Rapistan Review

Gloomy start to the week.
Commerce continues .
Next up an unremarkable sale at Nagels.
Quiet .
Nothing in the way of results from the Nagel sale yet.
Up first today the results from yesterday's Nagel sale.
Well , I am sure this did not turn out the the way the Nagel staff expected it to.
Out of the 213 lots of rugs and textiles offered up only 75 found buyers. This works out to a dismal sold percentage of just under 35%.
These results were slightly lower than their last sale , on Sept. 10 , 2013 , which clocked in at 37 % sold . So they are moving in a some what negative direction ! Hardly worth the effort from a rugs sold point of view.
Unfortunately the artifact portion of the sale turned out slightly worse .2014-03-26 12.35.09
Just one item took off as far as an upside surprise .
Lot # 1 Caucasian rug pre- sale est. € 1,500.00 ended up selling for € 21,000.00 . A strange little rug which produced an outstanding result for the consigner. This piece did nothing for me in the illustration but someone out there certainly liked it . Must have been much better in person.
Only other piece the Iten- Maritz Medallion Ushak , pre- sale est. € 30,000.00 showed any sort of spark , selling for € 36,000.00 . This was the highest priced lot sold in another wise lack luster offering.
The one real note able lot in the group , lot # 34 , the “Bidder ” silk Khotan , pre- sale est. € 30-50,000.00 failed to find a buyer . The aggressive pre- sale estimate and the possibility of a high reserve could have had something to do with it not selling .
On another otherwise slow day we have the results of the Schuler auction in Zurich yesterday.
Reviewing this sale was a complete waste of time as far as collectors pieces go. However it does give a look at another aspect of the rug market . The Swiss market has always been directed more toward late pieces in excellent condition rather than older collectable items. This offering was aimed right at that part of the market. Out of the 132 pieces put up for sale 85 ended up finding buyers . A sold percentage of about 65% , decent I suppose.2014-03-27 11.45.41
What the Schuler auction house considered to be their star lot in the sale , lot # 632 , Bakshish , pre- sale est. € 5-6,000.00 went unsold. I just can't get past the fact that this piece had a “peculiar ” look to it . It was listed as 19th century but I am just not so sure about that date ?
The one piece I did feature in an earlier post , lot # 594 Zakatala , estimated at € 1,170 – 1, 500 sold for € 983.00. Under the low estimate but they got the job done. The results of this sale , although a smaller affair were much better than the Bonham's , L.A. sale (32% sold) on March 18th which featured merchandise in the same general vain , dealer shop stock type pieces .
This shows there is life in all areas of the rug market !
No word on the small group of rugs that went off today at Leclere auction house yet.
So in a timely fashion Leclere's auction results are posted now.
All but 1 piece sold .
The one that failed to sell was a room size Heriz ( lot 6 ) that carried a reasonable pre- sale estimate but must have had some condition issues that did not show up in the illustrations.
The 2 pieces I covered in an previous post both found buyers.
Lot # 1 Star Kazak , pre- sale est. , a very conservative € 3-5,000 , sold well above at € 37,000.00 . Easily more inline with what the piece was really worth.
Lot # 7 Shield Carpet found a buyer right at the low end of estimate at € 25,000.00 . This piece was not in the best of condition which must have lead to the moderate price.
Next up.
Bonham's , London has joined the Islamic week festivities with a sale on April 8th titled “Islamic and Indian Art ” . And what a “Creative ” title it is !
In the rug and textile dept. the offerings includes 25 rugs and flat weaves , 4 susani's and 11 textiles.
As far as the general rugs go unfortunately there is not piece worth mentioning . The susani's do however look pretty good but are of the more common varieties .
I don't think any of the textiles are standouts , as far as I can tell ? 2014-03-29 10.46.59
Now we move on to the one real star lot of the group.
Lot # 216w , Mughal carpet frag. , mid 17th century , pre- sale est. £ 36-40,000 . A hefty starting point for a fairly small item but make no mistake , to my eye this is a great example.
Quiet today .
However the South Land was shaking !!!
This week ends with a whimper rather than a bang !
Next week looks to also be uneventful leading up to all the auction action at the Islamic week sales in London.
14 days till NYC !!

Settle for nothing , bargain for everything ,you deserve your fair share ! Sheik Frederich , 2014.

Song o the week , Motörhead , The One to Sing the Blues on 1916 , 1991 .

One Response so far.

  1. I enjoy, cause I found exactly what I was having
    a look for. You have ended my 4 day long hunt! God Bless you man. Have a nice day.

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