The Graham Geddes Collection of Important Antiques & Objects comprised 1836 lots sold by Leonard Joel over three days, from Saturday 15 September to Monday 17 September 2012.
However the similarities ended there.
The Owston collection had all the features needed to create a buzz: an auction house (Bonhams) holding its first auction in Australia, and out to create an impression; a pre-auction cocktail party at the Sydney Opera House; creatively displayed lots in Sydney's Overseas Passenger Terminal overlooking the harbour; newspaper photographs of Warren Anderson dejectedly viewing the sale and more press about third party claims to some of the items.
What's more, all the goods were fresh to market, most having been purchased overseas by Warren Anderson as his personal collection.
The result was that the Owston sale grossed $10.8 million hammer, $12.9 million with buyers premium, which was almost double its lower estimates, with 98% of the lots finding new homes.
Despite extensive marketing by Leonard Joel, the Graham Geddes Collection never developed the same aura.
Inspection was in the crowded Graham Geddes premises with the sale being conducted at Leonard Joel's auction rooms in South Yarra .
The lots on offer reflected the travels of Graham Geddes over the past four decades, with items from Britain , France , Italy , Morocco , Spain , India , and China .
Attendance at the sale fluctuated over the three days but there were always seats available in the two-thirds of the Leonard Room where the sale was held. (About one-third of the seating was partitioned off).
Although the sale title was "..Important Antiques And Objects" probably only one in four of the items offered had any age. The balance were what would be called today "decorator items", very good quality copies in the style of the original.
Notable by their absence were interior decorators, who often prefer to guide their clients into a copy rather than an original, often because an original is not available. Also absent were dealers whose numbers and buying power have shrunk because of inroads into the retail market by the auction houses.
Dealers would have little incentive to attend, as unlike to sale of the Owston Collection, the stock was not fresh to the market, some of the items having been on display in the High Street store for many years.
To spread the 1800 lot workload, the Leonard Joel auctioneers were supplemented by hammers for hire, art dealer and Deutscher and Hackett auctioneer Scott Livesey, and former Christie's Australia Managing Director, Roger McIlroy.
Graham Geddes has acknowledged his previous flirtations with a range of auction houses, saying that "it is common knowledge that over the years I have dabbled with various auction houses that have assisted me with aspects of my collection”, although it has been a while since he auctioned off furniture and decorative items.
His last auction offering (although not offered as a single owner collection) was at Bonhams London in October 2008 where he offered part of his antiquities collection (about 150 lots). The lots included an 1,800 year old Roman bust with an uncanny resemblance to Elvis Presley when viewed from the side.
For Roger McIlroy his time on the podium must have seemed like groundhog day as it was he who presided over the Christie's October 1996 sale of The Graham Geddes Collection of furniture, sculpture, ceramics, tapestries and Greek and Roman antiquities in the Darling Street auction rooms.
The end result of the Leonard Joel sale was a sale total of $1.5 million hammer ($1.8 million including BP) against low/high estimates of $7.6 to 10.6 million with 26% of the lots sold by number.
john Albrecht, Managing Director of Leonard Joel commented: "Graham and I wanted a 2M plus result and we got one so I am over the moon - Leonard Joel has not sold that many high-value antiques in one auction for a decade at least ... "
Overall 66% of the lots were sold at a hammer price below the low estimate, another 14% were sold at the low estimate and 20% sold at a hammer price above the low estimate.
The cover lot, an important Italian painted, ivory inlaid ebony and ebonised cabinet, (Lot 190 ) with an estimate of $46,000-55,000 was unsold.
Also unsold were two tapestries, the Interpretation of the Victim, after the antique ( Lot 487) estimated at $50,000-60,000 and a fine Gobelins woven mythological wall tapestry late 17th / early 18th century (Lot 490 ) estimated at $45,000-65,000.
The highest price in sale was achieved for an 18th century Danish gilt metal mounted walnut, marquetry and parcel gilt bureau attributed to Matthias Ortmann, Copenhagen, (Lot 150 ) which sold for the low estimate of $50,000 hammer ($60,000 IBP).
The vendor was prepared to quit items below the low estimate, in some cases by a large amount.
An Italian polychrome painted bureau, reputed to have been owned by A. A Milne sold for $35,000 ($42,000 IBP) well below the low estimate of $50,000 while an important 19th century Florentine marble statue depicting Ariadne on the Panther (Lot 411 ) sold for $28,000 hammer ($33,600 IBP) against the estimate of $36,000-42,000.
Amongst the furniture, an important neo Gothic mahogany breakfront library bookcase (Lot 270 ) estimated at $48,000-65,000 went unsold, as did an important Italian painted, ivory inlaid ebony and ebonised cabinet, circa 1860, (Lot 190 ) estimated at $46,000-55,000 and an important Louis XV period kingwood gilt bronze mounted commode by Francois Fleury (Lot 360 ) $42,000-62,000.
Some items did sell above the high estimate, including a rare rectangular cocuswood side table, late 17th/early 18th century with oyster veneered top (Lot 375 ) which sold for $28,000 hammer ($33,600 IBP) almost double the high estimate of $18,000.
A pair of Italian painted terracotta allegorical figures, representing Autumn and Spring, after the original models by Canova (Lot 510 ) achieved a good result, selling for $35,000 hammer ($42,000 IBP) $3,000 above the high estimate while a French cast iron statue of Daniel, with a foundry mark J. J. Ducel of Paris, (lot 1427) sold for $26,000 (hammer) $31,200 IBP, $6,000 above the high estimate
Although the Chinese market has boomed over the last three years , the overall results in this sale were dragged down by the final session of the sale, the Oriental section where 9% of the lots by number and 8% of the lots by value were sold, raising $116,000 hammer ($140,000 IBP) against the low/high estimates of $1.6 to $2.2 million.
The highest priced lot in the Oriental section was a Chinese globular vase, the spherical base with tubular neck decorated with bold peach branches (lot 1723) which sold for $14,000 hammer ($16,800 IBP), $10,400 over the high estimate of $3,600.
Important unsold lots in the oriental section of the sale were a Northern Wei period stone figure of the Preaching Buddha, (lot 1580) estimated at $110,000-$120,000, a Northern Wei period stone standing figure of a Bodhisattva, 5th century A. D, (lot 1790) estimated at $80,000-100,000 and another Northern Wei period stone standing torso of a Bodhisattva, 5th century A. D, (lot 1635) estimated at $50,000-60,000
Also unsold was a Khmer carved sandstone torso of a Bodhisattva, 13th century, (lot 1800) $40,000-50,000.
Subsequent to the sale Leonard Joel announced that remaining items would be available for four days at a 20% reduction off low estimate, plus the 20% buyers premium.