The Results Are In: Phillips de Pury Design Auction

1st May '09

There were likely many collectors paying close attention to the results of the April 30th design auction at Phillips de Pury & Company in London.

Clearly, the darlings of the auction block are still strong and the sale of one of Marc Newson's iconic Lockheed Lounge chairs for £950,000 (well above its pre-auction estimate) is sure to grab most headlines. But the real story here is that although the market for quality design pieces may have softened slightly, it remains relatively strong with many pieces selling either within or just below their pre-auction estimates. While lots by design giants like the Eameses and Mies van der Rohe went unsold, other mid to late century pieces by lesser-known designers had a very good showing.

Contemporary designs had an equally mixed reception with lots by Ron Arad showing stable numbers, a burnt Maarten Baas *Smoke* table selling above its high estimate, and one of Zaha Hadid's *Aqua *tables selling for over 40% under its low estimate.

It seems that collectors may be retreating into more affordable period pieces that have established their pedigree and are less cavalier about investing large sums in modern pieces, unless their place in design history is more secure. In any case, it seems that inflated valuations in the design market seem to be settling at a more realistic, and stable, level.

To view detailed results of DeTnk's pic of the auctions visit our Collecting Design Marketplace