Inside the Booming Business of Punk Rock's Past

In November 2008, the New York branch of Christie’s held an auction devoted to punk—a first for the centuries-old purveyor of rare art and relics. The collection featured gems like a copy of the earliest Sex Pistols’ press release and the poster for a landmark Ramones concert. “Ten years ago, punk memorabilia probably wouldn’t be something we’d be auctioning here,” Christie’s head of pop culture said at the time. “But now, people of a certain age have a certain ability to splurge on this material.”