Art Market Monitor

Global Coverage ~ Unique Analysis

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

Rehs on The Victorians

January 4, 2011 by Howard L. Rehs

Hyped as a select group of Victorian and Edwardian Masterpieces one would have expected big things from this Sotheby’s sale … but that was not the case; the works (and their estimates) just did not live up to the hype.  It was interesting to read their presale press release since they used the off-the-charts price for the Alam-Tadema (Finding of Moses – sold in NY for $35.9M) as a springboard for this sale, but I think we all know that the Tadema was a one-off event.

The release also stated that the sale would begin with 14 carefully selected works from private collections with a combined estimated value of about £3M.  Well, by the time they hit lot 14, only 7 had sold; leaving a combined total of £1.56M ($2.5M) – not a very good start.  In addition the most expensive work, a Tissot (£800-£1.2M), found no takers – it was last on the market in 1996 and sold for £440,000; and Godward’s A Tryst failed to meet its reserve – it was last on the market in 1999 when it made £275,000. Both were strong prices when they were originally bought at auction and the owners will have to wait a little longer for the market to reach the levels they now want.

Oh, they did offer an Alma-Tadema which was estimated at £200-£300K and failed to find a buyer; to be honest, the woman featured in the painting was not very attractive.  The seller bought the work in 1996 for $195,000, then tried to sell it in 2008 with an estimate of $700-$900K (come on) and now tried it at less than half that range … still no takers. Remember, just because one painting by an artist does exceptionally well does not mean the next one will … it all comes down to what is on the canvas.

Of the 90 lots offered only 44 sold (48.8% sell-through rate) for a grand total of £3.3M ($5.24) – about what the first 14 lots were supposed to bring.  Not very good!

More from Art Market Monitor

  • Bernanke Likes RauschenbergBernanke Likes Rauschenberg
  • Rediscovering David Bomberg and His Followers, the Borough GroupRediscovering David Bomberg and His Followers, the Borough Group
  • Interview with Tim Fleming, Director of Art Los Angeles ContemporaryInterview with Tim Fleming, Director of Art Los Angeles Contemporary
  • Mutually Admired DesignMutually Admired Design
  • The Unsung Hero of the Picasso MarketThe Unsung Hero of the Picasso Market
  • The Global Liquidity Glut May Be Coming to an End but Art Prices Aren’t the IndicatorThe Global Liquidity Glut May Be Coming to an End but Art Prices Aren’t the Indicator

Filed Under: Auction Results

About Howard L. Rehs

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