The final day of Harrisburg’s Wild West Artifacts Auction attracted a large crowd.
More than 10,000 people from around the world bid on items this week.
The profit is helping the city pay back a multimillion dollar loan
These artifacts purchased by former Harrisburg Mayor Stephen Reed were bought for a little over 8 million dollars.
The city’s hoping this week’s profit can pay back a loan that was borrowed in 2006 to suffice for a budget deficit.
But just because the former Mayor cut a big check years ago, doesn’t mean the items are worth the same today.
Right now the collection holds a $500,000 value.
“I don’t think you can look at it in terms of profit and loss as if it was some kind of business investment,” says Harrisburg’s Chief Operating Officer, Bob Philbin.
These wild west artifacts may be selling at a discounted price, but city officials say it’s a win.
Just this week this auction has racked in 2.5 million dollars for the city of Harrisburg.
“Simple math this is huge,” says Philbin.
People from Pennsylvania say they’re getting a chance at a rare opportunity.
“It’s the last day it’s live auction bidding, no internet, less competition,” says Bob Rhaods, from Juniata County.
“Wild Bill” McGinley says he’s saving hundreds of dollars.
“It went at a reasonable rate, normally you would sell this for a hundred dollars and I paid about 12 dollars for it,” says “Wild Bill” McGinley, from Perry County.
Even the city’s Chief Operating Officer is cashing in too.
“An oxen yolk, just for fun? Just for fun, I think I’m going to put it in my office just to have something from the auction,” says Philbin.