Auction Update Review

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The Market Struggles, The Week Ending June 26, 2010

This week a dozen sales were archived. Six were conducted in the United States, another in US Dollars as an internet auction [AntiquarianAuctions.com], four in Europe in Euros, and one in the United Kingdom. It was generally a tough week continuing the noticeable slowing that has been evident since March. Five thousand and eighty-seven lots were offered and 3,352 sold for a 66% success rate. Seen another way, one third of all lots offered failed to sell and will be returning to disappointed consignors soon. No doubt, these consignors were hoping for cash. Taken together, market expectations seem to be falling faster than reserves. To keep the percentage of sales up the quality of the material will have to rise or estimates on lesser material fall. The market is signaling an adjustment.

For the week only one auction, Kapandji Morhange, had total sales that exceeded their total high estimate. They achieved an impressive 168%. Other sales that did well were Christie's who achieved 92% of the aggregate high estimate for their London sale of Vintage Film Posters on the 23rd; Le Libraire Alain Ferraton - 89% for their sale of Books and Prints on the 18th, and Alde 86% for their sale of Livres Prestige the same day. Three other sales failed to reach half of their total high estimate.

All this is not to say that every spark is out. Christie's held a major book sale in New York on the 22nd and realized $3,334,948, an impressive number though only 53% of the aggregate high estimate.

Bruce McKinney

AE

6/27/2010

  • <b>Swann Auction Galleries Dec 10:</b><br>Dr. Seuss, pen, ink & watercolor, calendar illustration, Thomas D. Murphy Company, 1937. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 10:</b> Georges Lepape, <i>Sur la Terrasse,</i> gouache & pencil, cover for <i>Vogue,</i> 1930. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 10:</b> Charles Dana Gibson, <i>The Coming Game, Yale vs. Vassar,</i> pen & ink, for <i>Life</i> magazine, 1895. $2,000 to $3,000.
    <b>Swann Auction Galleries Dec 10:</b><br>H.A. Rey, color pencil, charcoal, watercolor & gouache, for <i>Rafi et les 9 singes,</i> 1939. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 10:</b> Ernest H. Shepard, pen & ink, for Kenneth Grahame’s <i>Bertie’s Escapade,</i> 1949. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 10:</b> Charles Schulz, <i>The Biggest Star Measured So Far,</i> ink & wash, original <i>Peanuts</i> cartoon, published 1961. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 10:</b> Saul Steinberg, <i>12 Biographies, A to B,</i> pen & ink with collage, final illustration in his book <i>The Labyrinth,</i> 1960. $12,000 to $18,000.
    <b>Swann Auction Galleries Dec 10:</b><br>Jo Mielziner, <i>A Streetcar Named Desire,</i> watercolor, graphite & gouache, first color study for the award-winning 1947 production. $7,000 to $10,000.
    <b>Swann Auction Galleries Dec 10:</b> Charles Addams, <i>Nevermore,</i> watercolor & ink, for <i>The New Yorker,</i> 1973. $12,000 to $18,000.
    <b>Swann Auction Galleries Dec 10:</b> James Montgomery Flagg, <i>I Should Worry,</i> watercolor, gouache & graphite, cover for <i>Judge</i> magazine, 1914. $5,000 to $7,500.
    <b>Swann Auction Galleries Dec 10:</b> Edward Gorey, <i>Swan Lake, Hunters/Siegfried, Van Rothbart,</i> watercolor, pen & ink, costume designs, 1975. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 10:</b> Ludwig Bemelmans, <i>Sketch for Madeline,</i> gouache & ink. $6,000 to $9,000.
  • <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b> Fust-Schöffer-Bibel from Gutenberg-Press, 1462. Est: € 1,000,000
    <b>Ketterer Rare Books, November 25:</b><br>J. W. Weinmann, <i>Phytanthoza-Iconographia,</i> 1735-45. Est: € 60,000
    <b>Ketterer Rare Books, November 25:</b><br>O. Kokoschka, <i>Die träumenden Knaben,</i> 1917. Est: € 10,000
    <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b><br>Z. Lilius, <i>Orbis breviarium,</i> 1493. <br>Est: € 10,000
    <b>Ketterer Rare Books, November 25:</b> <i>Gazette du Bon Ton,</i> 1912-22.<br>Est: € 14,000
    <b>Ketterer Rare Books, November 25:</b><br>M. Chagall, <i>Daphnis & Chloé,</i> 1961. Est: € 100,000
    <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b><br>C. Ptolemaeus, <i>Geographie,</i> 1513.<br>Est: € 100,000
    <b>Ketterer Rare Books, November 25:</b><br>E. L. Kirchner, <i>Umbra vitae,</i> 1924.<br>Est: € 6,000
    <b>Ketterer Rare Books, November 25:</b><br>J. Miró, <i>Midi le trèfle blanc,</i> 1968. Est: € 2,000
    <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b> Clemens V., <i>Constitutiones,</i> 1471.<br>Est: € 14,000
    <b>Ketterer Rare Books, November 25:</b><br>C. Gesner, <i>Tierbuch, Vogelbuch, Fischbuch,</i> 1563-81. Est: € 5,000
    <b>Ketterer Rare Books, November 25:</b><br>J. Itten, <i>Utopia,</i> 1921. Est: € 2,000
  • <b>Christie’s London, Nov. 27:</b> [Peter I, Tsar]. <i>Simboly i emblemata ukazom i blagopovedenii imperatora Petra Alekseevicha [Symbola et emblemata jussu atque auspiciis Petri Alexeidis].</i> Amsterdam, 1705. £30,000 to £40,000
    <b>Christie’s London, Nov. 27:</b> Charlemagne, Adolf. Benefice d'Adieu de Madame Naptal. [St Petersburg: 16th February 1873]. £30,000 to £40,000
    <b>Christie’s London, Nov. 27:</b> [Military. Album.] [An album of drawings of weapons and their accessories, drawn from nature by the Second Cadets Corps.] St Petersburg, 1800. £100,000 to £150,000
    <b>Christie’s London, Nov. 27:</b> Pushkin, Alexander. <i>Evgenii Onegin.</i> St Petersburg: Dep. of Public Education, 1825-1832. £100,000 to £150,000
    <b>Christie’s London, Nov. 27:</b> Sumarokov, Pavel. <i>Dosugi krymskogo sud’i ili vtoroe puteshestvie v Tavridu. [The Leisure of a Crimean Judge or a Second Tour to Tauris].</i> St Petersburg: Imperial Press, 1803-5. £50,000 to £80,000
  • <b>Bonhams, Dec. 5:</b> SHAKESPEARE, WILLIAM. <i>Macbeth: A Tragedy.</i> London, 1673. FIRST SEPARATE AND FIRST QUARTO EDITION. THE CHARLTON HESTON COPY. $80,000 to $120,000.
    <b>Bonhams, Dec. 5:</b> HEMINGWAY, ERNEST. <i>In Our Time.</i> Paris, 1924. FIRST EDITION, PRESENTATION COPY. $20,000 to $30,000.
    <b>Bonhams, Dec. 5:</b> HAWTHORNE, NATHANIEL. <i>Fanshawe, A Tale.</i> Boston, 1828. FIRST EDITION OF AUTHOR'S FIRST BOOK. $20,000 to $30,000.
    <b>Bonhams, Dec. 5:</b> THOREAU, HENRY DAVID. <i>Walden; Or, Life in the Woods.</i> Boston, 1854. FINE COPY OF THE FIRST EDITION. $10,000 to $15,000.
    <b>Bonhams, Dec. 5:</b> SHAKESPEARE, WILLIAM. <i>Comedies, Histories, and Tragedies.</i> London, 1685. THE FOURTH FOLIO, Brewster/Bentley issue. $20,000 to $30,000.
    <b>Bonhams, Dec. 5:</b> STEIG, WILLIAM. Original maquette and 58 finished drawings for <i>The Agony in the Kindergarten,</i> one of Steig's most important books. $10,000 to $15,000.
    <b>Bonhams, Dec. 5:</b> VERNE, JULES. <i>A Journey to the Centre of the Earth.</i> New York & London, 1872. FIRST EDITION, RARE AMERICAN ISSUE, with Scribner & Welford cancel title. $5,000 to $8,000.
    <b>Bonhams, Dec. 5:</b> KING, STEPHEN. <i>Carrie.</i> New York, 1974. INSCRIBED FIRST EDITION, OF AUTHOR'S FIRST BOOK. $1,200 to $1,800.
    <b>Bonhams, Dec. 4:</b> APPLE MACINTOSH PROTOTYPE. 1983. The earliest known Macintosh with "Twiggy" drive, one of only two known working machines. $120,000 to $180,000.
    <b>Bonhams, Dec. 4:</b> PLATO. <i>Timaeus</i> [AND] <i>Critias</i> [from Ficini's 1484 Opera]. A LANDMARK OF SCIENTIFIC THOUGHT. $80,000 to $120,000.
    <b>Bonhams, Dec. 4:</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. $15,000 to $20,000.
    <b>Bonhams, Dec. 4:</b> APPLE-1 COMPUTER. Signed by Steve Wozniak, used in development of Apple II. $200,000 to $300,000.
    <b>Bonhams, Dec. 4:</b> DARWIN, CHARLES. 1809-1882. <i>On the Origin of Species By Means of Natural Selection.</i> London, 1859. FIRST EDITION. $80,000 to $120,000.