This is true, and applies to everything they sell. I live around the corner from Sothebys and am there often, and buy from and sell through (other than African
Message 1 of 5
, May 16, 2008
This is true, and applies to everything they sell.
I live around the corner from Sothebys and am there often, and buy from and sell through (other than African pieces) them from time to time. They've refused a number of pieces from me over the last year, some of which sold elsewhere for over $5,000, but weren't estimated at that amount. They also used to have a secondary auction, much like Christies' house sales, which specialized in pieces under $10,000. They gave that up. The idea is that their costs are pretty fixed but the profit isn't enough to justify them if they aren't selling $86 million Francis Bacon triptychs. I dislike this policy on both ends, buyer and seller. I also think that it serves to inflate prices at the low end, especially with the really high buyer's and seller's premiums.. I think collecting should be
The Sothebys auction contains a lot of very nice small pieces. A couple of them are similar to but somewhat better than ones in my collection, and so I am very curious to see what they actually sell for. I'm sure you'll enjoy it.
--- On Thu, 5/15/08, RAND (www.RandAfricanArt.com) <rand@...> wrote:
I heard from someone else as well that the Bonham's facility is pretty nice and they've done a nice job displaying things. It seems to me that they're trying to grab a section of the market that Sotheby's is moving away from, as well as latch onto the higher end objects. I've heard from 2 different people that Sotheby's is declining objects (African and Oceanic) that wouldn't have a minimum estimate of $5,000. I've also heard that they're declining paintings, contemporary I think, that wouldn't have a minimum estimate of $50,000. I just browsed through the catalog for
tomorrow's Sotheby's auction and noticed that, with an exception or three, that all of the lots offered have a minimum low estimate of $5,000.
Your message has been successfully submitted and would be delivered to recipients shortly.