Why are auction houses booming?

Why are antiques attracting so much interesting these days? Despite the gloomy economic news if anyone asks what luxury consumers are looking for these, antiques has got to be towards the top of the list. No wonder that Christie’s hit $296m, 48% more than last year, while Sotheby’s reported a 54% increase in net income to $127.7m, compared to a year ago.

  Whether it’s the flight to quality, with luxury consumers spending their money on objects which they know have value or whether it’s the desire to find for alternative investments in the current dreadful market conditions or whether it’s buyers from the emerging markets, the auction houses are thriving.

  Personally I think it’s all three. Christie’s has another example of what should be a very successful sale.

Bacchantes vase, no. 997, designed 1927

executed post-1945, René Lalique (1860-1945)

  The upcoming auction An Iberian Private Collection with Part I: Important Gold Boxes & Objects of Vertu on 8 December 2011 and Part II: Furniture, Silver, Jewellery, Paintings, European, Chinese and Islamic Ceramics on 9 December 2011, is an eclectic collection, which spans the 16th to the 21st century. It reflects the exquisite taste of a passionate collector and includes exceptional golden splendors which will appeal to both serious collectors and individuals looking for luxurious gifts in the festive season.

  This superb collection was formed over five decades by a visionary connoisseur, known for his refined taste and expertise and a prominent figure in the art world since the 1960s. The sale is led by precious materials, notably gold which is present in all forms, from raw nuggets, gold leaf and ingots to elegant jewellery, engraved gold boxes and chased ornaments. Nearly 250 gold boxes and objects of vertu form Part I of the sale, with opulent and sophisticated designs, outstanding provenance and craftsmanship by the most renowned goldsmiths. Fine silver pieces, Chinese and European porcelain, Islamic Iznik ceramic and luxurious French and Iberian furniture are amongst the many other highlights of this collection which is remarkable in its breadth, diversity and quality. The two-part sale is estimated to achieve in the region of £2.5 million and comprises over 600 lots, with estimates starting from under £1,000.