US

Deal clears way for leaseback of building: Sotheby's will be able to clear up to $100m of debt – including their recent $20m European Commission fine – by selling their York Avenue headquarters in New York.

SLOAN’S auctioneers of Washington DC have filed for Chapter 11 bankruptcy protection in a bid to keep the company afloat. The move follows recent reports that the company had debts of up to $5m and a string of unpaid consignors.

RICHARD Madley, former president of Christie’s East, New York, has returned to the UK and joined Hamptons with a view to increasing the firm’s presence in the auction market.

HOW can coins being sold on the rostrum in New York be sitting safely locked up in London and elsewhere at the same time? That is the conundrum facing the coins and medals world following the publication of a catalogue and results from a sale organised in New York by Riccardo Paolucci, a Yorkshire-based Italian dealer.

AS Maryland auctioneers Sloan’s try to resolve their recently publicised problems, a new auction business plans to set up in nearby Washington. The firm of Smith & Kenyon Auctioneers and Appraisers plan to set up in a converted 117,000 sq ft roller skating rink in the city.

A PRE-VESALIAN anatomy and a pioneering German surgical treatise are featured in the caption story below, while among the other scientific texts in an October 2 sale of early printed books held by Swanns were two important works by Kepler.

Sotheby’s and Christie’s October sales of 19th Century European Art in New York told, or at least seemed to tell, very different stories of the current state of the market for high value Orientalist and genre painting.

The Impressionist and Modern sales were not the only New York sales last week to smash auction records. Christie’s November 5-6 sale of 19th and 20th century prints brought an extraordinary record price for a single print by Henri de Toulouse Lautrec. La Grande Loge, an 1897 lithograph in colours on wove paper, was an extremely rare and previously unrecorded colour trial proof produced before an edition of 12.

The patent dispute pitching a Virginia inventor against eBay appears to be heading to trial. US District Court Judge Jerome Friedman issued a series of rulings in late October that, while firming up aspects of eBay’s defence, rejected the company’s attempts to have the claims – made by MercExchange, a Virginia technology company – thrown out.

OF the three new world auction records taken at Christie’s Rockefeller Center saleroom on the evening of November 6, two of them were for pieces of sculpture. This follows on from Christie’s success in the May Impressionist and Modern sales, their best – as Sotheby’s were for them – for some time, when Constantin Brancusi’s 1913 bronze Danaïde took $16.5m (£11.6m), the highest price for any piece of sculpture sold at auction.

FLORIDA hosts a new design fair next year when ARTform, the International Fair for Dimensional Fine Art, debuts at the International Pavilion of the Palm Beaches in downtown West Palm Beach from March 6 to 11.

In May 1919 New Yorker Raymond Orteig offered a $25,000 prize for the first non-stop aeroplane flight from New York to Paris. In the ensuing eight years dozens of people managed to cross the Atlantic Ocean by air, but no one met Orteig’s criteria until eight years later when on May 20-21, 1927 Charles A. Lindbergh made the longest non-stop, heavier-than-air transatlantic flight in his plane, the Spirit of St Louis.

MUCH to the relief of the international trade, international buyers and discerning New Yorkers, the International Fine Art and Antique Dealers’ Show returns to The Seventh Regiment Armory, Park Avenue at 67th Street, New York from October 18 to 24.

On October 4, Christie’s New York sold the Harvey Plotnick Library on ‘The History of Quantum Physics and the Theory of Relativity’ for a premium-inclusive total of $1.78m (£1.15m).

THE Haughtons’ International is not the only fair in town in mid-October and very well worth a visit is the Gramercy Park Antiques Show from October 18 to 20 at the downtown 69th Regiment Armory on Lexington Avenue at 26th Street.

ST James’s dealer John Bly is the latest of an increasing number establishing a presence in the United States. He starts from December 10 to 14 with a selling exhibition with lectures, for which he will take over The Versailles Suite at New York’s famous Carlyle Hotel.

WITH the backing of 65 per cent of a PayPal shareholders vote, eBay have completed their acquisition of the leading online payments company. Despite the overwhelming approval of the merger, some shareholders did object to it, suing eBay and PayPal in an attempt to block the acquisition.

After the spectacular HK$37m (£3,394,495) price bid for the Yongzheng (1723-35) peach vase in Sotheby’s Hong Kong May 7 sale, their New York rooms had high hopes for this yellow ground famille rose double gourd vase, Qianlong period (1736-95), consigned by the same private US vendor, in their Chinese outing on September 19. They were not disappointed by the outcome.

Chinese Classic Furniture – The Dr S.Y. Yip Collection: It may come as a surprise to some to learn that the Ming dynasty’s minimalist huanghuali furniture has traditionally been more prized in the West than it has been in the East.

RAYMOND CHANDLER’S Philip Marlowe first appeared in The Big Sleep of 1939, and the copy seen above right, in a slightly chipped and torn jacket, sold for $8000 (£5160) in Pt. II of the ‘Detective Fiction Library of Richard M.Lackritz’, sold by Christie’s New York on September 24, but Chandler was not the writer who enjoyed the greatest success.