However, proof came from Paris last week that if you offer the very best from an old valued collection, even unfashionable sectors can rise to the occasion.
The 27 lots of medieval carved ivories and enamels collected principally in the early years of the 20th century by Georges Dormeuil and his descendants attracted fierce international competition when they were offered at Sotheby’s (25/20/12% buyer’s premium) on November 19.
It ensured every lot sold, many for prices well in excess of estimates and that the final hammer total of €8.2m (£5.9m) was almost three times the auctioneers’ upper projection.
A major slice of that figure was contributed by this large and highly detailed ivory diptych measuring almost 10in (25cm) in height and 121/2in (31.4cm) in width and carved in three registers with detailed scenes of the passion of Christ.
It is attributed to a the so-called ‘workshop of the Passion diptychs’, a group of ivories produced in Paris in the second half of the 14th century which are distinguished by their larger than average dimensions and their densely populated, fine quality carving.
As the star entry of the collection, it was accorded the highest estimate of €1.2m-2m and Sotheby’s predictions were duly confirmed. It attracted bidding from the room and the telephones culminating in a dual between two phones, the winner being London dealer Sam Fogg, acting for a private client, who finally secured the carving at €3.6m (£2.57m) plus premium.
By Anne Crane
At €3.6m, the best early works of art can still arouse bidders’ passions
Early works of art might be seen as something of a Cinderella area of the market, somewhat left behind when compared to contemporary and Asian art or even some other traditional fields.
