ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, May 14, 1996 TAG: 9605140046
SECTION: NATIONAL/INTERNATIONAL PAGE: A-1 EDITION: METRO
DATELINE: WASHINGTON
SOURCE: The Washington Post
NOTE: Below
``Thank you Camelot,'' says Senate Budget Committee Chairman Sen. Pete Domenici, R-N.M., in his weekly Budget Bulletin newsletter.
Domenici figures Uncle Sam raked in more than $20 million in taxes and was the biggest single winner in the extraordinary garage sale from the estate of former first lady Jacqueline Kennedy Onassis.
Meanwhile, some of the buyers at the Jackie Kennedy Onassis auction are having second thoughts about the loopy prices paid for a brush with greatness, according to The Associated Press.
Two or three people who bought items at last month's sale have asked Sotheby's if it could find other buyers, said Matthew Weigman, Sotheby's spokesman.
``It was no problem,'' he said Monday. ``There were so many people who were disappointed they didn't get something that finding other buyers was not difficult.''
Sotheby's would not identify the people or the items they bought, but Weigman did say the items were resold for the same prices the original buyers paid. Sotheby's has a policy against returns, but the exceptions were allowed because second buyers were found.
The four-day auction made a total of $34.5 million, well over Sotheby's pre-auction estimate of $4.6 million.
AUCTION PIE
Everyone's cut of the Jackie auction, based on the first $30 million in sales, according to Sen. Pete Domenici, R-N.M.
* Sotheby's 10 percent commission$3 million
* Corporate income tax on Sotheby's$1 million
* Net commissions to Sotheby's$2 million
* Proceeds to Kennedy estate$27 million
* Federal income tax on estate$10.7 million
* Gross to Kennedy children$16.3 million
* Federal inheritance tax$8.6 million
* Net to Kennedy's children$7.7 million
* Total increase in federal revenues$20.3 million.
LENGTH: Short : 50 linesby CNB