Thursday, February 4, 2010

London Auction Results

I went back to the web sites to check the results from the various auction previews we went to while in London earlier this week.

For the Christie's and Sotheby's auctions, the New York Times reported on the news worthy items. These auction results are viewed as one economic bellweather (maybe not one that means much to most of us). There were some record breakers at both sales, with a number of items going for well beyond the estimates. The Giacometti sculpture at Sotheby's went for the highest price ever at auction (including the buyers premium). A Picasso at Christie's went for double the estimate. Both have been in private collections for decades. I am glad we went to see them. The Klimt at Sotheby's went for well beyond the high estimate and sold for £26+million.

Back down to earth, I checked the Bonham's results for the paintings without reserve. I had not realized that a lot of the paintings were by a known British artist, Percy Horton (1897-1970). He is represented in a number of British museums, including the Tate. A quick Google search found a number of results on him. 


This Percy Horton sold at Bonhams £72/$115 (inclusive of buyers premium)

I found his paintings quite decorative. You could have picked one up for somewhere between £48 - £144 ($77 - $230). Just think of 3 or 4 on a wall and you have an artist who is in several museums! They might even have fit in my suitcase!

At Lots Road, the chandelier I liked went for £220 (not including buyers premium of 20% - $352). 


Chandelier sold at Lots Road Auctions for £220 ($352)

The problem if you live in the US is you'd have to ship it, which would have cost well beyond the purchase price. You'd have to know what something comparable cost in the US and add up on the costs. 

This coming week will be fun in New York at more auctions!

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