Tiffany & Co. purchased the screenplay for the Audrey Hepburn classic “Breakfast at Tiffany’s” for £632,750, or about $847,000, at Christine’s in London, a record for a film script. The screenplay, which includes annotations from the actress, was expected to sell for £60,000 to £90,000, or about $77,000 to $110,000, according to The New York Times. “Breakfast at Tiffany’s is such a significant work in cinematic history, and we’re proud to have secured this important script for our expansive archives as a way to celebrate Tiffany’s popular culture legacy,” said Chief Brand Officer Caroline Naggiar in a statement. Instinet analysts estimate that the purchase will add up to about 10 basis points of incremental sales, general and administrative (SG&A) expenses in the third quarter, as well as brand and marketing value. Tiffany shares are up 0.1% in Tuesday trading, and nearly 20% for the year so far. The S&P 500 index is up 13.1% for 2017 to date and the Dow Jones Industrial Average is up 14.1% for the period.
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