{"id":30098,"date":"2018-05-23T12:18:19","date_gmt":"2018-05-23T16:18:19","guid":{"rendered":"https:\/\/rehs.com\/blog\/?p=30098"},"modified":"2024-04-24T07:53:13","modified_gmt":"2024-04-24T11:53:13","slug":"european-19th-century","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2018\/05\/european-19th-century\/","title":{"rendered":"European 19th Century"},"content":{"rendered":"\n\n\t
\"image-William-Adolphe_Bouguereau_-_The_Horseback_Ride\"<\/a>

Bouguereau “La bourrique”<\/p><\/div>\n

Sotheby’s 19th-century sale took place on the morning of the 22nd<\/sup> and when the estimates were in line with the quality and condition, all went well; when they were not, they either sold well below expectations or passed. It’s worth noting this sale included four works deaccessioned from the Berkshire Museum – something we’ve been following closely.<\/p>\n

\"image-Painting-four-seasons-May-2018\"<\/a>

Bouguereau “Les quatre saisons”<\/p><\/div>\n

Normally, there are several artists who make it into the top three; however, in this sale, we saw a hat-trick … Monsieur Bouguereau took them all.\u00a0 La bourrique<\/em> … one of the Berkshire works … made $1.45M ($1.755M w\/c – est. $2-3M – the estimate seemed to me, and turned out to be, a little robust). This was followed by Les quatre saisons<\/em> (a set of four paintings dating from 1854 and his earliest recorded gold ground decorations) at $1.05M ($1.275M w\/c – est. $600-800K). Bringing up the rear was another Berkshire deaccession, L’agneau nouveau-n\u00e9<\/em> at $800K ($975K w\/c – est. $1.5-2M).\u00a0 The two works from the Berkshire Museum were nice examples and in fairly good condition but fell very short of their estimate ranges.\u00a0 I personally believe that the estimate ranges were a little rich and all the controversy surrounding the sale did not help.\u00a0 Rounding out the top five were Alma-Tadema’s Love’s Jewelled Fetter<\/em> at $520K ($639K w\/c – est $500-700K) and Emile Renouf’s Un coup de main,<\/em> which brought $500K ($615K w\/c – est. $300-500K).<\/p>\n

\"image-William-Adolphe_Bouguereau_-_LAgneau_Nouveau-Ne\"<\/a>

Bouguereau “L’agneau nouveau-n\u00e9”<\/p><\/div>\n

Among the more coveted items were Giuseppe de Sanctis’ Teodora<\/em> at $220K ($275K w\/c – est. $100-150K); Bouguereau’s small (16 x 13 inch) Portrait de jeune fille<\/a><\/em> – $270K ($338K w\/c – est. $125-175K); another small Bouguereau (22 x 14 inches) titled Boh\u00e9mienne au tambour de Basque<\/em> at $220K ($275K w\/c – est. $70-90K); von Blaas’\u00a0Flirtation<\/em> which made $400K ($495K w\/c – est. $100-150K); a tiny nude by Munier<\/a> (14.5 x 7.5 inches) at $25K ($31K w\/c – est. $8-12K) and one of the more surprising … Corot<\/a>‘s 13 x 18 inch La gel\u00e9e blanche \u00e0\u00a0Auvers-sur-Oise<\/em> that hammered down at $300K ($375K w\/c – est. $80-120K).<\/p>\n

\"image-corot\"<\/a>

Corot “La gel\u00e9e blanche a Auvers-sur-Oise”<\/p><\/div>\n

And then there were those lots which failed to find a buyer… these included paintings by Pasini (est. $700-$1M … from the Berkshire); Bouguereau (est. $600-800K); Godward (est. $120-180K); Corot (est. $250-350K) as well as\u00a0Cordero’s Siesta<\/em> (est. $500-700K – it was last sold in 2014 for $446K, so not very fresh).<\/p>\n

When the session was over, of the 88 works offered, 69 sold (78.4% – which is pretty good) and the total take was $11.02M ($13.6M w\/c – low end of the estimate range was $12.97M). So, with the buyer’s premium, they made it. When compared to last month’s 19th-century sale at Christie’s we see that Sotheby’s was the clear winner (APPL = average price per lot):<\/p>\nChristie’s:
\n61 lots\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 43 Sold\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 70.5% Sell-through rate\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $6.4M w\/c\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $148K APPL\nSotheby’s:
\n88 lots\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 69 Sold\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 78.4% Sell-through rate\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $13.6M w\/c\u00a0\u00a0\u00a0\u00a0 $197K APPL\n

Digging a bit deeper we find that 18 works sold below, 25 within and 26 above their estimate range giving them an accuracy rate of 28.4%. On the surface, that was not as strong as Christie’s 31.1%; however, 26 (29.5%) of the works sold above their range while at Christie’s just 8 (18.6%) did.\u00a0 So, if you are going to miss that is the way to do it.\u00a0 And in case you are wondering, the top 3 lots accounted for $3.6M (26.4%) of the sale’s total.<\/p>\n

As we saw with Christie’s sale last month, when we compare Sotheby’s May 2017 to 2018 results we see continued improvement:<\/p>\nNumber of Lots: 86 (2017) vs. 88 (2018)
\nSell-through rate: 63.9% (2017) vs. 78.4% (2018)
\nAccuracy rate: 27.9% (2017) vs. 28.4% (2018)
\nLow end of estimate range: $12.27M (2017) vs. $12.97M (2018)
\nTotal take: $9.4M hammer (2017) vs. $11.02M (2018)
\nTotal take with Buyer’s Commissions: $11.62M (2017) vs. $13.6M (2018)\n

With all the options available to sellers, we can no longer look to the New York sales for a clear indication of the 19th-century art market’s health.\u00a0 For these sales to become the barometer they once were, there is going to have to be a change in the seller’s choice and I am not sure we will see that anytime soon. What is clear, is that there is still good competition for the interesting\/quality works and that is a positive sign.<\/p>\n

\"image-pasini\"<\/a>

Pasini<\/p><\/div>\n

I mentioned earlier that there were a few works from the Berkshire Museum in this sale – two by Bouguereau<\/a>, one by Daubigny and one by Pasini.\u00a0 The combined presale estimate range for the works was $4.27-$6.1M and the total hammer price was just $2.31M (the Pasini did not sell) … well short of expectations. Sorry, Berkshire … bad move!<\/p>\n\n","protected":false},"excerpt":{"rendered":"

Sotheby’s 19th-century sale took place on the morning of the 22nd and when the estimates were in line with the quality and condition, all went well; when they were not, they either sold well below expectations or passed. It’s worth … More…<\/a><\/p>\n","protected":false},"author":21,"featured_media":30100,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[384,146,207,20],"class_list":["post-30098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","tag-19th-century-european","tag-19th-century-french","tag-auction-news","tag-auction-results"],"yoast_head":"\nEuropean 19th Century - Rehs Galleries<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2018\/05\/european-19th-century\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European 19th Century\" \/>\n<meta property=\"og:description\" content=\"Sotheby’s 19th-century sale took place on the morning of the 22nd and when the estimates were in line with the quality and condition, all went well; when they were not, they either sold well below expectations or passed. 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