Sunday, June 1, 2014

Market Watch for May 2014

It was a vibrant month in the marketplace. There were over 320 CTs sold on EBay and over 500 lots offered in the Simmons Gallery auction that closed mid-month. These numbers add up to over 800 CTs on the hammer
     The large numbers of CTs sold were bolstered by several big sales that were conducted on EBay throughout May: xonumia sold 36 CTs between May 19-20, 22 CTs between May 21-22, plus two group lots of 17 and 20 CTs; comtok continued this month with 37 CTs on May 3rd, 26 CTs on May 14-15, and 12 more CTs on May 26; and finally, cobwrightfortishe sold 18 CTs on May 15 plus 14 more CTs on May 30.
     Examining these EBay sales, most CTs sold (257 pieces or nearly 80%) were hammered down for under $20, placing them in the C category. Another 49 CTs crossed the block in the B category (under $50), whereas only 18 CTs sold above this mark. Ten CTs sold in the BB range, five more in the A range, and three CTs (all sold with one bid) garnered AA money.
This is a true diamond CT.
It took until 1949 for this CT to be cataloged
by K&L in the Proceedings. It is a Free Church
CT attributed to N. Albion St. Chapel.
     The top three AA CTs were all English pieces sold by the same NZ dealer on May 26: 1) a round Crown Court piece from London, dated 1848, brought $130; 2) a second round piece, this one from Lloyd Street Church in Manchester, dated 1801, brought $130; 3) a cut-rectangle dated 1861 from Trinity Church in London came in at $104. All three were described as ex-Burzinski (cataloged as BZ1696, BZ4617, and BZ4436 respectively).
     The five A CTs all sold within the tight range of $75 to $87, but the bidding patterns were quite different. The most expensive piece was a Glasgow diamond, dated 1783 (KL49-46). This is a true diamond with acute and obtuse angles (not a rotated square). Nine bids were entered by eight bidders to push the hammer to $87. Most interesting was the bidding pattern: it appears that each player took a single stab at it, but no one stood their ground and defended their move. In the end, the price was fair given that a similar one sold last year for $96.
     In contrast, a Glasgow-styled square from Port Glasgow, dated 1761, soared skyward with only two bidders doing battle. This one sold for $75 after 23 bids from four bidders -- but 21 bids came from one player chipping away at an early high bid from the winner. It was a beautiful piece with the Arms of Glasgow in the center, all bold and steeped in a dark patina (BK914A) -- it does not come around often. Here is the link:  Port Glasgow CT.
     Another battle was waged over an oval from Brechin (East Parish), dated 1836. Here, three bidders made 27 moves to inflate the hammer to a whopping $81. It was an attractive piece with simple design and unusual verse (BZ999). But was the price too high? Another one was sold by Simmons Gallery last year for 6 GBP (under $10), and a second piece went unsold yesterday that was offered with a BIN of $16.50. Maybe the $81 piece was a variety(?), or it was just a bidding war!
     The two other A CTs were from England: a cut-rectangle from Warrenford (BZ7127) and a super-cool square from Etal (in Northumberland) with incused heart (BZ2467) -- the latter sold at a BIN of $83, the former traded hands for $79.
     I will leave the Simmons Gallery auction for later, or perhaps someone else can provide some analysis on this sale. Finally, I thank TH for helping with this Watch.

No comments:

Post a Comment