No question, the results of the Yves St-Laurent- Pierre Bergé sales this past week cheer the heart of everyone in the arts and antiques trade. I’m not aware that the vaunted pair had as much as a stick of English antique furniture, but, as the saying goes, a rising tide raises all boats, and one hopes it might even raise mine.
And, of course, it is the hope of all in the trade that this does betoken a rising tide. But, another aphorism, one swallow does not a summer make, but, bleak as things are, the one swallow is none the less cheering. Moreover, the three day round of sales promises to be the largest in terms of turnover of any in history. Certainly a talking point over the next few weeks with the client who may be brave enough to darken the doors of our galleries.
Who made these purchases? If you haven’t heard, you are not alone, because, it seems, few of the big collectors whose names would hit the media were much in evidence. Buyers seemed to be drawn from the ranks of a class of people who we see in the trade- the very high end ‘affiliation’ buyer. By ‘affiliation’ I mean someone who will make a purchase in a high profile environment, apparently motivated in large measure by the desire to be seen making such a purchase. Mind you, the St-Laurent-Bergé sales had some extremely fine things but it was the gilded associations that seemed to have more to do with haute-couture than a finely honed collecting aesthetic that drove prices. In terms of auction sales, this is not an unknown phenomenon. Sotheby’s Bill Blass sale of a few years ago had the same thing occur. More within my ambit, the Regency antiques Blass had utilized to exquisite effect in his apartment were sold for stratospheric prices. While of excellent quality, the prices realized clearly had tremendous value-added based on their association with Blass. When, as so often happens, some of the Blass pieces came back on the market, their cachet had evaporated, and they sold for a fraction of what they had formerly- in the unique setting and amidst the febrile competition of other fashionistas- commanded.
Within this context, it is interesting to note how much material purchased at these sorts of auctions does come back on the market within a year or two. My suspicion is that a fair amount of it is never even unpacked, if it even makes it out of the warehouse. Even people of some considerable means have enthusiasms, which enthusiasms oftentimes do not extend beyond the joy of seeing something knocked down to them. That damnable illness beloved of the salesrooms, ‘auction fever’ is no respecter of social class.
The last couple of paragraphs sound like the naked denigration of the occasional buyer of art and antiques. Frankly, times being the way they are, I am not in the financial position to run anyone down and consequently away from my front door. All our businesses are composed of a variety of clients- ranging from the serious collector who makes a few significant purchases every year, to the spot buyer who makes one purchase and then is never again seen. One person’s money- and motivation- is as good as anyone else’s. Don’t let anyone tell you any different- even me.