The five-day sale of the contents of the Château de Groussay near Paris organised by Sotheby's with the assistance of two French auctioneers between June 1st and 4th 1999 was a tremendous success.
Sotheby's expected a turnover of some 100 millions francs (US $ 16 million) for the 10,000 items collected in the past by millionnaire Charles de Beistegui and offered for sale but such estimate was crushed already on thursday night with 115 millions francs.
Some 25,000 visitors had packed the rooms of the Château during the four days preceding the sale during which some important dealers such as Bernard Steinitz and Alexis Kugel were seen bidding actively. However the bidding battle really took place phonewise with some incredible prices in the offing.
Some astonishing bids caused bewilderment regarding notably an Italian 1830 pedestal table with micromosaic top which sold for 2,5 millions francs (US $ 400,000), a pair of ebony and blackened wood console tables which reached 1,7 million francs (US $ 272,000), an early 19th Century English mirror fetched 680 000 francs (US $ 108,800), a bronze sculpture of a rearing horse in baroque style went for ten times the high estimate at 500,000 francs (US $ 80,000), a pair of cisors made in London in 1901 fetched 135 000 francs (US $ 21,600) against an estimate of 4000-6000 francs and a magnifying glass was acquired for 38,000 francs (US $ 6,080).
Alexis Kugel only bought two drawings by French artist Jacques Rigaud (1681-1754) for 280 000 FF ($ 46,080) but could not compete for two others sold respecyively at 650,000 (US $ 104,000) and 680,000 francs (US $ 108,800) while a French museum pre-empted at one million francs (US $ 160,000) the 1827 Sevres biscuit statuette representing the Duke of Bordeaux, which carried a 300,000-500,000 francs estimate and was listed as a national treasure. Meanwhile two 18th Century Meissen pots-pourris vases went for 4 millions francs (US $ 640,000). Those present at the sale found it hard to assess certain bids, which went far beyond all expectations and believed that the market had gone mad since the name of Beistegui was far from having the aura of those of the Duke of Windsor or Jackie Onassis. Adrian Darmon
The five-day sale of the contents of the Château de Groussay near Paris organised by Sotheby's with the assistance of two French auctioneers between June 1st and 4th 1999 was a tremendous success.
Sotheby's expected a turnover of some 100 millions francs (US $ 16 million) for the 10,000 items collected in the past by millionnaire Charles de Beistegui and offered for sale but such estimate was crushed already on thursday night with 115 millions francs.
Some 25,000 visitors had packed the rooms of the Château during the four days preceding the sale during which some important dealers such as Bernard Steinitz and Alexis Kugel were seen bidding actively. However the bidding battle really took place phonewise with some incredible prices in the offing.
Some astonishing bids caused bewilderment regarding notably an Italian 1830 pedestal table with micromosaic top which sold for 2,5 millions francs (US $ 400,000), a pair of ebony and blackened wood console tables which reached 1,7 million francs (US $ 272,000), an early 19th Century English mirror fetched 680 000 francs (US $ 108,800), a bronze sculpture of a rearing horse in baroque style went for ten times the high estimate at 500,000 francs (US $ 80,000), a pair of cisors made in London in 1901 fetched 135 000 francs (US $ 21,600) against an estimate of 4000-6000 francs and a magnifying glass was acquired for 38,000 francs (US $ 6,080).
Alexis Kugel only bought two drawings by French artist Jacques Rigaud (1681-1754) for 280 000 FF ($ 46,080) but could not compete for two others sold respecyively at 650,000 (US $ 104,000) and 680,000 francs (US $ 108,800) while a French museum pre-empted at one million francs (US $ 160,000) the 1827 Sevres biscuit statuette representing the Duke of Bordeaux, which carried a 300,000-500,000 francs estimate and was listed as a national treasure. Meanwhile two 18th Century Meissen pots-pourris vases went for 4 millions francs (US $ 640,000). Those present at the sale found it hard to assess certain bids, which went far beyond all expectations and believed that the market had gone mad since the name of Beistegui was far from having the aura of those of the Duke of Windsor or Jackie Onassis. Adrian Darmon
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