Western antiquities, Samson Spanier
Phoenix Ancient Art
Posted in Apollo magazine:
http://www.apollo-magazine.com/article.php?issue=back&month=12&year=2004&id=10
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Western antiquities
Samson Spanier
The past year has seen a concerted effort by auction houses and dealers to
put past troubles in the market behind them, and concentrate on
well-provenanced objects of high quality.
1 Head of Tiberius, Roman, c. ad 14. Parian marble. Acquired by the Carlos
Collection of Ancient Art in 2003.
Photo: Bruce White
The turbulence experienced by the antiquities market in recent years was
thought at times to be severe enough to damage greatly, or even bring down,
the entire trade. Riddled with criminal convictions, lootings in Iraq,
cancelled art fairs, new import laws, and ever-growing restitution and
provenance demands, many speculated that these issues were just too heavy
for the market to bear. However, a surprising resilience and unexpected
buoyancy has emerged during the past year. This upswing is due in large part
to the positive, proactive stance taken by auction houses and private
dealers, who have proven that they are willing and able to meet the growing
demands from museums and private collectors for beautiful and legitimate
objects. This transformation has slightly reduced the size of the market,
which is now dominated by those objects demonstrating importance, aesthetics
and excellent provenance.
Compared to the huge prices realised in the modern and contemporary markets
lately, antiquities provide an excellent opportunity for the collector who
seeks to purchase great art within a reasonable budget. The global market
for antiquities is still much undervalued, as great objects, including
ancient jewellery, can be purchased for as little as $1,000. Joanna van der
Lande, director of antiquities at Bonhams in London, comments on their
strategy for attracting new buyers to the market: 'We strongly believe in
offering the lower value lots of Ł1,000 and less which enable new collectors
and dealers or those with a more modest pocket to participate in this
market.'
This value-based approach is certainly a much-needed balance to the many
world records attained in the past year, a fact that has swayed some
established antiquities collectors to let go of part or all of their
collections. Great works are now regularly surfacing at sales from renowned
private collections, giving the market a much-needed dose of credibility and
an infusion of excitement. Hicham Aboutaam, co-founder of Phoenix Ancient
Art sa in Geneva, comments on this development: 'It has been exciting to see
that the upsurge in prices has tempted some individuals whose collections
have been dormant for years to offer their possessions, which has led to
more spectacular artworks coming to the market for the first time.'
An important new trend of 2003-2004 saw private collectors bidding for
themselves for top lots at public auction. In December 2003, Christie's in
New York sold an impressive Roman bronze figure of an emperor, dated to the
2nd/3rd century ad at $1,799,500, the year's highest price for any antiquity
at auction. It went from a renowned collector, Asher Edelman, to another
private collector. At Sotheby's sale in June 2004, six of the top ten lots
sold to private collectors, including two objects - an Egyptian granite head
of a king and a Syrian bronze figure of a warrior - selling to the same New
York private collector bidding for himself in the room. Also in June 2004,
Christie's sale in New York had private collectors from the us and Europe
bidding in full force, successfully obtaining seven of the top ten lots,
including a remarkable Roman marble torso of Hercules, of about the 1st-2nd
century ad, sold to an American private collector for $791,500, a world
auction record price for a Roman marble torso.
This trend is due in part to the positive changes made by the auction
houses, which are making efforts to publish as much of an object's known
history as possible. Dealers are certainly aware of the growing demand from
collectors and museums alike for verifiable provenance. Robert Haber,
director of Robert Haber & Co. Ancient Art in New York, notes, 'Within the
complex world of the ancient art market it is becoming more apparent that a
good provenance has a very positive effect on the value of a work of ancient
art.'
However, Jasper Gaunt, curator of Greek and Roman art at the Michael C.
Carlos Museum in Atlanta asserts that 'provenance is a crucial aspect that
must be considered, but it is not the overriding factor. Beauty and
importance are also significant: by far the most important aspect to
consider when acquiring an object is the object itself.' Among the works
recently acquired by the Carlos Museum is arguably one of the finest Roman
imperial portraits in America and certainly the finest portrait of the
Julio-Claudian emperor Tiberius. Purchased by Gaunt from the us trade in
2003, with a provenance dating back to the 1960s, this monumental marble
portrait is one of the most impressive acquisitions in the museum's history.
Collectors' demand for provenance has created another interesting trend.
Antiquities dealers that in previous years kept an intentionally low
profile, rarely opening their gallery doors to the public, have recognised
that education and connoisseurship are fundamental aspects of keeping the
trade alive. Last year Ward & Co. held a museum-quality show of Byzantine
and medieval art at their Park Avenue gallery in New York. Phoenix Ancient
Art plans to bring its Geneva exhibition 'Idols and Mediterranean cult
objects' to its New York gallery this December.
2 Head of a nobleman (The Josephson Head), Egyptian, c. 1878-41 bc. Red
Quartzite, 18.5 x 24 x 21 cm. Acquired by the Museum of Fine Arts, Boston,
in 2003 from a private collection. Open market estimate: in excess of $2
million
3 Constable-Maxwell cage cup, c. ad 300. Blown or cast glass, diam 18.2 cm.
Bonham's, London. Highly Important Antiquities (14 July 2004), Ł2.65m
4 Torso of Hercules, Roman, c. 1st-2nd century ad. Marble, ht 132 cm.
Christie's, New York, Antiquities
(8 June 2004), $791,500
Significant acquisitions by museums throughout the world have also added a
positive facet to the antiquities market, as is revealed by the review on
pages 50-55. Qatar will soon be the beneficiary of a new museum in Doha that
will house one of the greatest ancient art collections known, if the
purchases made by Sheikh Saud Al-Thani in recent years are any indication of
what will be on view. Masterpieces recently acquired by the Sheikh are
reported to include the famous Constable-Maxwell cage-cup that sold for
Ł2,646,650 at Bonhams in London this July, breaking its own world record,
set in 1997, for the highest price ever paid for ancient glass.
Asia is back on the purchasing scene after a hiatus of several years. The
Miho Museum in Japan is home to some of the finest western antiquities in
the world, and has quietly amassed their collections by purchasing both at
auction and through the trade. It reportedly bought two important objects at
the sale at Christie's in London in October 2004 of the Leo Mildenberg
collection of ancient animals (see pages 62-63): the Middle Kingdom faience
hippopotamus that set a world record for the highest price paid for Egyptian
faience (Ł621,250); and a Mesopotamian inlaid limestone leopard dating from
the 4th millennium bc.
On the occasion of the celebrations in 2003 of the centenary of the Egyptian
collection of the Museum of Fine Arts in Boston, Rita Freed, chief curator
of Egyptian art, was encouraged by the museum's director to acquire one
incredible object that would enhance their already world-class collection.
Freed was able to purchase a masterpiece through the kindness of renowned
New York collector Jack Josephson. Nicknamed 'Nobleman' but formally
referred to as The Josephson Head, this Middle Kingdom (Late Dynasty XII,
1878-1841 BC) quartzite portrait of a man is considered by many experts to
be one of the finest Egyptian portraits known. Although the museum will not
divulge the cost of the sculpture, it is thought that it would easily sell
in the $2 million-range on the open market.
The December New York antiquities sales continue to impress, including
beautiful objects with solid and interesting provenances, such as the famous
'Marlborough cameo' at Christie's (see pages 40-41). In turn, Sotheby's will
offer the Charles Pankow collection of Egyptian art, one of the largest
private collections of fine Egyptian antiquities to appear on the market in
recent memory, assembled in the 1970s and early 1980s. Among the many
highlights are an alabaster jar inscribed for King Merneptah (1213-1204 BC)
discovered in the king's tomb by Howard Carter shortly before he discovered
the tomb of Tutankhamun, and an impressive bronze figure of the god Osiris,
formerly in the renowned Hilton Price collection, which was sold by
Sotheby's, London, in 1911. Notable recent prices 2002-2004
Western antiquities
Roman bronze figure of an emperor, c. 2nd-3rd century ad, (Christie's, New
York, 11 December 2003) - $1,034,195
Greek marble head of a horse, 6th century BC, (Boisgirad, Paris, 7 October
2004) - ?2,849,259
Roman fluorspar cup ('The Barber cup'), c. AD 1st century, (Charles Ede,
London, January 2004) - Ł150,000
The 'Constable-Maxwell cup', c. ad 300, (Bonham's, London, 14 July 2004) -
Ł2,646,650
Egyptian faience hippopotamus, (Christie's, London, 27 October 2004) -
Ł621,250
Egyptian limestone bust of a man, 5th Dynasty, 2520-2360 BC, (Sotheby's, New
York, 9 December 2003) - $232,000
End of article
For information, contact "Hicham Aboutaam" at Phoenix Ancient Art at
http://www.phoenixancientart.com/contactphoenixancientart.html
