“This is a reflection of their growing economies and is shown in the prices we obtained for two Asian collections – one owned by former Sydney art dealer Andrew Stuart-Robertson,” he said. “He gave it up 15 years ago because the market then was very tough.”
Since then, Mossgreen has become the market leader in Asian art with many mainland Chinese buyers attracted to its auctions. This time, buyers went over the top – paying massive prices for items quoted at low estimates in the auction catalogue.
For example, a large 20th century Chinese Hu-shaped vase – (Lot 1016) - that carried a $600-$900 estimate sold for $20,315. Likewise, a very rare late Ming Dynasty Chinese bronze censor and stand (Lot 1068 ) with a $4,000-$6,000 estimate changed hands for $32,000.
Another good example was a large 18th century gilt copper repousse seated figure of a Lama (Lot 977 ), estimated at $8,000-$10,000, which sold for $16,132.50. A massive late Qing Dynasty mille-fleur vase (Lot 986 ) was almost as impressive, selling for $13,145 on a $6000-$8000 estimate.
Other items fared almost as well. A 17th century bronze tripod censor (Lot 1036 ),with a $900-$1000 estimate, sold for $6000 while a Ming dynasty Chinese bronze weight (Lot 1018 ) with an estimate of $400-$600 was snapped up for $3585.
Results for European antiques were not as spectacular – most selling within the estimate range – leading Paul Sumner to comment that there had never been a better time to buy. An exception was lot 260, a fine and important George I walnut and parcel gilt bureau bookcase, which changed hands for $125,000 – still below its catalogue estimate of $150,000.
“At the end of the Autumn auction series (June 20 with the auctioning of Sydney’s Werrington House contents) our sales will be about $2.6 million – 65 percent of what we estimated – and we are very happy with that,” he said.