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Rising Value of Unrestored Cars

By Malcolm Welford, Vintage Car Specialist
 

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Archive for July, 2010

Illuminated Manuscript Sells for $1.67 Million

July 08, 2010

A 13th century illuminated manuscript by Bartholomaeus Anglicus, “Le Livre des proprietes des choses,” has sold at Christie’s Arcana auction for $1.67 million, close to its high estimate, and a rare 4th century Hieronymus “Epistolae” realized $1.42 million. It was the first time since 2002 that a book has sold for more than $1 million at Christie’s London. In all, the auction raised over $12 million.

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Turner Impresses At Sotheby’s

July 07, 2010

An 1839 landscape by J.M.W. Turner sold for a staggering $44.9 million at Sotheby’s Old Masters sale, which realized a hefty $81.3 million, easily eclipsing the results of its rival, Christie’s. Turner’s “Modern Rome – Camp Vaccino” realized almost double its high estimate. Nothing else in the sale registered the same impact, although works by Peter Brueghel the Younger and Jan Blievens each sold for $3.81 million.

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Rubens Highlights Solid Old Masters Sale At Christie’s

July 07, 2010

With the sale of a $13.7 million Rubens leading the way, Christie’s realized a healthy $64.3 million in its London sale of Old Master and 19th century paintings. The price for “Portrait Of A Commander,” formerly owned by the family of Princess Diana, was the second highest ever paid for a Rubens at auction. A remarkable eight other artist records were set during the evening, in which some 70% of the offerings were sold.

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Christie’s To Offer Avedon Photographs

July 06, 2010

After World War II, at the invitation of Harper’s Bazaar, the late Richard Avedon began shooting a series of fashion photographs set against Parisian landmarks. For many Americans, these iconic images did as much as anyone’s work to convey that city’s romantic, exotic allure. Perhaps the famous photograph was “Dovima With Elephants, Evening Dress by Dior, Cirque d’Hiver, Paris, “ seen above. Now the Richard Avedon Foundation will sell some 65 photographs, which are expected to raise about $6.2 million.

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Contemporary Art Falls Short At Christie’s

July 02, 2010

Response was decidedly tepid at Christie’s London day sale of Post War and Contemporary Art. Of the 320 lots, 113 remained unsold and another 43 sold under the low estimate, resulting in a total of $19,662,000 including fees, some 20% less than the low estimate. High sellers were Martin Kippenberger’s “Untitled (1988)” and Steven Perrino’s “Blue Idiot (1986),“each of which realized $540,000, not including fees.

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    Recent Results

    • At Antiquorum's watch auction in Hong Kong, a Patek Philippe ref. 5074, with complications including a minute repeater with carilon, sold to an Asian collector for $574,791, the top price at the sale.
    • A block and shell mahogany bureau table, dated 1770, by noted colonial cabinet maker John Townsend has sold at Christie's for $2.2m, for than twice its $900,000 low estimate.
    • The '49 Buick Roadmaster featured in the 1988 "The Rainman" movie sells for $170,000.
    • The upright piano from the 1942 classic film "Casablanca"--the one on which Sam plays "As Times Goes By"-- sold for $602,500 at Sotheby's in New York.
    • "The Coachman," the iconic 1923 painting by Boris Kustodiev sold at Christie's Russian Art Auction for a record $7m.
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    Eye On: Taxes

    U.S. Taxes on art bought abroad

    Collectors buying art at auctions overseas must be aware of U.S. tax consequences. Here are some tips from Alan Olsen that will help smooth the way.


    Art Bought Overseas CPA Alan Olsen, of Greenstein Rogoff Olsen & Co., talks about the U.S. tax consequences when you purchase art abroad. Watch Video


    Ask Alan A Question


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