Morehouse to own historic King papers

Sotheby's auction called off in favor of Atlanta college's offer

By Errin Haines
Associated Press
Published June 25, 2006

ATLANTA -- Morehouse College President Walter Massey said Friday that Martin Luther King Jr.'s alma mater will receive the more than 10,000 handwritten documents and books from the King estate that have been housed at Sotheby's auction house in New York.

In an effort led by Atlanta Mayor Shirley Franklin, a coalition of businesses, individuals and philanthropic leaders have come together to purchase the King Collection, Massey said in an interview, adding that the college was intimately involved in the negotiations.

The collection, which had been valued by Sotheby's at $15 million to $30 million, had been scheduled to be auctioned off June 30. Massey said the Atlanta group offered more than the estimated value.

"I don't know exact figure, but it's more than $30 million," Massey said. "My understanding is that the auction is off."

This auction is indeed off, Sotheby's Vice Chairman David Redden confirmed. But he said the public exhibition of the King Collection will continue through Thursday.

"I can't imagine a better home than the home of Dr. King for this collection," Redden said.

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