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Auction Houses in the News

Sotheby’s loses $32.6M in third quarter, but total revenue up

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Written by Auction House new release   
Friday, 09 November 2012 18:30

Sotheby's headquarters at York Avenue and 71st St. in New York City. Photo by Jim Henderson.

NEW YORK – Sotheby's (NYSE: BID) today announced financial results for the third quarter and first nine months ended Sept. 30. The company reported a net loss of $32.6 million in the third quarter, while total revenues increased.

Sotheby’s reported third quarter 2012 revenues increased 18 percent, to $68.5 million, driven by a $4.9 million, or 50 percent, improvement in private sale commission revenues and a $1.6 million, or 56 percent increase, in finance segment revenues. Largely due to these revenue increases, the company reported a pretax loss of $46.4 million for the quarter, compared to a pretax loss of $57.9 million in the prior year – an $11.5 million, or 20 percent, improvement.

For the three months ended Sept. 30, 2012, Sotheby’s reported a net loss of $32.6 million, which reflects a slight $2.8 million deterioration from the prior year due to an $11.6 million tax benefit recognized in the third quarter of 2011 as a result of the reversal of a valuation allowance against certain Sotheby’s deferred tax assets.

Because of the seasonal nature of the art auction market, third quarter auction sales have historically represented approximately 7 percent to 10 percent annual auction sales resulting in a loss period for the company.

Third quarter results are typically not indicative of expected full year results. Management believes that investors should focus on results for six- and 12-month periods, which better reflect the auction market business cycle.

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ADDITIONAL IMAGE OF NOTE

 Sotheby's headquarters at York Avenue and 71st St. in New York City. Photo by Jim Henderson.

Last Updated on Monday, 12 November 2012 10:54
 

Post-storm notice: Leighton Galleries extends consignment times

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Written by ACNI Staff   
Tuesday, 06 November 2012 17:33
Among the items already consigned to Leighton Galleries' Dec. 6 auction is this enameled diamond and opal cocktail ring, est. $600-$700. Leighton Galleries image.

ALLENDALE, N.J. – Due to the impact of Hurricane Sandy, New Jersey’s Leighton Galleries is extending its dates and hours for acceptance of consignments to their planned Dec. 6 auction.

Leighton’s management invites potential consignors to bring items to the company’s gallery from 10 a.m. till 4 p.m. on Friday, Nov. 9 and Monday Nov. 12. The Dec. 6 auction features fine jewels, but sterling silver, fine art and other valuable objects will also be accepted for consignment.

Leighton Galleries is located at 6-C Pearl Court in Allendale, NJ 07401. For additional information, call 201-327-8800 or e-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Visit the company online at www.leightongalleries.com.

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ADDITIONAL IMAGE OF NOTE
Among the items already consigned to Leighton Galleries' Dec. 6 auction is this enameled diamond and opal cocktail ring, est. $600-$700. Leighton Galleries image.
Last Updated on Tuesday, 06 November 2012 17:42
 

Castner’s reschedules Nov. 3 auction; new date: Nov. 17

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Written by ACNI Staff   
Friday, 02 November 2012 10:45

Lot 92, pearl necklace and pendant in 18K gold setting, 16 inches long. Est. $200-$500. Castner's Auction image.

BRANCHVILLE, N.J. – Castner’s Auction, Appraisal & Estate Service LLC is rescheduling its Nov. 3 auction due to a power outage following Hurricane Sandy. The 203-lot sale of jewelry, coins, decorative and fine art will now be held on Saturday, Nov. 17, 2012, with a start time of 4 p.m. Eastern.

To enquire about any item in the auction, call 973-948-3868.

View the fully illustrated catalog and sign up to bid absentee or live via the Internet at www.LiveAuctioneers.com.

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View the fully illustrated catalog and register to bid absentee or live via the Internet as the sale is taking place by logging on to www.LiveAuctioneers.com.


ADDITIONAL LOTS OF NOTE

Lot 92, pearl necklace and pendant in 18K gold setting, 16 inches long. Est. $200-$500. Castner's Auction image. 

Last Updated on Friday, 02 November 2012 11:02
 

New Jersey's Bertoia Auctions issues post-storm statement

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Written by ACNI Staff   
Wednesday, 31 October 2012 15:41
Marklin “Jolanda” clockwork luxury yacht with canopy over bow, circa 1915-1925, 16 inches long, est. $25,000-$27,000. Bertoia Auctions image.

VINELAND, N.J. - Situated only 38 miles from the Atlantic Ocean, Bertoia Auctions might have seemed an unavoidable target as Hurricane Sandy barreled up the East Coast on Monday. "But miraculously, we were spared," said the firm's owner, Jeanne Bertoia. "In fact, we never even lost our power, telephone or Internet service."

Bertoia believes her gallery in Vineland avoided the storm's destructive fury because of the particular path it took as it moved across coastal New Jersey toward New York. "The eye of the storm passed right through the city of Vineland. That was what saved us," she said.

Today Bertoia's issued a statement thanking customers for the "many thoughtful phone calls and e-mails" received after the storm. The statement also assured  customers that business has continued without interruption at the gallery.

The statement reads, in part: "We want to assure you that our Saturday, Nov. 10 auction of the Dick Claus Collection Part II will take place as originally scheduled, with a start time of 1 p.m., Eastern US time. If you have arranged for a telephone line or plan to bid absentee or live via the Internet through LiveAuctioneers.com, please be assured that there has been no disruption and there is no reason for concern. Absolutely everything is running smoothly as we make our final preparations leading up to the sale."

Jeanne Bertoia also noted that roads between I-95 and Vineland are clear and unaffected by flooding. "We look forward to greeting a full house of bidders on auction day," she said.

View the fully illustrated catalog for the Nov. 10 auction of the Dick Claus Antique Toy Boat & Nautical Toy Collection - Part II and sign up to bid absentee or live via the Internet at www.LiveAuctioneers.com.

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View the fully illustrated catalog and register to bid absentee or live via the Internet as the sale is taking place by logging on to www.LiveAuctioneers.com.


ADDITIONAL LOT OF NOTE
Marklin “Jolanda” clockwork luxury yacht with canopy over bow, circa 1915-1925, 16 inches long, est. $25,000-$27,000. Bertoia Auctions image.
Last Updated on Thursday, 01 November 2012 10:37
 

Gray’s Auctioneers reschedules fall auction to Nov. 7-8

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Written by ACN Staff   
Tuesday, 30 October 2012 15:15

Roy Ahlgren (1927-2011) ‘Blue Divide,’ acrylic on canvas. Gray’s Auctioneers image. CLEVELAND – The havoc caused by Superstorm Sandy reached Northeast Ohio on Monday night, prompting Gray’s Auctioneers to postpone their big fine art and antiques auction, which had been scheduled for Wednesday and Thursday. The sale has been moved back one week to Nov. 7 and 8, according to Gray’s CEO Serena Harragin.

The auction will begin at 11 a.m. EST each day and will proceed as usual. Preview for the auction has been extended until Tuesday, Nov. 6. Gray's will be open for viewing from 11 a.m. to 6 p.m. during the week and on Saturday from noon to 4 p.m.

For details visit www.graysauctioneers.com or phone 216-458-7695.
Last Updated on Tuesday, 30 October 2012 16:37
 

Storm Notice: Cowan's urges absentee bids for Oct. 31 auctions

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Written by Auction Central News International Staff   
Monday, 29 October 2012 14:05

Lot 132 in Cowan's Oct. 31 auction is a female bronze by Erté (French, 1892-1990).  Hand patinated with chemicals and gold leaf, oval shaped granite base, stamped on the base © 1989 CHALK & VERMILION AND SEVENARTS / Erté's signature / 181/395; Ht. 21.5 in. Image courtesy of Cowan's.

CINCINNATI - Cowan's Auctions is recommending absentee bidding through LiveAuctioneers.com as an alternative method for anyone who plans to bid in their Oct. 31 sales and who may be affected by Hurricane Sandy. The 218-lot of modern and contemporary ceramics aucton is scheduled to begin at 10 a.m. EST (7 a.m. Pacific). The 207-lot auction of 20th-century art and design, and photographs is scheduled to begin at 1 p.m. EST (10 a.m. Pacific) on Wednesday.

"While we are physically located in Cincinnati, Ohio, we recognize that many of you may be affected by Hurricane Sandy. At this time we are still planning to conduct the auction," Cowan's wrote in an e-mail sent out today to those already registered for the sale. "The staff at Liveauctioneers has assured us that there will be no interruption of service in the electronic bidding platform. We recognize, however, that some of you may be without power, and therefore with access to the internet." As an option, Cowan's is recommending absentee bidding through LiveAuctioneers and assures one and all that their bids "will be executed competitively."

Anyone with questions is asked to contact Cowan's at 513-871-1670.

View the fully illustrated catalog and sign up to bid at http://www.liveauctioneers.com/catalog/33220_20th-century-art-design-and-photographs/page1

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ADDITIONAL IMAGE OF NOTE

Lot 132 in Cowan's Oct. 31 auction is a female bronze by Erté (French, 1892-1990).  Hand patinated with chemicals and gold leaf, oval shaped granite base, stamped on the base © 1989 CHALK & VERMILION AND SEVENARTS / Erté's signature / 181/395; Ht. 21.5 in. Image courtesy of Cowan's.

 

Last Updated on Tuesday, 30 October 2012 08:43
 

Notice of early closure: Skinner Inc. galleries

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Written by Auction House PR   
Monday, 29 October 2012 11:10

BOSTON - Skinner Inc. advises its galleries in Boston and Marlborough, Mass., will close at 1:00 p.m. today, October 29, 2012, due to Hurricane Sandy.

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Last Updated on Monday, 29 October 2012 11:17
 

Frederick Rhead tile panel sells for $637,500 at Rago auction

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Written by Auction House PR   
Monday, 29 October 2012 10:21

The University City four-part tile panel by Frederick H. Rhead sold for $637,500. Rago Arts and Auction Center image.

LAMBERTVILLE, N.J. – An important four-part tile panel by renowned ceramicist Frederick H. Rhead sold for $637,500 at an auction conducted by Rago Arts and Auction Center on Saturday. The presale estimate for the unique work was $35,000-$45,000.

David Rago said Two Red Roses Foundation of Palm Harbor, Fla., was the buyer. According to the foundation's website, Two Red Roses Foundation is a nonprofit educational institution dedicated to the acquisition, restoration and public exhibition of important examples of the American Arts & Crafts movement. It was founded by Florida businessman Rudy Ciccarello, who has assembled one of the largest personal collections of Arts & Crafts in America.

Rago described the tile panel as "extraordinary," noting it was created by one of the top ceramic artists of the era.

Rhead created the 20 3/4-inch-square panel, which depicted a peacock, in 1910 during his tenure at University City pottery near St. Louis. The panel was a personal gift from Rhead to friend and Weller Pottery colleague Levi Burgess, for his Zanesville, Ohio, residence.

Rago said the home is still standing in Zanesville, and that he thought the tile panel was removed from the structure about 10 years ago. He said the panel was in excellent condition except for a small flat chip.

The panel, signed "Frederick H. Rhead, U.C. 1910," is documented in Sharon Dale’s book Frederick Hurten Rhead: An English Potter in America, p. 64, fig. 72.

Rhead also worked for the Roseville Pottery, the American Encaustic Tiling Co. and at his own studio in Santa Barbara, Calif.

The sale of the tile panel was one of the many highlights of Rago’s three-day auction of 20th-21st century furnishings and decorative arts.

Click here to view the fully illustrated catalog for this sale, complete with prices realized.


ADDITIONAL LOTS OF NOTE

The University City four-part tile panel by Frederick H. Rhead sold for $637,500. Rago Arts and Auction Center image.

Last Updated on Wednesday, 31 October 2012 13:06
 

Robert McNamara’s effects top $1M at NY auction

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Written by Associated Press   
Thursday, 25 October 2012 10:20

President John F. Kennedy meets with Secretary of Defense Robert McNamara in the Cabinet Room on June 1962. Image by Cecil Stoughton, courtesy of Wikimedia Commons.

NEW YORK (AP) – A silver paperweight that President John F. Kennedy gave to Secretary of Defense Robert McNamara after the Cuban missile crisis sold for $95,500 at an auction Tuesday of McNamara's personal effects, Sotheby's said.

McNamara, who died in 2009, served as the head of the Pentagon from 1961 to 1968, first for JFK and then for President Lyndon B. Johnson. He was part of that decade's major events – including the Bay of Pigs invasion of Cuba in April 1961, the Cuban missile crisis, and the escalation of the Vietnam War.

The collection of letters, photographs and other items is “sort of a capsule visual history of the 1960s, which is certainly one of the most divisive yet vibrant decades in American history,” said Selby Kiffer, senior vice president of books and manuscripts and one of the main auction organizers.

Kiffer said the paperweight, with a presale estimate of between $15,000 and $20,000, was one of a relative few that were made.

He noted that the auction coincides with the 50th anniversary of the missile crisis, a tense 13-day nuclear standoff between the United States and the Soviet Union.

Afterward, Kennedy gave McNamara and others the paperweight with the October 1962 calendar page on it, the days of the conflict standing out and his and the recipient's initials on top.

The items up for sale from McNamara's personal archive also included a document signed by Kennedy that formally appointed McNamara to his position. It sold for $20,000 against estimates of $10,000 and $15,000.

Two chairs from the Kennedy administration's Cabinet Room, accompanied by a letter signed by Jacqueline Kennedy, fetched $146,500. It had an estimate of $150,000 to $250,000.

Tuesday's auction brought in a total of $1,008,571, Sotheby's said.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

AP-WF-10-24-12 0151GMT



ADDITIONAL IMAGE OF NOTE

President John F. Kennedy meets with Secretary of Defense Robert McNamara in the Cabinet Room on June 1962. Image by Cecil Stoughton, courtesy of Wikimedia Commons.  

Last Updated on Thursday, 25 October 2012 10:40
 

Reality television show to film at auction house in Beaufort, S.C.

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Written by Associated Press   
Monday, 15 October 2012 10:37
BEAUFORT, S.C. (AP) - Beaufort will be the setting for a new reality television show.

The Beaufort Gazette reported that Jeff Lowe of Beaufort Liquidation says his company and auction house will be the focus of an as-of-yet untitled reality show similar to Pawn Stars, Storage Wars and Baggage Battles.

Lowe says the show will air on A&E.

People interested in buying and selling liquidated goods at auction are being sought to audition for the program.

Lowe says the crew will film an Oct. 20 auction.

He says the crew wants to see how he operates in taking trucks from stores like Walmart and Kmart.

Lowe says one plot will be the liquidation business and the second will deal with how someone can earn money by selling a pallet of random items.

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Information from: The Beaufort Gazette, http://www.beaufortgazette.com

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Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Last Updated on Monday, 15 October 2012 10:51
 

James Bond movie prop auction raises $2.6M for charity

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Written by Auction House PR   
Wednesday, 10 October 2012 10:46

From left: Christie's International Director, Auctioneering Hugh Edmeades, with former 007 Sir Roger Moore, who had a bit of fun with a Daniel Craig face mask, which he holds in his hand. Image courtesy Christie's Images Ltd. 2012.

LONDON – To celebrate the 50th anniversary of James Bond on film, Christie’s and EON Productions presented "50 Years of James Bond – The Auction" on Friday evening, Oct. 5. Offering international fans and collectors the unique opportunity to acquire a piece of Bond memorabilia direct from the archives of EON Productions as well as donations from Bond cast, the combined evening and online charity auction was 100 percent sold, realizing a total of £1,641,350 / $2,644,442 / €2,034,999.

Bids were received from 42 countries around the world, with new clients to Christie’s accounting for 40 percent of the bidders within the online auction.

On Global James Bond Day, Christie's and EON Productions presented a live evening charity auction of 10 star lots of memorabilia directly from EON's archives, plus one surprise addition, in celebration of 50 years of James Bond on screen. The auction realized £752,050 / $1,214,448 / €934,046 with proceeds from each lot set to benefit specific charitable institutions. Auctioneer Hugh Edmeades led proceedings, assisted by several guest auctioneers including Sir Roger Moore, Michael G. Wilson, Dame Judi Dench, Samantha Bond, Lucy Fleming, David Walliams, Lindy Hemming and Maryam d’Abo.

The top lot of the live auction was an Aston Martin DBS used by Daniel Craig as James Bond in Quantum Of Solace and sold to benefit Barnardo's. A bidding war between the Internet, telephones and those in attendance resulted in the final price of £241,250 / $390,101 / €299,633. The car was purchased by an anonymous telephone bidder.

An Automatic Seamaster Professional Planet Ocean wristwatch, by Omega, worn by Daniel Craig as James Bond, a unique piece specially made in titanium for action scenes in Skyfall was sold to benefit ORBIS. The winning bid came from a telephone bidder, who bought the wristwatch for £157,250 / $254,273 / €195,305.

A pair of swimming trunks worn by Daniel Craig as James Bond in Casino Royale and sold to benefit Women For Women realized £44,450 / $71,876 / €55,207. The trunks were purchased by a bidder in the room.

A surprise late addition to the sale was the orchestral score for the theme song Skyfall, signed on the cover by Adele and co-writer Paul Epworth, which sold for £13,750 / $22,234 / €17,078 to a bidder in the saleroom.

Those who were unable to take home a piece of Bond from the evening auction continued bidding online until 2 p.m. on Monday. The online auction realized £889,300 / $1,429,994 / €1,100,953. Launched on Sept. 28 on Christies.com, the online sale consisted of 42 lots encompassing props, costumes, jewelery and more, from every one of the 23 official James Bond films, including the forthcoming Skyfall sold to benefit UNICEF. Within the first 90 minutes of the auction every item listed had received bids.

A pre-production replica BMW Z8 roadster made for The World Is Not Enough more than doubled the estimate to sell for £84,000 / $135,072 / €103,992 to a private UK collector.

A poker table from The One & Only Ocean Club in Casino Royale as well as a collection of prop One & Only Club poker chips, money and playing cards proved to be an incredibly popular lot, selling for £84,000 / $135,072 / €103,992.

An original prop Solex Agitator used by Christopher Lee as Scaramanga in The Man With The Golden Gun, central to the plot and seen throughout the film realised £54,000 / $86,832 / €66,852.

Nicolette Tomkinson, director, Christie’s commented, “It has been a privilege to be a part of EON Productions’ global celebrations to mark the 50th anniversary of "James Bond. 50 Years of James Bond – The Auction" was an unprecedented event, presenting memorabilia directly from EON’s archives, from every official Bond film ever made. The excitement surrounding Christie’s sale and exhibition, which welcomed over 1,000 visitors per day, is testament to the enduring appeal of the Bond film franchise, whose fan base is truly worldwide, spanning several generations.”

Michael G. Wilson and Barbara Broccoli, producers, EON Productions commented, “What better way to celebrate the 50 year anniversary than by supporting UNICEF and the 11 additional charities who will be benefitting from the auction items donated by the Bond archive and supporters. The generosity and dedication of Bond fans will enable the charitable organizations to continue their good work.”



ADDITIONAL IMAGES OF NOTE

From left: Christie's International Director, Auctioneering Hugh Edmeades, with former 007 Sir Roger Moore, who had a bit of fun with a Daniel Craig face mask, which he holds in his hand. Image courtesy Christie's Images Ltd. 2012.

Top lot of the sale was (left) a 2008 Aston Martin 6-Liter V12 DBS 2-Door Coupe used by Daniel Craig as James Bond in 'Quantum of Solace.' It sold at Christie's to an anonymous phone bidder for $390,101. Image courtesy of Christie's Images Ltd.

Lucy Fleming, niece of James Bond author Ian Fleming. Image courtesy Christie's Images Ltd. 2012.

From left: Kristina Tholstrup (wife of Sir Roger Moore), Sir Roger Moore, and EON Productions' Michael G. Wilson and Barbara Broccoli. Image courtesy Christie's Images Ltd. 2012.

Auction front row (left to right): English comedian and actor David Walliams, British conservationist David Mills, Dame Judi Dench, who stars as 'M' in the James Bond film series; and Lindy Hemming, who designed costumes for the James Bond films from 'GoldenEye' (1995) through 'Casino Royale' (2006). Image courtesy Christie's Images Ltd. 2012.

Pierce Brosnan poses, in his role as James Bond, with the pre-production replica BMW Z8 Roadster made for the film 'The World is Not Enough.' It sold to a private UK buyer for $135,072 in Christie's online auction celebrating 50 years of James Bond.

Last Updated on Thursday, 11 October 2012 13:41
 

Sotheby’s 5-day sale in Hong Kong exceeds $200M

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Written by Auction House PR   
Wednesday, 10 October 2012 09:48
Pair of yellow ground famille rose double-gourd vases, seal marks and period of Qianlong. Sold to a private Hong Kong buyer for 107,060,000 HKD ($132,256,641 US). Sotheby's image. HONG KONG – Sotheby’s Hong Kong five-day Autumn Sale 2012 Series that concluded Tuesday achieved over HK$2 billion / US$260 million with over 3,150 lots sold.

Estimates were in excess of HK$1.6 billion / US$200 million.

The autumn sale series followed Sotheby’s announcement last week on its joint venture with Beijing GeHua Art Co., which allows the company, as the first international fine art auction house, to sell art in China.

The auctions marked several achievements including a record sale of Modern and Contemporary Southeast Asian Art, an auction record for a Southeast Asian painting and for the artist Lee Man Fong, as well as an auction record for the contemporary Chinese artist Liu Wei.

Also, the series achieved the strongest total for a wine sale series in Hong Kong in 2012, a record for a various-owner sale of watches at Sotheby’s worldwide and a DIF diamond necklace totalling 88.88 carats fetched HK$39.86 million / US$5.1 million.

For traditional Chinese art categories, the Fine Chinese Paintings sale doubled its estimate and a pair of enameled double-gourd vases from the Qianlong period brought the astonishing price of over HK$107 million / US$13.8 million in the Chinese ceramics and works of art sale.



ADDITIONAL IMAGES OF NOTE
Pair of yellow ground famille rose double-gourd vases, seal marks and period of Qianlong. Sold to a private Hong Kong buyer for 107,060,000 HKD ($132,256,641 US). Sotheby's image.
Lee Man Fong, 'Fortune and Longevity.' Sold for: 34,260,000 HKD ($4,392,308 US) to an anonymous bidder. World record for any Southeast Asian painting at auction and a world record for the artist at auction. Sotheby's image.
Liu Wei, 'Revolutionary Family Series –  Invitation to Dinner,' oil on canvas, framed, 1992. Sold for: 17,460,000 HKD ($2,238,462 US) to a private Asian bidder. World record for the artist at auction. Sotheby's image.
Last Updated on Thursday, 11 October 2012 13:43
 

Century-old $5 Alaska bill could be worth $300,000

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Written by RACHEL D'ORO, Associated Press   
Thursday, 04 October 2012 09:16

1905 First National Bank of Fairbanks, Alaska, $5 bill. Heritage Auctions image.

ANCHORAGE, Alaska (AP) – The $5 bill displayed for decades on Charles Fairbanks IV's wall was long a treasured family heirloom from Alaska. Now, to the surprise of the grandson of a turn-of-a-century vice president, it's also become a likely treasure trove.

The rare find is expected to fetch as much as $300,000 at auction this month when a Texas auctioneer plans to put it up for bids in Dallas and online as part of the American Numismatic Association National Money Show.

The bill was presented in 1905 to Vice President Charles W. Fairbanks – Theodore Roosevelt's No. 2 – and was from the First National Bank of Fairbanks, Alaska. The family has had it in their possession ever since and recently decided to auction it off through Dallas-based Heritage Auctions.

“It's a wonderful, wonderful find,” said Dustin Johnston, director of Heritage's currency auctions.

Auction officials say the Fairbanks bill that features an image of President Benjamin Harrison is a highlight that's expected to sell for $200,000 to $300,000. The minimum starting bid is $120,000.

Fairbanks always knew the bill was special, at least to his family, given that it was presented to the former vice president as a memento from the frontier city named after him.

Fairbanks learned last year that the uncirculated note's estimated value had skyrocketed far beyond the estimate of $50,000 to $60,000 set in the mid-1990s, which prompted him to start locking it up whenever he traveled.

With the new estimate, the 66-year-old great-grandson no longer felt comfortable displaying it on a wall in his Santa Barbara, Calif., home.

It was no longer just a framed family keepsake, so off it went to a safety deposit box.

“Why stress out and worry about something?” Fairbanks said. “It'd be like having a Monet in the house.”

But keeping it hidden didn't do anyone any good. So Fairbanks decided to consign it to Heritage Auctions. He said his family has plenty of other historical memorabilia, or he wouldn't have done it.

Charles W. Fairbanks was a U.S. senator from Indiana in the late 1890s when he was credited with playing a key role to resolve a border dispute with Canada triggered by the Klondike Gold Rush. As a result of his efforts, most of the disputed territory went to the United States.

But the real reason the city of Fairbanks was named after him was because he played a key role in the appointment of a federal judge, James Wickersham, a man Fairbanks met during the border dispute, according to University of Alaska Fairbanks historian Terrence Cole. To return the favor, Wickersham urged city founders to call the settlement Fairbanks.

“He said, ‘I owe everything that I am to him,’” Cole said.

Auction officials also note the bill's rarity. Only three banks in Alaska – out of more than 12,000 banks nationwide – issued the bills.

The Fairbanks bill was just one of four notes of its kind in the $5 denomination that were issued in 1905 by a now-defunct Alaska bank and only one of two known to still exist, according to Dustin Johnston, director of Heritage's currency auctions. The other bill sold 15 years ago for close to $100,000 and the market has “really picked up for the rarest pieces,” he said.

Johnston said the bill is unfolded and there is no wear. Its color is a little muted because the family displayed it for so long. There also have been some minor restorations to the back corners, but Johnston doesn't expect that to affect the selling price, given the bill's rarity, pedigree and history.

It's probably one of the better national bank notes that will come to auction over this decade, he said.

“It's easily in the top five of what I've handled,” Johnston said.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

AP-WF-10-03-12 1324GMT



ADDITIONAL IMAGES OF NOTE

1905 First National Bank of Fairbanks, Alaska, $5 bill. Heritage Auctions image.

Back of the Alaska $5 note. Heritage Auctions image.

Last Updated on Thursday, 04 October 2012 10:37
 

Auction house burns to the ground on final day

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Written by Associated Press   
Monday, 01 October 2012 16:27
SCOTTSVILLE, Ky. (AP) - An auction house open for 50 years in Scottsville was destroyed by fire on its final day of business, and its owners say they had no insurance.

The fast-moving fire gutted the Wagon Wheel Antique Mall and Auction Company last Thursday.

Owner Jerry Whitney told The Daily News he and his wife were planning to move the business to another building. They had hoped to use money from the final day of sale to pay their first month's rent at a new location.

Fire officials said there were no injuries and the cause had not been determined.

Whitney said he and his wife were inside with some customers when the fire started and he tried to put it out with his hands, but it spread rapidly.

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Information from: Daily News, http://www.bgdailynews.com

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Last Updated on Monday, 01 October 2012 16:29
 

Lecture a highlight at Rago auction preview Oct. 24

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Written by Auction House PR   
Monday, 01 October 2012 14:00

Le Corbusier (Charles Edouard Jeanneret, French 1887-1965). Image courtesy Rago Arts and Auction Center.

LAMBERTVILLE, N.J. - Rago Arts and Auction Center will host an open house on Thursday, Oct. 25, featuring a talk by George H. Marcus, adjunct assistant professor of the history of art at the University of Pennsylvania.

"What is Modern about Modern Design," discusses how the work of the great architect/designer Le Corbusier and his interpretation of modern design continues to have an impact today.

Marcus is co-author of the pioneering design survey Landmarks of Twentieth Century Design (Abbeville, 1993) and of a forthcoming monographic study, The Houses of Louis Kahn (Yale). His other publications include Masters of Modern Design (Monacelli, 2005), What is Design Today? (Abrams, 2002), and LeCorbusier: Inside the Machine for Living (Monacelli, 2001). For over 30 years he served as director of publications and graphic design at the Philadelphia Museum of Art.

The talk takes place during preview week for Rago's 20th/21st Century Design auctions, to be held on Oct. 26-28.

The auction house opens on Thursday, Oct. 25, at noon. A reception begins at 5 p.m. Marcus will speak at 6 p.m.

RSVP to 609-397-9374 ext. 119 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it . All are welcome.



ADDITIONAL IMAGES OF NOTE

Le Corbusier, Untitled, 1930-59, lithograph, framed. Sold in Rago's October 2005 auction, lot 614. Sale price: $3,120. Image courtesy Rago Arts and Auction Center. 

Le Corbusier for Cassina. Chrome, black steel and hide adjustable chaise lounge (no. LC4). Sold in Rago's Modern Auction, April 2010, lot 1011. Sale price: $2,318. Image courtesy Rago Arts and Auction Center. 

Last Updated on Monday, 01 October 2012 14:40
 

Clars to sell installation by artist Won Ju Lim on Oct. 7

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Written by Auction House PR   
Thursday, 27 September 2012 16:45

Won Ju Lim’s installation from the Honolulu Museum of Art titled 'In Many Things to Come,' will be offered at Clars Oct. 7, Auction of Fine Art and Antiques. (Estimate $10,000 to $20,000). Clars Auction Gallery image.

OAKLAND, Calif. – Clars Auction Gallery has been selected by the Honolulu Museum of Art to represent the sale of the installation In Many Things To Come by contemporary artist Won Ju Lim (American/Korean, b. 1968). Won Ju Lim’s installation, which was on exhibit at the Clare Luce Booth Gallery at the Honolulu Museum of Art in 2006, was specially commissioned by the museum as part of their series of exhibitions of the works of international contemporary artists.

Clars will offer this work for bidding as part of the Oct. 7 auction of fine art and antiques. LiveAuctioneers.com will provide Internet live bidding.

Won Ju Lim has quickly gained international acclaim for her creation of evocative architectural forms that are illuminated by projected moving and still images, using cinematic spectacle to create animated monuments and landscapes. Through her use of color, shadows and light, she takes viewers on an imaginative journey evoking both fantasy and nostalgia.

In In Many Things to Come, Lim chose to focus on Hawaii with the premise that a visitors experience of Hawaii is, in part, a packaged commodity manufactured by a powerful tourism-industrial complex. The recognition of this aspect of Hawaii raises questions about the process of conveying, representing and remembering the essence of Hawaii. The materials used to create this work include aluminum foil and Plexiglass, papier-mache and colored glue sticks – the combination of which gives activity and vibrancy to this piece.

In all of Won Ju Lim’s work, her inspiration comes from pop culture, films and worldwide urban experiences mixing them all together to create her “haunting” installations.

Public preview will be available Friday, Oct. 5, from 1 to 6 p.m. PDT and beginning at 9 a.m. on both Saturday, Oct. 6, and Sunday, Oct. 7. To schedule a private preview, call the offices of Clars Auction Gallery at 510-428-0100 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Clars Auction Gallery is located at 5644 Telegraph Ave., Oakland, CA 94609.



ADDITIONAL IMAGE OF NOTE

Won Ju Lim’s installation from the Honolulu Museum of Art titled 'In Many Things to Come,' will be offered at Clars Oct. 7, Auction of Fine Art and Antiques. (Estimate $10,000 to $20,000). Clars Auction Gallery image. 

Last Updated on Thursday, 27 September 2012 16:58
 
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