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MARKET WATCH
RECENT NOTABLE SALES YOU SHOULD KNOW ABOUT
By Missy Sullivan
ITEM - Michael Jordan signed Air Jordan I-XXI shoe collection
WHERE SOLD - eBay
SALE DATE - 3/06
PRICE ESTIMATE/PRICE FETCHED - opening bid $425,000/$425,100
BUZZ: Legend has it that Michael Jordan never wore a pair of game sneakers more than once. Which means that there is no shortage of game-used, signed shoes from His Airness on the sports memorabilia market. So why the high-flying price on this virgin set of never-worn Air Jordans, which bear none of the coveted scuff marks, sweat droplets or other signs of his hardcourt hustle? Experts tell me the shoes would probably be valued at between $50,000 and $100,000. But Jordan personally autographed each pair and offered a snazzy display case, with proceeds going to support Habitat for Humanity’s ongoing Katrina initiatives. Fair market price often gets tossed to the wind in charity sales. Looks like the lot attracted only one bidder above the minimum.
ITEM - Inscribed first edition copy of Ulysses, 1922
WHERE SOLD - Swann Galleries
SALE DATE - 4/06
PRICE ESTIMATE/PRICE FETCHED - $25,000–$35,000/$184,000
BUZZ: Record auction price for an unrestored, inscribed first edition of Ulysses from the original 1922 Paris printing. That first edition was separated into three different sub-editions or “limitations:” 100 on Dutch paper (all signed), 150 on Arches paper and 750 on handmade paper. This one, which came from the latter group, was the brightest unrestored copy the market has seen in a long time. An inscribed Ulysses from the first group of 100 made $460,500 back in 2002 at Christie’s. This one sold as part of a boffo sale that also produced a record for a first American edition of Moby Dick ($74,750)
ITEM - Fitz Henry Lane, Moonlight, Owl’s Head, Northeast View, 1851
WHERE SOLD - Northeast Auctions
SALE DATE - 2/06
PRICE ESTIMATE/PRICE FETCHED - $150,000–$250,000 /$913,500
BUZZ: Two months ago a magnum case of 1985 Romanée-Conti sold for $170,375 (per-glass price: nearly $3,000). Now, take another legendary vineyard, dial the vintage back 120 years and what do you get? A six-figure bottle of wine, with an even headier cost per glass ($4,650). Of course, at that price, would anyone dare to drink the stuff? This particular trophy hammered in 1995 for $24,000 and again in 2001 for $26,000. Why the 400% increase this go ’round? Only two known bottles, a surging wine market, an attractive provenance and (perhaps most importantly) two determined bidders.
ITEM - Robert Venturi “Chippendale”chairs, 1984
WHERE SOLD - Wright 20th Century
SALE DATE - 3/06
PRICE ESTIMATE/PRICE FETCHED - $7,000–$9,000/$120,000
BUZZ: Psssst. The 1980s are making a comeback. Pass it on. First came the Abba musical on Broadway. Now, the rumblings of a design revival. Case in point: these “Chippendale” dining chairs, designed by architect Robert “less is bore” Venturi and produced by Knoll in 1984—classic examples of his post-modern riffing on design history. Word has it, the owner was about to chuck this matched set of 12, when an auction picker grabbed ’em. Nearly a dozen people competed. But the market is still finding its level: a set of four sold on eBay this month for only $10,000. And the matching pair of dining tables brought only $3,000.
— Missy Sullivan
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