Auction Update Review
If this is the quiet time ...
For the week ending July 14th
9 recently completed auctions were archived in the AED; 1 in euros, 3 in
dollars and 5 in British pounds. Eleven
million dollars [$11,121,953] changed hands as 1,463 lots, against 1,882
offered, sold. The action was in England
with 5 sales realizing $10,222,475.
It was an odd week. The percentage of lots sold was above average at 78% but total receipts, as a percentage of
the high estimates, a bit light coming in at 75%. Such variation from week to week tends to
signify little unless underperformance becomes part of a larger pattern
confirmed over months and quarters. What
is apparent is that the increasing number of auction events is causing houses to more often choose summer dates. This month there are 49 events and in August
22 more. These were prime season numbers a few years ago. We are living in a different
world.
Two sales reached 100% of the total
of their high estimates:
Ader. Letters, Manuscripts, Autographs on June 28th: 182%
Cowan’s. Prints on July 11th: 105%
Three sales reached a million
dollars:
Sotheby’s. The History of Script: sixty important manuscript leaves from the
Schoyen Collection on July 10th:
$4,032,941
Sotheby’s. Western Manuscripts and Miniatures on July 10th: $1,966,063
Bonhams. Prints on July 11th: $1,658,787
Four sales saw more than 80% of
their lots sell:
Heritage Auctions. Rare book online ending July 12th: 93%
Cowan’s. Prints ending July 11th: 88%
Neal Auction Company. Prints ending June 30th: 82%
Ader. Letters, Manuscripts, Autographs on June 28th: 81%
For the week ahead 9 sales are
scheduled:
Tuesday July 17th Freemans.
Books [1435a]. 90 lots
Wed. July 18th Dominic Winter. Old Master and Modern Prints [S330]. 156 lots
Freemans. Prints [1435b]. 8 lots
Thursday July 19th Bloomsbury Auctions. Antiquarian Books [35940]. 578 lots
Eldred’s. Maine Art Part I [751]. 172 lots
Heritage
Auctions. Rare Books online bidding
ending July 19th. 404 lots
PBA
Galleries. Fine Americana – Travel –
Cartography [484]. 411 lots
Friday July 20th Eldred’s. Marine Art, Part II [751b]. 18 lots
Sunday July 22nd Bonhams. Asian Works of Art [20032]. 118 lots
If this is the slow season we will
be harried come fall.
Bruce McKinney
AE
July 15th, 2012