Auction Update Review

Nopreview

Change in the Air, April 25th, 2010

This past week four sales were archived. Christie's conducted one sale in London and another in Paris. In America Bloomsbury and Swann completed events.

For the past year we have followed the auction market on a weekly basis and employed an approach that was both arbitrary and effective. We have captured the overall sales experience by providing statistics about the lots that sold, the total of their high and low estimates and total sales, along with a list of the ten highest by value lots. We excluded unsold lots and thereby left some readers with the impression that business in the auction rooms was stronger that it actually was.

We have for some time been looking to revise these reports and a recent email about the omission of unsold material is prompting a review. Such information can be prejudicial.

In the attachment with this email are the proposed changes. Auction houses that sell a high percentage of their lots but not the most valuable material would fare less well in this analysis. Houses that sell valuable material more easily than inexpensive would look better. As this analysis shows some houses are doing a better job getting both consignments and realistic estimates. Christie's Travel and Science sale achieved 93% of the high estimate for all lots offered even though they actually sold 77% of the lots. They did comparatively better with the expensive material.

Bloomsbury, by comparison, sold 62% of its lots on April 21st but achieved only 32% of the high estimate. Swann, on the other hand, did almost as well as Christies when, on the 22nd, it achieved 91% of the high estimate for its autographs sale.

Auction charts in the revised format are attached.

There is an ongoing debate about the role of auctions in the sale of material. I personally believe they are market makers rather than agents for sellers. We will see how readers respond to this information and finalize changes in a week or so.


Bruce McKinney
AE
April 25, 2010

  • <b>Swann Auction Galleries: Fall 2017 Auction Schedule</b>
    <b>Swann Auction Galleries Sep 19: 19th & 20th Century Prints & Drawings</b>
    <b>Swann Auction Galleries Sep 28: Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Oct 5: African-American Fine Art</b>
    <b>Swann Auction Galleries: Fall 2017 Auction Schedule</b>
    <b>Swann Auction Galleries Oct 17: Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Oct 19:<br>Art & Storytelling: Photographs & Photobooks</b>
    <b>Swann Auction Galleries Oct 26: Rare & Important Travel Posters</b>
    <b>Swann Auction Galleries: Fall 2017 Auction Schedule</b>
    <b>Swann Auction Galleries Nov 2:<br>Old Master Through Modern Prints</b>
    <b>Swann Auction Galleries Nov 7: Autographs</b>
    <b>Swann Auction Galleries Nov 14: 19th & 20th Century Literature</b>
    <b>Swann Auction Galleries: Fall 2017 Auction Schedule</b>
    <b>Swann Auction Galleries Nov 16: Contemporary Art</b>
    <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 14: Illustration Art</b>
  • <b>Announcing a new Books for Sale platform hosted by Biblio</b>
    <b>List your books simultaneously on Rare Book Hub and Biblio</b>
  • <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Exodus 10:10 to 16:15. Complete Biblical scroll sheet in Hebrew, a Torah scroll panel. Middle East, ca. 10th or 11th century.
    <b>19th Century Shop:</b> Copernicus Refuted. (Astronomy.). Scientific manuscript of a course of studies at Collège de la Trinité, Lyon. 1660s.
    <b>19th Century Shop:</b> Israel’s War of Independence and the Early Days of the IDF. 58 photographs presented to Israel Ber, IDF officer and later convicted spy.
    <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Early Unpublished Darwin letter on the races of man. Autograph Letter Signed [to Henry Denny]. Down, Kent, June 1, [1844].
    <b>19th Century Shop:</b> Classic Image of American Slavery. Kimball, M. H. <i>Emancipated Slaves</i>. New York: George Hanks, 1863.
    <b>19th Century Shop:</b> (Underground Railroad.) Scaggs, Isaac. Important Runaway Slave Poster: $500 Reward Ran away, or decoyed from the subscriber…
  • <b>Bonhams, inviting consignments for Sep 27:</b> Newton. <i>Philosophiae naturalis principia mathematica</i>. London, 1687.
    <b>Bonhams, inviting consignments for Sep 27:</b> Josephus. <i>De antiquitate Judaica.</i> Lubeck, 1475-76.
    <b>Bonhams, inviting consignments for Sep 27:</b> Carlerius. <i>Sporta fragmentorum, Sportula fragmentorum</i>. Brussels, 1478-79.
    <b>Bonhams, inviting consignments for Sep 27:</b> Fridolin. <i>Der Schatzbehalter</i>. Nuremberg, 1491.
    <b>Bonhams, inviting consignments for Sep 27:</b> Pinder. <i>Der beschlossen gart des rosenkrantz marie</i>. Nuremberg, 1505.
    <b>Bonhams, inviting consignments for Sep 27:</b> Isidorus Hispalensis. <i>Synonyma de Homine</i>. Nuremberg, 1470-71.
    <b>Bonhams, inviting consignments for Sep 27:</b> Durer. Sammelband including <i>Underweysung der messing</i>. Nuremberg, 1525-29.