Design Struggles to Shine

Disappointing 20thC Design Sales Bring in Just Shy of $18 million

All three auction houses held their 20th Century Design sales through the weekend. The results weren’t thrilling but they did validate Murray Moss’s prediction: “Prices continue to rise dramatically for great work, and to fall for what is deemed mediocre,” he said. “In short, the market is becoming more extreme – like the society that supports it.” His comments come from Alice Rawsthorn’s overview of the ‘design-art’ market published two weeks ago in the International Herald Tribune and a touch more recently in the NY Times. (Detailed results after the jump.)

Rawsthorn outlines the usual art world dichotomy between primary dealers and auction houses. But the sales don’t suggest a runaway market . . . yet. Combined there were 648 lots on offer at the three auction houses. 400 of those lots found buyers giving the weekend a 61.7% sell-through rate. The $17,957,750 total was low with Christie’s struggling at the low end with $4.9 million (though a separate sale of 18 decorative bronzes brought in $2.1 million); Phillips at $5.5; and Sotheby’s at $7.4 million. Christie’s had the best sell-through rate at 64% with Phillips trailing at 58% and Sotheby’s in between at 62%.

The real disparity comes when we compare average lot values. Christie’s had an average lot value of $28,262; Phillips de Pury racked up $42,636; and Sotheby’s had $79,551

Premium Price (Lot House ) Name Description Low Est.-High Est.

$932,500 (21S) Tiffany Studios Apple Blossom Table Lamp $250,000-$350,000
$602,500 (70S ) Tiffany Studios Wisteria Table Lamp $500,000-$700,000
$602,500 (150S) Shigeru Ban Artek Pavilion $800,000-$1,200,000
$506,500 (149C) Jean-Michel Frank Wrought-Iron Desk $60,000-$80,000
$386,500 (118C) John Scott Bradstreet Lotus Table $350,000-$550,000
$386,500 (45S) Jan and Joel Martel Locomotive en Marche $100,000-$150,000
$313,000 (145PdP) Marc Newson Desk from Syn Studios $300,000-$400,000
$301,000 (86PdP ) Pierre Jeanneret Library Table $150,000-$180,000
$290,500 (80S) Isamu Noguchi Prismatic Table for Alcoa $100,000-$150,000
$266,500 (96S) Tiffany Studios Dragonfly Table Lamp $200,000-$300,000
$266,500 (19S) George Nakashima Conoid Dining Table $70,000-$90,000