The 533 lot sale grossed $1.8 million at hammer ($2.1 million including Buyers Premium) with 68% of the lots sold by number, and 71% sold by value.
Even excluding the Charles McLean sideboard, which sold for $500,000 ($600,000 IBP) and is covered in an earlier article on the Antiques Reporter site, (Private buyer assist's Sotheby's to set record Australian furniture price), the October sale almost doubled the results achieved in the smaller 361 lot May 2010 sale which sale grossed $1.1 million at hammer ($1.3 million incl. BP) with 212 of the 361 lots sold by number, giving a clearance rate of 59% of lots offered.
With the increasing interest by Asian buyers in sourcing items from local auctions, 25% of the lots offered were of Asian origin. The 130 lots were offered on the first night of the sale, and confirmed Sotheby’s judgement, with 78% of the lots sold.
This was after the sale got off to a heart-stoppingly slow start when 11 consecutive items of Chinese ceramics (lots 8 to 18) failed to sell.
Strong prices were paid for the Chinese watercolours and scrolls, many dating from the 1970’s, all selling above or close to the high estimate.
A buyer paid $15,000 ($18,000 IBP) for Old Man and Donkeys by Huang Zhou, (lot 53) dated 1972 which had been estimated at $4,500 – 5,500.
Ten works by Michael Ayrton (British 1921-1975) comprising five bronze sculptures and five works of art (lots 133 – 142) may have been more successfully offered in his home country. The money was in the bronzes, none of which sold. Two of the paintings were sold, totalling $4,800 ($5,760 IBP) compared with estimates for the group of works of $113,000 – 154,700.
Also disappointing was the 20th Century Furniture, Sculpture and Works of Art, with only 52% of the 44 lots sold.
The Collection of the late Gloria Staley sold 65% of the lots offered, with the highest price paid for a Georg Jensen 'Acorn' pattern flatware service (lot 204). Estimated at $5,000 – 7,000 the setting made $13,000 ($15,600 IBP)
Sotheby’s opened the second night with the Charles Lloyd Jones collection which had realistic or no reserves, and this buoyed the room, especially when the early lots sold for well above low estimate. At the other end of the scale, some lots in the collection were knocked down for less than the low reserve, indicating to potential buyers that the lots were there to be sold.
Only one of the 47 lots was unsold and the collection achieved 165% sold by value.
Highest price in the Charles Lloyd Jones Collection was $12,750 ($15,300 IBP) achieved for an undated pair of mahogany leather upholstered wing back armchairs, (Lot 276 ) estimated at $5,000 - 8,000.
Also chased was an unsigned marble sculpture of a young woman and dog with no pedestal (Lot 297 ) standing 101 cm high, which exceeded the estimate of $2000 – 4000 by a factor of three, selling for $11,500 ($13,800 IBP)
This compared with $13,000 ($15,600 IBP) paid for each of two signed larger marble figures on the previous night, of a boy with a goat (height 102 cm) (Lot 274 ) and a young girl with a bird (lot 225) (height 138 cm), each standing on an ornate green marble pedestal.
The strong bidding for Charles Lloyd Jones Collection carried through to the 36 lots of Australian furniture and decorative arts, where the lot following the Charles McLean sideboard, an Australian cedar and specimen wood sideboard (Lot 312 ) sold for four times the upper estimate of $6,000 – 8,000 at $32,000 ($38,400 IBP).
Buyer 714 was prepared to bid strongly to secure 5 or 6 items of Australiana including $18,000 ($21,600 IBP) for a bird's eye huon pine writing box, circa 1885, (Lot 344 ) estimated at $4,000 – 6,000.
The same buyer purchased an Australian emu egg casket with gilded and silver plate mounts (Lot 347 ) for $20,000 ($22,000 IBP) which was estimated at $4,000 – 6,000.
The Australian section achieved a sale rate of 80% by number and 102% by value.
The heat came off the sale when the silver and furniture was offered with sell through rates of 65% and 66% respectively.
Highest price in the silver section was for an Irish silver freedom box (Lot 356 ) by Alexander Ticknell, circa 1770, which sold for $19,500 ($23,400 IBP) against an estimate of $8,000 – 12,000, also the highest estimated lot in the silver section.
A sterling silver commemorative chalice, depicting an Australian scene (Lot 348 ) with an inscription linking it to Deniliquin sold for $13,500 ($16,200 IBP) well above the estimate of $4,000 – 6,000.
Included with the furniture was a Steinway rosewood baby grand duo-art pianola reproducing piano (lot 517) which sold for $30,000, ($36,000 IBP) easily surpassing the estimate of $8,000 – 12,000
The single collectors car in the auction, a 1912 two seat De Dion Bouton, (Lot 389 ) estimated at $40,000 – 60,000 failed to find a buyer, as did two of three numberplates which followed it.
Overall a fillip to the market and pleasing result for Sotheby’s, other auction houses and dealers who depend on this segment of the market.