Feb 1, 2022
It’s fascinating to see how changing social and intellectual values directly affect changing monetary value at auction.
Traditionally, craftsmanship, classic design and artistry stood at the forefront of sales in the form of Regency furniture, Georgian silver, as well as Old Master paintings and drawings.
Today, while Old Masters are still highly valued at the top end, changing tastes and dwindling supplies of the best material mean that these disciplines have faded into the background when it comes to bidding.
Replacing them are the bright, brash new designs of leading fashion brands and digital art and its associated features. Trainers (in the US: sneakers) now command five- or even six-figure prices, with collectors displaying them proudly in stacked perspex boxes. Designer handbags by Gucci and Birkin change hands for eye-watering sums, while NFTs, still so loosely understood by many of those swooping down to acquire them, sell for millions.
Status has always been a driving force behind the acquisition of high-end art and objects – nothing shouts rich and successful like having a Warhol or Van Gogh on the wall – but what has become the cult of self in society today, with its social media influencers, reality TV and celebrity culture, has helped shape what has become most desirable in the salerooms.
What will come next? Will there be a backlash against all this self-indulgence? Perhaps we will return to some of the more traditional values, and with that overlooked gems such as Victorian watercolours may come back into vogue…
Jan 24, 2022
Everyone must have had the dream of finding something valuable in their attic or cellar. But now, with all the TV programmes, from Cash In The Attic to Fake or Fortune, we must have arrived at a time when there can be nothing left to find?
Don’t be too sure. As reported in the past week, an auctioneer trawling through the contents of a dusty old garage in Bath recently came across several treasures: an autograph book dating back around 120 years and containing the signatures of no less a cricketing celebrity than W.G. Grace and other greats from the crease; and several letters handwritten by Grace himself from the mid to late 1890s.
What’s more, the provenance was impeccable: they came from the estate of John Douglas, who played the great game with Grace and his son.
The autograph book also contains the names of players from the touring sides of Australia and the West Indies.
The letters were written to Edward, Lord Somerset and discuss life at the time around Bath and Bristol, hunting, shooting and, of course, cricket.
The autograph book took a cool £11,600, while the letters totalled £1,000.
Still think it’s not worth digging about in the dust and cobwebs?
Jan 17, 2022
The Beano, The Dandy, Valiant, Eagle and Whizzer & Chips were all weekly comic thrills from the 1930s, 40s, 50s and 60s onwards. Bought for a few pennies, they livened up the end of the week, just as youngsters were preparing for the Saturday morning trip to the cinema for a programme of westerns, cartoons and the like.
Characters like Desperate Dan, Korky the Kat, Billy Whizz and the Bash Street Kids were our heroes as we chuckled at their adventures. What we never thought then, as we crumpled the weekly issue and discarded it in the bin, was that we were chucking out a fortune in future collectables.
It’s not so long ago that a first issue of Action Comics from June 1938 broke the auction record for a comic at over $3 million – the cover unveiling Superman for the first time. Additional copies of this rarity followed suit at even higher prices, while other heroes also made their mark in the millions, culminating in $3.6 million for Spiderman’s first appearance in 1962.
Now, however, this frenzied world of collecting has gone one better, with a $3.4 million bid for a single original drawing for a Spiderman comic. Dating to 1984, it shows the webbed wonder clad for the first time in his figure-hugging new black suit.
Even that’s not the record, though. A single original drawing from Tintin and The Black Lotus, by Hergé, took the equivalent of $3.8 million in Paris a year ago.
Where will it all end? Probably with prices soaring a great deal higher now so many of the new multi-millionaires and billionaires are in their twenties and thirties and grew up on this fodder.
Jan 10, 2022
So many factors come into play when buying and selling at auction that it can be difficult to assess how the market in any particular object or collecting field is doing.
For instance, it is counterintuitive that as an artist becomes more successful, their average lot value can actually decline. Why? Because while they may sell more masterworks at higher prices, they can also start selling much higher numbers of lower value drawings and prints and this dilutes the average price.
Auctioneers have to be careful not to flood the market, which can also depress prices and sell-through rates, thereby damaging the market for an artist or collectable. This means that they have to have a reasonable idea of what the market can take at any given time – and must be able to gauge this for a multitude of items.
Prices may also vary depending on when items are put up for auction: sales of vintage ski posters, for instance, tend to be held in February and March, when the ski season is getting underway and the rich are thinking about their chalets.
How things are presented at auction is another important factor, as is where they should appear in the line of lots so that the auctioneer can build a crescendo of buying and revive flagging interest at key points in the proceedings.
In fact, the psychology of the auction process would make a fascinating theme for a book.
Jan 6, 2022
This is the final set of predictions for 2022 from Antiques Roadshow expert Mark Hill, written in partnership with the CEO of the company he now works with, Ronati.
They continue like this:
The market will look inward if international shipping remains a serious challenge. This means that dealers will look for new collecting fields and opportunities to market items that have so far been overlooked or neglected. We could see a significant expansion of British Folk Art as a result.
Creativity. The greater the challenge, the more inventive and ingenious people tend to be in finding a way around it. After two years of frustration, we should be ready for a mini Renaissance in terms of cultural and business creativity. This could mean rapid progress in developing technology and marketing within the art and antiques market. All of this adds up to widespread opportunity.
I have found these predictions – set out over the past three weeks – fascinating and very much in tune with the way I see things. To quote Stacey Tiveron, Ronati’s CEO, whatever the technological and marketing developments the following remains true:
“Essentially, we are potentially entering an era of unprecedented opportunity for those with the right mindset,” says Stacey Tiveron. “This does not mean a change in values – expertise, knowledge, quality and striving for the best will always be key to success – but we have to open our eyes to new activity that may not even appear to be part of the market at first but could turn out to be the next big thing in it.”
Expertise and customer service are at the heart of business success in the auction industry, never more evident, I hope, than in our special valuation days, which launch again in the new year.
Dec 27, 2021
The more I read the set of predictions for the art and antiques market in 2022 and beyond from Antiques Roadshow expert Mark Hill, written in partnership with the CEO of the company he now works with, Ronati, the more I find I agree with them, especially as they tackle the new post-pandemic reality head on in the most constructive way.
Here is there next set of predictions:
More younger dealers will appear on the scene. They may not know it yet, but they will be part of the art market. Generation Z has grown up trading clothes and sneakers/trainers via sites like De-Pop and is already confident in packing and shipping goods off to customers. An increasing number will seek out revenue-generating opportunities trading in jewellery, clothing, musical instruments, vinyl, designer brands and other topical collectables via dedicated sites like Xupes, Cudoni, Hardly Ever Worn It, Discogs, Etsy and StockX. Mainstream art and antiques market actors will do well to take heed and see how they can tap into this burgeoning area of trade.
More luxury brands will start to trade in sought-after collectables from their pre-owned ranges as they realise the revenue stream for this is currently going elsewhere. Look out for areas dedicated to the rare, curated and pre-loved on their main commercial websites. Stella McCartney, Burberry and now Gucci have already tapped into this market, the latter partnering with TheRealReal.
Continued next week
Dec 19, 2021
At this time of year, many people look forward to how their industries and markets may change in the coming 12 months. I have had little time to dwell on this thanks to being happily busy with sales. However, I have noted other sets of predictions and find myself agreeing with many of them. Among the most insightful regarding the art and antiques trade are those from Antiques Roadshow expert Mark Hill, written in partnership with the CEO of the company he now works with, Ronati.
Here is what they have to say:
Business on the go. Technology will continue to develop to help dealers become even more versatile in using their time well. As they get out and about more on buying trips and away from their desktops, the need to turn round stock at a faster rate will become a priority. That means that technology supporting the trade will become increasingly mobile.
Expect more hybrid events. Timed and live auctions have merged to create hybrid events, virtual viewing rooms now complement live gallery exhibitions, and even fairs are finding ways of presenting art and antiques in more than one way. Business will look for opportunities that are effectively “inoculated” against lockdowns and travel bans.
Lines will become more blurred between traditional forms of service provision. Auction houses have long acted as dealers via the private sale, while dealers now hold auctions. Fair organisers will look to expand their interests beyond the fixed term of an event by supporting exhibitors in other ways. Other businesses will also look to cast a wider net of influence.
Continued next week
Dec 13, 2021
Beautiful though it was, it had been branded a fake for more than a century after being exhibited at the Guildhall in London in 1899. It had the subject matter and style of the great J.M.W. Turner, but alterations that appeared to have been carried out by someone else.
Now, though, years of research and technological assessment have turned those doubts on their head and the il painting of Cilgerran Castle in Wales has been sold as a genuine Turner for £1 million.
It’s a great result all round, but how do experts make such decisions? Before the advent of modern techniques like X-Ray spectometry and other means of non-invasive checking, it was largely a matter of written records, comparisons with other known works by the same artist and the connoisseurial eye. Everything from composition to brushstrokes can count and there is no doubt that these days science plays a bigger role than ever before. Confirming one artist’s painting, for instance, was possible by analysing tiny particles of hair towards the bottom of the canvas. He had become so intensely involved in painting that his stubble had been caught in the oils.
Occasionally, a previously hidden thumb print or perhaps an earlier painting in the artist’s style will emerge by scanning the work. Even these can be faked though, so you need to be careful.
Nonetheless, this sort of detective work can be as captivating as the art itself and simply adds to the fascination that attracts so many people to our world.
Dec 6, 2021
Brown furniture is out, so they say, but I disagree. While the heavy and imposing presence of mahogany – once that most desired of woods – may have fallen away in popularity, plenty of pieces crafted by the hands of the most consummate designers down the ages still attract a keen following.
For me, the Arts & Crafts movement of the late 19th and early 20th century provided one of the most creative and enduring periods, giving us William Morris, Charles Rennie Macintosh, Ernest Gimson and Gordon Russell, among others.
The art critic Nikolaus Pevsner described Gimson as “the greatest of the English architect-designers”, a worthy title, but one earned not without competition from the other greats. Macintosh, of course, was Scottish.
Russell, who lived until 1982, put down his saw and plane at the end of the 1920s to manage what became a furniture factory, putting out beautiful cabinets, tables, chairs and other pieces that are treasured to this day. But it is his own hand-crafted pieces that are most sought after.
Just east of Petersfield, you can still visit the active workshop of the late Edward Barnsley, though you will need deep pockets to commission something special.
To the north of England, the modest but no less accomplished hands of Robert ‘Mouseman’ Thompson added his signature carved mouse to every piece from 1919, creating not just an avid fan base inspired by the honest solidity and supreme craftsmanship of his oak cupboards, bread boards and chairs, and by the captivating rippled surfaces of his chests of drawers and tables, a feature created using an adze to catch the light in the most enchanting way.
Look them all up on the internet and then tell me brown furniture has had its day. Alternatively, bring your examples to me on one of our valuation days.
Nov 29, 2021
Every time I stage a valuation day at our Fernhurst rooms I’m reminded of that classic episode of Only Fools and Horses where the Trotter family’s heirloom, a discarded pocket watch, turns out to be a lost Harrison worth millions. The image of their battered Reliant Robin parked on double yellow lines outside Sotheby’s in Bond Street is priceless. Finally Del Boy and Rodney became the millionaires they’d always dreamed of being.
It’s just as exciting for the valuer when something special is handed across the table at one of these valuation days. It’s surprising just how many people really do have something of value in the attic or in the cupboard under the stairs.
Headline-grabbing finds of recent years have included a rather battered looking box used as a TV stand that turned out to be the Mazarin Chest, an extremely rare Japanese antique valued at £6.3 million.
Another was the portrait of a man in a ruff picked up at a Cheshire antique shop for £400 in 2004. Ten years later it was spotted as a genuine Van Dyck on the Antiques Roadshow and valued at £400,000.
One of my favourite stories is of the New York family who bought a fairly plain looking white bowl at a garage sale for $3 only to find out later that it was an ancient Chinese treasure over 1,000 years old and worth $2.2 million.
Now I’m looking to make a discovery. What have you got for me? You can bring in an item or photo any time. Check in your attic and see what you find!
