The total price of the 17 collections is as high as 1.7 million US dollars (equivalent to 11.87 million yuan), which is only a drop in the bucket compared to the epidemic losses.

British Airways will auction 17 works of art in two installments in July. The auction was also to reduce the airline's losses, so the total of these items was $170.