Auction Update Review

Nopreview

Confidence is King, May 9, 2010

This past week fourteen auctions were archived. Together they raised $17,096,369. One event, Sotheby's sale of prints on April 29th brought $7,750,012. This sale came ahead of the unfolding economic crisis in Europe which appears to have weighed on the market this past week.

Of the 14 sales 7 were in dollars, 3 in Pounds and four in Euros.

The overall percentage of lots selling was 72%; in Euros 67%, in Pounds 72%, in dollars 75%.

This past week in AE Monthly we introduced a new measure of auction performance, a comparison of each sale's total proceeds divided by the aggregate high estimate of all items. In isolation the number doesn't mean much. Seen in comparison to concurrent sales and others by the same house it provides useful insight. For auctions archived this past week this number was 78.03%, up from 71.13% this past week. Piasa had the two best results: 115.57% and 109.16%. Sales that achieve less than 100% suggest that estimates exceeded bidder interest.

Frank Benevento of Palm Beach Florida consigned to Sothebys London, in September 2009, his collection of highly valuable and rare maps. They were sold this past week. In the 7 months since consigning, the Pound lost 11% of its value relative to the dollar and financial crisis has ensued. The books, manuscript and ephemera markets have also been soft for some time. The double effect, for his sale, was a smaller than expected turnout and lower than expected winning bids. The auction's hammer plus premium totaled roughly what Mr. Benevento invested in the sold items over the past five years. Net of auction commissions he lost 24% or 341,150 gbp. Sotheby's commissions totaled 291,147 gbp. Mr. Benevento is a gentlemen and calls it "tuition".

For buyers with courage it was a good week to be in the rooms, for sellers difficult.

Bruce McKinney
AE

May 9, 2010

  • <b>Swann Auction Galleries Feb 13:</b> Emil Cardinaux, <i>Winter in der Schweiz,</i> 1921. $12,000 to $18,000.
    <b>Swann Auction Galleries Feb 13:</b> Evelyn Rumsey Carey, <i>Pan American Exposition / Niagara / Buffalo,</i> 1901. $7,000 to $10,000.
    <b>Swann Auction Galleries Feb 13:</b> Arnost Hofbauer, <i>Topicuv Salon,</i> 1898. $5,000 to $7,500.
    <b>Swann Auction Galleries Feb 13:</b> Alphonse Mucha, <i>Job,</i> 1896. $12,000 to $18,000.
    <b>Swann Auction Galleries Feb 13:</b> Georges de Feure, <i>Le Journal des Ventes,</i> 1898. $4,000 to $6,000.
    <b>Swann Auction Galleries Feb 13:</b> Alphonse Mucha, <i>Cycles Perfecta,</i> 1897. $15,000 to $20,000.
    <b>Swann Auction Galleries Feb 13:</b> Edward Penfield, <i>Orient Cycles / Lead the Leaders,</i> circa 1895. $8,000 to $12,000.
    <b>Swann Auction Galleries Feb 13:</b> Adrien Barrère, <i>L’Ideal du Touriste,</i> 1903. $3,000 to $4,000.
    <b>Swann Auction Galleries Feb 13:</b> Willem Frederick Ten Broek, <i>New York / Wereldtentoonselling / Holland – Amerika Lijn,</i> 1938. $6,000 to $9,000.
    <b>Swann Auction Galleries Feb 13:</b> Dwight Clark Shepler, <i>Sun Valley / Union Pacific.</i> $8,000 to $12,000.
    <b>Swann Auction Galleries Feb 13:</b> Sascha Maurer, <i>Flexible Flyer Splitkein / Smuggler’s Notch,</i> circa 1935. $2,000 to $3,000.
    <b>Swann Auction Galleries Feb 13:</b> Louis Bonhajo, <i>Vote / League of Women Voters,</i> 1920. $2,000 to $3,000.
  • <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Abraham Lincoln Endorsement Signed, March 16, 1865. Framed with a lithograph of Lincoln by Dwight C. Sturges.
    <b>One of a Kind Collectibles, Jan. 23:</b> Thomas Edison Stunning Signed Portrait.
    <b>One of a Kind Collectibles, Jan. 23:</b> Franz Liszt Signed Photo.
    <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Subscription for Portraits of the Presidents Signed by J. Q. Adams, Polk, Jackson, Buchanan, and Writers Dickens, Bryant and More!
    <b>One of a Kind Collectibles, Jan. 23:</b> Vinson Supreme Court Signed Presentation Photo.
    <b>One of a Kind Collectibles, Jan. 23:</b> Marilyn Monroe & Joe DiMaggio Collection of Three Financial Items.
    <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Rare Sigmund Freud ALS Related to Sexual Issues.
    <b>One of a Kind Collectibles, Jan. 23:</b> New York Yankees team signed baseball c.1937 including Gehrig, DiMaggio, Dickey, Gomez and others.
    <b>One of a Kind Collectibles, Jan. 23:</b> Salvador Dali Original Drawing in <i>Dali</i> by David Larkin.
    <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Charles Wilson Peale, Association Miniature of Dr. Ebenezer Crosby after Charles Willson Peale. Gouache on ivory miniature attributed to Peale.
    <b>One of a Kind Collectibles, Jan. 23:</b> William McKinley Signed Oversize Photograph Incredible 20"x24".
    <b>One of a Kind Collectibles, Jan. 23:</b> Margaret Mitchell Signed <i>Gone With The Wind</i> -- First Edition.
  • <b>Sotheby’s, Jan. 27:</b> [Paine, Thomas]. Common Sense; Addressed to the Inhabitants of America… Philadelphia: R. Bell, 1776. $200,000 to $250,000.
    <b>Sotheby’s, Jan. 27:</b> Lincoln, Abraham. Autograph letter signed, to Joshua Reed Giddings, 21 May 1860. $80,000 to $120,000.
    <b>Sotheby’s, Jan. 27:</b> Oakley, Annie. <i>A Brief Sketch of Her Career and Notes on Shooting.</i> [N.p.]: ca. 1913, Signed. $2,000 to $3,000.
    <b>Sotheby’s, Jan. 27:</b> Washington, George. One autograph letter signed & 3 letters signed to General Alexander McDougall, September 1777. $70,000 to $100,000.
    <b>Sotheby’s, Jan. 27:</b> Mather, Cotton. <i>The Wonders of the Invisible World. Being an account of the tryals of several witches...</i> London: 1693. $30,000 to $40,000.
    <b>Sotheby’s, Jan. 27:</b> James, Benjamin.<i><br>A Treatise on the Management of the Teeth.</i> Boston, 1814. $2,000 to $3,000.
  • <b>Bonhams:</b> SHAKESPEARE, WILLIAM. <i>Measure for Measure</i> (extracted from the First Folio). London, 1623. Sold for $52,575.
    <b>Bonhams:</b> HAWTHORNE, NATHANIEL. <i>Fanshawe, A Tale.</i> Boston, 1828. FIRST EDITION OF AUTHOR'S FIRST BOOK. Sold for $47,575.
    <b>Bonhams:</b> THOREAU, HENRY DAVID. <i>Walden; Or, Life in the Woods.</i> Boston, 1854. FINE COPY OF THE FIRST EDITION. Sold for $12,575.
    <b>Bonhams: </b> SHAKESPEARE, WILLIAM. <i>Comedies, Histories, and Tragedies.</i> London, 1685. THE FOURTH FOLIO, Brewster/Bentley issue. Sold for $43,825.
    <b>Bonhams:</b> STEIG, WILLIAM. Original maquette and 58 finished drawings for <i>The Agony in the Kindergarten,</i> one of Steig's most important books. Sold for $12,575.
    <b>Bonhams:</b> KING, STEPHEN. <i>Carrie.</i> New York, 1974. INSCRIBED FIRST EDITION, OF AUTHOR'S FIRST BOOK. Sold for $1,912.50.
    <b><center>Bonhams<br>Consignments invited (2020)</b>
    <b>Bonhams:</b> APPLE MACINTOSH PROTOTYPE. 1983. The earliest known Macintosh with "Twiggy" drive, one of only two known working machines. Sold for $150,075.
    <b>Bonhams:</b> LOVELACE, AUGUSTA ADA. Sketch of the Analytical Engine Invented by Charles Babbage Esq. London, 1843. FIRST EDITION, JOURNAL ISSUE, MOST IMPORTANT PAPER IN EARLY DIGITAL COMPUTING. Sold for $15,075.
    <b>Bonhams:</b> APPLE-1 COMPUTER. Signed by Steve Wozniak, used in development of Apple II. Sold for $175,075.
    <b>Bonhams:</b> DARWIN, CHARLES. 1809-1882. <i>On the Origin of Species By Means of Natural Selection.</i> London, 1859. FIRST EDITION. Sold for $131,325.
    <b>Bonhams:</b> BOOLE, GEORGE. <i>An Investigation of the Laws of Thought.</i> London, 1854. Sold for $12,575.
    <b>Bonhams:</b> SHANNON, CLAUDE and WARREN WEAVER. <i>The Mathematical Theory of Communication.</i> Urbana, 1949. Sold for $27,575.