Sotheby's

SOTHEBY’S have registered a 12 per cent rise in turnover on the fourth quarter of last year, but net losses for the year have climbed considerably thanks to extraordinary costs. Three quarters of these costs relate to anti-trust settlements.

Christie’s and Sotheby’s have each agreed to pay $20m (£13m) to clients who bought and sold antiques at auctions held outside America.

Decorative arts from 1870s Gothic Revival to 1960s Murano glass and everything in between is on offer at Sotheby’s Olympia this month. Their sizeable gathering of over 230 lots, which goes under the hammer on February 27, takes in examples of all the major design movements of the 20th century (and the latter end of the 19th): Art Nouveau, Arts & Crafts, Wiener Werkstätte, Deco and Modernism.

SOTHEBY’S have announced that they have given up trying to find a buyer for the controlling stake of disgraced former chairman A. Alfred Taubman.

SOTHEBY’S have started a new staff review and admit that further redundancies are likely.

The first furniture sale of the year at Sotheby’s Olympia (20/12% buyer’s premium) was a 272-lot gathering on January 14 which saw two-thirds of the contents change hands.

It was a definite case of first the bad news, then the good news at the February round of Impressionist, Modern and Contemporary sales in London. While Impressionist and Modern works failed to sparkle, there was a significant surge in interest for the Contemporary.

Sotheby’s have dramatically scaled back their ambitious but costly Internet operation, announcing an end to all separate online auctions by early May.

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.

FILLED with nearly 200 dazzling images of battles, knights, damsels in distress, tournaments, and castles that represent the finest work of the Rouen illuminators of the early Renaissance and captures all the pageantry and drama of the Hundred Years’ War, the extraordinarily fresh illuminated manuscript of Froissart’s Chronicles that sold for £2.75m at Sotheby’s on December 3 must have been the finest and most profusely illustrated manuscript of that famous work ever made.

A 1467 second edition of the second part of Thomas Aquinas’ Summa theologiae, a massive treatise on moral rather than dogmatic theology that stands as an independent work, was one of the earlier printed highlights of a $4.69m (£2.97m) sale held by Sotheby’s New York on December 13, and once again it was one of a number of lots making a rapid return to the rooms.

Contemporary Decorative Arts, Sotheby’s annual showcase for new craft and design, gets underway for its seventh successive showing next month. For a week from February 13-21, the Bond Street rooms will be given over to the latest in furniture, lighting, ceramics, jewellery, glass, silver and textiles by over 50 designers from round the world, all for sale.

One of the most unusual and interesting pieces in Sotheby’s December 11 sale of Continental furniture was the 19th century English boulle cabinet shown right set with a rare 17th century Dutch mother-of-pearl and hardstone inlaid panel depicting a Vanitas subject.

Peter Waldron, senior silver expert and senior director of Sotheby’s Europe, retired at the end of last year after a 36-year career with the company and 29 years at the rostrum.

Another instalment from the holdings of well-known collector Stanley J. Seeger went under the hammer at Sotheby’s Olympia rooms on December 13. This 352-lot offering, subtitled Out Takes, was a particularly eclectic selection, ranging from contemporary Venetian glass and tribal art to Middle Eastern pottery and Victorian chaises longues.

The Gart der Gesundheit is one of the giants in the field. The most important herbal of the 15th century, it contained the finest illustrations of the incunable period and was unsurpassed until the appearance of the first edition of the Brunfels herbal in 1530.

19th century cameo glass was the strong suit in Sotheby’s sale of European glass from the Hida Takayama Museum of Art in Japan, held in their Bond Street rooms on December 19. Amongst a number of pieces that were particularly keenly contested by the room and the telephones was this 16in (41cm) high Thomas Webb vase which sold to a private buyer for £95,000 (plus 19.5/10% premium) after bidding first from the room then a battle between two telephones.

Sotheby’s claimed a world record price for a printed French book on December 5 when a 1931 edition of Balzac’s Le Chef d’Oeuvre Inconnu, illustrated by Picasso, sold just short of estimate for €550,000 (£353,000).

European Works of Art: There was no real surprise about the star lot in Sotheby’s December 10 works of art sale. The piece that attracted plenty of attention at the pre-sale viewing and made far and away the highest price in the 177-lot gathering was this c.1520-25 terracotta bust of the Virgin and Child by Il Riccio, which, at £3m, singlehandedly accounted for two thirds of the auction’s entire £4.47m total.