Displaying items by tag: bid

Andy Warhol’s print of a nickel coin was expected to sell for as much as $30,000 in a money-themed online auction on Paddle8.com. Instead, the 1986 work failed to draw a single bid, the biggest casualty of the “Currency” sale in which 65 percent of the 20 lots went unsold.

None of this information can be gleaned now. When the auction ended at 5 p.m. on July 24, the estimates and final bids vanished from the site. So much for transparency.

In early May, Christie's invited a group of 18 new collectors from China to visit New York. The auction house escorted the guests on guided tours through the Museum of Modern Art, arranged VIP tickets to a local art fair and threw a lavish dinner in the Rockefeller Center ballroom of Christie's. Auctioneers also reserved two discreet skyboxes overlooking the house's saleroom so the group could watch its major spring sales of Impressionist, modern and contemporary art.

Christie's efforts paid off: During its May 13 contemporary art sale, members of the group placed bids on at least half the top 10 priciest pieces in what became an historic, $745 million auction.

The Rijksmuseum in the Netherlands purchased a rare antique Japanese chest once used as a television stand for $9.5 million. London’s Victoria and Albert Museum had been searching for the 17^th century lacquer chest, one of only ten in the world, since 1941.

The saga of the chest began in 1640 when the head of the Dutch East India Company’s Japanese office commissioned the chest along with three others just like it. All four of the chests were later sold to a French diplomat who passed two of the works off to the British poet William Beckford. Beckford, whose daughter was married to the Duke of Hamilton, inherited the chests and they became part of the Hamilton Palace’s collection. During a sale in 1882 to raise funds for the palace’s upkeep, the Victoria and Albert Museum purchased one of the chests while the other eventually went missing. What the museum didn’t know was that an unassuming Shell Oil engineer had purchased the missing chest in 1970 for a mere $150. The elusive chest was used as everything from a television stand to a storage cabinet until auctioneer Philippe Rouillac and his brother, Aymeric, recognized it.  

While the Victoria & Albert Museum would have liked to have been able to bid on the chest when it went to auction, they simply didn’t have the funds. Julia Hutt, curator of the V&A’s East Asian department, said, “I was delighted to hear the Rijksmuseum had won the auction – it is a very fitting home for the chest.”

The Cleveland Museum of Art acquired a rare enamel-on-copper copy of Titian’s (1485-1576) iconic 16^th century masterpiece Bacchus and Ariadne by the English enamel painter Henry Bone (1755-1834). The museum purchased the 19^th century work at Christie’s London on July 4, 2013 for $478,346. Curator John Seydl made the winning bid over the telephone from a London hotel in an effort to disguise the museum’s interest from other bidders.

The enamel measures 16 inches by 18 inches, which is exceptionally large for the medium typically used to execute portrait miniatures. The work includes an ornate gilt-wood and gesso frame and serves as a prime example of Bone’s innovative and widely admired enamel technique.

After being shipping to Cleveland, the Titian copy is expected to hang in the museum’s early 19^th century gallery, which features French and English art.