Rey L Agosto’s Post

One of the questions we get asked the most is "What's hot in today's auction market?" or "What's selling well?" Thanks to our new assistant Claude we are able to give you a market analysis from our latest auction. The easy answer is special pieces in any category will sell well, but here is a more in-depth response. 📊 Market Insights: September 2024 Antique & Art Auction Highlights Our recent auction revealed fascinating trends in the antiques and collectibles market. Here are key takeaways for collectors, investors, and sellers: 🚗 Classic Cars: A 1960 Mercedes-Benz 190 SL stole the show, selling for $73,160, demonstrating the enduring appeal of vintage automobiles. 🥈 Sterling Silver: Consistently strong, with an 8-piece Kirk Repousse Coffee Service fetching $3,894. 🎨 Fine Art: Nathan Grunsweigh's "Card Players" led the category at $4,838, showing continued demand for quality artworks. 💍 Jewelry: Steady performer with high engagement, indicating lasting appeal. 🏺 Niche Markets: Herend Porcelain and Tiffany items revealed the power of dedicated collector bases. 📜 Historical Documents: A signed Churchill letter sold for $1,416, highlighting the value of historical significance. Key Market Insights: 1. Provenance and brand recognition significantly drive value. 2. Niche collector communities sustain interest in specialized categories. 3. Diverse price points attract a wide range of buyers, from enthusiasts to high-end collectors. 4. Traditional categories like silver and fine art show resilience in changing markets. Whether buying or selling, understanding these trends is crucial in navigating the current antiques and collectibles landscape. What's your take on these trends? Are you seeing similar patterns in your collecting or investing experiences? #AntiquesMarket #CollectiblesInvestment #MarketTrends #AuctionInsights Note: All prices include an 18% buyer's premium.

Highlights from The Geneva Watch Auction: XIX featuring the Guido Mondani Collection (May 11-12). There are watch models that in virtue of their historical importance, rarity and attractiveness have soared above all the rest and are regarded unanimously by the community as “watch collecting endgame”. The two-crown Patek Philippe world time is potentially the very first model to reach this kind of “ultimate grail” status, achieving it as soon as 1989, when an example was chosen as cover lot of the "Art of Patek Philippe" auction. The present example is without a doubt one of the most appealing and collectible Patek Philippe two-crown world time wristwatches to ever come to market in virtue of its unpolished case which perfectly preserves all the details of its peculiar architecture in unmolested condition. All the facets of the lugs are perfectly preserved, with sharp edges. The dial is as impressive as the case, featuring a city ring with strong engraved/enameled graphics in beautiful contrast with the metallic finish. The guilloché center is pristine, without hints of oxidation. The 24-hour ring features perfectly preserved graphics, without signs of fading. Such remarkable condition is not only a rarity but also a necessity if one is to admire this design in all its unabashed beauty, especially concerning the case. Watch now: https://bit.ly/4aVgim7 Lot 55 Patek Philippe Ref. 2523 Two-crown World Time, Ore del Mondo Doppia Corona Estimate: CHF1'200'000-2'400'000 #patekphilippe #2523 #patek2523

BUY ELTON JOHN’S CONTEMPORARY ART, CAR, WATCHES, CLOTHES, FURNITURE AND MORE TONIGHT!   Christie’s is presented The Collection of Sir Elton John, with the opening night auction beginning this evening at 4:30 Eastern. Elton John and his husband are selling all the items from their Atlanta home through Christie’s, including major artwork by Keith Haring, Julien Schnabel, Banksy, Andy Warhol, and many more. In addition, you can bid on clothing Elton John wore Rob(in) Hunden, both on-stage and at home. Or you can bid on his gorgeous furniture Diana Mosher and Julie Laughton, or some rare watches, or even one of his pianos or his 1990 Bentley Convertible at an estimated $25,000 - $35,000. I think this one has Zachary Parker's name on it Alex Parker! This morning the head of the auction for Christies said that the items have been estimated at Fair Market Value, with no reference to the provenance, meaning that the estimates don’t take into account that these items were owned by Sir Elton John. The star power of the provenance of these items will be fun to watch, which you can do online! So, there is art estimated in the hundreds of thousands, and the Banksy at $1 million to $1.5 million on its own merit. Those pieces may sell close to their estimate. However, the idea of buying 7 Gianni Versace silk shirts, which were worn by Elton John, for just the estimated $4,000 to $6,000 fair market value seems a tad low. If someone bought all 7 at that price, I’d imagine they could turn around and put them on E-Bay separately. After all, there have to be people who would pay $2,000 or more for just one of Elton John’s shirts. (Especially if you know that Gianni Versace and Elton John were very good friends who hung out together all the time.) What will the star power be worth on, for example, his rocket-shaped cocktail shakers? So if you’re interested in a fun auction to watch, or you’d like to own one of Elton John’s fabulous chairs or lamps, this could be a great evening for you! #contemporaryart #eltonjohn Christie's #classiccars #artconsultant Photo is from Christie's auction website. The online auction continues through February 28.    

Abstract is the way MM6 approaches the seasonal exercise of devising pieces of a wardrobe. For Autumn-Winter 2024, abstraction is expressed in the idea of open-ended clothing, in playing with textures, repeating pieces in different fabrications to reassess their value, while shifting it. Abstraction, ultimately, translates in a relentless play with length and width, as the pureness of the geometric forms allows a certain radicality of silhouette. https://lnkd.in/e72jXpjg

💎 Jewelry Auctions Slow Down in S1 2024 – What’s Next for the Second Half? The first half of 2024 has seen the global jewelry auction market face substantial headwinds*: 📉 22% Fewer Lots Sold versus S1 2023 💸 49% Drop in Total Sales versus S1 2023 💰 34% Decline in the Average Adjudicated Price versus S1 2023 Not only fewer lots were sold, but they were sold at lower values… As we look ahead to the second semester of 2024, several key questions emerge: 🔍 Market Stabilization or Further Decline? Will the market find its footing, or are we in for continued challenges? Monitoring economic indicators and consumer confidence will be crucial. 🌍 Global Economic Shifts Beyond the well-known geopolitical tensions, the jewelry market faces additional challenges as the primary luxury market slows, particularly in China. How interconnected are the primary and secondary jewelry markets? Does one drive the other, or are they both reacting to broader economic forces? 📈 Opportunities Amid Challenges For investors and collectors, the second half of 2024 could offer prime opportunities to acquire exceptional pieces at more competitive prices. 🔔 More on the asset value of High Jewelry creations coming soon – stay tuned! The jewelry market is as resilient as it is luxurious. As we move into the latter half of the year, staying agile and informed will be key to navigating this evolving landscape. What are your predictions for the luxury jewelry market in 2024 second semester? Share your thoughts below! #JewelryMarket #AuctionTrends #LuxuryGoods #MarketForecast #2024Outlook #HighEndJewelry #JewelryDealer #HighJewelryInvestment #AssetDiversification #AuctionAnalysis *The data is based on the public sales of 8 auction houses: Christie’s, Sotheby’s, Bonhams, Phillips, Doyle, Artcurial, Tajan, Antiquorum

Key figures and best auction results in the first quarter of 2024 The art market began 2024 with unusual calm. The auction stats for the first quarter show a high-end market operating at an even slower pace than in the last quarter of last year. Artprice’s latest Annual Art Market Report discusses the causes and effects of this trend. Today, as we move into spring, we can sketch a first general assessment of the health of the art market through four key figures. $1.3 billion – Total global fine art auction turnover in Q1 2024 worldwide. This total is down -36% compared with Q1 2023. 162,000 – The number of lots sold during the first quarter of 2024, a decrease of only -1% versus the same year-earlier period. -79% – The contraction in fine art auction turnover hammered in France: $17 million in Q1 2024 compared with $82 million in Q1 2023. 142 – The number of 7-digit results (in dollars, fees included) counted by Artprice during Q1 2024 worldwide. This compares with 261 in Q1 2023. /.../ READ MORE: https://lnkd.in/eJmGqNmQ #artmarket #artprice #auctions #artworks #auctionfineart #artworks #artcollectors #artinvestment #markettrends #auctionhouses #FineArt #lots #auctioneers #fineartauctionturnover

#artmarket #artbusiness Interesting article with good insights but fails to explain the reasoning behind auction estimates

Sotheby’s is pioneering a new auction format with "Sotheby’s Sealed", marking a shift in their approach to art sales amidst ongoing policy changes. Originally used for #luxury items such as cars, jewellery and watches, this format is now being applied to #fineart as well. In contrast to traditional auctions, 'Sotheby’s Sealed' maintains strict confidentiality regarding bid amounts, disclosing only the bidder's ranking without specific bid details or publishing any sale results. This lack of #transparency, however, has sparked concerns within the #art market, suggesting it could lead to inflated prices and erode trust in valuation standards. To me, this format seems like a middle ground between public auctions and private sales, providing us some visibility into private market offerings while retaining elements of confidentiality in bidding. How this will impact the #artmarket? Check out Kyle Castellanos analysis (and concerns) in his latest article: https://lnkd.in/d9Zpwqtr (Image: Sotheby's)

Public auction sales in the art world may be showing signs of decline; however, private sales — conducted discreetly between buyers and sellers behind closed doors — are growing. For those prioritizing privacy, this option could be beneficial. Just remember, as private sales grow, risk could also increase. If your clients are participating in a private sale, be sure they consult their advisors to ensure smooth, discreet transactions. https://cnb.cx/4bgXptd #AlliantPrivateClient #FineArt #LuxuryMarkets

I read this today, and it is true. "Those who say something cannot be done are often interrupted by those doing it!" And I have some history with this. Early in my gem and jewelry buying and selling career, I traveled the world buying things at one auction - including at all of the major auction houses, to resell them at other auctions - often tiny-in-comparison local auctioneers. A top person at Sotheby's NYC at the time saw one of their regulars talking with me during one of their auctions a few weeks earlier. Not knowing me, he asked her about me. She explained that I was buying at one auction to resell at another. He laughed, and said, "Lots of people have tried that, but it cannot be done on a regular basis." She responded, "Well that's interesting, because he and his partner are doing so well at it, that they just left on a round-the-world auction buying trip." Apparently he frowned and walked away. But I've proved them wrong over the decades - 80% of the items I purchase, I make money on, 10% I break-even on INCLUDING ALL EXPENSES, and 10% I lose money on - on average less than 10% on those items, after all expenses. Overall on items that I make money on, break-even on, and lose money on, I average a 13% ROI EVERY THREE MONTHS, reinvesting that - which works out to an annual ROI of approx. 75% a year, with practically no downside risk... So, "It" can be done!