Lindsay Pollock reports on the surprise bidding battle for a work of American Folk Art at Keno Auctions in its inaugural Stamford sale. The Gansevoort Limner painting was estimated at $80,000 but the bidding drove the price to $1.1m, according to Pollock:
Connecticut dealer David Schorsch bought the painting on behalf of a private American folk art collector he declined to name. He dates the work to 1739.
“I’m sorry we had to pay quite so much money, but it’s a masterpiece,” said Schorsch in a phone interview. Schorsch said there were four other bidders up to $500,000, and then he and another collector battled to the finish. “I was almost getting to my breaking point, so I’m glad he stopped.”
Bidders Chase Filthy 18th C. Beauty at Keno Auctions, Price Soars (LindsayPollock.com)