Decorative Arts and Carpets Auction from the Corcoran Gallery Takes $7,328,713

. November 26, 2009

The 500 Years: Decorative Arts Europe including carpets from the Corcoran Gallery of Art sale realized $7,328,713/£4,441,644/ €4,918,599 and was sold 75% by lot and 82% by value.

Stefan Kist, Christie’s New York, Director of European Decorative Arts said: “Today’s inaugural sale of 500 Years: Decorative Arts Europe, which combined European and English furniture, ceramics, works of art, tapestries and sculptures including Oriental carpets from the 15th to the 19th centuries, achieved outstanding results in every category. Our clients responded enthusiastically to this new sale format, and both the view and saleroom showed a markedly increased interest in this field. The most sought after examples of superb quality and excellent provenance generated competitive bidding with many lots realizing prices in excess of their estimates. The extreme rarity of the carpets from the Corcoran Gallery of Art ensured that there was international interest from dealers and private buyers achieving results beyond expectations. Encouraging estimates brought new and established buyers into the saleroom and delivered great results, such as the Chinese export lacquer bureau cabinet and the pair of Italian gilt and patinated bronze and verde antico marble jardinières, as well as the Meissen porcelain mating doves, which sold for $60,000. We are looking forward to the next sales in London and Paris in December as well as our next sale in New York in April 2010, which will follow the same format.”

Jan David Winitz, founder/president of Claremont Rug Company said, “As we saw last month at the Sotheby’s sale, art-level Oriental rugs are realizing significant prices, with pieces in the Christie’s sale consistently selling above their estimates, often 2-3 times over the high range prediction.

“I also noted that while many were historical rugs from the 17th century that collectible 19th century carpets also confirmed recent trends, selling at more than twice the high estimates.

“At the Gallery we are seeing an enormous interest in the best 19th century rugs from our connoisseur-level clients who are increasingly purchasing pieces to hang as ‘wall art.’ At the same time, we have been receiving inquiries from around the world from collectors of other traditional art (paintings, sculpture and furniture) who are enthusiastic to enter the rug mileu.

“These two auctions substantiate what we have been telling our clients for the past decade. My conversations with collectors increasingly involve discussions of creating ‘rug cellars’ and building of private inventories.”

Category: Auction News

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