Auction Update Review
Swann, in New York, has recently been on a roll and the evidence suggests it’s going to continue. Christie’s and Sotheby’s decisions to pursue higher value material has opened a solid space in the upper middle for Swann to assert its strength. They are not alone of course. Bonhams has strongly established itself and Heritage is building a position in New York. This coming week they are expected to announce they will be handling an important multi-part sale beginning later this year.
So its not surprising that Swann walked off with the top prize with the only sale reaching the million-dollar level this week. It was a sale of Fine Photographs that saw 74% of the lots sell for 88% of the aggregate high estimate. Their total was $1,000,134.
In Europe Bonhams realized $931,507 on the 22nd for their selection of Books, Maps, Manuscripts and Historical Photographs. Romantic Agony, in two sales on the 18th and 19th realized $424,757 and $773,365. Dorotheum, for two sales on the 14th and 16th, realized $486,165.
There is noticeable interest in selling or consigning. We seem to be in the midst of a shift.