Sotheby's

Basic buyer’s premium almost doubles: On the rainswept evening of November 29 in Paris, as the tricolor fluttered proudly over the Elysée Palace and Christmas lights twinkled on the Champs-Elysées, history was made as Sotheby’s became the first foreign auctioneers ever to sell in France – exploding a monopoly dating back to 1556.

AUCTIONEERS Sotheby’s (20/15/10% buyer’s premium) combined with New York dealers Stacks to auction the Dallas Bank collection of United States coins on October 29-30.

Individual entries consigned to Sotheby’s and Christie’s Chinese sales were an encouraging reminder to any jaded dealer that if you look hard enough and long enough, sleepers are still to be found.

Nothing is more certain to draw buyers in their droves than modestly estimated works from private collections. A single textile entry and two conservatively estimated porcelain collections did just that at Sotheby’s Olympia (17.5/10% buyer’s premium) inaugural Chinese Works of Art on November 16.

Counsel highlights undisputed lies: The most dramatic episode yet in the trial of Alfred Taubman was played out in a New York court last week. The former boss of Sotheby’s was accused by his one-time protegé, Diana ‘Dede Brooks’, of forcing her into a criminal conspiracy with arch rival Christie’s. He denies any wrongdoing.

The Frederick B. Adams Jnr. library of English & American Literature was sold by Sotheby’s on November 6 and 7. The second day was devoted entirely to Adams’ magnificent Thomas Hardy collection, but among the highlights of the general sale was an inscribed presentation copy of the 1923, first English edition of T.S. Eliot’s The Waste Land, illustrated right, that sold at a higher than expected £80,000 to Peter Harrington.

DECO & MODERNIST FURNITURE: While much of higher-end Deco struggled to find buyers prepared to match the bullish levels seen in recent seasons, there was still some interest in this field, and the odd exception to buck the trend.

SOTHEBY’S Holdings Inc, the auction house’s parent company, have announced third quarter revenues for 2001 of $38.4m and a net loss for the period of $33m.

FORMER Christie’s managing director Christopher Davidge has told the jury in the Alfred Taubman trial that Sotheby’s ex-chairman was involved in the illegal price-fixing between the two auction houses.

As Sotheby’s ex-boss Alfred Taubman faced a New York jury last week on criminal charges of fixing vendors premiums with Christie’s, there was still no sign of money owed to dealers in the related civil law suit that was settled in April. The reason? Two US appeals.

Just like the following week’s 20th Century Italian sales, Sotheby’s (20/15/10% buyer’s premium) October 18 inaugural theme sale exclusively devoted to Greek art notched up selling rates that belied the pessimism prevailing in so many other sectors of the market.

Early Qing imperial porcelain has long been the darling of the Hong Kong Chinese auctions so when a Qianlong (1736-95) mark and period dragon vase with a previously unpublished pattern came up at Sotheby’s (20/15/10% buyer’s premium), Hong Kong on October 29, sparks flew and an auction record was set for a piece of Qianlong porcelain.

FRANCE: After a long and frustrating delay, Sotheby’s and Christie’s finally got the official go-ahead late last week to conduct auctions in France. They were among the first four auction houses to receive a licence from the French Conseil des Ventes on October 25 and both houses swiftly announced details of their inaugural sales to be held later this year.

SOTHEBYS.COM are offering a rare portrait by Frederick Lord Leighton, which has been discovered in the estate of a collector from Indiana in the United States.

Sotheby’s (17.5/10% buyer’s premium) move to Olympia was accompanied by a rethink of auction selling categories. Their general ceramic and glass sales have been split into smaller specialised European ceramics, British ceramics and glass auctions each to be held tri-annually at Olympia.

Last week’s German and Austrian art sales, the first major test of international art market since September 11, pointed to difficult conditions ahead for Sotheby’s and Christie’s – and indeed Phillips – during the forthcoming winter season.

Staff briefed on avoiding conflicts of interest. Sotheby's have sent out a memo to leading members of the trade involved with fairs at Olympia to explain how they will support exhibitors.

The imminent cessation of all sales – including wine – at Sotheby’s Chicago has left a gap in the Mid-West market that newly-established wine auctioneers Edward Roberts International are keen to fill. Brainchild of Edward Robert Brooks, the much-travelled head of Christie’s and the short-lived Phillips’ North American wine departments, Edward Roberts will mount their first live sale of fine and rare wines at The Union League Club of Chicago on Saturday, November 10.

“For the really top things there’s no shortage of buyers, but the middle ground is weaker,” affirmed Stephen Mould of Sotheby’s wine department. “If you’ve got large parcels that depend on the trade, then bidders are more cautious. But if you’ve got small quantities of the finest things there are plenty of private buyers prepared to pay good money.”

At the end of the morning session of Sotheby’s Garden Statuary sale at Billingshurst, the National Trust took over the rostrum to offer such items for gardening enthusiasts as an avenue of 40 young limes from the Trust’s nursery in Cheshire, home visits from Trust gardening experts and so on, but the piece of trade interest was a scrapbook kept by Vita Sackville-West at Sissinghurst donated by her son Nigel Nicolson.