sells

Nov. 23 (UPI) — A gold pocket watch owned by Isidor Straus, a first-class passenger who died with his wife when the famed ship sank, has sold for $2.3 million at auction.

Straus, a German-born American businessman and politician who co-owned the department store Macy’s, had been offered a seat on a lifeboat because of his age but chose to let others go first as his wife, Ida, stayed arm-in-arm by his side.

The Strauses were depicted in James Cameron‘s fictional retelling of the shipwreck, played by Lew Palter and Elsa Raven.

The 18-carat Jules Jurgensen watch was purchased in 1888 to mark Straus’ 48th birthday, the same year he and his brother became co-owners of Macy’s.

“The watch quite simply represents one of the finest and rarest objects from the Titanic story in existence, a piece which was a treasured personal possession from one of the most respected and high-profile men from the Titanic story,” the Henry Aldridge and Son auction house said in a statement.

“At the turn of the 20th century, a pocket watch was one of the closest things to the heart of a gentleman of the era, and this watch embodies this as a gift from one half of the most famous couple on the Titanic to the other.”

The watch was recovered from Straus’ body after the ship sank and remained in the family for more than a century before its sale Saturday at the auction house, which is located in the British town of Devizes. Ida’s body was never recovered.

The lot had been listed with a high estimate of more than $1.3 million but ultimately sold for nearly double that, becoming the highest price ever paid for Titanic memorabilia, according to the auction house.

While the watch sold at auction, it is currently being exhibited at The Titanic Museum in Pigeon Forge, Tennessee.

Other items auctioned Saturday include a letter written by Ida aboard the Titanic, as well as a passenger list and other memorabilia.

It’s a bird, it’s a plane … it’s a Superman comic beyond most of our price range!

A pristine copy of “Superman” No. 1 sold for $9.12 million at Heritage Auctions on Thursday, making it the most expensive comic book ever sold at auction. The closing price smashed the record previously set by another Superman-related comic, a copy of “Action Comics” No. 1, which sold for $6 million through Heritage Auctions in 2024.

The first issue of “Superman” was among a small trove of comic books found by three brothers in Northern California who were sorting through their late mother’s belongings. The collection had been tucked under a pile of old newspapers and cobwebs in the attic of their family home, according to a press release from Heritage Auctions.

The copy of “Superman” No. 1 was graded 9.0 on a 10-point scale by the Certified Guaranty Company (CGC), a third-party service that authenticates and grades collectibles, including comics, trading cards and video games. It’s the highest-ever graded copy of the 1939 comic book. (That newspapers helped preserve the comic’s condition would make reporters Lois Lane and Clark Kent proud.)

Superman made his comic book debut in 1938 in “Action Comics” No. 1. The anthology comic is often credited as kicking off the superhero genre in comics. The popularity of the Man of Steel — created by writer Jerry Siegel and artist Joe Shuster — led to the launch of his own comic book series in 1939.

In addition to the launch issue of “Superman,” the mother’s comic book collection included issues of “Action Comics” Nos. 9, 12, 15, 18 and 21.

According to Heritage Auctions, this copy of “Superman” No. 1 is one of just seven known copies with a CGC grade of 6.0 or higher. A CGC graded 8.0 copy of “Superman” No. 1 sold for $5.3 million in 2022.

A 1940 self-portrait titled ‘The dream’ by famed Mexican artist Frida Kahlo has sold for $54.7m, making it the most expensive work by a female artist to sell at auction.

A 1940 self-portrait by Frida Kahlo has sold for $54.7m and made auction history at Sotheby’s in New York.

A haunting 1940 self-portrait by famed Mexican artist Frida Kahlo has sold for $54.7m, making it the most expensive work by a female artist to sell at auction.

The painting of Kahlo asleep in a bed, titled El sueno (La cama) – or in English, The Dream (The Bed) – surpassed the record held by Georgia O’Keeffe’s Jimson Weed/White Flower No 1, which sold for $44.4m in 2014.

The sale at Sotheby’s in New York on Thursday evening also topped Kahlo’s own auction record for a work by a Latin American artist.

The 1949 painting, Diego and I, depicting the artist and her husband, muralist Diego Rivera, went for $34.9m in 2021.

Her paintings are reported to have sold privately for even more.

The self-portrait that broke records on Thursday is among the few Kahlo pieces that have remained in private hands outside Mexico, where her body of work has been declared an artistic monument.

Kahlo’s works in both public and private collections within Mexico cannot be sold abroad or destroyed. Because the painting sold on Thursday comes from a private collection, it is legally eligible for international sale. Sotheby’s said the owner who put the painting up for auction – and whose identity has not been disclosed – “astutely” purchased the piece also at auction in New York in 1980.

The buyer’s identity was also not disclosed.

‘El sueño (La cama)’ by Frida Kahlo soars to $54.7 million, becoming the most valuable work by a woman artist ever sold at auction.

Painted in 1940 during a pivotal decade in her career, marked by her turbulent relationship with Diego Rivera. pic.twitter.com/t6Sni7fIKT

— Sotheby’s (@Sothebys) November 21, 2025

Some art historians had scrutinised the sale for cultural reasons, while others had raised concerns that the painting, which was last exhibited publicly in the late 1990s, could again disappear from public view after the auction.

It has already been requested for upcoming exhibitions in cities including New York, London and Brussels.

The piece depicts Kahlo asleep in a wooden, colonial-style bed that floats in the clouds. She is draped in a golden blanket and entangled in crawling vines and leaves. Above the bed lies a skeleton figure wrapped in dynamite.

Kahlo vibrantly and unsparingly depicted herself and events from her life, which was altered by a bus accident at 18.

She started to paint while bedridden, underwent a series of painful surgeries on her damaged spine and pelvis, and then wore casts until her death in 1954 at age 47.

During the years Kahlo was confined to her bed, she came to view painting as a bridge between worlds as she explored her mortality.

“I’m very proud that she’s one of the most valued women, because really, what woman doesn’t identify with Frida, or what person doesn’t?” her great-niece, Mara Romeo Kahlo, told The Associated Press news agency before the auction.

“I think everyone carries a little piece of my aunt in their heart.”

Kahlo resisted being labelled a surrealist painter, a style of art that is dreamlike and centres on a fascination with the unconscious mind.

“I never painted dreams,” she once said. “I painted my own reality.”

The new record for Kahlo’s painting came hours after a Gustav Klimt portrait sold for $236.4m, setting a new record for a modern art piece.

Klimt’s Portrait of Elisabeth Lederer sold after a 20-minute bidding war, also at Sotheby’s in New York, on Tuesday.

Starbucks has announced it will sell the majority stake in its Chinese business for $4bn to a Hong Kong-based private equity firm after years of losing market share to local competitors in China.

Starbucks announced the sale on Monday, which will see the firm Boyu Capital take a 60 percent stake in its Chinese retail operations through a joint venture.

Boyu Capital has offices in Shanghai, Beijing and Singapore, and its cofounders include Alvin Jiang, the grandson of former Chinese President Jiang Zemin, according to the Reuters news agency.

The US coffee giant will retain a 40 percent interest in its China operations while maintaining its ownership of the company’s brand and intellectual property, the company said.

The deal marks a “new chapter” in Starbucks’s 26-year-long history in China, the company said in a statement.

It will also give Starbucks a much-needed injection of funding and logistical support as it tries to expand its business deeper into China, according to Jason Yu, the Shanghai-based managing director of CTR Market Research.

Starbucks has 8,000 locations across China, but it aspires to open as many as 20,000 through its joint venture, the company said in a statement.

“Starbucks used to be a pioneer in coffee in China, where it was probably the first coffee chain in many cities, but this is no longer the case as the local competition already outpaced Starbucks in their expansion,” Yu told Al Jazeera.

Top competitors include homegrown Luckin Coffee, which has more than 26,000 locations worldwide, mostly in China.

Starbucks has historically been concentrated in first- and second-tier cities like Shanghai, Beijing and Shenzhen while Luckin has expanded into much smaller cities.

Luckin has also built a reputation around offering customers much cheaper drinks than Starbucks through its loyalty programme and in-app discounts.

A small Americano coffee at Starbucks costs 30 yuan ($4.21), but at Luckin, the same drink retails on average for about 10 yuan ($1.40), according to Yu.

Olivia Plotnick, founder of the Shanghai-based social marketing company Wai Social, told Al Jazeera that Starbucks has been unable to keep up with competitive pricing and consumer preferences.

“Between domestic players such as Luckin and later Cotti Coffee undercutting Starbucks on price, footprint and flavour fuelled by tech, wider beverage competition from the rise of milk tea brands and delivery platform wars, Starbucks have lost their once very competitive edge,” Plotnick said. By “delivery platform wars”, Plotnick referred to the cutthroat competition between apps for delivery services that drives down prices of goods like coffee.

Starbucks’s joint venture with Boyu Capital will offer the company more capital for investment but also help with logistics, infrastructure and managing commercial property as it opens more storefronts in regional cities, Yu said.

The company is following a familiar playbook used by other international brands in China, he said.

In 2016, after a major food safety scandal, KFC and Pizza Hut owner Yum Brands sold a stake in their China business to the China-based Primavera Capital and an affiliate of the e-commerce giant Alibaba Group, according to Reuters. The China business was later spun off into an independent entity.

In 2017, McDonald’s sold off a majority stake in its China, Hong Kong and Macau businesses to the Chinese state-backed conglomerate CITIC and the private equity group Carlyle Capital although it later bought back some of its business, according to CNBC.

After the deal with CITIC, McDonald’s doubled its outlets in China to 5,500 as of late 2023, CNBC said, and aims to open 10,000 restaurants by 2028.