AUCTION RESULTS

[Chishiki]

Hi, some big auctions coming up. It would be great to get some feedback and comments on the market from those who attend. Regards Mark. good luck any members who may be bidding.

[DGARBUTT]

There were two auctions in NYC this week to kick off the Arts of the Samurai exhibit at the Met. The auction at Bonhams was pretty much a bust for the swords. They had 40 or so swords for sale with the quality from excellent to mediocre. The problem was the estimated prices and the reserves. The estimates/reserves did not reflect the current market. Only 5 swords sold. Interestingly two of those were Sukesadas, a wakizashi went for $3,660 and a katana went for $7,320 - but the katana had a gold cutting test. Both were signed Bishu ...... Also sold was a mumei tanto in nice mounts with NTHK papers to Horikawa Kunihiro for $30,500 - probably a good price IF it reallly is a Kunihiro, but I didn't think so. The other big dollar item was a ken in spectaluar dragon mounts with a 3 dimensional dragon wrapped all around the saya for $42,700. Unsold were a jyuo token Gojo, a juyo token GO Yoshihiro, a beautifuol naoe Shizu waki in nice mounts, an UBU nagamaki by Kanabo Masatsugu with orignal muromachi mounts, a shinshinto Jusan with beautiful dragon horimono etc. Unfortunately the Bonhams web site does not have very good pictures so you can't really see anything. Interestingly Bonhams has for sale by "private treaty" ( I guess the UN has to negotiate this) juyo bijutsuhin Rai Kunitoshi, unsigned but Ubu with mounts, a tokubetsu juyo Bizen Kunimune ubu with mounts and a tokubetsu jyuo Kaneuji. The Kunitoshi and the Kunimune are very elegant, slim swords with tight hada and suguha hamons while the Kaneuji is very flamboyant and a real chopper from Nambokucho.

 

I will try to post a message later about the swords at Christies which were of exceptionaly quality and sold fairly well. You can go on the Christies' web site and see the swords pretty well, they have photos that you can zoom in.

 

Dale

[paulb]

Thanks for the info Dale. Looking at Chrisities results I confess I have no idea what is going on. For some time in the UK I have beleived that Bonhams were taking the lead in sales of swords and armour. These two sales in New York totally contradict that trend. Also wondering why the armour did so well in Bonhams but the swords failed.

A couple of other interesting points coming out of the Chrisities sales.

The most successful sale, The Ichimonji Tachi sold for $146K but only had Hozon papers as did a blade by Ryokai which achieved a reasonable price. I think over recent years buyers have increasingly focussed on papers, mainly because they are buying unseen and gain a sense of security fom that attribution. This sword demonstrates the alternative attitude of obtaining a basic paper to confirm what it is but letting the swords quality do the rest.

 

Dale,

I was intersted in your point regarding the Tanto sold at Bonhams. Obviously the buyer was comfortable enough with the Horikowa attribution to spend $30K+ on this piece but you had your doubts to its authenticity can you share what it was about it that made you think the NTHK attribution was wrong?

Regards

Paul

[Jean]

Dale,

 

Thanks a lot for the feed back and the confirmation of what was said of the estimations not reflecting the market mood

[Eric H]

Christie's 23 october : RESULTS

 

http://www.christies.com/LotFinder/sear ... fde8e37186

 

Eric

[DGARBUTT]

I attended the Christies' viewing in person and the sale via the internet. The swords at Christies were some of the finest I have ever had the opportunity to exaimine and that includes my trip to Japan for the 50th anniversary of the NBTHK about 11 years ago. The Go Yoshihiro was spectacular. Words really fail me in trying to describe the level of the workmanship. The Christies' description ended with "This is nothing less than a masterpiece." and I have to agree. Plus there was a juyo Yoshioka Ichimonji, an Ubu tokubetsu jyuo Katayama Ichimonji, an almost ubu juyo Nagamitsu of really imposing proportions, a jyuo o-suriage Nagamitsu, a juyo Taema, a juyo Tergai Kanenaga wakizashi, a juyo Reisen Sadamori. TWO jyuo Hizen Tadakunis, a juyo Horikawa Kunimori, a shodai Tadayoshi tanto in ensuite juyo Tomei mounts, the finest naginata I have ever seen, by Sukesada, and a number of other fine blades whcih were a pleasure and an educational experience to handle. My friend and I were the ONLY people looking at the swords. We examined everything at our leisure. I tell you this to encourage those in traveling distance to follow the spring and fall NYC auctions and make every attempt to attend when quality blades are on offer. Where else can you spend all day looking at good and sometimes great swords?

 

Not to be too mercantile, but it does seem that prices for juyo swords are falling. My pesonal opinion had been that the best swords were holding their value. The Christies' sale changed my mind. The juyo Yoshioka Ichimonji, a beautiful sword, went for $30k (all prices include the 25% buyer premium unless I quote the final bid for unsold lots). Neither Tadakuni sold, one had been sold at Christies in 2007 for $91k and only reached a bid of $45k, the juyo Taema went for $22k. The Go went for $194k and the almost ubu Nagamitsu stopped at a final bid of $170k and the other had a final bid of $50k.. I may be wrong and it may be that this sale was an aberration in terms of results but I don't think so. 2/3 of the swords in this sale sold compare to a 10% sale rate at Bonhams. The Chrisites' swords were estimated and reserved at much more realistic numbers.

[Chishiki]

Hi Dale, this exactly the type of information you cannot get by simply looking at an online catalogue. thanks. A couple of questions if you don't mind.

 

1. I remember a couple of lots (naginata and tomei mounted hizen tanto) coming from a US based internet sight. Do you know if all the vendors for swords and armor were US based or were some of the lots brought out from Japan?

 

2. The armor and both Bonhams and Christies seemed to out perform swords. Did you get that impression? Is the market shifting focus to armor and fittings? I know you can only give a personal opinion, I was just amazed at the prices some armor achieved.

 

Again, thanks for the sale room report.

 

Mark

[DGARBUTT]

Most, and probably all, of the swords at Bonham's were from US collectors. I don't know about the armor. At Christies there were swords from both the US and Japan, again I don't know about the armor but I suspect it was from both the US and Japan.

 

I also don't want to give the impression that sword prices have collapsed. I think that perhaps they are more unpredicatble than previously. For instance the juyo Reisen Sadamori went for just $16.2, while a very nice Bishu... Sukesada went for $21.5, the Horakawa Kunimori daisho with juyo dai went for $86.5 and a shisnhinto "daisho" by Yoshishige and Massaki went for $46.2. Both the aformentioned "daisho" and the Sukesade substantially exceeded the estimate. It should also be noted that the fancy tantos did quite well with prices from $10 to $22k.