Chopard jewellery

Chopard

 

Chopard has recently stepped into the spotlight as the official sponsors of the latest James Bond movie ‘No Time To Die’. Caroline Scheufele, the Artistic Director and Co President of the much loved brand, has designed a collection that embodies her vision of the modern ‘Bond girl’ and represents courage and determination. It is called The Happy Hearts Golden Hearts Collection and it is a limited edition of 7007 pieces. She has taken the classic ‘Happy Hearts’ and filled some of the usually openwork hearts with ethically mined rose gold, as well as adding the famous 007 logo.

In 1860 Louis Ulysse Chopard founded the luxury brand in Switzerland. He was a watch maker and gained a strong reputation with his innovative designs which took him overseas to such places as the court of Tsar Nicholas II in Russia. The company continued to thrive as it was passed down through the Chopard generations to Paul Louis and onto Paul Andre. However after the war the company met with challenging times, coupled with the fact that there was little interest from the next generation to continue the family business. Hence in 1963 Paul Andre sold the faltering brand to the Scheufele family, jewellers and watchmakers in Germany. Following on the tradition, they too have passed the company through the family generations, strengthening the brand and building the mighty Chopard empire that we know today. The current Company Presidents Caroline and Karl Fiedrich are a brother and sister team. Caroline has had a massive influence in developing the ladies collections, in particular their high end jewellery. While her brother has developed the gentlemen’s collections and the Chopard sports watches.

One of Caroline’s visions was to create gemstone masterpieces but without sight of the settings. She and her team created the magnificent ‘Magical Setting Collection’ which enhances the gems interaction with light, producing a magnificent sparkle because of the innovative setting technique

‘Happy Diamonds’ are perhaps the most famous Chopard collection. The free moving diamond collets dance freely within their transparent surround, symbolising freedom and a real ‘joie de vivre’. Their strapline being ‘little diamonds do great things’.

The Chopard brand is certainly doing ‘great things’ when it comes to ethical and responsible business practices. In 2013 they launched ‘The Journey to Sustainable Luxury’ which prioritises responsible sourcing of raw materials, environmental management and investment in people and local communities. The James Bond Collection is made using sustainably mined materials. The gold is mined by small scale operations that guarantee that the gold is extracted in an environmentally and ethically responsible way.
The necklace pictured above currently retails at £6,520. As with all luxury jewellery brands the prices continue to rise. When was the last time your jewellery was professionally appraised? Is your insurance cover adequate in the event of a claim?

Corona and the Art World

 

It was only when humans ceased to be hunter gatherers, began to domesticate animals and settled down to live in large communities that it became worth the while of viruses to jump from animals to humans. They have certainly got the hang of it now.

With the latest virus (Covid 19) now attacking all continents bar Antartica, governments in Switzerland and France have banned gatherings of more than 1,000 people for the former and 5,000 for the latter. Many other countries will doubtless follow suit.

This is going to have an enormous impact on all businesses and life in general. The Art World has already felt the first effects. Art Basel Hong Kong has been cancelled, as has the Art Fair in Parma and Beijing’s Jingart Fair. The Design Fair in Milan, Salon de Mobile, has been pushed back from April to June and Baselworld Watch Fair, scheduled to take place in January, is now chalked in for April. Sotheby’s have switched sales from Hong Kong to New York and Bonhams have cancelled their March sales in Hong Kong altogether.

All Museums in Hong Kong and mainland China are shut, as they are in Northern Italy. With people in China being encouraged to work from home, supply chains have been severely disrupted and this will soon affect the whole world.

The major problem with Covid 19 is that for many people the symptoms are so mild they are undetectable, so these infectious people are on the loose unknowingly spreading the disease. It cannot be contained now, with one epidemiologist suggesting that between 40% and 70% of the world will have the virus by the end of the year. Who can tell what this will mean to the world economy? Nothing good, that’s for sure.

Stay well and I hope to be able to write about the Art World again soon. If you don’t hear from me, you know why…

Rembrandt to Richter

Ben Hanly on the Unusual Format of Sotheby’s Forthcoming ‘Rembrandt to Richter’ Sale

No doubt influenced by their hugely successful gamble in 2017 to sell Leonardo da Vinci’s Salvator Mundi in their Post War and Contemporary sale rather than in its traditional Old Masters setting, Sotheby’s has decided to take a similar approach this month with its much lauded summer auction – From Rembrandt to Richter.

On 28th July Sotheby’s breaks with auction tradition and showcases the finest quality works from all periods within a single sale – their rational being that quality transcends chronological period, and that the traditional auction categories are now unnecessary at the top end of the market. Behind this laudable aesthetic judgement lies solid business acumen – Sotheby’s, along with all the major auctions houses, are very keen to expand audiences for the less hyped markets they represent, and to entice cash rich, young contemporary collectors to consider purchases in more traditional areas. What better way of doing this than putting a major Gerard Richter Triptych (Wolken) along side one of the last Rembrandt Self Portraits remaining in private hands – the idea being that if they looks great at Sotheby’s, why wouldn’t they look great in a collector’s home.

Only time will tell whether this gamble pays off, but it’s hard to see how it can fail with so many beautiful works on offer. One thing is for sure, the sale’s key lot – Rembrandt’s Self Portrait, estimated at £12-16m, is expected to achieve a very strong price, solidly in the £20m region. Bearing in mind the iconic nature of this work, even the expected bullish price in the £20s clearly illustrates the relative value of buying in alternative areas of the market in comparison to the staggering prices achieved at the top end of the Contemporary market.
Download the From Rembrandt to Richter article here

Private Libraries, Old and New

A magnificent library was an integral feature of the country house in both 18th-century England and continental Europe. As much as the pictures, sculptures and lavish furnishings, the array of gilt spines was calculated to impress the visitor, providing opportunities for conversation as well as solitary reading. Volumes come in all sizes and may have been carefully collected or bought by the yard. Past sales may have depleted the collection, even though the shelves look well stocked.

Horace Walpole’s gothic library at Strawberry Hill, ink and wash, published 1784.

However striking their effect when massed together, books are individuals. To appraise the value of each one means checking the date, giving a nod to the author and assessing the market interest. Books printed before 1501, forming part of the history of incunabula, possess great potential. If the author of a rare pamphlet proves to be Daniel Defoe, its attraction is immediately doubled or even quadrupled. A common enough text may have been beautifully illustrated or issued by a famous press. Provenance or marks of ownership may exist in the form of an inscription or bookplate, or as a coat-of-arms on the binding. Association with a well-known historical figure or derivation from a famous collection can push up a book’s value enormously, and then there is its basic feel. Is it in a good state? Is the binding attractive? Does it appeal aesthetically?

A relatively late edition (1759) of Milton’s Paradise Lost, of value primarily because it bears the imprint of John Baskerville, Birmingham.

In a big library much of the value may lie in a comparatively small percentage of the books. Whether it be of classical works or native authors such as Milton, Swift, Pope and Gibbon, the reprint element is usually large. Classical works printed after the Renaissance, literary sets and periodicals of the 18th and 19th century, are valued chiefly as shelf fillers — for what pleases the eye rather than the content inside. The Gentleman’s Magazine, which first appeared in January 1731 and continued up to 1922, is probably the most interesting of the literary periodicals. Samuel Johnson contributed to it from the late 1730s to mid 1740s, George Eliot used it to research Adam Bede, it contains maps and plates, but the average auction value per volume is unlikely to be above £30.

Title-page to an early number of The Gentleman’s Magazine, printed by Edward Cave (“Sylvanus Urban”) at St. John’s Gate, Clerkenwell.

With plate books, size really counts. Hefty atlases, engravings or lithographs in magnificent quartos or folios, will contribute in a major way to a library’s financial worth. One would expect to find art and architecture, natural history, horticulture and sport among the topics represented, as they are all connected with the life of a country house. Younger sons often travelled the globe and accounts of foreign travel also have strong potential. The first half of the 19th-century was the great age of the colour plate book. If the most magnificent flower book is Redoute’s Les Roses, John Gould is undoubtedly the colossus of bird books. My personal favourite is his Birds of Australia, published in 36 parts between 1840 and 1848, and bound in 8 enormous folio volumes. The work describes all 681 Australian bird varieties then known (a 5-part supplement was added in 1869).

Title-page to part one of the Heber sale whose duration was 26 days. The books sold for an average of only 15 shillings per lot.

Not every 18th- or early 19th-century collection was ostentatiously bound and displayed. Richard Heber (1773-1833) succeeded in amassing some 120,000 volumes, sold on his death in 13 sales spread over three years, with further auctions on the continent. This famous bibliophile, motivated by what Thomas Dibdin called “an ungovernable passion,” gave no thought to presentation. On first visiting his home in Pimlico, Dibdin was dismayed to see “‘rooms, cupboards, passages, and corridors, so choked, so suffocated with books.’” The lack of arrangement was even worse at Heber’s house in Westminster. At 10,000 volumes, the library in his country house, Hodnet Hall in Shropshire, was relatively small in size. But there were also several massive depositories of his books in foreign cities.

A copy of Claude Perrault’s 2-volume Histoire naturelle des animaux (Paris, 1671-76) in a presentation binding of red morocco impressed with the gilt arms of Louis XIV.

Heber’s “‘inveterate opponent in book battles’”, William Beckford, was appalled by such squalor, arguing that it would be better to burn the great mass of “‘filthy, moulding, overwhelming heaps’” than attempt to sell them. Remarkably, the second Heber sale included almost 50 Shakespeare quartos. On the other hand, there were many books ‘picked up for sixpence or a shilling and whose resale value was practically nil’ (see Arnold Hunt, ‘The Sale of Richard Heber’s Library’, in Under the Hammer: Book Auctions since the Seventeenth Century, edited by Robin Myers, 2001, pp. 143-169).

Samuel Johnson, oil portrait by Joshua Reynolds. As a lowly paid hack writer, Johnson contributed to the Gentleman’s Magazine before publishing his great work of lexicography in 1755.

A modern antiquarian library is likely to have less variety of theme than the calf gilt library of former times, catering for many tastes. The limitations on space are much bigger today, with the result that collections are in general smaller and with a greater tendency to be specialist. However, “high spot” collecting can lead to the crossing of traditional boundaries. A high spot collector won’t accumulate any subject in depth, but he or she will focus on the high spots, the collecting peaks of many different ranges. A Samuel Johnson fan is likely to have an interest in acquiring all or most of his works, whereas a high spot collector might only want a first edition of the dictionary (1755) and nothing else. Ironically, it is the cheaper books rather than the more expensive ones which are becoming harder to sell. The first edition of Newton’s Philosophiae naturalis principia mathematica (London, 1687) offered for sale at Christie’s New York on 14 December 2016 was not bound in the usual contemporary calf but in superbly tooled red goatskin intended for presentation. Competition for the copy was intense, it had not only high spot but iconic status, and it was finally hammered down for a world record price of $3,100,000.

Rosa centifolia, etched plate from Pierre Joseph Redoute’s Les Roses (3 volumes, Paris, 1817-1824), printed in colour and finished by hand.

Most modern collections are dispersed on a bibliophile’s death, if not sold within his or her lifetime. Collectors get to feel that they have reached the natural limit of their specialism or that they must settle matters for heirs who prefer receiving money to books they can’t appreciate. These sales are often stirring occasions. But the longer the period that a collection can remain unbroken, the more of a phenomenon it is likely to be in the saleroom.

 Estelle Doheny, the American bibliophile and philanthropist, was born in Philadelphia in 1875, then moved to Los Angeles with her German immigrant parents in 1890.

Carrie Estelle Doheny (1875-1958), born Betzold, was one of the most renowned American book collectors of the 20th century, and that rare being, a female bibliophile. She met her husband, the Californian oil man Edward Lawrence Doheny, in 1899 while working as a telephone operator for his company. The collection she began forming in relative middle-age was quite closely connected to her beliefs as a devout Catholic (she was created a papal countess in 1939). It grew to some 7000 books and 1300 manuscripts, meriting a 3-volume catalogue published 1940-1955. First given to St. John’s seminary in Camarillo, the collection was eventually sold by Christie’s New York in 6 catalogues 1987 to 1989, slightly over a century after her birth; it made proceeds of nearly $38 million dollars, with volume I of the Gutenberg Bible alone making $5 million.

A page of the “Gutenberg Bible” (Mainz: Johann Gutenberg and Johann Fust, 1455) as illustrated in the catalogue of the Estelle Doheny Collection, Part 1, lot 1, Christie’s New York, 22 October 1987

Of much older origins still was the scientific library of the Earls of Macclesfield, removed from Shirburne Castle and sold by Sotheby’s in 12 parts, 2004-2008. This collection derived from the library of William Jones (1675-1749) and was put together almost exclusively in the 18th century; its 2300 works realised the staggering figure of over £20 million.

Call us today to enquire about an appointment on 01883 722736 or email [email protected] 

Rafael Valls at Sotheby’s

 

You may have read that Rafael Valls, the well-respected St James’s stalwart, is to offer 100 paintings form his eclectic stock at Sotheby’s in London, online, between the 1st – 8th of April. The viewing is terrestrial, but the auction is not.

This is not the first time a sole trader’s stock has come up for auction and single owner sales date back centuries. Sotheby’s has an enviable record in this regard. In October 1991 they had their first sale of the works of a living artist, when David Oxtoby consigned 100 works on paper of musicians of the 1950s to be sold in aid of Nordoff Robbins Music therapy. Next up, in September 2008, was the Damien Hirst sale, which grossed over $200m. Subsequently, most of the top London Antique Furniture dealers consigned their stock to auction, notably Hotspur, Mallet, Phillips and Harris and Pelham Galleries, but this was because their market had almost evaporated.

There are two things that set this sale apart from the above and from the Moretti Mannerlist sale of 2015 and the Otto Naumann retirement sale of 2018. The first is that this is just a small, perhaps toe-in-the-water, tranche of what Rafael Valls holds and the second is that it is online. This must appeal to a younger audience unfamiliar with Old Masters. Furthermore, as we find ourselves in a climate where gatherings are banned, viewing and auctioning a sale in cyber-space helps in maintaining motion within the art world.

Nordoff Robbins Music therapy: www.nordoff-robbins.org.uk

David Hockney Splash

David Hockney

Who would have guessed that at the Sotheby’s Art auction in 2006, provided you had a spare £2.9 million, you could buy a truly iconic 60’s Splash painting by David Hockney, sell it 14 years later via the same auction house and achieve over a 600% net return on your investment!

Gaugin’s Chair (1988) sold in New York in 2017 for £6.1 million

This is the story behind Hockney’s painting ‘The Splash’, which comes up for auction again in London next month on Feb 11th. This time it has a £20-£30m estimate – ten times it’s 2006 price tag. The canny vendor has also secured an auction guarantee from a third party, meaning no worries about it selling and no nail biting on auction night. The owner can just sit back, relax and enjoy the show, as whatever happens it’s going to sell. The price achieved back at auction in 2006 was a new world record for Hockney and the Contemporary Art market was steaming ahead. Since then Hockney’s prices have rocketed, and in 2018 Hockney briefly became the most expensive living artist at auction, pushing Jeff Koons out of the top spot with ‘Portrait of an Artist, Pool with Two Figures’ (1972) which sold in NY for £61m.

Portrait of an Artist , Pool with with Two Figures (1972) sold in NY for £61 million

This got me thinking about other Hockney works that had made more than one appearance on the auction block over the last 10-20 years and how they fared.
Gaugin’s Chair from 1988 first appeared at a 1988 Christie’s Lighthouse charity sale and made £160k, it pops up again in 1998 and makes £23.k, then again in in New York in 2017 where it makes a staggering £6.1m!

Picture of a Hollywood Swimming Pool (1964) made £5.5 miliion in New York in 2019

 

Swimming Pool (1965) sold for £1.2 milllion in 2007. In June 2012 it made £2.5 million

‘Picture of a Hollywood Swimming Pool’, from 1964 was first offered from the Stanley Seeger Collection in 2001 when it made £465k. At its next appearance in 2019 in New York it sold for £5.5m.
‘Swimming Pool’ from 1965 first appeared in 2007, when it made £1.2m then it pops up again in June 2012 when it sold for £2.5m.

Different Kinds of Water pouring into a Swimming Pool (1965) sold for £506,000 in New York in 1989. In 2019 it made just over £2.7 million

Another example that shows things don’t always go to plan is that of the other Pool themed picture from 1965 called ‘Different Kinds of Water pouring into a Swimming Pool’. It first comes up in NY in 1989 when it makes £506k; then pops up again in 2018 with a speculative estimate of £6-8m. It fails to sell and then comes up again the following year in 2019, but now with a much more realistic £2.5-3.5m estimate. This time it sells comfortably within the estimate range at just over £2.7m

The Splash (1966) expects to sell for £20-£30 million in London in February 2020

The David Hockney exhibition at Tate Britain in 2017 was a Blockbuster and a total triumph. For me, it acted as a catalyst for the surge in interest in Hockney and his work. ‘Hockney is Tate Britain’s most visited exhibition ever’ was the Tate’s headline after the exhibition ended in 2017. This all-encompassing, totally absorbing, stunningly colourful and magnificent exhibition must surely have stirred everyone who saw it, including me, and no doubt led many major collectors to get in quick before the market runs away from them.

George Condo

George Condo

Of all the figurative painters working today, few if any can match George Condo’s CV for artistic heritage and bragging rights. He worked for Andy Warhol in the ‘Factory’, jammed with and was a friend to Basquiat and now designs albums for Kanye West and handbags for Kim Kardashian.

The Queen, by Condo the work is called ‘Dreams and Nightmares of the Queen’ 2006

Born in Concord, New Hampshire, USA in 1957 Condo’s work spans nearly four decades. He studied Art History and Music at Lowell in Massachusetts before moving to Boston where he worked in a screen-printing shop. He joined a band in Boston called ‘The Girls’, through which he met Basquiat in 1979 while performing on the same bill in his band ‘Gray’. Long story short, Basquiat persuaded Condo to move to NY in 1980 and the rest is history. Condo’s previous screen-printing experience got him the gig in the ‘Factory’ working for Andy Warhol. He worked there for nine months and reportedly only met Warhol once. He was also involved with ‘diamond dusting’ pictures as well as silkscreen-printing. Andy Warhol subsequently bought several paintings from one of Condo’s first NY shows in the early 80’s.

Nude and Forms, the current world record holder, sold at Christie’s NY May 2018, for $6.6 million

Both Warhol and Basquiat where strong artistic influences on Condo’s work at this time. However, over above these two as he emerged as a figurative painter, was and still is, Picasso. A key difference is that unlike Picasso who painted figurative images of real people and things, Condo’s images all emerge from his imagination. In an interview with the Guardian in 2013 he is quoted as saying ‘I describe what I do as Psychological Cubism. Picasso paints the violin from four different perspectives at one moment. I do the same with psychological states; four of them can occur simultaneously. Like glimpsing a bus with one passenger howling over a joke they’re hearing down the phone, someone else asleep, someone else crying – I’ll put them all in one face”.

‘Day of the Idol’ photo courtesy of Sotheby’s, sold twice, Sotheby’s NY May, 2018, $2.7 million , then again at Christie’s NY, November 2019, for $ 3.7 million.

He’s also influenced by old master painters such as Rembrandt and Degas. The colour field and abstract painters such as deKooning and Rothko and will add in elements and colours from these artist’s work into his.

It was Condo who painted Kanye West’s 2013 Christmas gift to Kim – a Hermes Birkin bag featuring three nude women and an angry green monster. Not quite what the couple were expecting, it was once rumoured to have been destroyed. When inevitably it was posted on Instagram, followers were not amused, ‘holy shit balls that’s ugly ‘ said one!

Hermes Birkin exclusive design by George Condo – gifted by Kanye West to Kim Kardashian

Condo moved to Cologne and then Paris where he spent 10 years between 1985 and 1995 remaining entirely focused on imaginary characters until the 2000’s. In 2006 he painted a portrait of the Queen, who has a long neck, gerbil like cheeks and a Crown and he also did the five interchangeable covers for Kanye West’s 2010 album (My Beautiful Dark Twisted Fantasy), one of which appears to depict Kanye naked and straddled by a winged naked female. Prior to this, his imaginary characters would have multiple pairs of eyes, teeth and all sorts of other ‘additions’. Ralph Rugoff, the curator of the 2011 Hayward Gallery Condo retrospective show wrote that Condo’s portraits amounted to an ‘anatomical orgy’.

Red Head sold Philips NY in May 2018 for $ 1.5 million

The Art Market’s response to Condo’s work exploded during the Spring/ Summer sales of 2017 to the same period in 2018. Condo had become perhaps the most coveted artist on the secondary market in those 12 months, thanks to both the tiny quantity of his output and a belief that buying his work was a surefire investment that could or should pay off. Over the 2017/18 period Condo, set and broke his own record at auction three times.

Henry Moore

Henry Moore, Prolific Artist

Henry Moore was born in Castleford in 1898 into a Yorkshire coal mining family. His rather didactic father felt that his children should never follow him into mining and saw education as the way out.

Reclining Figure, Festival 1951
Bronze, 230 cms wide.
Sold in June 2016 for £24,722,500. This is the current world record price for a Moore bronze

Moore had shown an early talent for sculpting and drawing at junior school and had made numerous very creditable pieces from clay and stone. He passed the entrance exam for Castleford Grammar School at the second attempt thus joining some of his siblings already at the school. The wide breadth of subjects taught there exposed him to medieval sculpture which attracted his interest straight away and he was encouraged to study, copy and draw pieces. He was also asked by the Headmaster to carve a School Society plaque and also a roll of honour for pupils who were serving in World War I.

Reclining Figure, 1982
Bronze, 246 cms wide.
Sold for $11,000,000 in Nov 2017

Moore joined the War effort in 1917, very soon after joining he was gassed and subsequently hospitalised until 1918, thus keeping him safely away from any further hostilities. On leaving military service in 1919, he received a servicemen’s grant which gave him enough money to study Fine Art at Leeds School of art. Between them, Leeds Art Gallery and the School of Art gave him easy access to see and study the many Modern works of art in their respective collections. This had a profound effect on Moore’s personal and artistic development and he became strongly influenced by the work of Brancusi, Jacob Epstein, Henri Gaudier Brzeska and Frank Dobson. These influences pulled Moore towards the almost forgotten traditional carving method known as ‘direct carving’ in which the imperfections of the material and marks left by the carving tools, became part of the finished sculpture, the process is referred to by sculptors as ‘truth to material’ . In actively pursuing this method Moore was resurrecting a then nearly four hundred year old carving tradition stretching back to the Old Master sculptors Canova and Bernini.

Mother and child with apple, 1956
Bronze, 72 cms high.
Sold for £5,010,500 in February 2014

Later in his career when casting his sculpture in bronze, Moore found that in his hands bronze was not an antithesis of stone or wood carving: carving, scraping and grating his plaster models allowed him to create texture in his finished bronzes that matched anything he could achieve in his stone or wood pieces. In fact Moore paid great attention to the patination of his bronzes and supervised the process personally whenever possible, especially on large scale works where it is evident that many of his patinas suggested natural textures and weathering.

Large 4 piece reclining figure, 1972
Bronze, 402 cms high.
Sold $3,300,000 June 2006. Since 2006 prices have increased and I would now expect this piece to make nearer to $10 million

Following his studies at Leeds, Moore moved to Hampstead where he took on part time teaching work at the Royal College of Art while continuing working on his sculpture. He later took up another teaching role at the Chelsea College of Art where he began to develop more abstract work.

He was part of the organising committee for the international surrealist exhibition in London in 1936, where Roland Penrose purchased one of his Moore’s new abstract mother and child works, carved in stone. Penrose displayed his new purchase in the front garden of his house in Hampstead, much to the annoyance of the local residents who ran a two year campaign to remove the piece!
In 1938 Moore met Kenneth Clark who championed his work from this first meeting onwards.

Reclining Figure, 1982
Bronze, 246 cms wide.
Sold for £3,625,250 in Feb 2006. Again the value of this piece has risen significantly since 2006, another from the same cast sold for $11,000,000 in 2018

At the outbreak of the Second World War the Chelsea School of Art was evacuated to Northampton, so Moore resigned his teaching post and began working on powerful drawings of Londoners sleeping on the London underground all commissioned by Kenneth Clark, now the Chairman of the War Artists Advisory committee. When the Moores’ Hampstead home was hit by shrapnel Henry and his wife Irina moved to a farmhouse called Hoglands, set within in a hamlet called Perry Green, just outside Much Hadham in Hertfordshire . This house and the surrounding land became a home, studio, gallery, workshops and display area for his work for the rest of his life. Over time his continued financial success in selling work enabled him to acquire adjoining land nearby and buildings for use as studios and exhibition spaces. This large rural site now houses the Henry Moore Foundation galleries and study centre, where you can take a tour of Hoglands, walk the grounds and gardens, and visit the galleries and studios which are all open to the public.

Family Group,1946
Bronze, 44 cms high.
Sold in June 2017 for £3,861,000. In 2008 another from this same edition sold for $4,000,000

After the war, following several miscarriages Irina had a baby daughter, Mary who was born in March 1946. Two years prior Moore had lost his mother and these two events drew him to focus on one of his most successful and enduring themes, the Mother and Child. Also in 1946 he made his first visit to America to attend a major retrospective of his work held at MOMA in New York. This exhibition was a huge critical and popular success and his fame spread rapidly across the US. He was taken on by an art agent in Los Angeles who advised many Hollywood moguls and actors. His work was bought in quantity by Betty Warner, a very wealthy and influential socialite and collector in LA and the wife of Jack Warner of Warner Brothers pictures was also a strong influencer.

Horse
Bronze, 13.8 cms high.
Sold in March 2020 for £32,500. Horses are rare subject matter for Moore bronzes, however I think this piece is elegant and nicely stylised and offered good value at this price

The last 30 years of Moore’s life were his most productive in every sense, he was incredibly busy making, exhibiting and selling work in all mediums, particularly bronze all around the world.

Mother and Child, 1929
Bronze, 10.2 cms high.
Sold for $5,000 in December 2019. This is the cheapest piece you can find, however its perhaps not the prettiest

By the early 1970’s he was making over £1,200,000 a year in income from sales of art alone. He was probably the first British artist of the 20th century to become a millionaire. However the downside was that as a UK tax payer earning this sort of money he was liable to pay 80% tax on his earnings In fact so significant was his tax bill that in 1972 he was publicly declared the single highest individual tax payer in the entire UK. This warranted a visit to Hoglands by the then Chancellor, Jim Callaghan to acknowledge his tax contribution, I noticed a photo taken of this meeting at Hoglands, Jim Callaghan is smiling broadly, however Moore isn’t looking quite so cheerful having just parted with £960,000 in income tax .

Mother and child, Relief, 1977
Bronze, 38.4 cms.
Sold in November 2019 for $10,000. There are a number of relief bronzes smiler to this which, although unusual, do offer good value.

Henry Moore produced a huge quantity of the highest quality work, particularly bronzes and he has a truly international reputation, so his pieces appear for sale around the globe, all the time. On any given day you can find something new coming up for sale somewhere in the world and I show a few examples below. One of the many truly remarkable facts about the Moore market is just how cheap his tiny bronzes are, in fact prices for bronzes range from as little as £5,000 for a small piece right up to £25 million for the largest pieces. In addition peace of mind is offered to buyers by the carefully curated complete catalogue raisonees listing with reference numbers all his bronzes, unique carvings, drawings and prints from all periods.

Caricature head, 1978
Bronze, 10.1 cm high.
Sold in November 2019 for $15,000

Antique Furniture Valuation

A Chair is a Chair is a Chair; Adventures in Antique Furniture Valuation

‘…an extremely fine specimen of design, craftsmanship and preservation. The carving … is of very high quality and the chair is exceptional in that it has survived since about 1750 with the patina of age unspoilt by restoration’


This chair was exhibited at the Grosvenor House Antique Fair (which has now essentially been replaced by Masterpiece) in 1954 and described as such then. Tastes have changed little since then. It is currently for sale at the very top end of the London trade for £39,000 having changed hands several times intervening sixty five years.

What makes it Valuable?

The chair does not conform to the usual obvious or traditional categories which define valuable furniture – such as having a famous designer, illustrious maker, or interesting provenance. However, one interesting current trend, illustrated in this instance, is that reputable antique dealers are increasingly quoted as ‘provenance’ for works of art. Historically this was taken to mean the original patron or location for which something was made. The chair is nevertheless clearly a fine example of an exceptional object by virtue of the quality of its manufacture and its original and obviously very attractive patina, or finish, which justifies its price.
But a lesser example of a superficially similar chair might easily be bought for a fraction of the price – hundreds of pounds, rather than thousands. Whether of the same date or a later reproduction this could be £3,900, £390 or even £39 on a bad day for the auctioneer.

When looking at antique furniture, what is important?

Certainly, the designer, maker, provenance, condition but also the form can be relevant, the latter more so with furniture than most other antiques. People can collect paintings or silver or ceramics to a certain extent without having to worry what to do with their purchases but few homes have rooms for limitless amounts of furniture. Its function and size nearly almost plays a part in its value. For instance, someone may buy a set of dining chairs but this is likely to entail selling their existing set. And the way people live has had a significant effect on demand for, and therefore values of, antique furniture – the dining room being a particular victim of increasingly informal lifestyles.
Some types have undoubtedly suffered more than others. Pieces with sloping or folding or hinged tops which do not lend themselves to having things placed on them, such as bureaus, davenports, pembroke tables, card tables; or very large items such as wardrobes, sideboards, dining tables and some bookcases. Even longcase clocks have found themselves out of fashion. Of course, there are always exceptions to this, as with the chair above, but the trend is undeniable.

Brown Furniture

The phrase one hears as a valuer time and again at the moment is that antique furniture (or ‘brown’ furniture) is worthless today. Of course, this is not true, and I can guarantee that if you want to buy something invariably someone else will. But it is true that some items, if they fall into the above categories and are unattractive do have very depressed values (to the point of being almost valueless). And undoubtedly values of many pieces have fallen from the heady days of the early 1980s, often even without allowing for inflation.
By illustration, this modest Georgian mahogany table was purchased from an extremely high quality antique shop in Edinburgh in 1983 for £1,640.

A Georgian mahogany table purchased in Edinburgh in 1983 for £1,640


The table sold at auction recently for about £450. A poor return by any standard. But it was bought by a dealer, who once it has been restored, may sell it for a similar amount to its 1980s figure. That does, however, leave us with the reality that a 1980s insurance valuation, and this is for a fairly useful and attractive little thing, is likely to have parity with a valuation today.
Other items will not have fared as well.

Insurance Valuations may vary

This also illustrates the importance of understanding where items have been purchased and how a client may replace them. That table may have sold for £450 (which means the vendor probably received about £300) at auction and then be offered, restored, for £1500 in a shop. Neither figure is wrong, it is just the context which has changed. This means that if someone shops at local auctions, replacement valuations will be quite different to those of their neighbour who buys similar pieces from London dealers and valuations for insurance purposes should reflect this.
To summarise, when valuing antique furniture there are numerous forces at play. Not only is the piece beautiful but is it useful? Will it fit and be functional in most peoples’ houses? Is it in good condition, is its finish attractive? Does it have history in terms of designer, maker, provenance? And finally where was it bought and would the owner replace it from a similar source?

Out of the Closet – are your clothes insured adequately?

As a general valuer, I still find it remarkable that the most shut off and private room of the house, is usually the one that hides the biggest mistakes, faux pas, successes, lucky finds – and ultimately valuable items in the property.

The humble wardrobe has for years been the item that comes last in a hierarchy of importance throughout the home – after paintings, sculpture and antiques it would almost seem vulgar to add up those collections of cashmere jumpers and boxed sets of Agent Provocateur underwear that you haven’t quite found the right time for.


So why is the wardrobe often overlooked? One could argue that accumulation plays a big part in this – if a client spends £2000 on a coat, would they contact their broker? Maybe not, but after five years of a new winter warmer every year, that figure starts to rise rapidly…also clothing just being a functional item went out in The Stone Age, clothes have been about style, exclusivity, and quality for centuries and that has created a fairly modern phenomenon – the clothes collector.

Whilst we all have items in the closet that hardly ever get used (for me it is a pair of trainers, used exclusively from January 1st – 7th annually, and a rather ill-advised pale blue suit bought for a garden party in the mid noughties) there are clients of mine that seasonally will spend over £100,000 on clothing and it will only be worn once or twice – this isn’t unusual, and strangely it seems to be becoming more common.

If you haven’t read my previous article on Birkin handbags, please do – it will give you an insight into this fascinating subject and go some distance to explaining why these items receive so much attention and earth-shattering prices. Shoes for many people fall into a similar category of not just simple things that you purchase and wear, but footwear that is lusted after, desired, and envied.

With all of these things considered, does that mean that every HNW client has £1,000,000 of clothing – no, but what it does mean is that a lot of these clients have not considered that the suit they had made at Henry Poole will no longer cost them £2,000, and that pair of Ferragamo’s may have even doubled since they bought them before that cruise, even a simple pair of jeans is almost £100 these days, and I wonder how many people have factored in swimwear or scarves?

What is very clear is that today’s collectables can be displayed, or worn and they all can still change value at an astonishing rate and need to be reviewed regularly. One of my current favourite trends is the astonishing market for rare basketball sneakers (that’s trainers in English) where the secondary market surpasses even Rolex for the biggest increase in value as soon as they walk, or at least are carried out of the shop.

Whilst a valuer cannot go through every drawer in a dressing room, it’s important to establish the client’s taste and style. Getting to know the client and their spending habits is vital to an accurate valuation – that and a keen eye for a pair of Gucci loafers…