Auctions

The falling stock markets that have dented the wealth of Russia’s rich have yet to impinge upon the appetite for the output of Karl Fabergé.

Surrey fine art auctioneers Ewbank are selling architectural stonework from the Palace of Westminster that dates from before the buildings were destroyed by fire and rebuilt in the 1830s.

THE latest series of contemporary art auctions in New York showed how much the market has fallen since its peak. With sale totals down well over 50 per cent from last year’s autumn series held at the height of the boom, the extent of the damage caused by the current economic distress and diminished confidence amongst buyers was manifest. The question now is will prices stabilise or fall further?

COMING just hours after the election of Barack Obama in the US, a poster of the new President-elect sold at Bonhams & Butterfields in California for a double-estimate $4800 (£3145).

AS millions of Americans celebrated the victory of Barack Obama, Christie's announced that they will be offering an important memento from another historic Presidential election which brought a sense of hope to the country.

Following the sometimes painful results of last week's Impressionist and Modern art sales in New York, there can now be little doubt that the worldwide financial distress is undermining demand for trophy paintings and sculpture. All sales missed their low estimates by some margin.

The unique Russian Catherine the Great 1755 gold 20 rouble coin sold for a record price of £1.55m hammer at St James's Auctions on November 6.

Fireworks were seen in Edinburgh on November 5 when this Charles Voysey secretaire leapt above its modest £3000-5000 estimate to sell for £70,000 at Lyon & Turnbull's Decorative Arts sale.

A PAIR of silver 18th century Dutch candle snuffers thought to have been a gift from Bonnie Prince Charlie sold for £9800 at Hampton & Littlewood of Exeter on October 30. Measuring 8in (20cm) high, the snuffers and holder were passed down through the MacDonald family to the descendant who entered them for auction.

Smallwork remains one of the most collectable areas of the silver market, and Dorchester auctioneers Duke's will be aiming to tempt enthusiasts for one particular corner of this arena later this month.

An early Sooty glove puppet used by Harry Corbett for the 1950s children's TV show was sold by at auction by Hanson's at the Mackworth Hotel, Derby, on October 29 for £3100.

DESPITE falling stocks, banks freezing and now top-end contemporary art taking a tumble, Samuel John Peploe's (1871-1935) Roses sold at £440,000 hammer to a UK private buyer at Christie's Scottish art sale in Edinburgh. With premium included, this was a record for a Scottish Colourist, although not a hammer record.

THE balloon-like market for contemporary art lost much of its air last week as both the Frieze Art Fair and its related auctions suffered the full force of the global economic crisis.

THE contemporary art downturn had a tangible effect on the market for urban art as the sales staged in London by Bonhams in New Bond Street on October 23 and Dreweatts in Shoreditch on October 14 witnessed greater selectivity amongst buyers.

Offered at Lawrences of Crewkerne on October 16, this Ming dynasty blue and white brushwasher has Xuande (1425-1435) character marks and is of the period.

Reports of the vast sums of money lost by some Russian oligarchs in the recent financial crisis did not appear to hamper enthusiasm for a collection of Russian cloisonné sold at Freeman’s in Philadelphia on October 8.

A Bank of England £1m Treasury note sold at Spink on October 1 for £68,000.

WHETHER or not the art market will be able to steer its way through the current financial storm remains an open question. But providing some relief from the constant talk of falling stocks and the global credit crunch, a pair of Dutch marine pictures saw some strong bidding at the latest picture sale held by Woolley and Wallis on October 8.

It proved, as predicted, to be the highest priced item in London Islamic week sales, but the Fatimid rock crystal ewer did not generate quite the fireworks that were expected before it came up for sale at Christie's on October 7.

Royal Worcester porcelain is one of those collecting areas which is plentiful enough in its many different ornamental styles to support a wide collecting base. There are buyers for all the different forms, from George Owen’s scarce reticulated vases to Doris Lindner’s equestrian models.