“Old Hamlet of Toledo” by Diego Rivera from the artist’s Cubist period, is estimated to sell for between $800,000 and $1.2 million in a sale of Latin American art at Sotheby’s on May 25. This sale will be followed by two auctions of Latin American Art at Christie’s on May 26 and 27.

NEW YORK – Fans and collectors of Latin American art are looking forward to three days celebrating the diverse styles and cultural origins of the genre here, as Sotheby’s will present a sale of a single-owner collection on May 25, while Christie’s will present evening and day sales of Latin American art on May 26 and 27. Among the artists to be featured in the three sales include Rufino Tamayo, Diego Rivera, Miguel Covarrubias, Matta, Frida Kahlo, Claudio Bravo and Jorge de la Vega.

Sotheby’s “Latin American Masterpieces from A Private Collection” and “Fernando Botero: A Celebration and Latin American Art” sales will both be held on May 25. Leading the events is “Old Hamlet of Toledo” by Diego Rivera from the artist’s Cubist period, which is estimated to sell for between $800,000 and $1.2 million. Rivera, known as a brilliant landscape painter from the beginning of his career, traveled to Paris from Spain in 1911, where he became an integral part of the Cubist movement together with Braque and Picasso. This Spanish landscape is one of the more figurative works from his Cubist period.

Frida Kahlo’s self portrait “Autorretrato en Miniatura” is just two inches in height, making it the smallest self portrait ever made by the Mexican painter and perhaps her most coquettish. Kahlo painted the portrait for her lover, the artist José Bartoli, who kept the small treasure in his possession for more than 50 years. The dedication “Para Bartoli con amor, Mara,” is on the reverse of its small oval panel. Kahlo styled the portrait on her painting, “Arbol de la Esperanza,” in which she appears in Tehuana costume, her hair braided and crowned by a red ribbon or flowers. In 2005, it was featured in the critically acclaimed exhibition Frida Kahlo at Tate Modern. It also holds a presale estimate of $800,000-$1.2 million.

Frida Kahlo’s diminutive self portrait, “Autorretrato en Miniatura,” has a presale estimate of $800,000 to $1.2 million.

The Sotheby’s sale also includes three paintings by Tamayo, representing his greatest periods. “Woman Playing With Her Child” shows how the artist incorporates both Mexican and Cubist themes into his work (est. $1 to $1.5 million). The work was painted in 1946 and shows a child being entertained by a ball of yarn, perhaps alluding to family ties. “Sandías (Watermelons),” from 1941, reflects the quality of light and Tamayo’s childhood trips to the local market in the southeastern region of Mexico where he grew up (est. $500,000-$700,000). The overflowing fruit bowl offers an optimistic vision of bounty and abundance which is complimented by the cloudless sky that can be seen through the window behind. The group is completed by the sensitive and monumental “Mujer en Extasis” from 1973.

Surrealism is represented in the sale by the early Matta work “Morphology of Desire” (est. $700,000-$900,000). In 1938, at the suggestion of George Onslow-Ford, Matta started to experiment with automatism—the technique whereby the artists brush moves faster than the mind can think. The results, as seen in works such as this, made significant contribution to the development of Action Painting and Abstract Expressionism. The work was originally in the collection of Onslow-Ford, his friend and fellow painter.

The Cuban avant guarde of the 1940s is represented by Rene Portocarrero’s “Mujer,” an arrestingly vibrant work where the boldly patterned background contrasts to the sweeping long strokes of the figure (est. $200,000-$300,000). The work is one of the greatest paintings of Portocarrero’s early career and was included in his 1942 exhibition at the Lyceum. Mario Carreno’s well known masterpiece “The Drumbeater” offers a visual synthesis of geometry and afro-Cuban music (est. $300,000-$500,000) and “Balconies” by Amelia Peláez from 1963 completes the group (est. $20,000-$25,000).

“Offering of Fruits for the Temple,” by Miguel Covarrubias (1932), is a highlight of the two Latin American art sales at Christie’s on May 26-27. It has a presale estimate of $ 200,000-$300,000.

The Christie’s sales, comprised of nearly 350 works by more than 145 artists from 16 countries spanning across Latin America (including Argentina, Venezuela, Puerto Rico, Chile, Cuba, Brazil, Colombia, Mexico and Nicaragua), span the late-18th to the 21st century. Prime examples from Colonial, Modernism, Kinetic Abstraction and Pop and Op Art has Christie’s predicting a sale realizing upwards of $20 million overall.

“We secured a small but special collection of rarely seen Spanish Colonial works from the Cuzco and Mexican schools, as well as Latin American Modernist Masterpieces works by Torres-Garcia, Matta, Tamayo and Lam,” said Virgilio Garza, Head of Latin American Paintings at Christie’s.

The cover lot is a remarkable rediscovered painting by Miguel Covarrubias, the Mexican artist whose extended trips to Bali in the 1930s forever inspired his work. Transfixed by the island’s rich culture, artistic and religious traditions, Covarrubias, a successful illustrator, whose work was often featured in Vanity Fair and Vogue magazines, wrote “The Island of Bali.” “Offering of Fruits for the Temple,” from 1932, is Covarrubias’ pictorial ode to the idyllic beauty of the Balinese women, as a group of beautiful women elegantly balance baskets of fruit on their heads, swathed in brightly colored sarongs. The rare work has been in a private collection until now and is considered one of the artist’s great masterpieces.

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Pablo Picasso’s “Femmes lisant (Deux personnages),” painted in 1934 depicting his lover, Marie-Thérèse Walter, reading with her sister, led the Impressionist & Modern Art Evening Sale held at Sotheby’s on May 3, achieving $21,362,500.

NEW YORK – Pablo Picasso’s “Femmes lisant (Deux personnages)”—a striking portrayal of the artist’s beloved mistress during the 1930s—was the top lot in a sale of Impressionist & Modern Art Evening Sale held at Sotheby’s on May 3, achieving $21,362,500.

Overall, the auction achieved $170,478,000, within the overall pre-sale estimate ($158.9/229.7 million), and a total of 37 works realized $1 million or more. Auction records were established for the Surrealist artist Paul Delvaux and for a sculpture by Paul Gauguin.

“This evening’s sale saw solid bidding activity from around the world, both in the room and on the phones,” said Simon Shaw, head of Sotheby’s Impressionist & Modern Art Department in New York. “Pablo Picasso was our dominant artist tonight. Another high point of the night was the Jawlensky, a prime work by the artist and the finest we have seen since we achieved the world record in 2008.”

“What unified the top-selling lots in tonight’s sale was great visual presence and vibrant color,” said David Norman, co-chairman of Sotheby’s Impressionist & Modern Art Department Worldwide. “As always, fair and conservative estimates really whet the appetite and increase bidding. The results demonstrate demand across all of the different categories represented. Surrealism did wonderfully, as we saw with the record-breaking price achieved by the Delvaux, and the strong prices brought for both Dalí and Magritte. Impressionist works held up well, with the Monet selling for nearly $6.3 million–twice the price it brought in 2004. Sculpture also performed well, as did the spectacular Expressionist artist (Alexej von) Jawlensky.”

Eight of the 10 Picasso paintings found new homes. “Femmes lisant (Deux personnages),” which was sold to a private collector, was painted in 1934 and depicts his lover, Marie-Thérèse Walter, reading with her sister. The canvas is among the most monumental of the iconic series of pictures depicting the young woman, and was last on the market in 1981.

Picasso’s “Femme,” from a small series of Surrealist works known as the “Bone” pictures, achieved $7,922,500 after a heated competition between bidders.

Three paintings by Picasso from the collection of Dodie Rosekrans also highlighted the group: the monumental “Couple à la guitar” from 1970, brought $9,602,500; “Femme,” from a small series of Surrealist works known as the “Bone” pictures, achieved $7,922,500 after a heated competition, exceeding its pre-sale high estimate of $5 million; and “Fillette aux nattes et au chapeau vert,” a tender depiction of the artist’s daughter Paloma, also exceeded its high estimate in selling for $5,906,500. In total, works from the Rosekrans Collection brought $23,431,500, just shy of their collective pre-sale high estimate.

Another standout of the sale was Paul Gauguin’s “Jeune tahitienne.” The exquisite wood carving set a new record for a sculpture by the artist when it sold for $11,282,500, also marking the eighth-highest price for any work by the artist at auction. “Jeune tahitienne” was carved during Gauguin’s first trip to Tahiti between 1890 and 1893, and is the only fully-worked bust portrait the artist is known to have created. In 1894, Gauguin presented the sculpture to Jeanne Fournier, the 10-year-old daughter of critic and collector Jean Dolent, having promised to bring her a gift from the tropics. In addition, competition was fierce for Alberto Giacometti’s “Femme debout.” More than seven bidders vied for the bronze before it sold to client on the phone for $7,362,500, more than double the high estimate of $3 million.

Jawlensky’s “Frau mit grünem Fächer (Woman with a green fan)” achieved $11,282,500, just under its high estimate of $12 million. This price is the second-highest for a work by Jawlensky, and Sotheby’s now holds the top three prices for the artist at auction. Pulsating with vibrant color and rich, painterly detail, the extraordinary work exemplifies the artist’s talents as a key figure in the Expressionist movement.

Following the success of Salvador Dalí’s “Portrait de Paul Éluard,” which set a record for any Surrealist work at auction when it sold for $21.7 million at Sotheby’s London in February of this year, tonight’s sale in New York saw strong prices for several Surrealist works. Paul Delvaux’s spectacular “Les Cariatides,” from 1946 and ranks among the most celebrated and widely-known compositions of his career, set a new auction record for the artist when a prolonged bidding war drove its price to $9,042,500 (est. $5-$7 million). René Magritte’s “Quand l’heure sonnera” brought $5,962,500, while six bidders clamored for Salvador Dalí’s extraordinary portrait of Helena Rubinstein. Consigned by the Helena Rubenstein Foundation, the work brought $2,658,500, well in excess of its $1.5-million high estimate.

Several Impressionist works in the sale also performed strongly: Claude Monet’s “La Seine à Argenteuil” from 1877 achieved $6,242,500; Édouard Manet’s handsome “Portrait de Monsieur Brun,” which has remained in Brun’s family since it was painted in 1880, brought $5,402,500; and Camille Pissarro’s “L’Hermitage en été, Pontoise” sold for $4,282,500.

For more information about this auction, visit the Sotheby’s web site.

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From The Guardian:
Magritte on Magritte: letters reveal surrealist Damien Hirst

René Magritte, the 20th-century Belgian surrealist, was no naïf when it came to getting his paintings sold. This is evidenced by a batch of letters he sent to his New York dealer in advance of some exhibitions. Magritte specified the frames he wanted, where the pieces should be hung, catalog copy—a regular Damien Hirst. The collection of letters, which has 40 drawings in them, will be sold at a June auction and is estimated to go for between $150,000 and $250,000.

From Bloomberg:
Lord’s Bugatti Racer Tops $13.7 Million Auction; Lennon Ferrari Withdrawn

Update: John Lennon is said to have bought the 1965 Ferrari 330 GT 2+2 Coupe shortly after he got his first driver’s license. The present owner put it in a Bonhams classic-car auction expecting to realize in the neighborhood of $200,000. At the last minute, the owner changed his mind and decided he had to keep the car. But weep not for Bonhams. The Paris sale brought in $13.7 million.

From CBC News:
Stephen Colbert portrait set for charity auction

Faux TV conservative pundit Stephen Colbert is at it again. For those not familiar with the “The Colbert Report,” every year, Colbert hangs a new pompous portrait of himself. He was able to finagle the Smithsonian into hanging one temporarily in what museum officials deemed an “appropriate place”—between two bathrooms. Colbert tried to sell last year’s portrait to comedian Steve Martin, who has a fine eye for art and boasts an enviable collection. Martin wouldn’t bite even after artists Shepard Fairey and Andres Serrano popped up during the show—much to Martin’s amazement—and added their contributions to the painting. Undaunted, Colbert has put the portrait in a Phillips de Pury & Company March auction. Money from the sale will be given to DonorsChoose.org, which directly links donors with public schools requesting help with everything from pencils to pianos.

From The Toronto Star:
U.S. brothers bring bogus “Bernie Madoff” auction to Toronto

The ripple effect of Ponzi king Bernie Madoff’s billions-of dollars perfidy continues. Most recently, a couple of Americans from Virginia set up Canadian auctions with items purportedly owned by the disgraced financier. The Toronto Star did some investigating and discovered the brothers had a history of suspended and revoked auctioneering licenses and have been fined for misrepresenting the value of items.

From The Associated Press via Auction Central News:
Picasso painting fetches $40.7 million at London auction

A 1932 Picasso depicting his young mistress blew through the ceiling at a Sotheby’s London auction. With hot and heavy bidding, “La Lecture,” with a presale estimate of a mere $28.9 million, gaveled down at a jaw-dropping $40.7.

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From The Wall Street Journal:
Fall Auctions: Will Bigger Be Better?

This week marks the beginning of Sotheby’s, Christie’s International and Phillips de Pury & Co.’s Impressionist, contemporary and modern art sales. The 2,266 pieces—up 39 percent from last year—could go for $1 billion. The volume is seen as another indication that the art market is rebounding.

From The Associated Press via Businessweek:
Rare Old West photo collection up for auction

If you fancy early photographs of the Old West, head to Reno this week. Original shots by James Crockwell, Carlton Watkins and William Henry Jackson are included in the 1,000 item E. F. Mueller collection. Mueller, a casino executive, had a penchant for photos of Nevada and California cities, railroads and mining camps.

From The Pittsburgh Tribune-Review:
Marine’s collection is glimpse into corps’ past

Ron Maxson was a Marine from 1958 to 1979 until he retired as a first sergeant. But he hasn’t left the corps behind. Now he’s a collector of Marine memorabilia. In his collection is a casket flag with 49 stars, only 49 because Hawaii had yet to be admitted to the union. And he has uniforms from years ago complete with insignia. Someday, he hopes to open a memorabilia museum.

From CNN:
Andrew Wyeth painting at Christie’s ‘a really good fake’

Well, if you’re going to paint a fake, might as well make a fake that will fool a lot of people. Such was the case with Andrew Wyeth’s “Snow Birds.” The painting was going to be auctioned at Christie’s. Only problem was a dealer who sold the real “Snow Birds” asked Christie’s to authenticate the painting they had. It was what one expert deemed it “a really skilled forgery.”

From ESPN:
Collectors eye first LeBron James card with Heat

Basketball star LeBron James broke a lot of hearts when he left Cleveland for Miami. It’s not likely the Ohio fans will be lining up to get his first licensed NBA card as a Heat. Other collectors have been paying around $40 in online auctions.

From The Associated Press via ESPN:
Nuns selling rare Honus Wagner card

A Honus Wagner baseball card in good, bad or indifferent condition is still a godsend. In this case, the godsend came to some Roman Catholic nuns. A brother of one of the nuns gave the card to Baltimore’s School Sisters of Notre Dame. Now, the sisters are putting the card on the auction block. Potential sale price? $150,000 and $200,000. The proceeds will be sent to ministeries in 35 countries.

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Picasso's "Nu au Plateau de Sculpteur (Nude, Green Leaves and Bust)" sold for 106.5 million last May, the most ever paid for a Picasso.

The concept of a trophy wife is an ancient one. Bathsheba and Cleopatra are examples. A 1950 issue of The Economist magazine called attention to the practice of victorious warriors marrying beautiful women captured in battle. Monarchs often married wives where the trophy rested more in political alliances and land acquisition than physical beauty. Charles (who needs all the help he can muster) and Diana offer a contemporary example.

By the 1990s, trophy wife was a term used to describe the marriage of a financially successful man to a woman whose beauty and desirability enhanced his status among male competitors. The trophy wife was equivalent to a Lamborghini, Patek Philip or New York Park Avenue penthouse. Billionaire J. Howard Marshall’s marriage to Playboy Playmate’s Anna Nicole Smith added a pejorative connotation to the phrase.

Reading the media hype preceding Christie’s International, Phillips de Pury & Co. and Sotheby’s June 2010 London sales of impressionist and modern art, I found several references to the top lots being offered for sale as potential trophies. Applying this trophy concept to fine arts, antiques and collectibles is new. If it becomes acceptable trade speak, it will solidify the idea that desirability at the high-end of any collecting category rests on financial as much or more than aesthetic beauty. Unlike the trophy wife, whose beauty fades over time, the implied assumption is that trophy art’s financial beauty will not. This is a dangerous and possibly false assumption.

Who or what decides if a piece of art is a trophy? At the moment, the answer is money. Which is the trophy—the $106.5-million Picasso painting sold on May 2010 in New York or the $51.2-million Picasso “Portrait d’Angel Fernándezo de Soto” from the Andrew Lloyd Webber Foundation sold in London on June 23, 2010, by Christie’s International? If they are both trophies, how is the $55 million dollar difference explained?

Picasso's “Portrait d’Angel Fernándezo de Soto” from the Andrew Lloyd Webber Foundation sold in London on June 23, 2010, sold for $51.2 million.

In the midst of the Great Recession (do not try telling me and millions of others that it is over), staggering prices are being paid for high-end pieces, many of which set auction or private treaty sale records. Individuals are cashing out of their intangible investments such as bonds and stocks and buying tangibles. Fine art, antiques and collectibles as tangibles are one area into which this available capital is flowing.

Coins, comic books, non-sport and sport trading cards (a.k.a., bubble gum cards) and stamps have developed a grading and encapsulated system; the goal is to create a universal standard through which these commodities can be traded worldwide. Attempts to do this for other fine art, antiques and collectibles have failed or met with limited success.

The determination of trophy status is and always will be subjective. The amount paid is driven by the opinion of someone—a person whose expertise and motive needs to be constantly scrutinized in the present and future. There is no one who is above suspicion, even the buyer. If the buyer’s goal is to buy status in buying a piece of trophy art, antique or collectible, his judgment is clouded from the onset. Advice from experts within the field, investment pundits or auction house personnel is tainted, too, if for no other reason than they profit from the acceptance of their advice.

I was extremely pleased with the balance shown by the media reports of the June 2010 London art sales. In addition to reporting the lots that sold, they called attention to the large number of lots that did not sell. Prior to the actual auction, many of these unsold lots were hyped by the auction houses as trophy pieces. Given the high percentage of lots that did not sell, I am more pleased by those who did not bid and saved their money to buy another day than I am by those who bought into the hype.

When I describe the top five to 10 pieces within a collecting category, I refer to them as masterpiece or ultimate units. A top-notch collection contains at least half of them. Collectors define their importance in terms of desirability and not money, although a connection can be made.

A pair of the ruby slippers worn by Judy Garland in “The Wizard of Oz.”

Because of collectors’ declining importance in determining the significance of what is and is not being sold in the antiques and collectibles marketplace, it is time to accept two truths, no matter how painful: (1) the concept of trophy antiques and collectibles has been around far longer than most are willing to admit; and (2) those who buy these items are not collectors in the true sense. Although a reputed pair of the ruby slippers worn by Judy Garland in “The Wizard of Oz” were sold in an MGM auction in 1950, the concept that a pair was a trophy was established on May 24, 2000, when Christie’s East sold a pair for $660,000 to David Elkouby and his partners, who owned several Hollywood memorabilia stores. They have not surfaced since.

Is trophy the best word to describe these slippers? My first thought is yes. They are trophies. The slippers are one of the movies’ greatest props. While researching the slippers, I found a reference to them as “Genre: Fantasy.” It is hard to dispute the fantasy attribution. There is a sense of unreality to them. Since I have no desire to create two new collecting concepts of trophy and fantasy, trophy is fine for now.

Once again, the question becomes how do you define a trophy antique or collectible? Like the Picasso paintings, the object can be assigned to a specific collecting category or sub-category. A trophy piece should stand alone.

In the past, I have railed against those who tout the one-of-a-kind over a mass produced object. Painters, even Picasso, had their bad days. I have seen more than my fair share of handmade junk; crap that belongs in the landfill rather than a museum or collection. Each piece stands and falls on its own merit in my eyes.

Perhaps this is why I am having so much trouble dealing with the possibility that the only way to define a trophy antique or collectible is its uniqueness. Ideally, it is a one-of-a-kind item. But, the ruby slippers were not one-of-a-kind, they were five-or-six-or-more of a kind—a pair or pairs for dancing, a pair or pairs for close-ups, or a pair or pairs of identical slippers worn by one of the witches. Is size alone enough to differentiate which is which? Trophy clearly requires limitability.

Michael Jackson’s Swarovski crystal-studded glove worn during his 1984 Victory tour sold for $190,000 to Wanda Kelley of Los Angeles.

I briefly considered equating trophy with icon status. In June 2010, Michael Jackson’s Swarovski crystal-studded glove worn during his 1984 Victory tour sold for $190,000 to Wanda Kelley of Los Angeles. Who is Wanda Kelley? Her claim to fame is her statement: “Let’s just say I wasn’t walking out of here without that glove.” Is this glove a trophy icon? For $190,000, one would hope so. Fate decrees otherwise. In November 2009, Michael Jackson’s white glove worn when he first performed his moonwalk for the 1983 Motown 25 television special sold for $350,000. Apparently lead crystals do not a trophy icon make. Further, the auction company touted the white glove as the Holy Grail of Michael Jackson collectibles. Trophy, icon, Holy Grail—what is next?

The last week of June 2010 witnessed a number of hard-to-understand-the-price-paid sales. Julien’s Auctions sold a set of three Marilyn Monroe X-rays revealing a lovely set of ribs (not what you thought I was going to comment upon, was it?) from a 1953 Cedars of Lebanon Hospital visit for $45,000, an Elvis Presley shirt worn during a 1956 appearance on “the Milton Berle Show” for $61,200, and a pair of Michael Jackson’s stage-worn loafers for $90,000, hopefully fumigated and polished before being sold. None of these items are trophies. In fact, they make you wonder if the buyers who acquired them were in the right mind.

It is far easier to agree upon which objects are not trophies as opposed to deciding which are. When I hear trophy, I immediately think of the shelves and boxes full of sports trophies I encounter doing home appraisals. What were once valuable are now junk. The moment of glory and memories associated with them vanished. This my greatest concern with assigning trophy status to fine art, antique and collectible objects. The concept is not permanent. There is no guarantee the next owner, let alone future generations will assign it the same value.

Let’s stay with the tried and true. These so-called trophies are nothing more than the high-end used goods sold in the antiques and collectibles marketplace. We are first, foremost and always will be nothing more than recyclers of other people’s stuff.

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Rinker Enterprises and Harry L. Rinker are on the Internet. Check out his Web site.

You can listen and participate in Harry’s antiques-and-collectibles radio call-in show “Whatcha Got?” on Sunday mornings between 8 a.m. and 10 a.m. Eastern Time. It streams live on the Genesis Communications Network.

“Sell, Keep Or Toss? How To Downsize A Home, Settle An Estate, And Appraise Personal Property” (House of Collectibles, an imprint of the Random House Information Group), Harry’s latest book, is available at your favorite bookstore and via Harry’s Web site: http://www.harryrinker.com.

Harry L. Rinker welcomes questions from readers about collectibles, those mass-produced items from the 20th century. Selected queries will be answered on this site. Harry cannot provide personal answers. You can e-mail your questions to harrylrinker [at] aol [dot] com. Only e-mails containing a full name and mailing address will be considered. Please indicate that these are questions for WorthPoint.

Copyright © Rinker Enterprises, Inc. 2010

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From The Associated Press:
Upper Deck says it sticks by Woods

Not everyone is jumping the sinking Tiger Woods ship. Upper Deck says it will continue its relationship with the golfer. It will continue to offer Tiger cards, Tiger autographed shoes and $1,000 Tiger autographed pictures.

From the BBC:
Dickens toothpick fetches $9,000 in New York auction

Let us be quick to point out that this is no ordinary wooden toothpick. No, it is an ivory-and-gold one with a retractable hook and the author’s engraved initials. The presale estimate was between $3,000 and $5,000. For some reason, the buyer wishes to remain anonymous.

From Bloomberg:
Sotheby’s, Christie’s Contemporary-Art Sales Total Drops 75%

There has been some good news items on the auction front. This isn’t one of them. After Sotheby’s and Christie’s stopped offering guaranteed prices, sellers turned to private sales for their top-quality pieces. The two houses evening sales of contemporary art brought in $1.97 billion last year as opposed to $482.3 million in 2009.

From The Associated Press:
Eiffel Tower’s first stairs sold at Paris auction

An auction of Parisian memorabilia brought in double the low estimate for 40 steps from the Eiffel Tower—$154,380. So let’s see, that’s about $3,860 a step. A couple of 100-year-old Metro benches hammered down at more than $32,000. Sure enough. Yesterday’s trash is today’s treasures.

From The Telegraph (UK):
Michael Jackson’s loafers go on show

After Elvis Presley died, the Elvis sightings began and may never cease. It’s beginning to feel that way with Michael Jackson auctions. There is yet another one. The big item at Bonhams this week is a pair of loafers he wore with “Rock My World Billie Jean” written on the soles. Estimate? Almost $20,000. Talk about rocking one’s world.

From The Associated Press via Auction Central News:
Italian police recover hoard of looted artifacts

With help from the U.S. Immigration and Customs Enforcement, Italian police were able to track down 1,700 pre-Roman and Roman pieces that had been looted from tombs near Venice and Naples. This is part of an ongoing crackdown by the Italian government that targets antiquities sellers and seeks return from museum buyers.

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From Reuters:
Activity, prices bounce back at Sotheby’s auction

First Warren Buffett signals the economy is coming back by buying Burlington Northern. Then a Sotheby’s Impressionism and modern-art auction brought in $180 million, 10 percent above estimate. Could happy days be here again?

From The Dallas Morning News:
Jack Ruby’s hat commands $53,775 at Kennedy assassination item auction

It was an image that is hard to forget. Alleged JFK assassin Lee Harvey Oswald was being spirited out of the Dallas city jail when nightclub operator Jack Ruby shot him—on live TV. The fedora Ruby wore was recently auctioned for more than $50,000.

From The Associated Press via The Denver Post:
Saint Laurent’s everyday objects to be auctioned

Even if you’re an acclaimed designer with an incredible art collection, you have to eat and sit on something. So it was with Yves Saint Laurent. Of course, he ate off 18th-century porcelain and reclined on gilded armchairs that Queen Hortense of Holland had made in 1812, but don’t we all? Saint Laurent’s personal items are set to hit the block next week.

From The Associated Press via the San Francisco Chronicle:
Madoff collectibles being sold to aid victims

Speaking of personal items, wouldn’t you just love to have a satin New York Mets jacket once worn by Bernie Madoff? It even has the king of the Ponzi schemes name on it. Or what about a “vintage Rolex O.P. ‘Monoblocco’ chronograph,” which is sometimes referred to as the “Prisoner Watch”? Or a wallet with the initials “BLM”? These choice items, among others, are being auctioned with the proceeds going to the victims of Madoff’s massive fraud.

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From Bloomberg:
Sotheby’s Corporate Credit Rating Is Cut One Level by Moody’s

So. Moody’s dropped Sotheby’s rating from Ba2 to Ba3. On the other hand, Moody’s feels the auction house “will successfully weather the current downturn.” And Sotheby’s did manage to show a quarterly profit even if net profit fell. So goes life in the tumultuous auction world.

From Bloomberg:
Williams Sisters Portrait, Riggs’s Jacket Lead U.S.T.A. Auction

Tennis collecting has long labored in the shadows of other sports. But if you’d like to own a 1992 Yonex racket autographed by Pam Shriver (estimate $250 to $350) or memorabilia from the 1975 exhibition match between Bobby Riggs and Billie Jean King dubbed the “Battle of the Sexes” (estimate of $10,000, but it includes Riggs’ warm-up jacket), head on up to the U.S. Open in Queens. Guersney’s has 500 lots from which to choose. The auction is set for September 11 and 13.

From The Art Newspaper:
Politically sensitive art to be exhibited at sea

Things being what they are in the Middle East, it’s understandable that Arab artists might not want to exhibit in Israel. A group called Ex-Territory has found a solution. A ship in neutral waters will be used as a floating gallery. The first offering will be videos projected on the vessel’s sails.

From NPR:
Bid For Crypt Above Marilyn Monroe Falls Through

And now for some creepy news. In 1986, Richard Poncher was laid to rest in the crypt above that of Marilyn Monroe—face down on his request. Fast forward 23 years, and his widow decided to move her husband and sell the crypt above Monroe. (Hugh Hefner, should he ever die, will be interred in the crypt next to her.) So what did Widow Poncher do? She turned to eBay.

When the bidding ended, some guy in Japan was the winner, coming in at $4.6 million. But wait a minute, Widow Poncher will have to wait to pay off her mortgage. The check was not in the mail or PayPal. The Japanese fellow bowed out. “I need to cancel this because of the paying problem.”

From The New York Times:
So Surreal: Thrift Shop Art May Be by Dalí

There among the secondhand clothes and tacky jewelry in a Houston Salvation Army store are some possible Dalis (with Dali, it’s almost always “possible” since fakes are all over the market) that might be worth $76,000. For real. People are writing bids on a clipboard, and the highest so far is $8,000. Really.

From The Los Angeles Times:
State’s EBay sales strategy poor, auction expert says

California may be broke. Still, you’d think it could have found someone who could take decent pictures of items it was auctioning on eBay. Gov. Arnold Schwarzenegger called cleaning out state warehouses and selling on eBay and craigslist, the Great California Garage Sale. The president of Auction Cause criticized the execution of the sale. For one thing, he said, “A 12-year-old could have taken better pictures of jewelry and cars.” In addition, buyers would have to pick up cars in the Golden State, reducing the potential buying pool.

From The Philadelphia Inquirer via ARTINFO:
Painting Bought for $4 Contains Million-Dollar Document

Sigh, in the Why Couldn’t It Happen to Me? Department, a fellow took a liking to a frame at a Pennsylvania antique market. So he paid $4 for it and got the painting, as well. When he removed the picture, what did he find but an old document. As it turned out, a very valuable old document—one of the first printed copies of the Declaration of Independence in very good condition. How valuable? Sotheby’s is thinking in the $800,000 to $1.2 million range.

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From The Boston Globe:
One giant signature for mankind

On July 16, 1969, a Saturn V rocket blasted off from Cape Canaveral. Destination—the moon. Before the launch, astronaut Neil Armstrong wrote a check for $10.50, repayment of a loan from Hal Collins, the NASA chief of mission support. In time for the 40th anniversary of the successful mission, that check is going on the auction block. It’s believed it will go for more than $19,000, the highest price paid for an Armstrong autograph to date.

From The Associated Press:
Hoarded art by ‘quirky’ collector could net $20M

Charles Martignette had a thing for illustration art, be it pinups or Norman Rockwell. And during his 57 years, he managed to indulge quite a bit in his penchant, amassing a collection of some 4,300 items. Described as a “character,” he needed a 2,500-foot warehouse to stash the art. After his death more than a year ago, a relative inherited the trove and then sold it to a group of investors. Heritage Auction Galleries is selling the collection this week and estimates it will bring in $20 million.

From The New York Times:
Obama Poster Photographer Says He Owns the Picture

The case of the Associated Press v. Shepard Fairey is getting curiouser and curiouser. The AP sued Fairey for copyright infringement over the artist’s use of a photo of Barack Obama in an iconic poster. But hold on. The freelance photographer who snapped the shot says the AP had no right to copyright it. So Mannie Garcia is suing both the news organization AND Fairey.

From The BBC News:
Constable fails to fetch reserve

Again, a story of a painting not being recognized as the work of a famous artist. In this case, last year, a bidder walked away with a picture for a mere £24,000 ($40,000). The new owner had it authenticated, and voilà, it turned out to be “Storm Clouds over Hampstead” by John Constable. Sotheby’s put the painting up for auction with a presale estimate of £300,000 ($500,000) to £500,000 ($820,000). When the reserve price was not reached, the owner decided to keep the painting.

From The Associated Press via The Denver Post:
Warhol’s Jackson portrait dropped from NY auction

The Michael Jackson death mania has affected a scheduled auction of his Andy Warhol portrait. An East Hampton, N.Y., house had put up the 1984 painting with a $1-million to $10-million estimate. Now with all things Jackson selling phenomenally, the official statement from the house is it wanted “the greatest number of prospective purchasers” to have the opportunity to bid.

From The New York Times:
Shepard Fairey Gets Probation

Shepard Fairey of the Obama campaign-poster fame is not going to the slammer for peppering public and private property in Boston with his art. Fairey got two-year’s probation and a $2,000 fine. The artist was arrested in February on his way to a Boston Institute of Contemporary Art party for the opening of a, yes, Shepard Fairey retrospective. How embarrassing. Still pending is the Associated Press suit charging Fairey used an AP photo in that Obama Hope poster.

From The Los Angeles Times:
I return Bette Midler’s stolen Emmy

Let’s say you really wanted the Emmy that Raymond Burr got for “Perry Mason.” And let’s say you were outbid, so you went for the Bette Midler Emmy and other odd memorabilia that went with it and got the lot. That was five years ago, and you’ve wondered ever since why the Divine Miss M would have put up her first Emmy for auction. You mention this to D-List Kathy Griffin, and whoa, Bette Midler’s people are on the phone.

From Forbes:
1,500-Year-Old Hidden Record Of Christ’s Words

The Codex Climaci Rescriptus has a history worthy of a Hollywood blockbuster. The sixth-century document with the supposed words of Jesus is on the block after a tortuous trek from a sacred monastery in the Sinai to Westminster College in Cambridge, England, to Sotheby’s with stops in between.

From BBC News:
Cartier-Bresson photos ‘not lost’

Henri Cartier Bresson, credited as the founder of photojournalism, was understandably upset when it was discovered that hundreds of his photos archived in France’s National Centre for Contemporary Arts were water damaged. Although they were supposed to have been destroyed, Bresson’s widow (he died in 2004 at 95) charges negligence on the part of centre since some of those photos are showing up on the black market.

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From Bloomberg:
Jackson Items Fetch $205,000 in Sale, Top Estimates

Michael Jackson’s death sent waves through the collectibles world along with the rest of the world. Julien’s Auctions had been expecting to bring in $12,000 tops for the collection of the pop star’s friend, David Gest. (If that name sounds familiar, Gest was once strangely married to Liza Minnelli and partook of the same plastic surgeon as Jackson.) The June 26 auction, planned well before the performer’s death, realized more than $200,000 for items such as sheer shirt that went for $52,500 (presale estimate: $1,000 to $1,500) and a Mickey Mouse and Pluto painting signed by Jackson bringing in $25,000 (presale estimate: $1,000 to $1,500).

But wait. David Gest, according to Contactmusic.com, is claiming he never consigned the items to Julien’s and never knew about the auction. A spokesman for Julien’s said the collection came through a third party. Gest, predictably, plans to sue.

From Agence France-Presse via Taipei Times:
Fans of slain Dutch politician snap up auction memorabilia

The fascination that some have with the macabre was in evidence at a recent auction in the Netherlands. The property of Dutch extreme right-wing politician Pim Fortuyn brought in almost $700,000. Fortuyn was assassinated in 2002 by an animal-rights activist. Okay, so the politician’s 7,000 books sold for $49,000 to the Rotterdam library. That seems reasonable enough. But paying $1,200 for the cigarette butt Fortuyn smoked shortly before being shot? Very bizarre.

From ARTINFO:
“Antiques Roadshow” Expert Snagged a Gainsborough for a Song at Sotheby’s

Another entry in our Big Fat Oops Department. This time it’s Sotheby’s on the wrong end of the oops. It seems that the auction house put up for bids a painting that it deemed was by an unknown artist. Philip Mould, who appraises art for the British version of the “Antiques Roadshow,” begged to differ. He realized the work was by the renowned 18th-century painter, Thomas Gainsborough. Mould bid £67,250 ($110,600) and won. He later had the picture authenticated and is trying to sell it for £750,000 ($1.24 million).

So where does the “oops” come in? Sotheby’s estimated the painting at between £10,000 and £15,000 ($16,400 to $25,000). The seller may what the auction house to pony up for its unfortunate oversight.

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Say you have a one of a kind Louis XVI armoire. You know it has a great value and you need to sell it as part of an estate, for example. “In the Premier Brokering process, we shepherd the item through the entire process from the person posting the question on Ask the Worthologist,” says Pattie, “telling them how to photograph the item and what kind of photographs we need. We submit those to the auction companies, get the replies back, establish their terms, and other things that we can do to add value for the member.”

And it works. Just ask Tammy of Boulder, Colo. She picked up this unusual cityscape painting from a dumpster while working as a property manager about 10 years ago. She kept it, but she doesn’t know why. After seeing a local station talking about WorthPoint, she wrote in to ask if her painting had value. To Pattie, a trained auctioneer for 40 years, it did; it most definitely did. Pattie placed a value of her dumpster painting at well over $10,000.

The artist, Takanori Oguiss, a landscape artist of the 1930s, has always sold well at auction, Pattie determined through initial research. Auction companies sent in bids of $40,000 to $60,000, but after further research, Pattie determined that Sotheby’s has sold most of his work over the years. With an auctioneer’s ease, he came back with a Sotheby’s estimate of $70,000 to $90,000. “The end result was—seven months later—the painting that was sitting in a closet for 10 years, sold at Sotheby’s for $103,000,” Pattie says.

Makes you wonder what’s been sitting in your closet, doesn’t it?

For all that work and expertise, there must have been a cost to Tammy. “WorthPoint does charge a premium to the member,” says Pattie. “In the Premium Brokering Plan, we have a contract agreement that takes them through every phase of what we’re doing. It explains the percentage, which is 5 percent of the gross selling price.” But, if the item doesn’t sell or doesn’t sell at the reserve, then the member is not charged by WorthPoint at all.

So, here are the steps for a successful brokering opportunity through WorthPoint: Send a detailed description of the item that includes lots of photographs and all the measurements; Provide as much provenance as possible through letters or stories as you know it.

With online auction sales to review, experts to talk to, and now an experienced brokerage system to help sell when its time, WorthPoint is the one place you can go to find the worth of your item, anytime.

Watch a video of Thom Pattie discussing WorthPoint’s consignment services here.

Tom Carrier is a general Worthologist, with an expertise in a wide variety of subjects.

WorthPoint: Get the Most from Your Antiques & Collectibles.