The auction season, entering its final month of 2011, has delivered a series of highly successful results around the world.  With twenty–four auctions reporting this week total sales reached $21.4 million, a nudge above 100% of the high estimate of all lots offered.  This is a rare and important result for, during the year, the percentage of the aggregate high estimates range from 70% to 90% and rarely reach 100%.  It suggests confidence in the rooms.

For the auctions reported this past week 12,279 lots were offered and 9,035 lots sold for a 74% sell-through.  The aggregate low estimate of the lots sold was $12,262,929 million and their aggregate high estimate $15,971,575.  Total sales were $21,386,007, a fraction higher than the aggregate high estimate of all lots offered - $21,341,259.  Europe may be in a funk, what with the Euro-debt crisis, and the United States be in the throes of political reality television but bidders, understanding that they need to bid when material is available are coming through in a significant way.

For the week eleven sales reached or exceeded 100% of their aggregate high estimates:

Rupert Toovey.  Ephemera on November 1^st:  257%

Burgersdijk & Niermans.  Books on November 15^th:  192%

Artcurial Briest-Le Fur-Poulain- F. Tajan.   Comic Strips – Herge’s Universe on November 26^th:  137%

Piasa.  Ancient and Modern Prints on November 23^rd:  123%

Ader.  Books – ancient and modern – Architecture – Manuscripts on November 23^rd:  115%

Sotheby’s.  Music, Books, Children’s and Illustrated Books on November 20^th:  110%

Alde.  Modern Books, Works on Paper on November 28^th:  106%

Ketterer Kunst / F. Doerling.  Rare Books on November 21^st:  104%

Galerie Bassange.  Prints on November 24^th:  102%

Bonhams.  Books, Maps and Manuscripts on November 29^th:  101%

The Romantic Agony Book and Print Auctions.  Books on November 25^th:  100%

For the week ahead 23 sales are scheduled:

December 5^th      Ader.  Posters and Periodicals (11569)

                                    Antiquarian Auctions.co.za.  Books (15)

                                    Cowan’s Auctions, Inc.  The Herbert Merritt Collection of Books on Cincinnati and Southwestern Ohio
(297)

December 6^th             Antiquarian Auctions.co.za.  Books (15)

                                    Artcurial Briest-Le Fur-Poulain-F. Tajan.  Prints and Illustrated Books (2088)

                                    Henri Godts Books & Prints Auctions.  Books from the 16^th to 20^th Centuries (16123)

                                    Piasa.  Manuscripts Second Vacance (120611)

                                    Sotheby’s.  Western and Oriental Manuscripts (L11241)

December 7^th             Antiquarian Auctions.co.za.  Books (15)

                                    Christie’s.  Old Master, Decorative, Modern and Contemporary Prints (3311)
Old World Auctions.  Maps, Atlases, Prints, etc (138)

                                    Piasa.  Succession of Mister X.  (17832)

December 8^th             Ader.  Judaica, Paintings, Sculptures, Liturgical objects, Books (17514)

                                    Alexander Autographs, Inc.  WWII Militaria and Autographs (46)
Antiquarian Auctions.co.za.  Books (15)

                                    Heritage.  Manuscripts Grand Format Auction (6603)

                                    Piasa.  Modern Prints Henri M. Petiet (120811)

                                    Swann Galleries.  Maps & Atlases, Natural History & Historical Prints, Ephemera (2264)

December 9^th             Alexander Autographs, Inc.  WWII Militaria and Autographs (46)        

                                    Dorotheum.  Autographs (12911)

                                    Galerie Koller Auctions.  Modern Prints (A159)

                                    Heritage.  Manuscripts  Grand Format Auction continuing (6603)

December 11th Michael Treloar.  Manuscripts, Books, Photographs and Artwork (121111)

Good hunting!

Bruce McKinney

AE

December 4^th, 2011