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AUCTION ACTION IN NEW YORK CITY Balfour & Wessels Framefinders Inc. Achieve New Record at Frame Sale Courtesy: Antiques and the Arts Weekly February 15, 2002 NEW YORK CITY - On November 13, 2001, Balfour & Wessels Framefinders Inc. held their second highly successful antique frame auction in New York City, far surpassing their first groundbreaking sale of May 17, 2001. Once again a record was broken – a rare and magnificent 1890s frame, designed by the famed architect Stanford White, reached $43,700.00. This coup follows on the heels of Framefinders’ previous auction record, also a Stanford White frame, which sold for $27,600.00.
Also present for the second time was auctioneer Alasdair Nichol. Nichol was happily surprised at the turnout and the competitive bidding that was to follow – 85 percent of the frames on the auction block were sold, and nearly all sold within or above their estimates. The total sales reached $250,000.00, with approximately $30,000.00 in post-auction sales. Some frames fetched far above their auction estimate: a Nineteenth Century Dutch-style Stanford White frame fetched $13,800.00 ($6/$8,000); a hand carved and incised frame made by Charles Prendergast also brought $13,800.00 ($12/$15,000); and an American Hudson River School frame garnered $8,050.00 ($2,500/$3,500). There were a few surprises too – a small, hand carved Foster Bros. frame measuring 8” x 10” sold for $3,220.00 ($800/$1,200), and an American,19th Century Orientalist frame, which fetched $6,900.00($2,800/$3,800).
The specialty sale was held at a new venue on East 84th Street, and buyers commented favorably on the new location. In addition to the online catalog, a printed auction catalog was published and distributed to all top galleries and collectors nationwide, in which all lots were displayed along with descriptions, estimatres and condition reports. CEO Edward Charles Balfour believes “the fact that 85% of all lots sold, and that nearly all fell within or above estimate, reflects that Framefinders Inc. intimately understands the antique frame market and the auction value of frames. In addition, the average price realized for each frame increased by 35% from our previous auction. Consequently, this will inspire confidence in future consignors who can be assured that their frames will continue to fetch higher prices.”
The antique frame market has been constantly developing and evolving, according to Balfour, and Framefinders Inc. will continue to aid this process by publishing an “auction price guide” for American and European frames in the near future. The price guide will document antique frames sold at public auction, and will serve as an indispensable source of reference for frame buyers and art collectors alike. Balfour is confident that the price guide will “help establish a market value for antique frames at auction”. In addition to its role as an auction house, the firm engages in retail sales through its Manhattan gallery, located at 454 East 84th Street. The next auction will be held in May 2002. The consignment deadline is March 31, 2002. For information, www.framefinders.com or 212-396-3896. |
As
with the gallery’s first event, the November sale attracted many of
New York’s top art galleries, art collectors, frame dealers and interior
designers, leaving standing room only for those who continued to arrive
after the event began.
Other
notable highlights included a hand carved Arts & Crafts frame by
Foster Bros. that sold for $2,990.00 ($1,500/$2,000); a pressed wood
& gilded Stanford White frame measuring 10” x 14” that sold for
$2,185.00 ($1,500/$2,000); and an Arts & Crafts frame by Hermann
Dudley Murphy that fetched $4,888.00 (est. $3,500/$5,500). A hand carved
Louis-style frame from the Eighteenth Century sold for $2,990.00 ($2,500/$3,500);
a Nineteenth Century European cassetta frame sold for $4,025.00 ($2/$3,000);
a Nineteenth Century ogee fluted cove frame sold for $5,175.00 ($1,800/$2,200);
and a Nineteenth Century Italian cassetta frame fetched $2,300.00 ($2/$2,500).
A Twentieth Century frame designed by Stanford White sold for $4,600.00
($4/$6,000); a hand carved Arts & Crafts frame measuring 25” x 30”
sold for $4,600.00 ($2,500/$3,500); an Arts & Crafts cassetta-style
frame fetched $2,070.00 ($1,500/$2,500); an unusual, hand carved Stanford
White frame made by Newcomb-Macklin reached $3,450.00 ($2/$2,500); and
a Nineteenth Century applied ornament & gilded Whistler frame sold
for $2,070.00 ($1,800/$2,200) 
Twice
a year, and maybe more in the future, frame buyers will have the opportunity
to purchase the highest-quality frames at auction prices, while frame
owners have a reliable and professional outlet to sell their pieces
to serious collectors. After the success of the second auction running,
Balfour and Wessels recognize that these much-needed specialized auctions,
which have long been available in Europe, have now found a permanent
and invaluable place in the American art world.