Auction #4: LA Modern
Monday, June 08, 2009
The results are in, and I called this one wrong, too. You know how I said the first sale of the auction generally sets the tone for the whole thing? In this sale, my Kagan chair -- estimated at $5,000-$7,000 -- sold for about 30% below the low estimate, at $3,600 (which, to be fair, is significantly more than I paid for it originally). That proved to be the overwhelmingly predominant theme behind this sale: nearly everything sold and had multiple bidders, but at prices with few exceptions (I'd say 90% fall into this category) 30%-40% below the low estimates. Thankfully two of the exceptions were the two priciest pieces I had on the block, both of which sold for their high estimates, so on the whole I personally did quite well.
Still, there were some definite bargains to be had. Mid-century doesn't sell particularly well on the West Coast -- which has "moved on," at least in interior design circles, to '60s/'70s/Hollywood Regency -- so this Knoll credenza would've likely fetched double the price at Wright, where mid-century still has a large audience. Someone got a damn good deal on these Calatrava chairs, which rarely show up at auction. Someone also got a steal on these Kjaerholm chairs, which sell new for $4,500 each. A Falkenstein sculpture selling for barely 1/3rd the low estimate is simply an embarrassment ... though there were plenty of worse ones, including this, this, this, this and most of all this & this & this (textbook cases for insisting on reserve prices). A Nelson tray table was the solitary bidding-war inciter yesterday, in an auction with 550+ lots. Not good. These Rodrigues chairs -- which I've never liked, personally -- were routinely selling in the $10,000 vicinity only a couple of years ago. Lord, even Warhol flopped!
Still, the auction wasn't a total flop. The sole Prouve lot on the block went for well above the high estimate. Kuramata remains as popular as ever. Both Giacometti chandeliers on the block sold within estimate range, albeit near the low end. Most of the Walter Lamb lots sold within estimate range, and one lot did especially well.
Oh, and I left out one auction on my earlier list: Bonhams on Thursday.
Still, there were some definite bargains to be had. Mid-century doesn't sell particularly well on the West Coast -- which has "moved on," at least in interior design circles, to '60s/'70s/Hollywood Regency -- so this Knoll credenza would've likely fetched double the price at Wright, where mid-century still has a large audience. Someone got a damn good deal on these Calatrava chairs, which rarely show up at auction. Someone also got a steal on these Kjaerholm chairs, which sell new for $4,500 each. A Falkenstein sculpture selling for barely 1/3rd the low estimate is simply an embarrassment ... though there were plenty of worse ones, including this, this, this, this and most of all this & this & this (textbook cases for insisting on reserve prices). A Nelson tray table was the solitary bidding-war inciter yesterday, in an auction with 550+ lots. Not good. These Rodrigues chairs -- which I've never liked, personally -- were routinely selling in the $10,000 vicinity only a couple of years ago. Lord, even Warhol flopped!
Still, the auction wasn't a total flop. The sole Prouve lot on the block went for well above the high estimate. Kuramata remains as popular as ever. Both Giacometti chandeliers on the block sold within estimate range, albeit near the low end. Most of the Walter Lamb lots sold within estimate range, and one lot did especially well.
Oh, and I left out one auction on my earlier list: Bonhams on Thursday.