Bonham's NYC Auction

Curran · October 14, 2012

I spent a second day going over the items for the Bonham's auction.

The condition and care of the items is better than my prior experience with other auction houses.

Notes:

(1) Auction catalog descriptions were excellent. This is something upon which I would fault Christies and praise Bonhams.

Some of the website descriptions have minor notes where the book missed something, such as signatures on menuki. In the instance of at least one koshirae, a buyer may get a pleasant surprise

if they ever notice the signature on the menuki just barely visible under the wrap.

(2) Some of the swords are nicer than I anticipated. I fell in love with one of the Juyo, but probably going to need just admire it from afar. I would have initially thought it overpriced, but it is such an excellent example in master polish. There are more than a few nice blades in what is mostly one owner's liquidaiton. Someone had some taste. Only a few swords showed the neglect we often see on swords come to auction.

(3) Specifics... ask someone else if the Muramasa is a real one or not. It is a fine sword. I'll be surprised if that one doesn't go for a bit more. Fine habaki on it.

(4) Fittings should be interesting. Lots of late Edo kinko, some of it very over the top. Not what I collect, but it doesn't seem on the market very much. One auction such stuff seems to go for a lot, and the next time not so much. There is one I would like for myself, but I think the reserve a bit high. One of the menuki sets was excellent, but I didn't have time to try and validate the signature.

Some very unique pieces in the mix. I saw a carved tsuka the likes of which I'd never seen before. Thought it was leather right up until holding it in the cotton gloves. I may attend the auction in vivo at least through the fittings part.

Even if the poor current world economy shivs this auction, the Bonhams people did a fine job with finding, care, and description of the items.

Jean · October 14, 2012

By curiosity, which juyo was it Curran?

NihontoEurope · October 14, 2012

Thanks for the report!

Some very interesting objects.

/Martin

Lance · October 14, 2012

Not a big deal but the Helmet on the cover of the catalog is listed as being a Kappa, (water spirit) but it looks more like a Tengu. Below are some links to compare; an example from an earlier Christie's auction, I think it was also in Ian Bottomley's book Arms and Armor of the Samurai?

http://www.bonhams.com/auctions/20503/l ... 0%26m1%3D1

http://www.christies.com/lotfinder/lot/ ... 04095&sid=

Regards,

Lance

Curran · October 14, 2012

I looked at that helmet since it was right by the entrance. Didn't read the catalog entry on it. Yes, I would call it a Tengu too.

Jean, I'm keeping my mouth shut for now. I am sure it will sell, but I've left my contact information with them on it. Should it *not* sell, I may try and negotiate through Bonhams.

If that were to happen, I'd be fire selling a few things.

I admit I did think of you and your 5 from the major Koto groups. I know you already have a fine example from this group, or I would have been telling you to buy it. PM me if you really want to know.

Surfson · October 15, 2012

Man, I just went through that catalog. What an impressive collection. Somebody mentioned that it was mostly one collector - is it known who it is? I would be in big trouble if I went to that auction, and would probably end up having to take out a second mortgage to pay for the must have items that I bought.

Curran · October 15, 2012

I too wish I knew.

I find auctions impossible to gauge. I've seen auctions of ma-ma stuff go for multiples of current fair value. Other auctions where excellent stuff went for very little.

In particular was a Tokubetsu Juyo student of Masamune sword in pristine polish and condition that went for $50-$60K.

I'm hoping this auction goes well, as the Bonhams people have done a good job for the most part.

Given that I work in finance, I get doused in buckets of the economist and trader's international gloom-n-doom. You'd think it was global extinction around the corner.

It remains pretty thick at present, so I don't know if international buyers will show up unless seeking hard assets to protect against governments turning on the printing presses to pay their old debts.

Jean · October 15, 2012

There is absolutelly no urgency Curran, I shall wait

Soshin · October 16, 2012

Hi Curran and Jean,

Here my favorite tsuba of the auction: http://m.bonhams.com/auctions/20503/lot/1028/. Needless to say it is not Late Edo or Kinko. I registered with Bonhams website and I am prepare to dream.

Yours truly,

David Stiles

mdiddy · October 16, 2012

I was able to preview the items over the weekend. There was a lot to look at - too much for one day - and was almost equivalent to going to a show. There were some very fine pieces. A few I had seen and handled before but now they are for sale I spent a little more time going over and enjoying them. Besides the outstanding swords, there were outstanding fittings including some over-the-top koshirae and a massive tanegashima. There was certainly a lot more to see and learn than differentiating showato. Well worth a day trip.

Looking forward to seeing how things turn out this afternoon.

Marius · October 16, 2012

Here my favorite tsuba of the auction: http://m.bonhams.com/auctions/20503/lot/1028/. Needless to say it is not Late Edo or Kinko. I registered with Bonhams website and I am prepare to dream.

David, I hope you won't get a nasty surprise. I know it looks like the one in Tosogu no Kigen, but it seems a revival copy.

Soshin · October 16, 2012

David, I hope you won't get a nasty surprise. I know it looks like the one in Tosogu no Kigen, but it seems a revival copy.

Hi Mariusz,

Yes it reminds of that tsuba which was also featured in Sasano first English translated book on Sukashi tsuba. Sorry I don't have the page number as I am at work and don't have my copy of the book. How old do you think it is? I did notice that it comes with a old NBTHK Tokubetsu Kicho origami. I do remember seeing a late copy of a famous Ko-Kachushi tsuba without papers listed on eBay a few years ago. The Japanese seller was honest and listed it as be made in the Taisho Period.

Yours truly,

David Stiles

Jean · October 16, 2012

Curran,

Was it the Naotsuna?

Marius · October 16, 2012

Yes it reminds of that tsuba which was also featured in Sasano first English translated book on Sukashi tsuba. Sorry I don't have the page number as I am at work and don't have my copy of the book. How old do you think it is?

Yes, you are referring to page 45 of Sasano's golden book.

The Bonham's tsuba is "ubu" and although it is extremely hard to judge from their low-resolution pics, I would say it looks like a later piece. I do not like the round, thick rim, and I do not like its size. If it were an ubu early Muromachi katchushi tsuba, the price would easily reach $$,$$$. If the price goes that high, I might be wrong. Japanese collectors would fight for such a piece, I presume. I suppose it is a 19th c. revival piece.

mdiddy · October 16, 2012

Now that it is over I will say I was most impressed with the Yamato Shizu katana. Remarkable hada.

Curran · October 16, 2012

Was there today. Most interesting sale....

Bottom line:

-----Armor strong , but often seems to do well at auctions.

-----Fittings strong , wow. I thought the estimates were nosebleed high, but many went near estimates. Most of the gimei went for less than estimate.

-----Swords weak , had I known the reserves were so low- I think I would have gotten the Juyo I was after.

Jean, one or two big buyers in the room. But mostly online and phone bids. Some phone wars over fittings and a sword that I liked.

I have no idea why the Naotsuna went for that much. Really didn't do much for me, and I thought the estimate was a typo.

It was #1136, the Shikkake that I was hoping wouldn't sell. I was very caught off guard when they started the bidding so low and couldn't mentally process that such a beautiful blade went for so little. It didn't look like much in the photos, but was D-IF GIA certified diamond in person.

Still a little stunned....

I last minute decided to bid on a tsuba that I liked. So I did that one in person. Bid, got outbid, and trader's reflex is not to bid again.... but I really should have. Fine tsuba by a lesser known at a fair price. Biting my lip on that one. Photo in the catalog didn't do it justice.

----->> Much of the bidding seemed logical to me, but there were maybe a half dozen "WTFs". Again, the Naotsuna was one of them. The Shikkake was also a WTF on the lows side.

Bonhams people really did a good job for the most part, as this was a complex sale with a lot of information disclosed on many of the items.

Soshin · October 16, 2012

Hi Everyone,

The tsuba that I liked but didn't bid on sold for "US$ 13,750 inc. premium" quoting the Bonhams website. This was way above the estimate which at the lower end was in my price range. I wonder what the NBTHK paper said about the tsuba. Based upon the final price I think a few of the bidders were thinking it dated from the Muromachi Period. I agree with Curran statement about fittings prices in general with this auction.

Yours truly,

David Stiles

Curran · October 17, 2012

David,

Heavy phone / on-line action on that one.

I looked at it at least twice. Another experienced person thought it real.

I reserved judgement, because I think it got the "shake-n-bake" from someone in the last 20 to 30 years since the papers were issued.

Some signs of what I take to be the work of heavy handed repatination.

Other than that, it felt fairly right. But my feeling is someone gave it their super secret barbecue sauce.

I know one west coaster who has often done that to papered tsuba and worked hard to recognize his influence. I thought I saw it bigtime there.

That sort of killed it for me.

Soshin · October 17, 2012

David,
I reserved judgement, because I think it got the "shake-n-bake" from someone in the last 20 to 30 years since the papers were issued.

Some signs of what I take to be the work of heavy handed repatination.

Other than that, it felt fairly right. But my feeling is someone gave it their super secret barbecue sauce.

I know one west coaster who has often done that to papered tsuba and worked hard to recognize his influence. I thought I saw it bigtime there.

That sort of killed it for me.

Hi Curran,

This really upsets me to hear that someone would do this to a papered tsuba.

Yours truly,

David Stiles

NihontoEurope · October 17, 2012

Here is an excel sheet with prices and some reference to what was sold.

For how long the links to the actual objects will work, I do not know.

I sorted the list based on price.

[attachment=0]BONHAMS - Arts of the Samurai - Auction 20503.xls[/attachment]

Enjoy!

/Martin

mdiddy · October 17, 2012

but there were maybe a half dozen "WTFs".

I give a WTF to the Minamoto Yoshichika.

sadi74 · October 19, 2012

Hi all,

just got interested in Japanese Swords....and took the opportunity to go to Bonhams just to study the different swords & to get a feel of the pricing!

Honestly, I don't have a big budget, but I want to spend my money rightly....

I was interested in the Yamato Katana, Lot # 1140 for the pricing, but was surprised that it did not sell:-

http://www.bonhams.com/auctions/20503/l ... 6b1%3Dlist

Any reason Why??? It is a Kamakura Period Sword....and was in decent condition!

Also I would like your opinions on the Horimono Swords & the Cutting Test Swords, which one did You guys like???

Sam Pitrod

Soshin · October 19, 2012

Hi all,
just got interested in Japanese Swords....and took the opportunity to go to Bonhams just to study the different swords & to get a feel of the pricing!

Honestly, I don't have a big budget, but I want to spend my money rightly....

I was interested in the Yamato Katana, Lot # 1140 for the pricing, but was surprised that it did not sell:-

http://www.bonhams.com/auctions/20503/l ... 6b1%3Dlist

Any reason Why??? It is a Kamakura Period Sword....and was in decent condition!

Also I would like your opinions on the Horimono Swords & the Cutting Test Swords, which one did You guys like???

Sam Pitrod

Hi Sam P.,

Nice meet you. Japanese swords is a very interesting hobby. My advice is not to buy anything just yet even if you have the money but invest in going to a few shows, talking with more experienced collectors (Nihonto Clubs) , if you haven't already purchase a few books on the subject I would do that as well. The Yamato-den blade you linked to is nice but not my area of focus for my collection. The item description looks fine but I would make sure you are aware of the Japanese terms used to discuss the details of this specific Nihonto.

Yours truly,

David Stiles

Eric H · October 19, 2012

JuTo 1196 Unju

Question to members who had it in hand.

What is seen on the photo, are these openings or is it a side effect of the scan?

Eric

paulb · October 19, 2012

Sam,

trying to predict what will and wont sell at auctions at present is akin to witchcraft. there seems little reason in it.

The blade you mention looks ok and there is nothing that I could see in the description that would suggest it had any significant faults.

One thing against it is that it has old Kanteisho papers, infact they are about as early as it gets at 1957 (I thought the NBTHK started this system in 1958 but that may just be a fault in my memory) Had the sword been papered more recently it may have achieved a better result.

Also age on its own is not an indicator of value. There are some, me included, who rate Yamtao blades very highly but for others they lack the attraction of Bizen and Soshu work. So the market is more limited.

Regarding cutting tests- Authentic ones add value, but there are very many fake tests applied to blades at a later time to attempt to enhance value. So unless such a test is authenticated they are best avoided.

Otherwise agree with David hang on to your money until you have had the chance to see a lot of swords and talk to experienced collectors.

good luck

Paul

Curran · October 19, 2012

Sam,

Please come to the New York Nihonto Club meeting.

I believe it will be on October 28th at 12noon in the usual meeting place in Times Square.

PM me for further details or visit the website: http://www.ny-tokenkai.org/ny-tokenkai. ... n_Kai.html

Takahashi · October 21, 2012

Interestingly the Yusho papered blade attributed to Nidai Muramasa was not sold.

Does anybody know why? Usually his blades are sought after and I have seen some unpapered ones which went for about that price.

As I could not check the blade myself I am not sure of its condition but the pictures seemed to be okay and it was papered though I never heard of the Eastern Japan Art Sword Society.

Cheers,

Curran · October 21, 2012

The Muramasa:

Not an area where I know much. There have been some good threads on NMB in this area.

The sword itself was a very nice elegant thing. If mumei, it would have caught my attention.

Something about the nakago condition patina or feel said that it was not original, but maybe it was done long ago.

The only thing I noted the second time I observed it was an odd scuff and distortion on the edge about 8 to 10 inches from the kissaki.

My thoughts were someone couldn't resist to use it to cut something, and did so poorly. One poor cut... bamm, there goes a % of the value.

All this said, I still couldn't believe it didn't receive more bids. If the Naotsuna was the high end WTF, then the Muramasa was contender for the low end WTF.

sadi74 · October 22, 2012

Thank You David....advice well taken!

Curran · October 22, 2012

I should point out that the Yushu papers on the Muramasa were not from the NTHK.

Yushu papers from some lesser or unknown 3rd party don't carry much weight.

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