05-01-2010 – 06-01-2010
THE NEW YORK SALE XXIII – XXIV
Held as part of the 38th annual New York International Numismatic Convention, The New York Sale proved to be a welcome move away from the subdued bidding of 2009. The majority of the interesting lots offered during the course of the week were from the Baldwin’s / Dmitry Markov / M&M auction and the high prices achieved reflected the recent trend for buyers paying well above estimate for quality and rarity. In marked contrast to last year’s event the bidders appeared to be out in force. Seth Freeman of Baldwin’s commented that there was a real buzz around this years event, both the convention and the auction and buyers ‘seemed to be focused on one thing, spending money to secure key items’. The results from the sale this year reflected the more optimistic view of the financial markets for 2010. Across the board bidders seemed less cautious than last year and prices realized on particular items were substantially higher.
Highlights from the first day of the sale included the catalogue cover piece, lot 128, a Roman Empire Drusus Sestertius which sold for US$ 17,250 against a pre-sale estimate of US$ 8,500; and lot 251, a Constantinus II Solidus, Treveri, which achieved US$ 34,500.
As ever the Indian section was strong and attracted a lot of attention, the most interesting lot being 304, a very rare Gupta Dinar, Tiger-slayer type depicting the goddess Ganga standing on an elephant-headed fish, sold for US$ 21,850.
Bidding interest and excitement centered on the Medieval, Portuguese and Russian sections and this is demonstrated by the incredibly strong prices achieved. Highlights of the section incorporate lots 470 and 628, a Carolingian Denarius of Toulouse, and a Portuguese Sancho I Morabitino which sold for US$ 13,800 and US $25,000 respectively. Lot 1027, a 1707 Shestak Half Tymf, was one of the most unique and interesting pieces in the sale. This coin was first recorded in 1897 where it was the only image available of this very rare coin and soon became the plate coin in all standard references. The groups research produced no other specimen of this particular coin offered at public auction and this was reflected in the realized price of US$ 97,500. Lot 2002, a complete set of the Order of St. Alexander Nevsky also attracted a great deal of interest and more than doubled its estimate by achieving US$ 184,000 and becoming the highest priced lot of the auction.
Held in the Norse Suite of the Waldorf Astoria Hotel in New York, the auction spanned two evenings and the room was packed for both events. Many individuals were bidding on the phone and 91 people registered to bid online over the course of the two days, proving that you no longer have to attend an auction to participate in it. 77% of the 1402 lots offered were sold and a total hammer price of US$ 4,815,136 (including premium) achieved. Lots sold online to bidders globally totaled 8.57% of the successful bidders buying 90 lots between them.
Full sale results can be found online at www.baldwin.co.uk or at www.sixbid.com