Maine Antique Digest, December 2016

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Maine Antique Digest, December 2016 35-D
- AUCTION -
35-D
Cottone Auctions, Geneseo, New York
Diamonds Are an Auctioneer’s Best Friend
by Fran Kramer
Photos courtesy Cottone Auctions
At the September 23 and 24 auction at Cot-
tone Auctions, Geneseo, New York, the
top lot of the sale of 700-plus lots was a
vintage Kashmir sapphire and diamond ring that
sold for $103,500 (includes buyer’s premium) to
a New York City collector. Three other diamond
pieces also sold in the five figures.
Diamond pieces made up most of the first 30
or so lots, and the spell was finally broken by, of
all things, a banjo. It was not an ordinary banjo
but a 1929 Gibson PT 6 with a plush-lined case.
It had descended in the family of the original
owner and was estimated at $15,000/25,000. The
banjo sold for $18,975.
Usually the first day of two-day sales is more
modest, with lower selling prices. Not this sale.
Twenty-seven of the 41 lots that sold for five fig-
ures came on the first day; they included silver,
sculpture, Oriental rugs, Chinese and Japanese
ceramics, scrolls, and screens. There were also a
few pieces of modern art, such as a Miró etching
that brought $16,100 and an Albert Paley forged
piece that sold for $12,075.
Three thousand online bidders from over 40
countries were in the competition, with probably
most of them unsure exactly where Geneseo is.
(Five to six hours by car from Manhattan and an
hour’s drive southwest of Rochester, New York.)
Location matters little, however, if you advertise
and have the merchandise. Cottone told us that
left and phone bids took about 45% of the lots,
floor bids took 25%, and Internet bids, 30%. The
gross total was $2.1 million.
So what was missing? There was not much
interest in Americana, folk art, Federal furniture,
or country accessories—the stuff we are used
to seeing in the Northeast. There were about
60 lots of what we would call Americana, plus
a collection of about 60 clocks from the Evan
“It is hard to find merchandise
today, but once you do,
the right merchandise
takes care of itself.”
The top lot of the sale has a 2.52-carat diamond and 3.112-carat Kashmir
sapphire set in a platinum and gold ring. The ring brought $103,500.
This pair of Chinese gold-leaf and painted jade table screens, 16" high,
deaccessioned from a New York museum, made $29,325.
This rare Waltham gilt-front
banjo girandole clock, 48" high,
descended in the family of the
original owner and sold for
$28,750 (est. $10,000/15,000) to
a buyer from Boston.
Edwards estate clock collection from Arizona.
The top price among all the clocks in the sale was
not from this collection, however; it was $28,750
for a banjo girandole clock. With a signed and
painted dial and an original reverse painting, the
eight-day weight-driven 48" high Waltham clock
had descended in the family of the original owners.
Everyone loves fresh.
What might one conclude from this sale?
Obviously foreign collectors and dealers are not
interested in Americana. American furniture and
accessory dealers are not buying heavily. The
number of collectors in these fields is not expand-
ing currently.
However, if you are in the market for Ameri-
cana, there are great buys to be made. Consider
that a set of six New England Hepplewhite chairs
with reeded backs and in that old finish, estimated
at $300/500, sold for $201. Go to Costco and
compare the quality of their dining room chairs
to those. A splay-leg Sheraton one-drawer cherry
stand in old refinish brought $288.
Matt Cottone, Sam’s hard-working and smart
son, who goes on house calls, answers phones,
picks up items, etc., gave us some candid com-
ments and provided us with much insight into the
current antiques market, so we quote them for
your benefit. “Yes, there are more and more inter-
national buyers, some new and some previous
happy clients. They are a huge part of our busi-
ness. They have confidence in us.
“It is hard to find merchandise today, but once
you do, the right merchandise takes care of itself.
“Dealers have a lot of hard work today finding
things people really need, finding things they can
handle easily, ship or transport easily, because the
piece has to have enough value itself to justify the
costs and make sense to buy. Overall the prices
were what we expected from today’s market; cer-
tain things remain low, others high, like silver,
fine jewelry, Oriental items, Tiffany lamps, and
modern art.”
Pretty sage comments from a 37-year-old.
The well-organized sale featured a nice color
catalog, free food, easy parking, and plenty of
room to view the lots.
The top silver lot was
this Paul Storr sterling
silver tea urn, 15"
high x 17" wide. It
came from a private
collection. Estimated at
$20,000/30,000, it brought
$19,550 from a Denver
collector.
This 17" high 1858
French sterling silver
agricultural figural
presentation piece
sold for $18,975.