12th century Processional cross, Ethiopia
Thursday, May 21, 2009
Quick Hits
1. On November 12, 1864 marking the beginning of his second term Abraham Lincoln jotted out his victory speech; and then delivered it from the White House window balcony to the delight of 1500 gathered supporters. 145 years later on February 12, 2009 Christies sold that speech for 3.44 million dollars. President Lincoln had a message for us all today. “Human nature will not change,” he said. “In any future great national trial, compared with the men of this, we shall have as weak, and as strong; as silly and as wise; as bad and good.”
2. The Antiques Roadshow tour starts June 6th in Atlantic City for what will be season 14. Over thirty of the original appraisers are still together from the start of season one in 1996. Many exciting changes have taken place to include the expanded Roadshow website with video on demand of the appraisals and more access to the appraisers. Marsha Bemko’ staff has worked diligently to ensure that each Saturday on the road is a great experience for Roadshow guests. More time has been spent in post production on fact checking with the appraisers. We are all looking forward to the season and some of your appraisers will be “tweeting” from the floor.
3. King Tut just left the Dallas Museum of Art with over 600,000 attendees, not a bad record considering the economic downturn, swine flu, and rising travel costs to dissuade travelers.
4. John Friede’s trouble actually involved two debts – one to Sothebys and one to his brothers. The recent sale at Sothebys of Friede New Guinea objects were to satisfy the former not the latter. The New York Times reported it in the following manner: “Sotheby’s plans to auction 10 works from a tribal art collection assembled by John and Marcia Friede that the de Young Museum in San Francisco expected to own in its entirety. The Friedes promised their 4,000-piece collection to the de Young in a series of agreements completed in 2007. But a battle over the estate of Mr. Friede’s mother, Evelyn A. J. Hall, and a roughly $25 million debt owed by the Friedes to Sotheby’s have threatened to break up the collection. In October a New York State Supreme Court judge ruled that Sotheby’s could take possession of 54 works. Seven will go on the block in Manhattan on May 15, and three others will be auctioned in Paris on June 17. Separately, The San Francisco Chronicle reported that the City of San Francisco will allow 76 works to be sold to pay off part of a debt that Mr. Friede owes.”
2. The Antiques Roadshow tour starts June 6th in Atlantic City for what will be season 14. Over thirty of the original appraisers are still together from the start of season one in 1996. Many exciting changes have taken place to include the expanded Roadshow website with video on demand of the appraisals and more access to the appraisers. Marsha Bemko’ staff has worked diligently to ensure that each Saturday on the road is a great experience for Roadshow guests. More time has been spent in post production on fact checking with the appraisers. We are all looking forward to the season and some of your appraisers will be “tweeting” from the floor.
3. King Tut just left the Dallas Museum of Art with over 600,000 attendees, not a bad record considering the economic downturn, swine flu, and rising travel costs to dissuade travelers.
4. John Friede’s trouble actually involved two debts – one to Sothebys and one to his brothers. The recent sale at Sothebys of Friede New Guinea objects were to satisfy the former not the latter. The New York Times reported it in the following manner: “Sotheby’s plans to auction 10 works from a tribal art collection assembled by John and Marcia Friede that the de Young Museum in San Francisco expected to own in its entirety. The Friedes promised their 4,000-piece collection to the de Young in a series of agreements completed in 2007. But a battle over the estate of Mr. Friede’s mother, Evelyn A. J. Hall, and a roughly $25 million debt owed by the Friedes to Sotheby’s have threatened to break up the collection. In October a New York State Supreme Court judge ruled that Sotheby’s could take possession of 54 works. Seven will go on the block in Manhattan on May 15, and three others will be auctioned in Paris on June 17. Separately, The San Francisco Chronicle reported that the City of San Francisco will allow 76 works to be sold to pay off part of a debt that Mr. Friede owes.”
Wednesday, May 20, 2009
Ooops.. Maybe We Don't Want It Back.....
On Antiques Roadshow we all wait for that great story we can tell about an object that has been undiscovered or lost from view. A bust of Queen Nefertiti, believed to be over 3400 years old had been on view at Berlin's Altes Museum. It was at the center of a big dispute with the Egyptian government who wanted this pristine complete bust returned as an important part of their cultural pa
trimony. Unfortunately, there was some very critical information that was missed by the very prestigious and highly acclaimed Egyptian scholars. The piece was commissioned by Germany archaeologist Ludwig Borchardt in 1912 at the site of the dig. When a German prince admired the work when he was visiting the site the same year Borchardt did not wish to embarrass the man and gave him the bust. The prince proudly displayed Nefertiti in his study for ten years until 1923 when it went on public display at the museum. That also marked the beginning of the dispute with Egypt. Swiss art historian Henri Stierlin is a noted scholar in this area and has just completed a book outlining the story and the results of his research. Stierlin noted some critical differences in the carving of the figure and in the timeline of its "discovery". It was significant that none of the French archaeologists on site even mentioned what would have been an extremely important find. It will remain in Germany where undoubtedly the story will attract more visitors than maybe even the real thing might have.
On Antiques Roadshow we all wait for that great story we can tell about an object that has been undiscovered or lost from view. A bust of Queen Nefertiti, believed to be over 3400 years old had been on view at Berlin's Altes Museum. It was at the center of a big dispute with the Egyptian government who wanted this pristine complete bust returned as an important part of their cultural pa
trimony. Unfortunately, there was some very critical information that was missed by the very prestigious and highly acclaimed Egyptian scholars. The piece was commissioned by Germany archaeologist Ludwig Borchardt in 1912 at the site of the dig. When a German prince admired the work when he was visiting the site the same year Borchardt did not wish to embarrass the man and gave him the bust. The prince proudly displayed Nefertiti in his study for ten years until 1923 when it went on public display at the museum. That also marked the beginning of the dispute with Egypt. Swiss art historian Henri Stierlin is a noted scholar in this area and has just completed a book outlining the story and the results of his research. Stierlin noted some critical differences in the carving of the figure and in the timeline of its "discovery". It was significant that none of the French archaeologists on site even mentioned what would have been an extremely important find. It will remain in Germany where undoubtedly the story will attract more visitors than maybe even the real thing might have.
Wednesday, May 13, 2009
The Art Market - What the heck is Going on Today
We had such a strong response from our last newsletter on what was happening in the art market we have continued the thread in this issue. And it has been crazy market...
The Kimbell Museum with its reported 350 million dollar endowment has just purchased only one of four paintings attributed to Michelangelo (1475-1564). The 18 ½ -by-13 1/4 painting, The Torment of Saint Anthony, is oil-and-tempera on poplar panel and is thought to have been painted w
hen the master was only 12 to 13 years old. The purchase price has not been disclosed but the estimates range from 25 to 69 million, the latter being the price paid at Sothebys in 2002 for a Ruebens. It is interesting to note in this economic climate that the Met had first refusal but had to pass because of current financial concerns. A New York dealer bought the piece with investors last summer in London for 2 million dollars. The painting will be shown at the Met this summer and then will be placed on view at the Kimbell in the fall.
hen the master was only 12 to 13 years old. The purchase price has not been disclosed but the estimates range from 25 to 69 million, the latter being the price paid at Sothebys in 2002 for a Ruebens. It is interesting to note in this economic climate that the Met had first refusal but had to pass because of current financial concerns. A New York dealer bought the piece with investors last summer in London for 2 million dollars. The painting will be shown at the Met this summer and then will be placed on view at the Kimbell in the fall.On May 15th the Chaim Gross collection of African and Oceanic was offered at Sot
hebys in New York. Of the 81 lots 16 failed to sell. For many Chaim Gross, having begun to collect in the early 1930's, was the last of , as Sothebys noted, "the first generation" of African collectors. A noted American sculptor, Chaim was aided in his collecting by Frank Crowninshield, the editor of Vanity Fair magazine in New York. Some might say that this was a sale with aesthetics versus pedigree with the later prevailing. Critics looked at this sale as being uneven and hyped beyond what the art itself justified. Certainly this negative assessment is somewhat tempered by the superb kneeling Senufo figure selling for $758,500 and the Mbaka figure on the cover sailing over the pre-sale estimate of $600,000 and ending up at $1,258,500. For me the sleeper in the sale was the Yaka mask pictured in Lot 56 and estimated between $6,000 and $9,000. Apparently some buyers agreed driving the price to $22,500. Considering the power, obvious age, and pedigree, i think it is worth more. But in the end it was a good morning for Sothebys grossing almost 5 million dollars.Sothebys afternoon sale on May 15th also had some fine African, Oceanic, and Pre-Columbian art. Of the 94 lots offered 31 failed to sell. The auction house was, however, I am certain delighted that the sale grossed $5,693,813 with the buyers premium. Quite apparently,
at least in this sale, it sems the 6 1/2" x 6 1/2" format did not deter buyers. Some might suggest the high buy in rate might indicate otherwise; however, the final tally is truly the bottom line. Collectors of West Mexico will certainly be delighted with the Nayarit pair that brought $314,500, which may be a new record for this area. I coveted from afar the great Papuan Gulf figure(Lot 146) that apparently impressed a few others as well as it sold for $1,202,500. Some among the buyers knew the Tsonga/Nguni snuff container was once owned by Ray Wielgus and ignored the estimate of $6,000 to $9,000 chasing it to $43,750.
at least in this sale, it sems the 6 1/2" x 6 1/2" format did not deter buyers. Some might suggest the high buy in rate might indicate otherwise; however, the final tally is truly the bottom line. Collectors of West Mexico will certainly be delighted with the Nayarit pair that brought $314,500, which may be a new record for this area. I coveted from afar the great Papuan Gulf figure(Lot 146) that apparently impressed a few others as well as it sold for $1,202,500. Some among the buyers knew the Tsonga/Nguni snuff container was once owned by Ray Wielgus and ignored the estimate of $6,000 to $9,000 chasing it to $43,750. In the May 20th American Indian sale of 226 lots 85 failed to sell, a high buy in rate of 38%. There were some stellar pieces that did quite well The pair of Cheyenne parfleches featured in Gaylord Torrence "bibl
e" on the topic did very well bringing in $116,500. Morton and Estelle Sosland's Kwakiutl sun mask exceeded the high estimate and sold for $266,500. The Barry Goldwater pony beaded blanket strip he donated to the Smoki Museum in Prescott failed to sell at the low estimate of $100,000. Some experts felt the early date of 1830's being tossed around was a bit early for this piece. Sothebys claimed that only four are known, so it will be interesting to see where this piece will finally end up. The Dat so la lee basket (ht. 6 1/4") was estimated to sell between $175,000 and $225,000 but also failed to meet the reserve. Some might attribute this failure to the limited number of buyers at this level, the size of the basket, the sluggish economy, and probably all the above. The total sales with commissions realized $2,681,694. Not bad even with the high buy in. These sales were significant in that they did offer some encouragement that all is not doom and gloom in the tribal art world. Certainly one might argue that the reserves in Sothebys Indian sale were not realistic and had they been a bit lower the buy in rate would also have dropped. The June sales in Europe are equally important in assessing the health of the market. Critical to the success of these auctions will be strong American participation. Without it I doubt whether the economic malaise Europe is experiencing will motivate many buyers to buy. The great material will always sell. Look instead to the $5,000 to $50,000 price range to see which way the trends are pointing.
Tuesday, May 12, 2009
IFAR - What can you own, buy, or sell legally
The International Foundation for Art Research (IFAR) has stepped up in a way that should make a major contribution in helping collectors, curators, dealers, appraisers, museum directors, and the media know what can be bought, sold, or owned within the boundaries of over 100 different countries. IFAR has done a great job so far and vows to constantly update the data they have on their website which is viewable at www.ifar.org/art_law.php. In the past it was very difficult to sort through the various U.S. government websites that listed import bans, bilateral treaties, and penalties. Some other sites that provided information have been so political that it has become difficult to sort out exactly what the rules are in black and white. IFAR does not pontificate in offering the relevant legislation from country to country. It is also interesting that they have provided some case history reflecting enforcement of the laws.Politics will always impact the legislation of cultural property and there will be swings in enforcement with each new administration in each country. Having said this it is clear that the trend is definitely moving away from an open market and towards more restriction. In this environment if you choose to be a participant you better be aware of the rules. My advice is to log on often to IFAR.org to stay current.
IFAR also offers an authentication service, which is something as a professional I have never been very enthusiastic in exploring. As a non profit, it would be impossible for them to have in-house experts in all the fields that they service. That to me means that at least some outsourcing must be contracted to meet the obligations and demands of their clientele. With the internet it is easier now and probably cheaper to find and check out your own experts. Admittedly, I have not evaluated IFAR's price structure in this area. It would, therefore, be prudent to evaluate and compare all your resources before proceeding.
Usually requests for authentication or consulting services are made after the fact when the object has already been purchased and a problem has occurred. Maybe IFAR.s website will motivate people to do their homework before the problem occurs saving money and aggravation for all. Regardless IFAR should get kudos for this free resource.
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