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Auction PR Publicity Announcements News and Information

Bonhams & Butterfields to Offer Historic Gold Collection

Bonhams & Butterfields is delighted to offer the distinguished William and Marian Ghidotti Foundation Gold Collection in its upcoming Natural History auction on December 7 & 8, 2008 in Los Angeles. Initially accumulated over a 50-year period by owners of the famous “Original Sixteen to One Mine,” the collection’s legacy harkens back to the historic California Gold Rush of the 19th century. Additionally, it represents William Ghidotti’s legendary philanthropic vision as a Californian.

gold.jpgA renowned collector, William Ghidotti’s name is intimately linked to the history of Nevada County, California, where, among other philanthropic projects, he and his wife Marian Ghidotti devoted themselves to the improvement of education in the region. Mr. Ghidotti’s acquisition of the acclaimed gold collection followed his discovery of an advertisement in the classified section of a San Francisco newspaper in June of 1965. The ad read: “To be sold. 25 beautiful irreplaceable quartz and gold specimens suitable for museum or private display.” A simple announcement, but beneath the modest offer lay the heartbreaking story of the decline in the fortunes of one of California’s most acclaimed gold mines, the “Original Sixteen to One Mine” of Alleghany. The mine was faced with such rapidly increasing operating costs in the mid-20th century that the owners were forced to sacrifice their collection of choice showpiece nuggets.

Interestingly, the gold mining company sold the collection of natural gold specimens for 400% more than if the gold and crystal had been crushed and sold as bullion, illustrating the profitability in collecting gold specimens of historical importance and aesthetic appeal. Offered publicly for the first time since 1965, more than 20-lots of gold specimens, weighing a total of approximately 230 troy ounces, come to auction in Los Angeles.

Top lots within the collection include a specimen weighing more than 36 troy ounces described as magnificent, displaying distinct perfect cubes (est. $125/150,000).

Another lot maintains a mass of large outstanding gold crystals, weighing more than 35-ounces, estimated at $100/125,000. Considered a rare find is a gold slickenside specimen. Slickenslide refers to a specimen displaying a vein of gold growing through quartz, the offered example weighs more than 36-ounces, with multiple veins and blue quartz seen beneath the layers of gold (est. $60/70,000).

This extraordinary private collection not only represents William Ghidotti’s deep and abiding passion for this distinctive precious metal, its sale will now become the means to continue the Ghidotti Foundation’s funding of college scholarships, reflecting the original collector’s philanthropic spirit.

In addition to the William and Marian Ghidotti Foundation Gold Collection, a selection of gold in quartz cabochons and mounted rings from the famed “Sixteen to One Mine” will also be featured, one examples is a gentleman’s ring adorned with diamonds and gold in quartz, estimated to bring as much as $1,500.

According to Department Co- Director Thomas Lindgren, “This is the largest section of gold Bonhams & Butterfields has offered in its Natural History sales since the 1994 auction of specimens from the ‘Sixteen to One Mine.’ We are pleased to offer such a rare assortment to the public.”

Other gold highlights offered in December will include approximately fifty lots of nuggets and specimens from around the globe, including examples found in Brazil, Australia, Alaska as well as several counties in California. Highlighting the selection is an Eagle’s Nest Mine gold specimen in a shape similar to a seahorse and a crystallized gold specimen more than three-inches high which could bring as much as $30,000.

Property of a San Diego Collector will also be featured with estimates starting at $500. Marquee lots from the collection will include a selection of three crystallized Australian gold specimens and a crystallized gold in quartz and leaf gold specimen from Nevada County, as well as placer gold from the North Fork of the Yuba River, Sierra County.

As long-time pioneers in this collecting category, the Natural History Department at Bonhams & Butterfields, under the guidance of Thomas Lindgren and Claudia Florian G.J.G, has expanded the strict association with million-year old remnants of plant and animal life or extraordinary mineral specimens, to include rare and unique objects d’art, exquisite jewelry and wearable gemstones, as well as exceptional décor. Auction previews open to collectors on December 5th and continue daily in Los Angeles from 10am-5pm until the start of the two-day auction. The illustrated catalog will be available online in the weeks preceding the sale at www.bonhams.com/us.