Internet bidding was made available through www.artfact.com. This method of bidding went quickly and smoothly with less than 10 lots contested in this manner. However bidding over the phones was fast and furious and a little more chaotic. Leonard Joel had stopped taking phone bidding requests sometime before the sale as they were fully committed, even with extra staff on the phones.
Even with all the bidding avenues available, many items were passed in or referred.
Of particular interest was an 1852 22ct gold coin from the Assay Office of Adelaide converted to a pendant (Lot 187).
It was knocked down to delighted Ian Armstrong OAM, Patron of the Victorian Antique Dealers Guild for $1,800 against a presale estimate of $500-$700.
The 1852 Adelaide pound was the first coinage made in Australia and hence very collectable.
Book price for an Adelaide pound in Fine condition is $8,000, Very fine $18,000, Extremely Fine $50,000, Uncirculated $180,000 and Choice Uncirculated $265,000.
The buyer said he would send the pendant off to his jeweller who would meticulously restore the piece back to a coin using a microscop, and shunned the idea of selling the coin on for a profit, and said that he was thrilled to keep it as part of his ever-growing collection.
A gem set butterfly bangle (Lot 67) saw feverish bidding to reach $3,800 (estimate $3000-$3800), while an Australian ship brooch by Dunklings in its original box (Lot 38) went to a phone bidder for $800, over its higher estimate of $600.
Other successes included a Cartier elephant brooch fetching a hammer of $10,000 to against an estimate of $5,000-$5,500.
A Cartier snake necklace from the 1950’s (Lot 216) pictured on the front cover of the catalogue, but erroneously omitted from the catalogue was knocked down for $26,000 against a pre sale estimate of $2,500-3,000, with the saleroom applauding the successful bidder.
Surprisingly not all the Cartier items sold. The Georg Jensen items did all sell and the most successful piece was an unusual necklace Lot 380, designed by Astrid Frog. It went for $5,000 against an estimate of $1,000-$1,200 after bids from the room, and internet and phone bidding.
There were also some bargains to be had.
A 6.77ct diamond was knocked down to a very happy bidder in the room for $32,000 against an estimate of $38,000-$42,000.
Current prices for larger diamonds and coloured gemstones are increasing rapidly, with reports of increases of up to 30% for diamonds over 2 carats in weight. The drivers to the increase are unrest in the Middle East, spurring people to put their wealth into transportable assets, and the emerging wealth in the Chinese and Indian markets.
If the jewellery sales lacked lustre and reflected the current sluggish retail climate, the new venture with Luxury Items was successful. Lot 387, was a Birkin handbag by Hermes.
Birkin bags have been made more fashionable by celebrities such as Victoria Beckham, and according to Huffingtonpost.com the Birkin bag has up to a two year waiting list. The Birkin bag in the sale sold for $10,000 (estimate $5,000 - $7,000) to the owner of the prestigious Miss Louise shoe shop in Melbourne, as did several other Hermes bags.
Louis Vuitton luggage also sold well to collectors. “It’s far to heavy to use as luggage and would be ruined by airport porters throwing it around” said one buyer. Instead today they used as coffee tables or even fitted out as bookcases and used as decorative functional pieces.
Leonard Joel will continue testing the market with an auction of Pre-Owned Designer Clothing, Accessories & Furs on this Thursday the 7th of April at 10.30am. It is a wonderful selection, mostly drawn form a single collection.