The Arader auction of maps, rare books and natural history engravings, watercolors and color plate books at Guernsey’s on December 5th has come and gone and the sale, much discussed ahead, is now the sale much dissected. It was both a flagship success and a serious failure depending on your perspective. It was a success because it raised two million dollars. It was a failure because the total low estimate of all lots was $12 million. It was arguably three sales and two events [morning and afternoon sessions], divided 46%/54% between unreserved and reserved lots. One hundred and thirty-three lots sold, 108 with estimates of $10,000 and less, 25 of the remaining 161 lots with estimates over $10,000.
The sale was conducted by Guernsey’s on behalf of and on the premises of Arader Galleries at their 1016 Madison Avenue New York location.
The 294 lots were divided in 5 categories –
Audubon Plates and Books. 82 lots offered and 70 sold
Natural History. 68 lots offered and 21 sold
Maps, Globes and Atlases. 52 lots offered and 13 sold
New York Views and Maps. 60 lots offered and 20 lots sold
American and European Oil Paintings. 32 lots offered and 9 sold
In the weekly auction report issued by AE on – for the week ending December 8th this sale ranked 3rd by dollar volume among the 38 sales archived - $2,258,342. By another measure however it was disappointing. The total of the low estimates of all 294 lots was $12,803,000, the sale as a percentage of the total high estimate, a number we track across all completed sales every week, 17.6%, an extremely low percentage. Auctions routinely sell 70% to 75%.
In some respects the sale was unique. It was essentially a store sale conducted as an auction. To do this a catalogue under the auspices of Guernsey’s was issued. In it the Arader Gallery identified material and provided estimates that, for most lots with high estimates greater than $10,000, turned out to be more than bidders were prepared to pay.
ALDE, Apr. 8: GUEVARA (ANTONIO DE). Histoire de Marc-Aurèle, Empereur Romain, vray miroir et horloge des Princes. Paris, Pierre et Galliot du Pré, frères, 1565. €3,000 to €4,000.
ALDE, Apr. 8: HEURES DE LA VIERGE. Horæ in laudem beatissimæ virginis Mariæ ad usum Romanum. Paris, Charles L'Angelier, 1556. €4,000 to €5,000.
ALDE, Apr. 8: MONTAIGNE (MICHEL DE). Les Essais. Édition nouvelle, trouvée après le deceds de l'autheur… Paris, Abel L'Angelier, 1595. €6,000 to €8,000.
ALDE, Apr. 8: [ROJAS (FERNANDO DE)]. Celestina, tragicomedia di Calisto et Melibea, tradotta de lingua castigliana in italiano idioma… Venise, 1531. €2,000 to €3,000.
ALDE, Apr. 8: CAMÕES (LUÍS DE). Os Lusiadas. Lisbonne, Pedro Crasbeeck, 1613. €2,000 to €3,000.
ALDE, Apr. 8: CERVANTES (MIGUEL DE). El Ingenioso hidalgo Don Quixote de la Mancha. Bruxelles, Roger Velpius & Huberto Antonio, 1611. €6,000 to €8,000.
ALDE, Apr. 8: LA FONTAINE (JEAN DE). Fables choisies, mises en vers. Paris, Denys Thierry et Claude Barbin, 1678-1694. €6,000 to €8,000.
ALDE, Apr. 8: CERVANTES (MIGUEL DE). El Ingenioso hidalgo Don Quixote de la Mancha. Madrid, Joaquin Ibarra, 1780. €3,000 to €4,000.
ALDE, Apr. 8: DIDEROT (DENIS) ET JEAN LE ROND D'ALEMBERT. Encyclopédie, ou dictionnaire raisonné des sciences, des arts et des métiers. Paris, 1751-1765. €15,000 to €20,000.
ALDE, Apr. 8: [LIVRE TISSÉ]. LAMARTINE (Alphonse de). Les Laboureurs. Poème tiré de Jocelyn… Lyon, J. A. Henry, 1883. €8,000 to €10,000.
ALDE, Apr. 8: [LIVRE TISSÉ]. Livre de prières tissé d'après les enluminures des manuscrits du XIVe au XVIe siècle. Lyon, [A. Roux], 1886. €5,000 to €6,000.
Sotheby’s Books, Manuscripts & Objects from Three Important Collections Open for Bidding 2-17 April
Sotheby’s, Apr. 2-17: [Guillaume de Lorris and Jean de Meun]. Le Roman de la Rose, [Geneva or Lyons, c.1481], first printed edition of the most important medieval French vernacular poem. £200,000 to £300,000.
Sotheby’s, Apr. 2-17: Castiglione. Il libro del cortegiano. [Venice], April 1528, first edition, in a magnificent binding by Jean Picard for Jean Grolier. £100,000 to £150,000.
Sotheby’s, Apr. 2-17: Jacobus de Cessolis. Schachzabelbuch, Strasbourg, 1483, von der Lasa copy. £50,000 to £70,000.
Sotheby’s, Apr. 2-17: World Championship, 1972. A collection of 84 press photographs of the famed match between Spassky and Fischer. £2,000 to £3,000.
Sotheby’s, Apr. 2-17: Ben Franklin. Autograph letter signed, to Lord Shelburne, British Prime Minister, during peace negotiations, November 1782. £15,000 to £20,000.
