If I thought I had problems at the auction house, this story, on which I have previously commented, has at last had a happy ending. And twenty million quid, although not as stunning as forty three million, is better than a poke in the eye with a short stick.
Meanwhile, in the real world, this is the latest tablescape with the beast:
It was arranged last night and looked rather pleasing this morning, (despite the unwound clock which might tell you otherwise, that it was morning, not the pleasure). Until the next reincarnation, or the next dusting by she who does, after which all placements have to be reinstalled by the curator.
17 comments:
I presume the identity of the first "Chinese billionaire buyer" is known, at least among the auction houses, so that won't happen again.
Well, if not known in wider circles, I imagine in the circles that matter for these things.
Commission? Commission? What's that?!
I wouldn't place too much emphasis on the time shown by the clock - Ramrod, the bull, is no doubt adjusting it overnight to account for jet-lag. Or steam-packet drift. Or train-trudge.
Where do you keep your coffee-mug ring-stains? I can't see a single one, are they all hidden away?
Many years ago I took my mother's very extensive collection of paired duelling pistols to be sold at Sotherby's. When I received their catalogue, it stated 'From the Collection of a Gentleman'... I love Sotherby's!
Owl - I only put them out when we have guests.
Ramrod survived the first dusting episode by she who does. But it's early days, and I imagine one of the horns will get lodged in the wood of the table, to complement the one on the other side, where a swift knock of the bronze dog gauged a delightful hole. I do like pairs of things...
Sotheby's, like all of them, has to justify its high fees. When in doubt, make it up. As long as they got the dates right, a mistake in the provenance is probably covered by their legal agreement with the vendor, (as in they have no liability whatsoever for anything. Ever).
Your mother sounds like a card.
OK, it is stupid question time.
For the vase to go so far over its estimate, there must have been other bidders pushing the price up. Why didn't they just offer it to the next highest bidder?
Or am I missing a scam here?
Actually, it's a very poignant question, and I don't know the answer. Let me see if I can find out, or if somebody reading this knows, maybe they could chip in.
I wondered what had happened with that vase...Hippo poses a good question about the next highest bidder.
When prices run wild there is always a chance that something is wrong. e.g. Moran's last year wasn't paid for a few items that "sold" extremely high.
Last Sunday, the Chinese snuff bottles at Bonham's LA went crazy. Some pairs, with estimates of $700-$900 went for $35,000. All internet and phone bidders. Those of us in the room were left scratching our heads. The buyers have 30 days to pay, so we shall see....we left the auction a bit early to watch Season Three of Downton. Poor Lady Edith.
As you note settlement of auction purchases occurs after the auction, although with a large ticket, such as this one, the auctioneer would want it settled pretty quickly. It is possible that they tried to contact the next highest bidder, but that person, (on hearing that the winner had withdrawn), may have lost confidence, and wondered why. Or the auctioneer may have house rules that only permit the item to be re-auctioned.
My experience with the picture in Germany pales into insignificance.
I had to search your blog to understand the reference to your experience in Germany but understand how peeved you must have been, such a well executed exercise in light.
"It's quite easy to understand why art in German is kunst." Your experience eloquently summed up!
Yes, my experience with Germany has not been a happy one meine herren.
A fascinating story, and I'm enjoying all the commentary. Certainly the proliferation of billionaires worldwide is causing art prices to inflate in a way that's not good for the art world in the long run.
I agree. It is a worrying trend, which may end in tears. Certainly Chinese art has reached dizzying proportions, but there is a lot of money sloshing around and nowhere for it to go.
"there is a lot of money sloshing around and nowhere for it to go"
My restaurant when it opens? I'll put endangered species on the menu and force feed the dogs coffee beans... How long should one hang an elephant by the way?
Just kidding. Honest.
Well I think you have a ready made market. I think they own most of Africa, don't they?
Thank you for updating me on this story. My experience has always been that the best pieces never come to market. Sotheby's et al do increasing a,punts of trade off market.
Post a Comment