The Lesquesne Silver Coffee Pot

At auction in 1971 estimate £20,000 – £25,000
At auction in 1983 estimate £150,000 – £175,000
At auction in 2013 estimate £3.5 – £4 million!!

Paul de Lamerie Lequesne Coffee Pot

I have had the pleasure of handling this wonderful piece of silver three times over the years but sadly never as the owner or vendor!
Paul de Lamerie is always lauded as being England’s finest silversmith, but as his name suggests he is from the continent. He was in fact Dutch, – Holland actual arriving in England as a 1 year old with his Hugenot family, escaping the religious persecution of the time.

In 1703 he was apprenticed to a fellow Hugenot smith, Pierre Plattel, and by 1713 had set up his own workshop. He very quickly became well known for quality workmanship combined with a sense of style, showing some continental influences which were easily incorporated in the emerging Rococo taste and style of decoration.

The pot was commissioned in 1738 by Sir John Lequesne to commemorate his wedding to Miss Mary Knight of Hampshire and both of their Coats of Arms are engraved to the side of the pot. Sir John was a fellow Hugenot of about the same age as Lamerie and had become a highly successful and wealthy trader in London in the 1720s and a prominent political figure. Contemporary records imply that Lesquesne was somewhat of a smooth operator, gaining his knighthood by being very solicitous and supportive of the newly arrived George II from Germany. Sadly though, the marriage was short lived as Sir John died shortly after in 1741.

English silver of the Queen Anne and George I periods is generally quite restrained: with plain conical, octagonal, or pear-shaped bodies and little in the way of applied or engraved decoration. This pot, although still having a pear-shaped body raised up from a single disc of silver, has bold spiral flutes chased into it and the three scroll legs are cast and join the body on panels which are cast and applied and depict putti clasping the branches of a coffee bush. The short stubby spout emerges from a finely cast mask of a youth emerging from a coffee branch cluster and the handle sockets are cast as snarling lions’ masks.
Paul de Lamerie Lequesne Coffee Pot Spout
There is a short spout at the top of the body, rather than being a long slender spout from the bottom of the body. It was designed thus for a practical reason. Tea, coffee and hot chocolate all came to England from the mid 17th century and by the early 1700s coffee was being drunk rather like Turkish coffee these days; that is a very thick and heavy brew which had sugar added before being transferred to the pot, making it quite ‘gloopy’ to pour. This would have been a problem with a long slender curved spout.
Paul de Lamerie Lequesne Coffee Pot - coffee branches detail
The use of coffee bush branches as a decorative feature is, as far as we are aware, unique. Presumably, they were used to denote it being a coffee pot, but it has also been suggested that one of Lesquesne’s business ventures might well have been in the importing of coffee to England, so the design may have been a nod to this trade. The finial is cast with shells (very much a Rococo feature) and there are small panels of finely engraved trellis-like decoration in the Chinoiserie taste. There are also some very boldly chased floral clusters and swags. It may be somewhat of a riot of decorative styles incorporated in a pot that measures under 30 cms, but in my opinion it works marvellously well.

So why is this George II silver coffee pot worth hundreds of times more than any other pot of the same era? Firstly, it is the de Lamerie factor. He gained the Royal warrant from George II only three years after setting up on his own, and he was also a silversmith favoured by members of the Houses of Parliament. Most of his production was on a commissioned basis from wealthy patrons, most had coats of arms, and a lot of contemporary records survive.

But despite his popularity and great success over his 30 or so year career, his production was surprisingly limited. Even the smallest of his products was superior in quality and style than most of his contemporaries and he never bought in stock from other smiths – a practice quite common where a smith would buy bits from a fellow smith before hallmarking and marking it with his own maker’s mark. The legally enforceable Hallmarking Act, which has been in operation for 750 years or so, has worked well and as far as I’m aware there are no de Lamerie fakes around, and unlike the picture world you don’t find silver with the ‘school of Lamerie’ or ‘in the manner of Lamerie’ labels.

You would have thought that a silver coffee pot made for use over 250 years ago would show some signs of wear, but this pot is as crisp and sharp as when it left the factory. I am therefore sure that from day one it was a piece of silver that commanded respect and reverence and may have spent much of its life as a showpiece. Even the fruitwood handle looks to be original.
Secondly, is the design factor of the pot. It is the first recorded piece of English silver that carries features from the French Regency style that was prevalent in the early 1720s in Europe. This trend developed into the full-blooded Rococo period of the mid-century which influenced the decorative features of furniture and paintings for several decades.

Thirdly, it is a seminal work of art in my opinion and a wonderful example of the silversmiths’ skills. Works of art do not have to be painted on canvas!!

And finally, it is totally unique. Thankfully, because if there were another one around I couldn’t even afford the knob on the top!

Bridget Riley, CH, CBE. Born 1931

Bridget Riley Bassacs 94 banner

Bridget Riley, Bassacs, ’94 (section), signed and dated 94, gouache on paper, 66 x 87 cms. Sold Nov 2019, £250,000

It is impossible not to be moved both spiritually and physically while standing in front of a major work by Bridget Riley. She belongs to a painting movement known as ‘Op Art’.

Bridget Riley Shift 1963

Bridget Riley – Shift, 1963. Oil on canvas, 75 x 75 cms. Sold twice recently in London, June 2016, £1,426,500 and then February 2020, £2,715,000

Not to be confused with Pop Art, Op Art is short for Optical Art, a style of visual art that uses optical illusions and effects with the aim of destabilising the viewer. The viewer gets the impression of movement, hidden images, flashing and vibrating patterns or of swelling and warping. The movement emerges in the 1960’s and includes other major International artists such as Victor Vasarely and Jesus Rafael Soto.

Bridget Riley Primitive Blaze

Bridget Riley – Primitive Blaze, emulsion on board, 1963, 94 x 94 cms.
Sold June 2007 for £826,400

Just try standing directly in front of a Riley work, especially a large 60’s black and white piece. It truly is a unique experience. After a few seconds you begin to feel woozy, then you begin to feel like you are being pulled into the picture itself and so you begin to move involuntarily and to sway gently to gain access, and then your eyes go fuzzy. This effect all comes from the artist’s specific design and her precise aim is to make this happen to you.

Bridget Riley Chant 2

Bridget Riley – Chant 2, 1967, Emulsion on canvas, 231 x 231 cms. Sold July 2008, £2,561,250

Bridget Riley uses a studio system to make her pieces; she makes the original design and then her super skilled team produce the finished pictures under her direct supervision throughout. Her distinctive way of working owes little to other artists and her skill, knowledge and experience now spans over 50 years as a working artist. By using a studio method with teams of people who will carry out her ideas and put them into practice means she is freed up to constantly have new ideas and to refresh her art and output.

Bridget Riley Study Point Movement

Bridget Riley – Study fo Point Movement, signed, gouache on card, 68 x 73 cms. Sold Nov 2017, £162,000

I love the sheer precision of her work and also the variety, and I marvel at how she manages to always make it undoubtedly recognisable as the work of Bridget Riley. The most desirable and expensive pieces are the black-and-white works which span the early 60’s from 1961-1964. These culminate in the 1965 exhibition ‘ The Responsive Eye’ held at MOMA New York, when ‘Current’ 1964, by Riley was selected for the front cover of the catalogue.

ridget Riley October 5 Revision of August 11

Bridget Riley – October 5, Revision of August 11, signed and dated 98, gouache on paper, 85 x 56 cms. Sold March 2020, £125,000

Colour works begin to emerge from 1967 onwards and are inspired by places Riley knows or has visited. For example, the ‘Ka’ and ‘Ra’ series relate to her visits to Egypt and evoke the colours, shapes and light in Egypt. The series, ‘Les Bassacs’ is inspired and named after the village of the same name in Provence, near to where Riley has her studio.

Bridget Riley Bassacs 94

Bridget Riley, Bassacs, ’94 (section), signed and dated 94, gouache on paper, 66 x 87 cms. Sold Nov 2019, £250,000

For collectors there is much to choose from; an easy and affordable starting point being the many limited-edition prints, followed by works on paper and then paintings. The big money has until recently been for the 60’s black and white works only which inevitably are now very rare, so in recent years large scale colour works from the 70’s and 80’s and later have increased in price significantly.

Bridget Riley Serpentine Study 1999

Bridget Riley – Serpentine Study, 1999, gouache on paper, 39 x 38 cms
Sold Oct 2019, £50,000

For me, the genius of Bridget Riley is that her work never dates and is always fresh and vibrant in its intensity and vision.

Bridget Riley Six Circles

Bridget Riley – Six Circles, gouache, 1970, 79 x 45 cms. Sold June 2018, £125,000

 

Dame Laura Knight, RA, DBE, RWS (1877-1970)

Dame Laura Knight was an extraordinarily gifted painter, who despite being painfully shy in her early years, later developed a great sense of personal style and strength of character and honed her true genius for colour and composition.

Laura Knight - Artist’s Self Portrait

Laura Knight – Artist’s Self Portrait, at her easel, public collection

Laura had a great lust for life and embraced everything it threw at her; from being a teaching assistant at Nottingham School of Art, aged 13, via the shores of North Yorkshire and Cornwall and following critical success becoming the first ever female Royal Academician. She was also the only female War artist in World War Two, covering the Nuremberg War Crime trials as the official British artist, with her career culminating in1963 with being the first female artist to have a full retrospective exhibition of her work at the Royal Academy.

Laura Knight - Nuremberg war crimes trials

Laura Knight – Nuremberg war crimes trials, collection of the Imperial War Museum

What a life! Laura really packed everything in. She had a very pale ‘English Rose’ complexion and blushed very easily, especially when confronted by ‘chaps’ other than her husband, the painter Harold Knight whom she married in 1903. For those of you who like movies featuring real artists, you can see Laura on Netflix in the flesh as it were in the 2013 movie ‘Summer in February’ starring Dominic Cooper as the painter Alfred Munnings, Laura is brilliantly played by Hattie Morihan and the movie is set in Lamorna, Cornwall.

Laura Knight - On the Cliffs, Cornwall

Laura Knight – On the Cliffs, Cornwall. Signed, oil on canvas, 63 x 76 cms. Sold December 2009, £ 646,050 the current world record price

The action takes place in February of 1913. As Spring comes early down there, it was during what proved to be the last golden, warm, and peaceful Cornish Spring before the destruction and devastation of WW1 arrived in 1914. Laura is tongue-tied and red in the face whenever she is confronted by the roguish painter Alfred Munnings (Dominic Cooper is just playing himself I think!), who takes every opportunity to embarrass Laura with his advances whenever Laura’s husband Harold was nowhere to be seen.

Laura Knight Ballet Girl and Dressmaker

Laura Knight, Ballet Girl and Dressmaker, signed, oil on canvas, 96 x 122 cms. Sold July 2018, £322,000

Laura learned painting from her mother who taught at Nottingham School of Art. When she was only13 her mother became terminally ill and Laura effectively took on her role. She married her childhood friend the painter Harold Knight (1874-1961) in 1903 and they moved to join the Staithes artists’ colony based on the North Yorkshire coast due north of Whitby, living and working in or near the village of Staithes .

Laura Knight - Packing Fish, Staithes

Laura Knight – Packing Fish, Staithes, oil on canvas, 60 x 50 cms. Sold March 2013, £20,000

Her style is quite different in Staithes. As money was tight, she painted mostly in watercolour there. However, the work is very charming. She loved the local people and depicted their daily life in low-ceilinged, poorly lit interior with figures using muted and subtle colours.

Laura Knight - Marsh Mallows, Cornwall

Laura Knight – Marsh Mallows, Cornwall. Oil on canvas, 76 x 64 cms. Sold Dec 1999, £331,500

The Knights moved to Cornwall in 1907 and by 1908 Laura’s style had transformed under the influence of the warm, brilliant light, dazzling blue green seas and glorious sunny days. All this lifted her palette and her work to new heights. When this new work was first shown at the Royal Academy it caused a sensation and even today these truly remarkable Cornish pictures always command the highest prices.

Laura Knight - Munitions worker

Laura Knight – Munitions worker, collection of the Imperial War Museum

Laura Knight was a great painter in the British Impressionist tradition and a trailblazer for women artists of the 20th Century. Both Laura and Harold enjoyed critical and financial success, with Laura notably arriving in her Rolls-Royce to paint at the Epsom Derby. She was also amazingly productive, painting continuously for well over 50 years.

Laura Knight A dull day Epsom

Laura Knight – A dull day Epsom, oil on canvas, 63 x 76 cms. Sold may 2014, £88,000

She was always on the hunt for new subjects, which in addition to Staithes and Cornwall include; the theatre, ballet, the circus – with all its players and characters – glamour girls and ladies, horse racing, fairgrounds, landscapes… She was a remarkably busy lady indeed, so luckily for the collector there are many buying opportunities, from fine black and white etchings for not much money, to drawings and sketches, and watercolours and oils.

Mary Fedden Tuscan Terrace

Mary Fedden 1915-2012

They say you should never meet your heroes, however in my case meeting my heroine Mary Fedden back in 1989 went without a hitch and she was a pure delight throughout.

mary fedden blue table

Mary Fedden
The Blue table, oil on board, 76 x 91 cms.
Painted in 1959,
Sold in Feb 2007 for £49,200 ( estimate 15-20,000)

We were both council members of the artists’ charity the AGBI, founded by J M W Turner in 1814; 200+ years later we are still helping artists and going strong. The Committee would meet eight times a year with ten or more council members, mainly artists with some commercial art members such as myself in attendance also. I sat opposite or near Mary for the next ten years or more and if I close my eyes I can still hear her rich, gentle and mellow speaking voice, just the sort of voice that suits fairy tales read aloud. Mary had been on the council for years when I joined, and she was happily enjoying a well-deserved revival of fortunes. Back in 1989 the art market was enjoying a real high point. It was a ‘bonkers’ market for art which lasted until November 1990 when it finally ‘tanked’.

mary fedden tuscan terrace

Mary Fedden Tuscan Terrace, signed and dated 1956, oil on canvas, 50 x 76 cms. Sold £27,500 July 2010 ( estimate £20-30,000)

Mary was showing her work in an exhibition in a gallery in Cork Street. On the opening day lines of people had begun forming up outside the gallery from the early morning, all trying to be first in to buy. Part of the reason for this was Mary’s insistence that her prices should be attractive, ie low so as to ensure success, so the pictures were all priced between £300 and £600, which for the commercially minded collector in the queue outside represented an immediate profit on the current auction prices; hence the feeding frenzy … I remember buyers were limited to no more than 3 pictures per person! On or around Mary’s 90th birthday in 2005 I managed to get her in for a boardroom lunch I was hosting at Christie’s, at which she told me a little more about her life and career.

mary fedden my things

Mary Fedden My Things, signed, oil on canvas, 101x 162 cms. Sold twice, first in June 2006 for £30,000 and again in 2008 for £103,250 !!

She had married fellow artist Julian Trevelyan in 1951. It was his second marriage and her first, and as was the convention back then, Mary almost entirely parked her painting career and ambitions not long after they married. At the time it was not thought appropriate to compete with one’s husband in a marriage between painters.

mary fedden Julian Trevelyan

Mary Fedden. Mary’s husband Julian Trevelyan by the  Thames, signed, oil on board, painted in 1978, 78 x 68 cms sold for £19,200 in Nov 2007.

Julian became President of the RA and died in 1988 and so 1989 marked the first year Mary felt able to ‘go for it’ as it were. She had not stopped painting in the intervening years, she had just stopped selling. Her pricing was probably still stuck in the fifties also! Her accountant told her that in 1989 she earned as much in that one year as she had earned since getting married in 1951 and 1988!

mary fedden julian in the greenhouse

Mary Fedden Julian in the Greenhouse, signed and dated 1986, oil on canvas, 50 x 40 cms. Sold £ 25,000 July 2015 ( estimate £8-12,000)

The appeal of Mary’s work is universal and immediate and private collectors loved and admired it back then and still do now. Also, for me Mary’s work is unique to her and she does not owe anything to or follow any school of painting, making her work recognisable and attractive.

mary fedden white Mary Fedden, The White Umbrella , signed, oil on canvas, 91 x 101 cms. Sold Nov 2007 for £48,000 ( estimte 30-50,000)umbrella

Mary Fedden, The White Umbrella , signed, oil on canvas, 91 x 101 cms. Sold Nov 2007 for £48,000 ( estimte 30-50,000)

Mary’s prices rocketed, albeit from a low base in the late 80’s, so her confidence grew and grew, and her prices have remained strong continuing to gain ground today. Mary was a delight to know and she lived and loved to paint.

mary fedden tabbys dinner

Mary Fedden. Tabby’s dinner, signed, oil on canvas, 40 x 50 cms. Sold June 2007 for £22,000 (estimate £6-8,000)

When she was no longer able to travel, she painted at home in Hammersmith using postcards of her old paintings as source material. I have unashamedly chosen some of my favourite pictures for this piece and you can buy her work at the Portland Gallery in London, who also take great care looking after her estate and artistic legacy.

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] 

Investing in Warhol Is Investing in Art History

By Ben Hanly, Modern and Contemporary Art Specialist

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“Investing in Warhol Is Investing in Art History” (Eric Shiner, Andy Warhol Museum)
The appeal of Andy Warhol’s work is universal and enduring, and it has been the bedrock of the Post War/Contemporary art market for decades, fuelled by his global fame and the rich supply of work. Not surprisingly, his images which were drawn so strongly from popular culture, have come to define our understanding of contemporary art and culture since the 1970s. The art of Warhol is now so mainstream and so inextricably linked to our visual vocabulary that it is impossible not to be familiar with it.

Contemporary art without Warhol is unthinkable, and this influence and popularity is reflected in the strength of his commercial market which has continued to rise on an upward trajectory since his death in 1987.
In many ways the Warhol market defies traditional market rules where perceived wisdom suggests that market strength is linked to the tension between supply and demand – where a limited supply exists, strong prices usually follow. Paradoxically, the opposite is true with Warhol who was a hugely prolific artist. In 1963, Gerald Malanga introduced Warhol to the hitherto commercial technique of silk-screening which he went on to use throughout his career to produce large numbers of canvases produced in various series, as well as extensive numbers of limited-edition prints.

Normally this would be a recipe for commercial disaster. However, with Warhol it turned out to be a strength. Warhol’s notoriety brought him global fame and this coupled with the easy accessibility of his images which have become icons of our time, has meant that there has always been a strong demand for Warhol’s work. The fact that the large supply of works on offer at any one time to collectors has encouraged a very buoyant and vigorous trading market for the artist. Similarly, the fact that collectors can enter his market at varying price points has been very helpful in developing Warhol’s market.

Even today, it is possible to buy a good Warhol limited edition print for as little as £25,000. Whilst this figure might not be exactly small change, it does represent extremely good value and a very attractive entry point level for new collectors entering the market of such an iconic artist. It is hard to believe that a Warhol Campbell’s Soup Can print can be bought at auction for a little as $35,000. The word ‘iconic’ is often used too freely these days, but in this case the use of the word is fully deserved. Warhol’s soup can imagery is truly iconic and for many people it represents what modern art is, so to be able to acquire such an important piece of art history for a relatively accessible price is remarkable.

At the other end of his market, Warhol’s major canvases can make staggering sums of money – such as his 1963 Silver Car Crash which made $105m at Sotheby’s in 2013; or his Triple Elvis, also from 1963, which made $82m the following year in 2014. It is not surprising that Warhol’s highest prices have been for his seminal early paintings – here rarity and uniqueness come into play as far fewer works were produced in the early 1960s than in later years, and all of them created with much more hands-on involvement from the Artist himself. It was only in the late 1960s/1970s that Warhol’s studio, his now famous Factory, came into full swing and started to produce large numbers of works with an ever-increasing supply of assistants and helpers. The early works from the 1960s are, therefore, pure Warhol and they are the truly iconic images which were to make Warhol’s reputation – his Soup Cans, Marilyn, Elvis, Jackie Kennedy etc.

A market as diverse and large as Warhol’s performs differently at its different price levels; prints perform differently to canvases, which in turn perform differently depending on date and quality. Clearly the masterworks will always be avidly sought after by major clients and achieve huge prices. However, it is the overall stability and buoyancy that is astonishing with the Warhol market across all sectors.
It is true to say that the value of Andy Warhol’s artwork—despite a brief dip in the 1990s—has been on an endless upward trajectory, and they continue to offer a secure investment opportunity to all levels of collectors. It should be noted that in 2014 alone the value of the international Warhol market sold at auction accounted for $570m – this figure accounted for more than a sixth of the global art market!
Warhol may have famously said that everyone has their 5 minutes of fame, but it appears that thirty-three years after his own death, Warhol’s artwork has a much longer lasting appeal to collectors!

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