Christie's, the world's leading auction house, today announced at a hastily arranged New York news conference a new record for a gallon of 1979, light sweet crude.
"Its light fruity taste recalls the era of 'Freeze a Yankee' and Three Mile Island," Jean St. Reynaud, a spokesman for Christie's, told reporters.
The gallon of crude oil sold at auction to an anonymous bidder for $3.79 million.
"As the price of crude oil has exploded," St. Reynaud said, "wealthy collectors around the globe are increasingly interested in gallons of gasoline with historical significance. And it's a practical investment, as a hedge against the further rise of oil prices. You can either lay it down in your cellar, or use it to power your Bentley."
The new record price easily eclipsed the previous highest price ever paid at auction for a gallon of crude oil, $2.67 million for a gallon of East Texas Intermediate, sold to baseball Hall of Famer and renowned crude oil collector Reggie Jackson.
Pressed for details about the buyer of what is currently the world's most expensive gallon of crude, St. Reynaud put a finger to his lips and said, "She is a famous heiress to a leading hotel family. That's all I can say. But when you think about crude, you surely think about her."
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