Will Important Roman Bronze Statue Smash Records?

In June, Sotheby's New York will sell one of the finest Roman bronze statues ever to come to auction. The slightly less-than-life size late Hellenistic to early Roman statue of the goddess Artemis accompanied by a stag looking up at her, is estimated to bring $5-$7 million.  The statue will smash this record and, if it breaks through the $10-million mark, will likely drive antiquities prices generally higher across the market.

Several factors are driving interest in this statue. First, it is being de-accessioned (not without significant controversy) by the Board of Directors of the Albright-Know Art Gallery in Buffalo. The museum has changed its charge and is selling 200 objects (paintings, pre-Columbian and Indian objects, African art etc.) to fund its new mission as an institution specializing in contemporary art.

Second, the statue is complete, in superb condition, and large. There are few surviving ancient bronze sculptures comparable in any of the world's museums.

Third, the statue is simply beautiful. It exudes Hellenistic sensitivity, harmony, and movement. Her arms are extended, her gaze focused and alive, and her flowing drapery so masterfully rendered that it appears layered and transparent.

Fourth, the statue not only has impeccable museum provenance, but left Italy around 1933 with a government export license so the buyer is immune from any attempts by the Italians to attempt to reclaim her.

Fifth, the dollar's weakness against Euro and the Sterling Pound continue to make antiquities in the USA look like comparable bargains.

Several of the world's best endowed museums will be competing with top private collectors. Several Middle Eastern oil families known to be amassing antiquities collections, and also flush with cash, will also likely be undeterred. 

No doubt the competition for Artemis will be fierce, and is almost guaranteed a world record.

Comments

[Ancient One]

The first phase of the auction has shattered all expectations:
"Having endured the low blows of highbrow critics, the Albright- Knox’s auction of off-mission antiquities netted it more money — $16.1 million — Tuesday than was estimated for the entire six-session sale."