{"id":40992,"date":"2020-11-24T13:41:56","date_gmt":"2020-11-24T18:41:56","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=40992"},"modified":"2024-04-02T07:08:11","modified_gmt":"2024-04-02T11:08:11","slug":"the-orientalists-take-a-hit-christies-london","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2020\/11\/the-orientalists-take-a-hit-christies-london\/","title":{"rendered":"The Orientalists Take A Hit – Christie’s London"},"content":{"rendered":"
\"man<\/a>

Bauernfeind<\/p><\/div>\n

On the 18th<\/sup> of November, Christie’s presented a mixed bag of Orientalist works, and the results will have hopefully taught them a lesson. The lesson \u2013 slow down on the number of works you are throwing into the market! (w\/p = wth buyer\u2019s premium).<\/p>\n

\"man<\/a>

G\u00e9r\u00f4me<\/p><\/div>\n

Taking the top spot here was one of the more interesting lots in the sale, Gustav Bauernfeind’s Warden of the Mosque, Damascus<\/em>. The exquisitely painted interior scene carried a \u00a31.5-2.5M estimate and sold for \u00a32.2M (\u00a32.66M\/$3.54M w\/p).\u00a0 Coming in a distant second was a tiny (9 \u00be x 11 \u00be inches) G\u00e9r\u00f4me’s, Chef arnaute<\/em>, in a family collection since the early 20th<\/sup> century, that carried a \u00a3200-300K estimate and sold for \u00a3320K (\u00a3400K\/$532K w\/p). Well behind that was Ludwig Hans Fischer’s The Khamsin<\/em> which brought \u00a362K (\u00a377.5K\/$103K w\/p \u2013 est. \u00a340-60K).\u00a0 Rounding out the top five were Mahmoud Mokhtar’s Au Bord du Nil<\/em> at \u00a360K (\u00a375K\/$99.7K w\/p – est. \u00a360-80K), and Rudolf Ernst’s The Narghile Smoker<\/em> at \u00a350K (\u00a362.5K\/$83K w\/p \u2013 est. \u00a360-80K).<\/p>\n

\"horses<\/a>

Fischer<\/p><\/div>\n

While there were no real ‘big hits’ in the sale, there were several big failures… the biggest of which was John Frederick Lewis’s The<\/em> Bezestein Bazaar of El Khan Khalil, Cairo<\/em> (est. \u00a33-5M). Then there was G\u00e9r\u00f4me’s An Arnaut Smoking<\/em> (\u00a31.2-1.8M), and Roubtzoff’s The Souk, Tunis<\/em> (est. \u00a3300-500K).<\/p>\n

By the end of the small 41 work sale, only 20 found buyers (a 48.8% sell-through rate \u2013 not very good).\u00a0 The presale estimate range was \u00a37.04M-11.34M, and the total take was \u00a32.92M (\u00a33.56M w\/p) — less than half of what they expected.\u00a0 I decide to calculate the presale estimate range of ONLY the sold works… that worked out to \u00a32.1-3.35M, so even without the buyer\u2019s premium, they fell into that range. Now here is an important fact to consider, the top lot (Bauernfeind) not only accounted for 75% of the sale’s total, but it alone brought the sale into the range — basically making up for a lot of works that sold but did not do very well. As we always say, what a difference one painting can make!<\/p>\n

Going a little deeper, we find that 5 works sold below, 12 within, and 3 above their presale estimate ranges; this gave them an accuracy rate of 29.3% \u2026 stronger than some.<\/p>\n","protected":false},"excerpt":{"rendered":"

On the 18th of November, Christie’s presented a mixed bag of Orientalist works, and the results will have hopefully taught them a lesson. The lesson \u2013 slow down on the number of works you are throwing into the market! (w\/p … More…<\/a><\/p>\n","protected":false},"author":21,"featured_media":40993,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[384,409,20,162],"class_list":["post-40992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-19th-century-european","tag-auction-failures","tag-auction-results","tag-orientalist"],"yoast_head":"\nThe Orientalists Take A Hit \u2013 Christie\u2019s London<\/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\/11\/the-orientalists-take-a-hit-christies-london\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Orientalists Take A Hit - Christie's London\" \/>\n<meta property=\"og:description\" content=\"On the 18th of November, Christie’s presented a mixed bag of Orientalist works, and the results will have hopefully taught them a lesson. 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