{"id":40631,"date":"2020-10-17T16:14:58","date_gmt":"2020-10-17T20:14:58","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=40631"},"modified":"2024-02-26T00:21:19","modified_gmt":"2024-02-26T05:21:19","slug":"19th-century-european-sothebys-mid-level-sale","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2020\/10\/19th-century-european-sothebys-mid-level-sale\/","title":{"rendered":"19th Century European \u2013 Sotheby\u2019s Mid-Level Sale"},"content":{"rendered":"
\"racehorses<\/a>

Munnings<\/p><\/div>\n

When I first saw the Sotheby\u2019s sale (and we did physically view it), I knew they would have a tough go \u2013 there were very few outstanding works.\u00a0 A few years ago, they moved their major 19th<\/sup>-century sale from the October\/November time slot to January\/February.\u00a0 So, these October sales contained mid-level works.\u00a0 I said \u2018sales\u2019 because it took place in two parts, two days apart, but I have combined them to give a fair comparison to last year\u2019s sale (they had one auction in 2019).<\/p>\n

\"cows<\/a>

Corot – Collines\u00a0et\u00a0p\u00e2tures\u00a0des\u00a0environs\u00a0de\u00a0Saint-Lo<\/p><\/div>\n

As we have seen in previous sales, the auction rooms are having difficulty obtaining high-quality material in this genre. There were even several works that we had the opportunity to purchase directly from the owners and decided to take a pass. I will add that they did have a few nice paintings in their collection… we bought those! Anyway, on to the results. (w\/p = with the buyer\u2019s premium)<\/p>\n

Taking the number one spot was a \u2018not too great\u2019 looking Sir Alfred Munnings titled Five Racehorses with Jockeys<\/em>.\u00a0 The painting was estimated to bring $200-300K and hammered down at $140K ($176.4K w\/p).\u00a0 In second and third were works by Corot. Collines\u00a0et\u00a0p\u00e2tures\u00a0des\u00a0environs\u00a0de\u00a0Saint-Lo<\/em> was expected to bring between $150-200K and sold for $120K ($151.2K w\/p), while Un Torrent des Abruzzes<\/em> made $110K ($138.6K w\/p) on an estimate of $150-200K.\u00a0 As you can see, while the top three lots did find buyers, none of them reached their presale estimate range.<\/p>\n

\"dark<\/a>

Corot – Un Torrent des Abruzzes<\/p><\/div>\n

In the fourth, fifth, and sixth places, we had a three-way tie.\u00a0 Courbet\u2019s Paysage Franc-Comtois or Le Vallon Vert<\/em> (est. $100-150K), Corot\u2019s A Corner of the River with\u00a0Houses\u00a0and Poplars<\/em> (est. $40-60K), and Millet\u2019s Portrait of George Roumy, Uncle of Pauline Ono<\/em> (est. $15\/20K) each hammered at $80K ($100.8K w\/p).\u00a0 I was surprised by the prices paid for the Corot and Millet.<\/p>\n

Other than Paul Huet\u2019s Salt Marshes Around Saint-Val\u00e8ry in Sum, Picardie<\/em> that hammered at $65K ($81.9K \u2013 est. $20-30K) and Georges Picard\u2019s Sous l\u2019Arbre Rose<\/em> that made $32K ($40.3K w\/p \u2013 est. $6-8K), most of the other works did not fare too well. Several pieces failed to find buyers (and that was no surprise to me as their estimate or condition were a hindrance); among them were Arthur Chaplin\u2019s Floral Still Life<\/em> ($80-120K), Frederick Bridgman\u2019s Woman of Algiers on a Balcony<\/em> (est. $60-80K), and \u00a0Munnings\u2019s Gypsy Caravan<\/em> (est. $150-250K).<\/p>\n

By the end of the first session, of the 67 lots offered, 39 sold (58.2% sell-through rate), the total hammer price was just $1.694M ($2.135M w\/p), and the low end of their estimate range was $2.48M \u2026 so even with the buyer\u2019s premium added in, they fell short.\u00a0 Of the 39 sold works, 20 were below, 9 within, and 10 above their presale estimates; this left them with an accuracy rate of 13.4%.<\/p>\n

The second session added another 84 works. Of those, 54 found buyers (64.3% sell-through rate) and garnered an additional $437K ($547K w\/p). The low end of the estimate range was $598K, so this one fell a little short too. Here, 32 went below, 7 within, and 15 above their projected ranges, leaving them with an accuracy rate of 8%.<\/p>\n

Combining the two parts resulted in 151 works offered, 93 sold (61.6% sell-through rate), a total of $2.131M ($2.68M w\/p), and an accuracy rate of 10.6%.\u00a0 The low end of the presale range was $3.08M \u2026 so they were short. To drive home the point that these were nothing more than general 19th<\/sup>-century sales \u2013 the top lot was only expected to bring between $200-300K (which it did not), there were 126 works carrying estimates that did not exceed $50K at the top end, and of those, 117 did not exceed the $30K level, and 51 were below $10K.<\/p>\n

With everything being offered online (without the expense of hard copy catalogs), it is far easier for the salerooms to offer just about anything they can get their hands on.\u00a0 Like they say — throw it against the wall and see what sticks!<\/p>\n

I also looked back at the October 2019 sale that had 162 lots and a total (w\/p) of $1.69M \u2026 so when compared to last year\u2019s sale, this one did a bit better: $14K per lot sold in 2019 vs. $17.7K per lot sold in 2020 – a 21% improvement.\u00a0 But to really put the offerings into perspective, in their January 2020 sale, the top lot (an Alfred Munnings) brought $3.14M, a million more than all the lots in this sale.\u00a0 In fact, the top three lots in January made almost exactly what the October 2019 and 2020 sales combined made: $4.36M vs. $4.37M.\u00a0 Guess we need to wait for their January 2021 sale to see if they can source any top-end works.<\/p>\n","protected":false},"excerpt":{"rendered":"

When I first saw the Sotheby\u2019s sale (and we did physically view it), I knew they would have a tough go \u2013 there were very few outstanding works.\u00a0 A few years ago, they moved their major 19th-century sale from the … More…<\/a><\/p>\n","protected":false},"author":21,"featured_media":40635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[384,146,207,20,154],"class_list":["post-40631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-19th-century-european","tag-19th-century-french","tag-auction-news","tag-auction-results","tag-french-barbizon"],"yoast_head":"\n19th Century European \u2013 Sotheby\u2019s Mid-Level Sale<\/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\/2020\/10\/19th-century-european-sothebys-mid-level-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"19th Century European \u2013 Sotheby\u2019s Mid-Level Sale\" \/>\n<meta property=\"og:description\" content=\"When I first saw the Sotheby\u2019s sale (and we did physically view it), I knew they would have a tough go \u2013 there were very few outstanding works.\u00a0 A few years ago, they moved their major 19th-century sale from the … More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2020\/10\/19th-century-european-sothebys-mid-level-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/howard.rehs\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-17T20:14:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-26T05:21:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2020\/10\/munnings.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"385\" \/>\n\t<meta property=\"og:image:height\" content=\"203\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Howard L. 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