THE RESULTS ARE IN: Sotheby’s and Christie’s Design Sales
16th and 17th March ’10
Sotheby’s and Christie’s Auction Houses
New York City, New York
This week Sotheby’s and Christie’s held their first design sales of 2010 on back-to-back days in New York City. These were not major sales of important design, but they should be seen as a potential preview of the climate for this year’s collecting market.
Overall Christie’s sale brought in a total of $1,244,875, selling roughly 88% of their lots. Sotheby’s sold only 74% of their lots, but they brought in a total of $2,004,126.
The Christie’s sale was heavy in early twentieth century works and many of the top earning lots were Art Deco and turn-of-the-twentieth-century ceramics and glass, such as a Tiffany’s lamp shade circa 1910 that sold for $43,750 (estimate $30,000-$50,000). The mid-century works up for grabs performed strongly though with a Jean Prouve
‘Flavigny’ Bed selling for $25,000, over three times it’s high estimate of $8,000.
The Sotheby’s sale was heavier in works from the second half of the twentieth century than Christie’s, with a strong selection of mid-century works. Unfortunately, the contemporary pieces on offer did not bring in any large numbers, and works like Frank Gehry’s ‘Bubbles’ Chaise Longue brought in less than its pre-sale estimate, selling for only $12,500 (estimate $15,000-$20,000), and his ‘Grandpa Beaver’ Armchair earned it’s low estimate of $5,000.
Interestingly, Sotheby’s top earner of the day was a ‘Conoid’ bench by George Nakashima, circa 1979, which sold for $74,500 (pre-sale estimate $20,000-$30,000). Christie’s also had a ‘Conoid’ bench by Nakashima on offer in their sale, dated 1972, but it only sold for $22,500 (pre-sale estimate $12,000-$18,000). Sotheby’s marketed their ‘Conoid’ bench as the ‘Property of a Midwest Collector’ noting in the catalogue that the client’s name is inscribed on the underside of the bench.
This discrepancy of price and difference in presentation, clearly illustrates the importance of provenance in the collecting design market today.
For more information on these sales please visit www.sothebys.com and www.christies.com
