Auction Update Review
The Flurry before Summer
Fifteen sales were archived, 7,186
lots offered and 4,243 lots sold.
Auction houses have been selling 70% + this spring so this counts as a
tough week. It’s not unexpected however. The auction market, heading into summer, is
already thinking about fall and beginning to look past the summer doldrums
which may be setting in early. What
with default prospects in Greece back in the headlines and unemployment rates
in the United States back over 9% its easy to imagine that bibliophiles could
be distracted. Total turnover was
substantial - $14 million. Had a higher
percentage of lots sold $17 million could easily have changed hands. It turns out the auctions, even on an off
week, are robust.
Behind the numbers there is
evidence of what many in the trade have been saying for sometime: expensive material is selling and less
expensive material is not. That’s in
line with this week’s results – total sales approaching the aggregate high
estimate of all lots offered while only 59% of all lots sold. The desirable, rare and exceptionally valuable
changed hands while the lesser lights did less well.
No single week provides more than
anecdotal information however. In the
auction field it takes three months to confirm which way the wind is blowing.
Of the 15 sales archived only three
reached or exceeded 100% of their aggregate high estimates.
Bonhams. Books, Maps, Manuscripts and Historical
Photographs on June 7th – 181%,
Sotheby’s. Music and Continental Books and Manuscripts
on June 8th – 120%,
Galerie Bassange. 15th – 19th Century
Prints on May 26th, 100%
These houses are doing consistently
well.
For the week ahead 15 sales are
scheduled:
Monday June 13th Christie’s. Books
Wednesday June 15th Christie’s. Vintage Film Posters
Dominic
Winter. Printed Books and Maps
Thursday June 16th Dominic Winter. Children’s and Illustrated Books
PBA
Galleries. Fine Literature, Illustrated
and Children’s Books
Friday June 17th Kiefer – Buch – und
Kunstauktionen. Books [77a]
Le Libraure Alain
Ferraton. Ancient & Modern Books –
Drawings & Prints – first vacation
Sotheby’s. Fine Books and Manuscripts
The
Romantic Agony. Books
Saturday June 18th Coutau-Begarie. Comics
Kiefer
– Buch – und Kunstauktionen. Books
[77b]
Kiefer
– Buch – und Kunstauktionen. Books
[77c]
Le Libraire Alain
Ferraton. Ancient & Modern Books –
Drawings & Prints – first vacation
The
Romantic Agony. Books
Sunday June 19th Bonhams. Sunset Estates – Books and Manuscripts
Even into the inevitable summer
slowdown the pace of auctions continue to be brisk.
Bruce McKinney
AE
June 12th, 2011