Nobel Prize Medals
1934 Liver and Anemia
2015 SOLD for $ 550K including premium
Medicine and pharmacy made significant progress by empirical experiments. The Nobel Prize in Physiology or Medicine highlights a long list of victories over previously incurable diseases. It was awarded in 1934 to Whipple, Minot and Murphy for their work on the diet of pernicious anemia.
The mechanism of the disease is not known when Whipple presumes that the liver has a role in it. He shows on dogs that the absorption of liver reverses the effects of an induced anemia. In 1926, Minot and Murphy use his results to prepare liver juice for patients showing syndromes of pernicious anemia. The disease is defeated.
The pharmaceutical story does not end at that point, fortunately. As early as 1928, another researcher who was not honored in the Nobel prize improved the diet by injecting liver extracts to the patient, avoiding him a daily swallow of a big quantity of liver food. In 1948, the cause of the pernicious anemia is identified as a deficiency of absorption by the intestine of a previously unidentified vitamin.
On September 21 in New York, Bonhams sells in one lot the Nobel medal and diploma awarded to George Minot along with various related documents, lot 46 estimated $ 200K.
One of these documents is particularly noteworthy. Minot suffered from a severe diabetes. He had been saved from death by the discovery of insulin in 1921. Frederick Banting wrote from Toronto to congratulate him on his Nobel and to comfort him by stating that good quality insulin is also available in Sweden.
I invite you to watch the video shared by Bonhams.
The mechanism of the disease is not known when Whipple presumes that the liver has a role in it. He shows on dogs that the absorption of liver reverses the effects of an induced anemia. In 1926, Minot and Murphy use his results to prepare liver juice for patients showing syndromes of pernicious anemia. The disease is defeated.
The pharmaceutical story does not end at that point, fortunately. As early as 1928, another researcher who was not honored in the Nobel prize improved the diet by injecting liver extracts to the patient, avoiding him a daily swallow of a big quantity of liver food. In 1948, the cause of the pernicious anemia is identified as a deficiency of absorption by the intestine of a previously unidentified vitamin.
On September 21 in New York, Bonhams sells in one lot the Nobel medal and diploma awarded to George Minot along with various related documents, lot 46 estimated $ 200K.
One of these documents is particularly noteworthy. Minot suffered from a severe diabetes. He had been saved from death by the discovery of insulin in 1921. Frederick Banting wrote from Toronto to congratulate him on his Nobel and to comfort him by stating that good quality insulin is also available in Sweden.
I invite you to watch the video shared by Bonhams.
1962 The Invention of the Molecular Biology
2014 SOLD for $ 4.8M including premium
The birth of molecular biology is the result of a multidisciplinary cooperation between chemists, physicists and biologists. The existence of nucleic acids in the cell nuclei had been identified in the nineteenth century. From 1939, advances in micro-radiography X gave hope to understand the structure of these molecules.
Scientists had identified two types of acids, RNA (ribonucleic acid) in the cytoplasm of the cell and DNA (deoxyribonucleic acid) in the chromosomes. They appreciated that these acids held the key to the functioning of life.
Two British laboratories of crystallography worked collaboratively. Francis Crick, assisted by the young US doctor James D. Watson, was at Cambridge. In London, Maurice Wilkins was assisted by Rosalind Franklin who perfected the techniques of observation and realized the radiograms. The untimely cancer of Rosalind Franklin is probably due to an excess of radiation dose.
The single helix of RNA structure and the two strands of DNA were among the first discoveries. In 1953, Watson understood that the shapes of the elements of the two DNA strands were identical although these elements were different. Crick and Watson immediately developed the model of the double helix, which was the biggest breakthrough of all time in the field of life sciences.
The letter written by Crick to his young son showed that he was aware of the importance of the discovery. It was sold for $ 6,05M including premium by Christie's on April 10, 2013.
The Nobel Prize in Physiology or Medicine was awarded to Crick, Watson and Wilkins in 1962. Crick's Nobel medal and diploma were sold as a single lot for $ 2,27M including premium by Heritage on April 11, 2013.
Watson, now 86 years old, entrusted Christie's to sell his Nobel memories, offered in three lots on December 4 in New York. The Nobel medal with its case is estimated $ 2.5M, lot 1. His handwritten notes for the acceptance speech are estimated $ 300K,lot 2.
The manuscript of his Nobel lecture on the role of RNA in protein synthesis is estimated $ 200K, lot 3. Less than ten years after the discovery of the double helix, this theme highlighted the fact that the physicochemical mechanisms of life were already fully explained.
A portion of the proceeds from the sales will be donated by Dr. Watson to the benefit of scientific research and charities.
RESULTS INCLUDING PREMIUM
medal : $ 4.8M
speech : $ 365K
lecture : $ 245K
Scientists had identified two types of acids, RNA (ribonucleic acid) in the cytoplasm of the cell and DNA (deoxyribonucleic acid) in the chromosomes. They appreciated that these acids held the key to the functioning of life.
Two British laboratories of crystallography worked collaboratively. Francis Crick, assisted by the young US doctor James D. Watson, was at Cambridge. In London, Maurice Wilkins was assisted by Rosalind Franklin who perfected the techniques of observation and realized the radiograms. The untimely cancer of Rosalind Franklin is probably due to an excess of radiation dose.
The single helix of RNA structure and the two strands of DNA were among the first discoveries. In 1953, Watson understood that the shapes of the elements of the two DNA strands were identical although these elements were different. Crick and Watson immediately developed the model of the double helix, which was the biggest breakthrough of all time in the field of life sciences.
The letter written by Crick to his young son showed that he was aware of the importance of the discovery. It was sold for $ 6,05M including premium by Christie's on April 10, 2013.
The Nobel Prize in Physiology or Medicine was awarded to Crick, Watson and Wilkins in 1962. Crick's Nobel medal and diploma were sold as a single lot for $ 2,27M including premium by Heritage on April 11, 2013.
Watson, now 86 years old, entrusted Christie's to sell his Nobel memories, offered in three lots on December 4 in New York. The Nobel medal with its case is estimated $ 2.5M, lot 1. His handwritten notes for the acceptance speech are estimated $ 300K,lot 2.
The manuscript of his Nobel lecture on the role of RNA in protein synthesis is estimated $ 200K, lot 3. Less than ten years after the discovery of the double helix, this theme highlighted the fact that the physicochemical mechanisms of life were already fully explained.
A portion of the proceeds from the sales will be donated by Dr. Watson to the benefit of scientific research and charities.
RESULTS INCLUDING PREMIUM
medal : $ 4.8M
speech : $ 365K
lecture : $ 245K
1962 Award for the Double Helix
2013 SOLD 2.27 M$ including premium
The progress in the crystallographic analyses of molecules enabled the greatest scientific discovery of the last century. In 1953, by inspecting the X-ray photographs of components of biological cells, two researchers at Cambridge, England, built the double helix model of the deoxyribonucleic acid (DNA).
Both strands of the helix are connected by regularly spaced links which are always constituted by a pair of chains in two couples of possibilities. When the strands are disjoined, the helix is restructured with organic matter for the creation of the second strand of a new double helix with the same genetic message as the original DNA molecule.
Crick and Watson knew immediately that they had found the secret of the transmission of information in biological material. With this key, molecular biology soon became a major science, leading to understand cell differentiation and biodiversity.
In 1962, the Nobel Prize in Physiology or Medicine is awarded to Crick, Watson and Wilkins. The Nobel gold medal and diploma attributed to Francis HC Crick are presented in a single lot, estimated $ 500K, in the sale organized by Heritage in New York on 10 and 11 April. Here is the link to the catalog.
Before Crick and Watson, no geometer, no artist had imagined this compact and steady structure.
POST SALE COMMENT
The result, $ 2.27 million including premium, exceeds all expectations. It was impossible to really estimate it prior to the sale because of the scarcity of Nobel medals on the market and of the importance of the scientific work rewarded by this one.
The price recorded the day before by Christie's on the letter of the scientist to his son, $ 6.05M including premium, also certainly had a positive effect on this lot.
Both strands of the helix are connected by regularly spaced links which are always constituted by a pair of chains in two couples of possibilities. When the strands are disjoined, the helix is restructured with organic matter for the creation of the second strand of a new double helix with the same genetic message as the original DNA molecule.
Crick and Watson knew immediately that they had found the secret of the transmission of information in biological material. With this key, molecular biology soon became a major science, leading to understand cell differentiation and biodiversity.
In 1962, the Nobel Prize in Physiology or Medicine is awarded to Crick, Watson and Wilkins. The Nobel gold medal and diploma attributed to Francis HC Crick are presented in a single lot, estimated $ 500K, in the sale organized by Heritage in New York on 10 and 11 April. Here is the link to the catalog.
Before Crick and Watson, no geometer, no artist had imagined this compact and steady structure.
POST SALE COMMENT
The result, $ 2.27 million including premium, exceeds all expectations. It was impossible to really estimate it prior to the sale because of the scarcity of Nobel medals on the market and of the importance of the scientific work rewarded by this one.
The price recorded the day before by Christie's on the letter of the scientist to his son, $ 6.05M including premium, also certainly had a positive effect on this lot.
1963 The Nerves of the Squid
2015 SOLD for $ 800K including premium
The knowledge of the physico-chemical functioning of life made its breakthroughs in the mid-twentieth century helped of course by the X-rays but also by the improvement of electricity and electronics.
Alan Hodgkin and Andrew Huxley are biophysicists and more exactly electrophysiologists. The new technique of the voltage clamp allows them to measure the electric signal across the membrane of a nerve cell.
The sciatic nerve of the frog did not allow measurements in a sufficient accuracy. Working in association with the marine biology laboratory of Plymouth in England, they use in their experiments the largest known axon in the animal reign, measuring 1 mm in diameter, used by the squid to elicit a quick reaction to a threat.
The two researchers can then model the electrical behavior of the neuron. This fruitful advance will have a considerable impact on the knowledge and healing of several nerve diseases and will enable to raise a model of the transmission of nerve inputs to the muscular system. The existence of ion channels in cell membranes will be confirmed by others much later, completing the description of the nervous cell.
Hodgkin and Huxley shared the 1963 Nobel Prize in Physiology or Medicine with John Eccles. The Nobel medal awarded to Hodgkin will be sold with various documents including a copy of the scientific publication associated with the prize as lot 1 in an online timed auction ending on October 29. The minimum bid is $ 450K.
The auction house, Nate D. Sanders, is based in Los Angeles. It is gradually becoming a leader in the growing market for Nobel medals, with successful sales reminded below.
The Nobel Prize in Economic Sciences of Kuznets (1971) was sold for $ 390K on 26 February 2015. The Nobel Prize in Chemistry of Wieland (1927) was sold for $ 395K on 30 April 2015. The Nobel Prize in Physics of Lederman (1988) was sold for $ 765K on 28 May 2015. These prices include the premium.
Alan Hodgkin and Andrew Huxley are biophysicists and more exactly electrophysiologists. The new technique of the voltage clamp allows them to measure the electric signal across the membrane of a nerve cell.
The sciatic nerve of the frog did not allow measurements in a sufficient accuracy. Working in association with the marine biology laboratory of Plymouth in England, they use in their experiments the largest known axon in the animal reign, measuring 1 mm in diameter, used by the squid to elicit a quick reaction to a threat.
The two researchers can then model the electrical behavior of the neuron. This fruitful advance will have a considerable impact on the knowledge and healing of several nerve diseases and will enable to raise a model of the transmission of nerve inputs to the muscular system. The existence of ion channels in cell membranes will be confirmed by others much later, completing the description of the nervous cell.
Hodgkin and Huxley shared the 1963 Nobel Prize in Physiology or Medicine with John Eccles. The Nobel medal awarded to Hodgkin will be sold with various documents including a copy of the scientific publication associated with the prize as lot 1 in an online timed auction ending on October 29. The minimum bid is $ 450K.
The auction house, Nate D. Sanders, is based in Los Angeles. It is gradually becoming a leader in the growing market for Nobel medals, with successful sales reminded below.
The Nobel Prize in Economic Sciences of Kuznets (1971) was sold for $ 390K on 26 February 2015. The Nobel Prize in Chemistry of Wieland (1927) was sold for $ 395K on 30 April 2015. The Nobel Prize in Physics of Lederman (1988) was sold for $ 765K on 28 May 2015. These prices include the premium.
1965 The Great Teacher of Quantum Physics
2018 SOLD for $ 975K including premium
Richard Feynman's thinking was original and effective. Reading a commentary by Dirac about the lack of understanding in the theory of quantum electromagnetism, he decides to always rely only on himself for his research while adding a playful dimension. The title of one of his books of reminiscences, Surely you're joking, Mr Feynman !, is significant.
Feynman's method was to use geometry and diagrams rather than developments in mathematical formulas. Highly motivated to share his knowledge, he was the best professor and lecturer in atomic physics, ensuring that his explanations were always clear.
His contributions in theoretical physics are numerous. He solved Dirac's problem by imagining the quantum mechanism of charged particles in rotation, for which he shared in 1965 the Nobel Prize in Physics with Tomonaga and Schwinger. He also made fundamental advances in the model of the helium superfluidity and in the theory of quarks. He was also a visionary, encouraging as early as 1959 the development of nanotechnologies.
On November 30 in New York, Sotheby's disperses Richard Feynman's research library, including autograph drafts of several lectures. Lot 67 estimated $ 800K consists of his Nobel medal and diploma along with two documents used during the ceremony.
Feynman's method was to use geometry and diagrams rather than developments in mathematical formulas. Highly motivated to share his knowledge, he was the best professor and lecturer in atomic physics, ensuring that his explanations were always clear.
His contributions in theoretical physics are numerous. He solved Dirac's problem by imagining the quantum mechanism of charged particles in rotation, for which he shared in 1965 the Nobel Prize in Physics with Tomonaga and Schwinger. He also made fundamental advances in the model of the helium superfluidity and in the theory of quarks. He was also a visionary, encouraging as early as 1959 the development of nanotechnologies.
On November 30 in New York, Sotheby's disperses Richard Feynman's research library, including autograph drafts of several lectures. Lot 67 estimated $ 800K consists of his Nobel medal and diploma along with two documents used during the ceremony.
1969 Nobel Medal of Murray Gell-Mann
2021 SOLD for $ 625K by Sotheby's
Murray Gell-Mann was a child prodigy, nicknamed the "Walking encyclopaedia" in his youth. He went throughout his career to define and classify the most basic components of the atomic nucleus, at a deeper level than protons and neutrons.
His researches belong to the quantum physics. Beside the gravitation, the electromagnetism and the strong interaction, the most elusive is the weak interaction also known as weak nuclear force, responsible for the radioactive decay of the atoms. Gell-Mann proposed a new excitation quantum, the strangeness, for explaining a discorrelation between mass and decay rate in some radioactive reactions.
The strangeness led to his proposal for a deeper layer system of particles which went to a triumph
in 1964 when the discovery of one of them by a team at Brookhaven confirmed his theory. He was 35 years old. He was then fully legitimized to describe the nucleus as made of quarks, antiquarks and of the agents of the strong interaction, the gluons.
These successful theories dominate the post war physics, in a further step from the Manhattan project. He was the sole recipient of the 1969 Nobel Prize in Physics. His Nobel medal was sold for $ 625K by Sotheby's on April 28, 2021, lot 81.
His researches belong to the quantum physics. Beside the gravitation, the electromagnetism and the strong interaction, the most elusive is the weak interaction also known as weak nuclear force, responsible for the radioactive decay of the atoms. Gell-Mann proposed a new excitation quantum, the strangeness, for explaining a discorrelation between mass and decay rate in some radioactive reactions.
The strangeness led to his proposal for a deeper layer system of particles which went to a triumph
in 1964 when the discovery of one of them by a team at Brookhaven confirmed his theory. He was 35 years old. He was then fully legitimized to describe the nucleus as made of quarks, antiquarks and of the agents of the strong interaction, the gluons.
These successful theories dominate the post war physics, in a further step from the Manhattan project. He was the sole recipient of the 1969 Nobel Prize in Physics. His Nobel medal was sold for $ 625K by Sotheby's on April 28, 2021, lot 81.
1974 The Banquet of the Economists
2019 SOLD for £ 1.15M including premium
In an online auction ending on March 19, Sotheby's sells the Nobel Prize medal and diploma awarded to von Hayek. This set is estimated £ 400K, lot 27. Here is the link to the catalog preview.
The Prize in Economic Science in Memory of Alfred Nobel was created in 1969. This initiative of the Bank of Sweden, imitating the five prizes from Alfred Nobel's will, immediately aroused some reluctance. The Nobel family reminded the opinion of the original sponsor about the incompatibility of society's well-being with any notion of profit.
In 1974 the Prize is awarded jointly to Friedrich von Hayek and Gunnar Myrdal "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena".
By rewarding with the same quotation two thinkers whose institutional proposals were diametrically opposed, the Nobel committee had achieved an indisputable intellectual feat while generating an additional risk on its own credibility.
The neo-liberal von Hayek demanded the State interventions to be minimized. Investments that bring social progress must come from unconstrained individual savings. A redistribution of wealth by the state inevitably brings power to greedy groups that create delusion through their demagogy. Collectivism thus leads to the loss of the individual freedoms.
Von Hayek delivers his speech at the Nobel banquet on December 10, 1974. After a brief acknowledgement, he expresses clearly but courteously that such a Prize should not exist. Rewarding a conceptual work and not a rigorous scientific achievement, it offers a temptation for its own laureates to intervene outside their field of competence.
Von Hayek thus somehow joined the doubts of the Nobel family on the new Prize. In his political conceptions, the economists are the technicians who manage the relations between judiciary and government in a regime where laws must be stabilized for avoiding to slow down the investment initiatives.
In contrast, Myrdal wants the protection of individuals by a welfare state. Later he will also advocate the abolition of the Prize, with the argument that its attribution to von Hayek was encouraging the reactionaries.
A few years later the fall of the Soviet regime will be an illustration of the non-Keynesian model of von Hayek. Liberalism will come back in the Western democracies with Reagan and Thatcher.
The Prize in Economic Science in Memory of Alfred Nobel was created in 1969. This initiative of the Bank of Sweden, imitating the five prizes from Alfred Nobel's will, immediately aroused some reluctance. The Nobel family reminded the opinion of the original sponsor about the incompatibility of society's well-being with any notion of profit.
In 1974 the Prize is awarded jointly to Friedrich von Hayek and Gunnar Myrdal "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena".
By rewarding with the same quotation two thinkers whose institutional proposals were diametrically opposed, the Nobel committee had achieved an indisputable intellectual feat while generating an additional risk on its own credibility.
The neo-liberal von Hayek demanded the State interventions to be minimized. Investments that bring social progress must come from unconstrained individual savings. A redistribution of wealth by the state inevitably brings power to greedy groups that create delusion through their demagogy. Collectivism thus leads to the loss of the individual freedoms.
Von Hayek delivers his speech at the Nobel banquet on December 10, 1974. After a brief acknowledgement, he expresses clearly but courteously that such a Prize should not exist. Rewarding a conceptual work and not a rigorous scientific achievement, it offers a temptation for its own laureates to intervene outside their field of competence.
Von Hayek thus somehow joined the doubts of the Nobel family on the new Prize. In his political conceptions, the economists are the technicians who manage the relations between judiciary and government in a regime where laws must be stabilized for avoiding to slow down the investment initiatives.
In contrast, Myrdal wants the protection of individuals by a welfare state. Later he will also advocate the abolition of the Prize, with the argument that its attribution to von Hayek was encouraging the reactionaries.
A few years later the fall of the Soviet regime will be an illustration of the non-Keynesian model of von Hayek. Liberalism will come back in the Western democracies with Reagan and Thatcher.
1982 Mister Disarmament
2017 SOLD for $ 490K including premium
The Cuban missile crisis reminds throughout the world in 1962 the greatest horrors of the 20th century. Mexico is geographically very close to the epicenter of this showdown between the countries involved in the Cold War. A Mexican diplomat and international law specialist, Alfonso Garcia Robles dedicates the rest of his career to the demise of nuclear weapons. At the UN he will be nicknamed Mr Disarmament.
The work is fast and efficient. Drafted on 14 February 1967 in Mexico City, the Treaty of Tlatelolco is signed in the same year by all countries of Latin America except Cuba, and by Jamaica and Trinidad and Tobago. It is being progressively ratified by 33 countries now including Cuba, including all the major nuclear powers, permanently providing an area of 21 million km2 free from nuclear weapons.
Politically more important than the denuclearization of Antarctica which entered into force in 1961, the Treaty of Tlatelolco inspired the nuclear disarmament of other regions in the world, including the whole of Africa by the Treaty of Pelindaba which came into force in 2009.
In 1982, Garcia Robles received the Nobel Peace Prize for his stubborn work in preparing and promoting the Treaty of Tlatelolco. He shared this award with the Swedish pacifist Alva Myrdal who had been an active delegate during more than 10 years at the UN Conference on Disarmament in Geneva.
The Nobel medal of Alfonso Garcia Robles with its blue morocco case is estimated $ 400K for sale by Christie's in New York on April 28, lot 28.
The work is fast and efficient. Drafted on 14 February 1967 in Mexico City, the Treaty of Tlatelolco is signed in the same year by all countries of Latin America except Cuba, and by Jamaica and Trinidad and Tobago. It is being progressively ratified by 33 countries now including Cuba, including all the major nuclear powers, permanently providing an area of 21 million km2 free from nuclear weapons.
Politically more important than the denuclearization of Antarctica which entered into force in 1961, the Treaty of Tlatelolco inspired the nuclear disarmament of other regions in the world, including the whole of Africa by the Treaty of Pelindaba which came into force in 2009.
In 1982, Garcia Robles received the Nobel Peace Prize for his stubborn work in preparing and promoting the Treaty of Tlatelolco. He shared this award with the Swedish pacifist Alva Myrdal who had been an active delegate during more than 10 years at the UN Conference on Disarmament in Geneva.
The Nobel medal of Alfonso Garcia Robles with its blue morocco case is estimated $ 400K for sale by Christie's in New York on April 28, lot 28.
1993 DNA in Vitro
2016 SOLD for $ 670K including premium
Life exists because the chains of the DNA molecule have the capability to replicate. The discovery of the double helix structure by the team of crystallographers of Crick and Watson in 1953 was followed as early as 1956 by the discovery of the catalyst by a biochemist, Kornberg.
The molecular phenomena are too small to be studied individually but the challenge is immense. Genetic defects or viral attacks would be best countered if their mechanisms were modeled on the scale of the chain sequence.
The early tests for the replication in vitro of complete DNA sequences are discouraging by their processing time and their low yield. Chemists take control in their turn of that problem. In 1982, a publication by Dr. Kary Mullis working for Cetus company provides the solution, identified as PCR (Polymerase Chain Reaction).
Once the chain carrying the property to be analyzed is isolated, it is put in the presence of a nourishing primer and subjected to successive cycles of heating and cooling. The reaction is fast and the population growth is exponential. The invention of Mullis is intuitive. His great merit is to have proved the correctness of his concept by developing the appropriate machine. The impact on genetic engineering is immediate.
Mullis received the 1993 Nobel Prize in Chemistry, shared with the biochemist Michael Smith.
On February 14 in Pasadena, Bonhams sells in one lot the Nobel medal of Dr. Mullis along with his Nobel diploma, a copy of his lecture and several other documents. He is only the third Nobel winner to sell his own medal at auction, and much younger than Watson and Lederman. This set is estimated $ 450K, lot 93.
I invite you to watch the interview of Dr. Mullis by Bonhams before the preparation of the sale.
The molecular phenomena are too small to be studied individually but the challenge is immense. Genetic defects or viral attacks would be best countered if their mechanisms were modeled on the scale of the chain sequence.
The early tests for the replication in vitro of complete DNA sequences are discouraging by their processing time and their low yield. Chemists take control in their turn of that problem. In 1982, a publication by Dr. Kary Mullis working for Cetus company provides the solution, identified as PCR (Polymerase Chain Reaction).
Once the chain carrying the property to be analyzed is isolated, it is put in the presence of a nourishing primer and subjected to successive cycles of heating and cooling. The reaction is fast and the population growth is exponential. The invention of Mullis is intuitive. His great merit is to have proved the correctness of his concept by developing the appropriate machine. The impact on genetic engineering is immediate.
Mullis received the 1993 Nobel Prize in Chemistry, shared with the biochemist Michael Smith.
On February 14 in Pasadena, Bonhams sells in one lot the Nobel medal of Dr. Mullis along with his Nobel diploma, a copy of his lecture and several other documents. He is only the third Nobel winner to sell his own medal at auction, and much younger than Watson and Lederman. This set is estimated $ 450K, lot 93.
I invite you to watch the interview of Dr. Mullis by Bonhams before the preparation of the sale.
1994 The Outcome of the Games
2019 SOLD for $ 735K including premium
The 1994 Nobel Prize in Economic Sciences was awarded to Harsanyi, Nash and Selten "for their pioneering analysis of equilibria in the theory of non-cooperative games". The scientific contribution by Selten had been to define a ultimate equilibrium within Nash theories.
On October 25 in New York, Christie's sells the Nobel medals and diplomas of John Forbes Nash Jr and Reinhard Selten, both accompanied with documents or photos related to their Nobel award. Nash's Nobel set is estimated $ 500K, lot 61, and Selten's is estimated $ 200K, lot 62. Lot 60, estimated $ 3K, is a copy of Nash's 1951 doctoral thesis.
The Nash Nobel had passed at Sotheby's in a single lot auction on October 17, 2016. Please watch the video shared by Sotheby's. I narrated it as follows before that sale :
Knowing the initial state of a situation and the characters in the action, it is tempting to use scientific models to predict the outcome. The pioneers of this game theory were Von Neumann, Zermelo and Morgenstern.
John F. Nash, Jr. is a brilliant mathematician and thinker at Princeton University where he has the opportunity to meet Von Neumann. His first observation is of the highest relevance : no economic theory before him has considered the behavior in bargaining.
His thesis dissertation in 1950 focuses on his own new model within the game theory allowing for a non-cooperative behavior between players and assuming that the conclusion is a state of equilibrium. The undisclosed behavior of a negotiator can be either friendly or hostile. A set of initial conditions can lead to various Nash equilibria and the prediction takes into account a probability factor. Extended to several players, the calculation of a Nash equilibrium reaches an extreme complexity.
Life is not a game. After these exceptional beginnings, Nash becomes schizophrenic. His work is recognized but his person is forgotten. It is to the credit of the Nobel Committee to have retrieved and rewarded him in 1994.
This event is significant. For the first time a Nobel Prize is awarded for contributions to the game theory. Nash, unemployed at the time of his Nobel Prize, is proud that his work is highlighted and starts a new life.
RESULTS including premium :
Nash's Nobel SOLD for $ 735K
Selten's Nobel SOLD for $ 225K
Nash's thesis SOLD for $ 137K
On October 25 in New York, Christie's sells the Nobel medals and diplomas of John Forbes Nash Jr and Reinhard Selten, both accompanied with documents or photos related to their Nobel award. Nash's Nobel set is estimated $ 500K, lot 61, and Selten's is estimated $ 200K, lot 62. Lot 60, estimated $ 3K, is a copy of Nash's 1951 doctoral thesis.
The Nash Nobel had passed at Sotheby's in a single lot auction on October 17, 2016. Please watch the video shared by Sotheby's. I narrated it as follows before that sale :
Knowing the initial state of a situation and the characters in the action, it is tempting to use scientific models to predict the outcome. The pioneers of this game theory were Von Neumann, Zermelo and Morgenstern.
John F. Nash, Jr. is a brilliant mathematician and thinker at Princeton University where he has the opportunity to meet Von Neumann. His first observation is of the highest relevance : no economic theory before him has considered the behavior in bargaining.
His thesis dissertation in 1950 focuses on his own new model within the game theory allowing for a non-cooperative behavior between players and assuming that the conclusion is a state of equilibrium. The undisclosed behavior of a negotiator can be either friendly or hostile. A set of initial conditions can lead to various Nash equilibria and the prediction takes into account a probability factor. Extended to several players, the calculation of a Nash equilibrium reaches an extreme complexity.
Life is not a game. After these exceptional beginnings, Nash becomes schizophrenic. His work is recognized but his person is forgotten. It is to the credit of the Nobel Committee to have retrieved and rewarded him in 1994.
This event is significant. For the first time a Nobel Prize is awarded for contributions to the game theory. Nash, unemployed at the time of his Nobel Prize, is proud that his work is highlighted and starts a new life.
RESULTS including premium :
Nash's Nobel SOLD for $ 735K
Selten's Nobel SOLD for $ 225K
Nash's thesis SOLD for $ 137K
