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Groundbreaking Auction Of American & European Frames Antiques & Auction News July 13, 2001 “As a groundbreaking event in the antique frame world, the first frame-only
auction was highly successful,” said Edward Charles Balfour, CEO of
Balfour & Wessels Framefinders Inc., of New York City. The applause
and cheering from the event’s room on the evening of May 17 reflected
the resounding success of the first such sale by the firm.
The second highest price of the evening was established for an American, 1850s, applied ornament and gilded Hudson River School frame at $12,650, far above the estimated price of $5,500 to $7,500. Of the 170 lots, over 80% sold – total sales at the auction reached just shy of the one-quarter million dollar mark. American 20th Century, Arts & Crafts frames also showed great strength – a Charles Prendergast (brother of the celebrated painter, Maurice) hand carved and gilded frame sold for $8,050. The auctioneer, Alasdair Nichol, was happily surprised by the turnout and the added e-commerce aspect of the auction. The online auction organizations, iCollector and Ebay, “piggy-backed” the venue, holding the auction live on their respective websites.
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The
audience’s excitement was prompted by the bidding war between two private
collectors for the undisputed star of the evening – a magnificent applied
ornament and gilded Stanford White frame. Estimated at $8,000 to $10,000,
the period frame sold for $27,600 and is the highest ever realized at
auction for an American frame. The end to the evening could not have
been more fitting for Edward Balfour, who has long known of the significant
role that the antique frame plays in the art world. Balfour notes that
“an antique frame auction of this quality has been long-overdue in America.
Period frame auctions are quite common in Europe even though its art
market does not equal the size of America’s market.” The need for this
niche to be filled was quite apparent as the majority of the leading
New York art galleries attended the auction.
Apart
from pioneering the largest antique frame-only auction, Balfour &
Wessels Framefinders Inc. owns a gallery, located at 454 East 84th
Street on the Upper East Side of Manhattan, and launched the revolutionary
website, www.framefinders.com. On display is an extensive online inventory
of consigned frames from all over the United States. The frames showcased
are of the highest quality, handpicked by Balfour, and represent only
a portion of the frames in the Framefinders Inc. “umbrella” of inventories.
Using the online gallery, frame buyers have an unparalleled selection
of exquisite frames, from a variety of sources, including many frame
galleries and private collectors. The company is dedicated to making
antique period frame and museum-quality replicas accessible and affordable
to art galleries, private collectors and interior designers.
Balfour
& Wessels Framefinders Inc. is committed to redefining the antique
framing industry. As a groundbreaking event in the antique frame world,
the auction on May 17 set a new standard for American period frames
to be viewed as significant collectibles in their own right. The company
will continue to hold antique frame auctions bi-annually, and period
frame consignments are being accepted for the Fall auction. If the first
auction is any reflection of the future of the antique frame in America,
Balfour assures that “these beautiful objects will find their rightful
place in history.”