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Hedge Funds to Buy Sunken Titanic Relics for $19.5 Million

(Bloomberg) A company that owns 5,500 relics from the sunken luxury liner R.M.S. Titanic will sell the collection to a group of hedge funds for $19.5 million after an auction for the artifacts was canceled. The offer from the group of investment funds, led by Premier Exhibitions Inc. Chief Executive Officer and Director Daoping Bao, was the only one for the collection, according to court filings. Premier currently owns the items acquired from survivors or salvaged from the ship, which sank in 1912. Bao is the company’s largest shareholder.

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