Rago's Sets All Time Record for Arts & Crafts Movement Design Sold at Auction. Tile Panel with Peac Rago's Sets All Time Record for Arts & Crafts Movement Design Sold at Auction.
Tile Panel with Peacock by Frederick Hurten Rhead for University City Realizes $637,500.
Lambertville, NJ: Rago Art
News-Antique.com - Nov 05,2012 - Lambertville, NJ: Rago Arts and Auction Center's 20th /21st C. Design sale: $6.6 million, October 26, 27 and 28, 2012.
Bidders in-house: 143
Bidders on phone: 306
Bidders online: 527 (20th C. Pottery and Glass); 652 (Early 20th C.); 1074 (Modern)
Number of lots: 1703
Percent sold: 82%
Hurricane Sandy, bearing down on us, made only slightly more noise than the results of the auction, says David Rago. The sale grossed $6.6 mil and the market, especially for high end Arts and Crafts, was very, very solid. The Rhead tile gets the headlines but many records were broken for a number of American potteries. The Forbes sale was strong almost right across the board, hammering right in the middle of the estimate range.
The Rhead tile sale topples the auction record set in November 1999 with the sale of Barbara Streisand's Gustav Stickley sideboard at Christie's for $596,500. The buyer is the Two Red Roses Foundation of Palm Harbor Florida, a non-profit educational institution dedicated to the acquisition, restoration, and public exhibition of important examples of decorative and fine art from the American Arts & Crafts movement.
Early 20th C. Design/Arts & Crafts: October 26 and 27, 2012
Hammer + 25% buyer's premium: $ 3,432,931
Forbes: Low: $345,200; High: $501,700
Main Arts and Crafts: Low: $1,405,300; High: $1,991,950
20th C. Pottery and Glass high and low estimates: Low: $217,300; High: $318,250
Percent sold: 85%
8% of online bidders outside the U.S.: UK, Canada, Europe, Russia, Asia, Australia, Central America, South America, Middle East.