Auction Update Review
For the first week of the fall season five sales were archived. Bloomsbury held two sales in London; Books, Original Artwork, Photographs and Modern Prints on September 3rd and a Bibliophile Sale on the 10th. Braun Rasmussen conducted a Books and Maps Sale on the 6th, and Christie's a Travel and Vintage Posters event on the 9th. PBA offered Fine Americana with Travel and Voyages on the 3rd. In America the week was holiday-shortened. A total of 2,044 lots were offered and 1,681 sold for an 83.6% success rate.
In dollars, the aggregate low estimate was US$883,592, the high estimate US$1,289,468. The total realization was US$1,417,650. The average lot sold for $1,013 but is misleading. Christie's Travel and Vintage Posters averaged $3,356 per lot, the other four sales $398. Images and frame-able material continue to have an edge in the marketplace.
PBA's sell-through percentage inched up to 62%. They are a bell-weather for the US market because they offer frequent sales through good markets and bad in a wide variety of materials. Consignor reluctance to reduce estimates seems to be giving way even as the market stabilizes. As the auction market gains footing more expensive material will return to the rooms.
Fresh charts were posted on September 5th on the Upcoming Auctions page under the link: Auction Trend Charts.
September 13, 2009