The Art Newspaper

Trio of Manhattan design sales spark some fireworks

Though there were some damp squibs too, like an Eileen Gray lacquered chair that failed to sell

By Brook S. Mason. Web only
Published online: 15 December 2010

This Ruhlmann "Ventru" ebony veneer sideboard from 1929 sold for $1.5m against an estimate of $150,000-$250,000

new york. Christie’s, Sotheby’s and Phillips design sales, held between 14 to 16 December, were stronger than last year and studded with some sparkling prices. Phillips surprised with its success, but Sotheby’s stole the limelight.

Christie’s

Christie’s totalled $16.79m (est $16.4-$23.7m), an increase on last year’s $15m result. The single-owner of works from the collection of former scrap-metal dealer turned gallerist, Tony Delorenzo on December 14 realized $8.5m (est in excess of $10m). Steep estimates and reserves made for high buy-in rates with 67% sold by lot and 69% by value, but works including a 1919 Eileen Gray lacquered chair (est $2m-$3m) did not sell.

Meanwhile, the advisory duo of Christie’s veterans Nancy McClelland of Manhattan and Lars Rachen, now based in Basel, honed in on Armand Rateau furnishings. Rachen pounced on both his 1922 bronze torchère, which sold for $1.1m (est $700,000-$1m) and a 1919 bronze chair, which went for $2m (est $1.5m-$2m)—Delorenzo had bought at Christie's in 2007 for $2m.

Christie's day sale made $2.7m and Tiffany lots proved popular, making $5.5m, with 84% sold by lot and 89% by value. Tiffany Studios' Peony glass window made $962,500 (est $100,000-$150,000). “Now we’re seeing new buyers in western Europe for top Tiffany,” said Joshua Holderman, Christie’s design specialist.

Phillips de Pury

The following day, Phillips design sale, held in their new Park Avenue quarters, was the breakout surprise. It made $7.1m (est $7-$9.5 million)—their highest ever total for a design sale, with 74% sold by value and 73% by lot. The sale set 16 records for works by designers including Charlotte Perriand and Poul Henningsen. The equivalent auction last year made $3.6m.

Bidding for lighting was brisk. A Flavio Poll glass chandelier from the Hotel Bristol, Merano, Italy, sold for an impressive $434,500.

“Buyers were highly international,” said Alexander Payne, Phillips design head. Korean born and relatively new New York based design dealer, Jaewoong Chung, went on a shopping spree with purchases including a Ruhlmann upholstered arm chair for $290,500 and a Charlotte Perriand sideboard at $266,500. “I’m still starting out and was buying for inventory as well as Park Avenue and Seoul clients, too,” said Chung, who is married to Chelsea contemporary dealer Tina Kim.

Sotheby's

Sotheby’s totalled a hefty $19.1m (est $13.9m-$20.5m) for their sale on 16 December—almost double the $10m made in 2009. Buoying their bottom line was a rare Ruhlmann furniture commission that ticked all the right boxes: recently rediscovered, from a single family, and locked away in storage for decades.

The nine-lot collection made $6m ($1.6m-$2.4m). “It all went to an Asian client except the bed,” said James Zemaitis, who headed up Sotheby’s design until early December, and has now moved to Business Development within the same department. Prices for Ruhlmann were breathtaking. Tony Delorenzo was bidding with his newly earned cash, but dropped out in the face of such stiff new competition from the East.

The sale was not all a success as a Greene & Greene desk and chair made for Standard Oil heir Charles Pratt failed to sell (est in the range of $4m). But, bidding for Tiffany glass was frenzied. Rachen bought a 1902 Grape table lamp for $1.2m (est. $400,000-$600,000). “It is going to a client with multiple homes, but it will not remain in this country,” said Rachen, demonstrating the shift in taste as international buyers will now spent vast sums for Tiffany lamps—once derided as garish taste.