It has been announced that Tiffany & Co. (NYSE:$TIF) bought the screenplay for “Breakfast at Tiffany’s”, the Audrey Hepburn classic, for roughly $847,000 at Christine’s in London.
According to The New York Times, the “Breakfast at Tiffany’s” screenplay, which includes annotations from Hepburn herself, was forecasted to sell for roughly $77,000 to $110,000.
“Breakfast at Tiffany’s is such a significant work in cinematic history, and we’re proud to have secured this important script for our expansive archives as a way to celebrate Tiffany’s popular culture legacy,” said Caroline Naggiar, Chief Brand Officer.
Instinet analysts forecast the purchase will add roughly 10 basis points of incremental SG&A expenses in Q3. Not to mention brand and marketing value.
In Tuesday trade, shares of Tiffany & Co. are up 0.1%, and almost 20% for 2017 so far.
Featured Image: depositphotos/Krasnevsky
