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Art and antiques news from 2002
In 2002 Tim Hirsch led a management buyout of Spink from Christie's.
Alfred Taubman received a jail sentence for his part in the Christie's/Sotheby's collusion scandal.
Rubens' long-lost Massacre of the Innocents sells for £45 million at Sotheby's in London. At the time it was the third most expensive painting ever sold at auction.
Quality, age and original condition provide the right mix
14 June 2002This rare Elizabethan oak draw leaf refectory table proved to be the chief atttraction at the sale of the late Clive Sherwood’s Collection offered by Sotheby’s Olympia (17.5/10% buyer’s premium) on May 22, when it sold for a mid-estimate £55,000 to a London dealer.
A primitive makeover for Raphael
14 June 2002La Guérison de l’Epiléptique, 3ft x 2ft 4in (91 x 70cm), pictured right, by André Bauchand (c.1927), based on Raphael’s Transfiguration, sold on low-estimate for €3800 (£2450) at Blanchet (17.94% buyer’s premium) on May 15, partly reflecting the indifferent condition of its paintwork.
The Finer fashions
14 June 2002JOINING the illustrious roster of exhibitors at this month’s Grosvenor House Art and Antiques Fair, which runs at Mayfair’s Grosvenor House Hotel from June 12 to 18, is the distinguished arms and armour dealer Peter Finer.
Portrait miniature makes £200,000
13 June 2002This portrait miniature of a 30-year-old lady by Nicholas Hilliard, dated 1582, set a new auction record for the artist at Sotheby’s Olympia rooms on June 6 when it sold to a private collector bidding on the phone against the room for £200,000 (plus premium).
Dublin unveils unknown hoard of works by Joyce
12 June 2002THE National Library of Ireland has acquired a sprawling collection of manuscripts by James Joyce, which remained hidden for nearly 60 years after being concealed from the Nazis.They include a total of some 700 pages in six notebooks, 16 drafts from Ulysses and typescripts and proofs of Finnegans Wake.
Spectre of art tax scandal looms
12 June 2002THE head of one of the United States’ biggest industrial conglomerates has quit the company after being indicted on charges of sales tax evasion on paintings valued at $13m.
Investor takes a 20pc stake in Mallett
12 June 2002VALUE investor Jack Petchey has taken just under a 20 per cent stake in Mayfair dealers Mallett. He acquired the 2.66m shares, representing a 19.28 per cent stake in the company, at a price of £2.10 a share, from Merrill Lynch, on May 30.
Auctioneer sues vendor after settling buyer’s claim over painting
12 June 2002A VENDOR has been ordered to pay more than £10,000 legal costs after a picture he sold at auction proved not to be by the famous German artist to whom it was attributed.
Taubman starts sell-off process
12 June 2002ALFRED Taubman, who has just announced an appeal against his collusion conviction, has started the ball rolling in his bid to sell his controlling stake in Sotheby’s.
UK international art trade continues to grow in value
11 June 2002THE value of the UK’s international trade in art and antiques rose for the fifth year running during 2001. Total exports were down by 4.75 per cent to £1884m, but this was more than matched by a 13.5 per cent rise in total imports which were valued at £1623m.
£16,600 Paris magic pulls clock trade to Dublin
06 June 2002MAJOR players from the English and Continental clock trade travelled to Dublin on May 1 for the sale of this important and rare 19th century ormolu-cased French automaton clock, right, at O’Reilly’s (15% buyer’s premium).
Rug rings up £11,200 bonus
06 June 2002A BONUS of the bona fide house clearance is the family rug – usually in a dishevelled condition but market-fresh, which surprises auctioneer and local trade alike by taking the top price of a sale from a mysterious overseas buyer.
Complexities of styles and design
06 June 2002TILES: Tiles seem to be the new hot collecting area in British decorative ceramics. Following on from a sellout exhibition at Richard Dennis’s shop in Kensington last year, Bonhams held a sale of ceramic design in January that featured a large collection of De Morgan tiles which were pursued by a determined band of private collectors to prices that rivalled those of the pottery’s striking hollowwares.
Prices hold up despite the shift to Paris of profitable French fields
06 June 2002The smallest (but not the smallest grossing sale) in the London rooms last month was the 115-lot, £581,000 gathering of 20th century Decorative Arts offered by Christie’s King Street on May 15.
Gold price rise
05 June 2002Tension in the East and distrust in the West have combined to force up gold prices.The steady increase in the value of gold over the past two weeks is due to “a combination of factors,” according to jeweller and precious metals dealer Michael Bloomstein.
Lowestoft’s rarest animal
05 June 2002Mention rare animals to a Lowestoft resident and you are likely to be directed to Suffolk’s only wildlife park on the outskirts of town, where African lions and ring-tailed lemurs roam the saltmarshes.
Poulain-Le Fur join Artcurial to end Sotheby’s deal
05 June 2002After Modern art specialist Francis Briest and Claude Aguttes of suburban Neuilly, Hervé Poulain and Rémy Le Fur have become the latest auctioneers to join Artcurial.
MD steps down at Sotheby’s Olympia
05 June 2002Paul Sumner, managing director of Sotheby’s Olympia, has resigned from the company and is returning to Australia where he plans to set up his own business.
Taubman appeals against conviction
31 May 2002In a second attempt to have his price-fixing conviction overturned, former Sotheby’s auction house chairman A. Alfred Taubman has asked an appeals court to reconsider his case, citing errors by the trial judge. “This was not a fair fight,” lawyers for the Bloomfield Hills multimillionaire said when filing the 95-page appeal document on May 21.
It’s those guides again
31 May 2002THE spectre of misleading fair guides landing dealers with bills for hundreds of pounds for unwanted advertising has risen yet again.