The collection of 20th Century furniture assembled over a ten-year period by Laurent Negro was sold at a loss for the market-minded collector. One reason offered by observers is that Negro had become the top end of the market during that period leaving no one to sell on to in a large sale such as this:

The Christie’s International three-day sale in Paris of the contents of the Chateau de Gourdon museum accumulated by Laurent Negro raised 42.4 million euros ($60 million) with fees. Demand was selective. The total at hammer prices was lower than the estimated 40 million euros to 60 million euros [...]

Negro lost money on a number of pieces. He paid $386,500 for Jan and Joel Martel’s 1931 aluminum Art Deco sculpture of an express train, “Locomotive en marche,” at Sotheby’s (BID),New York, in 2008. It sold for a hammer price of 200,000 euros. A 1927 Gustave Miklos bronze sculpture, “Jeune Fille,” fetched 1.15 million euros without fees. This had been bought at a French auction in June 2005 for 1.6 million euros. The purchase price of the design collection had been higher than the low estimate, Jonathan Rendell, Christie’s New York- based deputy chairman, said in an interview before the event.

‘World’s Best’ Modern Design Sale Fetches $60 Million in Paris (Bloomberg)

The market for design and decorative objects seems to have rebounded off the post-crash lows. This week presents a good test of the market with sales in Paris and Vienna. The Wall Street Journal‘s Margaret Struder previews the Joop sale and the various owner collections”

A star lot will be a unique lacquered sideboard decorated with wondrous animals that was created around 1930 by Printz, Switzerland’s lacquer master Jean Dunand and French artist Jean Lambert-Rucki (estimate: €300,000-€500,000). The animals on the cabinet were used in some accessories’ patterns for the autumn/winter 2009 collection for the Wunderkind fashion label, Mr. Joop’s womenswear collection. [Read more...]