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Miscellaneous

Laying the Cornerstone

By: Cathleen McCarthy

May 2007

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Cary Leibowitz, a prints specialist at Christie’s New York, bought his first artworks when he was
Courtesy Phillips, de Pury & Company.

Items sold at Saturday@Phillips: Gaetano Sciolari, ceiling lamp, 1960s; Bert Stern, “Marilyn with Apricot Roses,” 1962; Andrés Serrano, “Hooded Warbler II,” 2000; Finn Juhl, dining table and six chairs, 1960s.

a painting major at the University of Kansas. “I started writing to galleries, and they would send me slides, very pre-Internet,” he recalls. Among his college-era purchases was a print by Paul Cadmus that he bought for less than $1,000—and took a year to pay off. Today, Leibowitz’s collection numbers in the hundreds and has been featured in The New York Times.

“I love helping new collectors get started,” Leibowitz says. “It can be intimidating to come to an auction for the first time. It helps to call first or come to the previews and talk to us.” Specialists like Leibowitz will tell you anything you need to know about the condition of a piece, the artist, the medium, why something is priced the way it is and strategies for bidding.

Young collectors are big business, and regional auctions—long known as excellent venues for finding quality pieces at good prices—are getting a run for their money as the major houses are adding sales geared to courting new collectors. House sales at Doyle New York have been popular since the 1970s, featuring the entire contents of houses displayed in a home-like setting. Christie’s has tripled the size of its own monthly house sales and, two years ago, launched “First Open” mid-season sales, appealing to younger collectors by focusing on emerging artists and less-expensive work from established names. Christie’s also offers monthly gallery talks and panel discussions to demystify the auction process and examine art market trends. In a similar spirit, Sotheby’s holds frequent “Arcade” sales, Phillips de Pury & Company attracts a hip Manhattan crowd with “Saturday@Phillips” and Bonhams & Butterfields’ monthly estate sales draw dealers, young homeowners feathering their nests and seasoned collectors alike.

Following are categories that experts advise young collectors to consider when they’re seeking to start a collection.

ANCIENT JEWELRY AND GLASS


Fine antiquities in good condition are rare, and that keeps prices high in this category, but there are notable exceptions, such as ancient jewelry and glass. A large percentage of the jewelry offered in Christie’s annual sale in December sold for under $5,000. A Roman gold finger ring made in the second century A.D., with beautiful granulation and a garnet engraved with a bee, went for $2,400.

One risk in buying ancient jewelry is that exact origins can be difficult to determine, even for
Copyright Christie's Images Ltd. 2007.

Rembrandt van Rijn, “The Three Crosses,”
c. 1661, drypoint and burin.

experts. “Jewelry is very portable,” says G. Max Bernheimer, international specialist and head of antiquities for Sotheby’s New York. “If you have a Roman gold finger ring, for example, there is absolutely no way to know from looking at it whether it was made in Italy, Spain, Greece or Turkey. There were about 40 different countries where such a thing could have been found.”

Ancient glass, because it was produced for household use, is easier to track and available in larger quantities than art objects. “There are splendid things you can get for under $5,000,” Bernheimer says. “We sold a gorgeous Roman glass jug, almost 9 inches high, for $4,800 in December. “This field is not without its pitfalls,” he continues. “You need to ask about provenance, condition and quality—compared to other things. Do as much research as you can. Museum visits are essential. Buy auction catalogues and books. The more ammunition you have, the better off you will be. Be wary of the Internet, particularly with antiquities and old jewelry. It’s caveat emptor.”

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