Nov 12, 2018
The sale, earlier this month, of the late Professor Stephen Hawking’s wheelchair is the perfect example of how auction values are often all about an item’s associations or symbolism rather than any specific intrinsic value.
At just under £300,000 including buyer’s premium, the specially kitted out motorised wheelchair may be a rare piece of machinery in itself, but it is the genius who sat in it that makes it unique.
Other Hawking items, including his Albert Einstein Award, also made huge sums, but without the man himself they are just so many pieces of wood, glass, metal and plastic… aren’t they?
Clearly not. The war memorials we all stood in front of on November 11 to honour the sacrifices of the Fallen on the centenary of the end of WWI are emblems of those who are no longer there, but we felt their presence strongly as the bugler played the Last Post. They provide a material focus to our interest and attention.
Just so museum exhibits, tokens of affection, mementoes, religious relics and, indeed, the personal effects of historic figures like Professor Hawking. As tangible reminders, they help concentrate the mind on the spirit and character of those with whom they are associated. And it is our continuing fascination with these individuals that means we never tire of attempting to connect with them via these objects – and that’s what gives them their value.
Nov 6, 2018
How healthy is the future of the antiques and auctions market looking? Some seem to think that the young have no interest in antiques or the traditional auction process and that our days are numbered. Not so. As far as I can see, the evidence points to the reverse.
Look at all of the websites and apps set up to recycle second-hand clothing and fashion items. I know teenagers who have effectively set themselves up as dealers as they market this gear, while others are already well versed in the online auction process as they chase the rarities and bargains.
Think, too, of all the new antiques dealers out there. They may be purveyors of retro furniture and design, 1970s jewellery and suchlike; they may be selling out of pop-up shops in trendy markets like Spitalfields; and it may not have occurred to them at all that they have anything to do with our wonderful world. But you know what? They are no different in their passions, approach and ambitions from all of the other antiques dealers over the years; they simply specialise in something different.
And that’s they key: as time passes, so antiques change as well. Few may seek out Victorian sideboards now, but they compete fiercely for their replacements: early and mid 20th century artist-craftsman pieces and post-war Scandinavian design.
So, yes, I am confident that our ever-evolving industry will prosper.
Oct 29, 2018
If you want to find out more about how the art and antiques market works these days, you can sign up to innumerable email newsletters giving you the inside information on the latest trends.
That’s fine if all you are interested in is Contemporary and Modern art sales in London and New York that make millions, or what’s happening with blockchain and bitcoin and how they may help change the way the market works.
Try looking for news on the sort of art, antiques and collectables that interest you, me and most of the rest of the world, however, and your eyes will ache from too much screen time as you search in vain. Ok, top-end prices may make better headlines, but it astonishes me how the media tends to ignore 95 per cent of what is changing hands day to day.
Let’s face it, if you are interested in collecting and want to know about any given field, you need to know the ins and outs, what to look for, what to avoid and what factors affect values. That’s where collecting clubs come into their own. So next time the idea of chasing the rarest piece of Clarice Cliff strikes you, forget the trendy newsletters and head for the collectors’ club website and immerse yourself in knowledge.
Oct 22, 2018
Have you ever wondered what it must be like to stand (or sit) at the rostrum and shout out the lots? How much of a skill is it to tease bids from those ranged before you or, come to that, from the phone or internet?
Having done this for decades, I suppose it comes as second nature these days, although creating the same atmosphere to excite those viewing remotely on screen has proved to be an altogether different challenge over the past few years, and you need to be on top of your game if you are not to let down your consignors.
In a way, an auctioneer on the rostrum is rather like a conductor leading an orchestra through a concert. The mood changes with the music; at some points you need to create a loud noise, waving your arms about to the crashing cymbals of Tchaikovsky’s 1812 overture, while at others you need to slow the room down to a more sedate waltz as you try to get those paddles waving.
The really skilful auctioneer is the one who can almost reach out and tickle bidders as a conductor might gently wave his baton at the strings section just below him, squeezing those last few bids to ensure a picture or piece of porcelain realises its maximum potential.
There is both an art and a craft to this most unusual of skills.
Oct 15, 2018
Still on the Banksy theme, a number of other extraordinary factors have emerged after the shredding incident at Sotheby’s. Firstly, footage of the drama unfolding released on Banksy’s own website shows that he must have had several representatives in the room as the film is taken from various positions at the same time.
Bizarrely, to my mind, some art experts argue that the ‘performance art’ episode now attached to the piece has possibly doubled its value, despite the fact that it is now largely cut into strips, which frankly doesn’t say much about why some people treasure art.
Perhaps even more bizarrely, it now turns out that at least one other owner of a Banksy work has taken a Stanley knife to it in an attempt to replicate the stunt and thereby double the value of the piece… only to discover that it is one thing for Banksy to do this, quite another for them to give it a go. In their case the five-figure work is now worthless.
As I have advised before, values are subjective and can prove unpredictable, especially under circumstances like these. In normal times, around half a dozen factors help determine prices at auction, but when the extraordinary happens all bets are off.
Meanwhile Frieze, the art fair conglomerate on show in London that normally expects to dominate the headlines at this time of year has had to play second fiddle to this affair – not something it has experienced before.
Oct 8, 2018
One of the most extraordinary things I have heard took place at Sotheby’s in London on October 5 after a picture by the mysterious Street artist Banksy sold at auction for £1m.
After the hammer fell to the successful buyer on Girl with a Balloon, a noise started and the audience watched as a shredder within the picture’s frame proceeded to destroy it. To some people this was another inspired and sensational move by one of the art world’s bad boys as he thumbed his nose at the establishment. All very entertaining in its own way, I suppose.
However, it’s worth remembering that a lot of people would have put a great deal of time, effort and money into preparing the picture for auction, publicising it, and attracting bidders. What about them? Is Banksy going to compensate them and the auction house for lost fees? What about the buyer, who thought enough of the artist to make a £1m bid? Should they be treated with contempt in this way? Or is Banksy the only one allowed to make money out of his art, regardless of all the help and support he has along the way from others? If he doesn’t like his art being exploited financially, I suppose the simply answer would be not to sell it in the first place.
As a piece of theatre, I’m sure the shredding of a £1m artwork at the point of sale makes for a memorable occasion, but as a self-indulgent act at the expense of others, I’m not sure how admirable it is.
Oct 1, 2018
The episode of the Cottingley Fairies did nothing to enhance the reputation of Sir Arthur Conan Doyle, who was taken in by the hoax along with many others, and widely ridiculed as a result.
It all started in 1917 when cousins Elsie Wright, aged 17, and Frances Griffiths, aged nine, took photos of themselves in their garden with what appeared to be dancing fairies and a tiny gnome. In fact they were cleverly crafted coloured cut outs supported by hatpins, but enough people were taken in by the trick for serious discussions about the existence of fairies to arise over a number of years. Conan Doyle went into print more than once on the subject. Around 20 years ago a film of the story was released.
Now the two images are coming up for auction with hopes of £2000.
It’s astonishing a century on that so many people could have been taken in by the hoax, but I believe Conan Doyle should be seen in a more sympathetic light. He had already lost a wife and son and developed a serious interest in spiritualism over a period of 30 years. The thought of life after death and the possibility of being able to contact lost loved ones must have been highly appealing and a great comfort to him.
The Cottingley Fairies episode would have added to his fascination and research and he was keener on being remembered for this side of his life than for his fiction.
Sep 24, 2018
It used to be all about the Three Ds – Death, Divorce and Debt – when it came to reasons for consigning to auction. Now you can add Downsizing and De-cluttering as modern tastes moved towards minimalism in the home and older couples cashed in their property portfolios once the children had flown the nest.
I was reminded of all of these this week as news emerged of a sale that has arisen as a result of Debt. Adding another D – this time for Disaster – the theme of the sale will be the Titanic, whose sinking was a unique event in history that continues to fascinate and horrify in equal measure owing to both the sheer scale of the loss of innocent life and its symbolism. Few catastrophes (the 2004 Boxing Day tsunami was another) better illustrate the lasting truth that no matter how developed and sophisticated we become as a species, humans are only ever a small step away from the unstoppable caprice of nature.
In this case a company specialising in exhibiting Titanic memorabilia has filed for bankruptcy, leaving all the exhibits up fro grabs. When you consider that the violin played by the bandleader as the ship sank sold last year for $1.7 million (it’s not part of this sale) the attraction of Titanic items becomes obvious.
However, putting all the pieces on the market at once risks deflating values, so it will be interesting to see how the administrators handle the auction.
Sep 18, 2018
I’ve written before about how some of the most valuable collectables arise out of their rarity – sometimes because they were deliberately produced in tiny editions to create such a demand, but also because they were withdrawn after a short run because of mistakes or proved undesirable at the time. Two examples of the latter are The Exploding Trench, a WWI toy that manufacturers Britains made the mistake of filling with British rather than German model troops, and the Vinyl Cape Jawa figure, a minor character from Star Wars, soon replaced by one dressed in a cloth cape.
Such limited editions are common in the world of stamps (the Inverted Jenny), coins and bank notes too. In the news this week is the gold Kew Gardens 50p piece, an edition limited to just 1000 to celebrate the 250th anniversary of the gardens in 2009, of which only 629 sold to the public. Featuring the famous pagoda landmark from within the gardens on the reverse, the price for a single one of these is expected to reach £800 at auction this month.
My other, more recent, favourite, is the limited run of just six £5 notes soon to be put into circulation with a micro engraving of England football captain Harry Kane and the inscription World Cup Golden Boot Winner 2018 next to the image of Big Ben.
Keep your eyes peeled for one of these; they are valued at £50,000 apiece.
Sep 10, 2018
I’m writing this as the three-day Goodwood Revival, just up the road over the Downs, comes to a close. Along with the Festival of Speed, which takes place in mid July, there really is no better celebration of the magic of motoring. Whether you’re a petrol head pursuing performance and the acme of engineering, or a design darling marvelling at the sleek lines of the most memorable marques, these are the events that show why classic cars have been at the peak of price increases in the world of auctions and collecting over the past 20 years.
Even with a slight softening of values over the past three years or so, for the most outstanding cars coming to the rostrum the records continue to tumble. In fact, it was only last month that a new world auction record was set for a car when what is arguably the most desirable model ever made, the 1962 Ferrari 250 GTO, took $48.4 million at the Monterey sales.
Lewis Hamilton (Mercedes) may be leading Sebastian Vettel (Ferrari) in the F1 Driver’s Championship by some margin at the moment, but when it comes to collecting, nothing comes close to the Italian marque with the Prancing Horse mascot. It accounts for seven of the top ten prices for cars ever taken at auction …including ALL of the top six.
