Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

British Gold, French Silver

November 9, 2009 by Marion Maneker

The recent discovery of a huge gold hoard in the English countryside was not as rare as we might imagine. Georgina Adam reminds us in this weekend’s Financial Times that a large cache of silver was unearthed in France in 2006. It just sold to the French government in the nick of time:

In a last-minute rescue, the French State has paid €1.4m for the Trésor de la Meuse, a stunning cache of French Renaissance silver which was due to be sold at Sotheby’s Paris next Monday.

The 15th- and 16th-century parcel-gilt silver treasure – a ewer, spoons, cups, beakers and two salts – was dug up in 2006 in the Lorraine countryside. The finder took them to his local museum and negotiations for sale started with the French state. But when the talks dragged on, the finder decided to sell at auction, with an “on request” estimate of about €1m. As France promptly classified the cache as a “National Treasure”, it would not be allowed to leave the country.

But behind all of this, other talks were going on. French auction houses are not allowed to carry out private treaty sales, so a Sotheby’s company outside the country was negotiating a sale. In the end the French state, local bodies and sponsors came up with the money, and have bought the treasure for the Lorrain Museum in Nancy. Sotheby’s compensation? Under the private treaty arrangement, it just gets the vendors’ premium, but no buyers’ premium. But the firm’s specialist, Thierry de Lachaise, says he is privileged to have handled the treasure: “It is breathtakingly beautiful, and extremely rare,” he said. “The ewer is the oldest known with a Paris hallmark, and the set of 12 spoons are 150 years earlier than any other known sets.”

The Art Market: “When You Have the Right Property, You Get Fireworks” (Financial Times)

More from Art Market Monitor

  • China Art Capital of the 21st C?China Art Capital of the 21st C?
  • Christie’s Announces Monet Water Lillies with $30-50m Est. for New York Sale
  • More Gossip from the BrantsMore Gossip from the Brants
  • Wealthy Eschew Equities; Will Art Benefit?Wealthy Eschew Equities; Will Art Benefit?
  • How Shanghai Saved Western Art for ChinaHow Shanghai Saved Western Art for China
  • Gleadell on Old Master DiscoveriesGleadell on Old Master Discoveries

Filed Under: General

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor