The market for quality antiquities remains extremely strong worldwide. Three key factors are driving prices ever higher: the dwindling supply of quality antiquities; the vital role of provenance for resale; and the weak dollar which has caused an influx of overseas buyers. Evidence was crystal clear from the just concluded Sothebys and Christies auctions which are a bellwether for the overall market.
Sotheby's December 2004 sales of Antiquities brought an outstanding total of $15,152,210, far above the high estimate of $9.4 million*, and the highest total ever for a series of Antiquities sales at Sotheby's. Among the highlights of the two-day series of sales was a Bronze Portrait Head of Ptolemy of Mauretania, Roman Imperial, Julio-Claudian, circa A.D. 5-20, grandson of Antony and Cleopatra and last known descendant of the Ptolemaic dynasty, which surpassed a high estimate of $500,000 to sell for $960,000. The portrait head was included in the various owners sale of Antiquities which totaled $8,190,920, also above the high estimate of $5.7 million.
Midtown rival Christies registered $6.426 million in sales, bringing the total between the firms a staggering $21.6 million. This works out to roughly $21,000 per lot offered.
Comments