Christie's

Luxury goods magnate Bernard Arnault finally abandoned his attempt to compete with Christie’s and Sotheby’s at the top end of the art market last week when he sold his remaining 27.5 per cent stake in troubled auction house Phillips to its joint chief executives Simon de Pury and Daniella Luxembourg.

There was little in the three series of 19th century sales held by Sotheby’s, Christie’s and Finarte-Semenzato in December to get excited about.

Gino Severini’s Les objets deviennent peinture (vase bleu et maïs) was one of the most significant lots in Christie’s 310-lot auction of Contemporary art in Rome on December 18. Dating from 1965, this picture was the last oil still life he was to paint and, indeed, one of the last works to be finished before his death.

High quality watches are still in demand but condition is all-important to today’s discerning collectors. At a sale devoted entirely to watches at Christie’s King Street back on November 26, this gold chronograph pocket watch, right, by Louis Audemars c.1870 took £40,000.

CHRISTIE’S have unveiled some major changes for their 20th century decorative arts policy in Europe. The auction house have closed their King Street department and are concentrating all their London activities in decorative arts at South Kensington. They also want to develop and raise the profile of this field in France with regular dedicated auctions in Paris under specialist Sonja Ganne.

One of the most significant and comprehensive sales of Victorian paintings for some time is to take place next month when The Forbes Collection of Victorian Pictures and Works of Art goes under the hammer at Christie’s King Street. The sale of more than 350 lots comprises almost the entire collection, which was assembled over three decades by one man, Christopher Forbes, of the well-known American publishing family, and was housed until now at Old Battersea House.

Cameras: A 100 per cent sell-out is something to crow about these days and Christie’s South Kensington were certainly pleased to chalk up a complete success for their sale of Jim Barron’s collection of British Cameras on December 11.

Patrick Bogue has been holding successful poster sales at specialist collectables auctioneers Onslows since 1984 and his latest was a reminder that Christie’s South Kensington do not have a monopoly on this active market.

Continental Furniture: Christie’s offered a concentration of furnishings from Continental Europe on December 12, kicking off with a select 114-lot, separately catalogued morning session devoted entirely to French furniture, with a larger 240-odd lots drawn from across the European spectrum in the afternoon.

RICHARD Madley, former president of Christie’s East, New York, has returned to the UK and joined Hamptons with a view to increasing the firm’s presence in the auction market.

Just where were those bears made? The familiar stands, seats and other furnishings fashioned as realistically carved bears, usually from limewood, have traditionally been attributed to the Black Forest region of West Germany but recent researches suggest that Switzerland is a more likely source.

A combination of vendors reluctant to consign the best quality goods and cautious bidding from the trade created a fairly low-key atmosphere at London’s traditional pre-Christmas round of Old Master picture sales.

Thanks to the combination of sporting subject matter and extremely slick technique, Sir Alfred Munnings (1878-1959) continues to be one of the few early 20th century British painters to command a truly international following among the world’s richest private collectors.

François Curiel, head of Christie’s France, has set a precedent by winning permission to direct sales in France. It is the first time that the Conseil des Ventes, France’s auction watchdog, has authorised anyone who has not passed the traditional commissaire-priseur’s exams to hold the gavel.

Five days after Sotheby’s auction, a smaller, 152-lot Russian sale comprising works of art and pictures went under the hammer at Christie’s South Kensington’s rooms on November 26 and here too buyers picked over the contents with 60 per cent changing hands.

November 19 was a very busy day for silver fanciers, obliged to make a decision about which of a trio of overlapping London sales they wished to attend in person. As well as King Sreet's main sale, there were more standard offerings at Christie’s South Kensington and Bonhams Knightsbridge (each 17.5/10% buyer’s premium).

The market for high-value Victorian pictures took a downturn last week when Christie’s and Sotheby’s Important British Picture sales posted some worryingly high levels of bought-ins.

The upside of Asian art in London is that the volume of sales pulls in all the Asian and international buyers. The downside of this concentration is that scheduling without overlap is difficult and buyers inevitably pick their way through all those goods selectively. Christie’s South Kensington, who fielded a marathon 600-plus lot Chinese auction on November 14, felt both effects.

Sotheby’s and Christie’s October sales of 19th Century European Art in New York told, or at least seemed to tell, very different stories of the current state of the market for high value Orientalist and genre painting.

The results of Hong Kong’s October Asian series underscored the increasing polarity in this market in which there seems no limit to collectors’ and dealers’ insatiable desire for the best Qing dynasty mark and period porcelain or quality Chinese works with good provenance, but little interest in more standard Oriental fare.