As expected, those 50 cases of 1982 Chateau Mouton Rothschild that were up for sale this weekend sold big. The estimate for the treasure trove of elegant Bordeaux was $ $600,000 to $1.2 million and they sold for $1.05 million. The wines were just part of Park B. Smith's cellar auction which benefitted his alma mater, Holy Cross. According to Daniel Taub of Bloomberg, the 1982 Mouton went to an anonymous European phone bidder and the auction raised $5.33 million with buyer's premium. One can only hope that the new owner will pamper the wines the way Smith did in order to make the most of the investment. Smith bought the cases in 1997 for $420,500 and given the prices on Bordeaux as of late the new owner might be able to make quite a profit of his own in a decade's time.
The diamond and gold
Omega watch Buddy Holly was wearing when he died in a plane crash has
sold for $155,350. The buyer was a fan of the singer who is a collector of Buddy Holly memorabilia. The watch was
given to Holly by his wife Marie Elena Holly and was inscribed "Buddy Holly 12-1-58" on the back.
Holly's passport, which was also up for bid, sold for $26,290 to a different buyer.
lovely "Deux Femmes'' sold for 11 million pounds ($19.2 million) at Sotheby's London. The painting was the
most expensive lot in the Impressionist sale. The Gauguin went to a telephone bidder. The auction also included eight
paintings from Edvard Munch which sold for a total of 16.9 million pounds, including commission. Joan Miro's
gold-and-blue picture of a bird under a sickle-shaped moon was the number two lot at 4.6 million pounds. The
prices seems to indicate that the Impressionist market is continuing to thrive. Bloomberg notes that
European impressionists including Gauguin gained 17 percent last year, while contemporary art rose 13.8 percent.
Another prized auction item failed to meet
top estimates this week. This time we head to Sotheby's to check out the
results of the Important Old Master Paintings Auction. Although the Donatello relief we mentioned earlier, isn't a
painting it was still a part of the auction. The rare item was expected to bring in up to $6 million but actually
brought in $4.4 million. Top honors at the auction went to the Jan Van Huysum painting shown here which sold for $7.296
million. The painting is considered a masterpiece of the Dutch still life and the artist was the greatest Dutch flower
painter of the 18th Century.
few days ago we mentioned that a drawing of a torso by
Michelangelo might fetch $4 million at auction. Alas, no one was willing to pay quite that much for the drawing
which hit the block Tuesday at Christie's. Newsday
reports that auction stalled out at $3.2 million. Impressive, but not enough to meet the confidential reserve price and
so the sketch wasn't sold. The entire auction brought in $2,409,740 with the highest price, $318,400 for a Rembrandt