Home > Hot Button Issues >Beautiful but lacks soul 3:sotheby 33 million
Author:jc
email:
Wed, Jun 5th, 2013 11:44:40 PM
Topic: Beautiful but lacks soul 3:sotheby 33 million

The Clark/Corcoran Gallery of Art "sickle-leaf" carpet just sold for......33 million 765 thousand dollars -- this price includes the buyer's premium.

Congratulations to the new owner.

Now then, what would a great Safavid masterpiece carpet sell for?

100 million???

Author: jc
email:
Wed, Jun 5th, 2013 11:44:40 PM

Speaking of perspectives, our friends over at that rag hali need to get their perspective spectacles adjusted.

Sorry, hali-kins but just because the Clark/Corcoran sickle-leaf carpet end up selling for $33m it does not necessarily follow that your statement this puts "...rugs in the same collecting category as Old Master and Modern paintings.", as it stupidly appears on your website this morning, is true.

Listen, lads, just because one rug sold one day for 33 million doesn't mean a whole hill of beans in any sense of those words.

And, anyway, there are now hundreds of such paintings that have sold for as much, and many for quite more.

So when, let's say, twenty-five rugs have achieved such prices then, maybe, your statement can be seen as anything but the ridiculous hype and ludicrous myopia that typically permeates your reportage.

Also, considering the next highest price $4,645,000, for lot 19 at the Corcoran Art Gallery sale of their carpets, was only a bit more than ten percent of the sickle-leaf carpet's price it surely does not seem the dam is broken and a flood of hot cash is going to suddenly stream into oriental rugs. Or make their marketing even a pin-prick of what exists for such paintings.

And by the way RK is sure the pencil pushers at that rag hali are not awake or astute enough to notice both of the carpets at the sale which bettered the million dollar mark, the Clark sickle-leaf lot 12 and lot 19 the Lafoes carpet, both had "names" attached to them.

And don't you think those "names" are what the buyers and underbidders bent their wallets for, or tried to in the case of the latter?

If you don't then RK suggests you go study the art world and realize no painting, no piece of sculpture, no drawing, in fact no high priced piece of art will sell for such a price unless that "name" is there and believed by both expert and buyer alike.

Author: jc
email:
Wed, Jun 5th, 2013 12:02:41 PM

Perspective more than price is the most important way to look at the sale of the Clark sickle-leaf carpet.

One of RK respondents said, when we talked with him after the sale: “That’s a hell of a lot of money”.

But when RK said “Compared to a modern or contemporary painting it surely isn’t”, after a few seconds of silence he said “You know, you are right.”

As we predicted the rug sold for much more than the estimate, and while we surely were on the low side, in fact just half considering hammer price ex-premium, it was a no-brainer to say it would.

We are also sure its small, apartment-put-it-on-the-wall, size was one of if not the main reason for it making that price.

But more worth comment than the price, who bought it, etc, is the fallacy “it’s good for the rug business”.

This is a nonsense idea floated to RK by numerous people both before and now after the sale.

Yes, it gets publicity and puts “rugs” in the newspaper and maybe on TV (somewhere).

But compared to, say the recent contemporary art auction at sotheby where a number of works outsold the sickle-leaf by good margins, it really in actuality is nothing but a so-what in the “art world”.

And the larger issue, a famous American art museum sold it, completely deflates and negates any positive spin this story can generate for oriental rugs.

Were it bought by a famous American museum, then Yeah that’s sumptin’.

And even if it was purchased by a museum in the Persian Gulf, or Brunei, or somewhere else, it sends a message loud and clear: American and European museums are not only disinterested in rugs, they are selling, ie getting rid of, the ones they have.

This can’t be spun into a winning play, nor can it be believed to be one by anyone who can chew gum and throw the wrapper away at the same time.

One last comment: the fact the under-bidder was peter pap makes absolutely no sense.

Yes, it is common knowledge in rugDUMB pap has a “big money” client who has purchased some pricey Turkmen pieces from him.

However, from we have heard about this client, including his name, his business, and place of residence, it does not make sense that he would be bending his wallet to the tune of 34 million dollars to purchase that rug.

No, no, RK suspects far more is going on here than pap holding up a paddle his aforementioned client put in his hand and would have gotten the invoice had pap been the buyer.

Let RK share our suspicion what is going on here with our readership.

We think pap was working with the buyer’s agent!

RK can hear you’all thinking: What, wadda mean RK???

Here’s the poop on pap – he was bidding just making the price high enough for the buyer’s agent to get a fat, real fat commission.

But more importantly, if you’all don't know the following, let RK clue you in.

The people who are rich enough to consider 33,750,000 dollars pocket change are happier when they are spending a lot of their money, and not so happy when they get a trophy cheap.

And that’s what this rug is, a trophy.

Understand this fact: if it sold for 10 million it would not be a great rug … but since it sold for 34 million it IS a great rug.

And while our saying pap was a patsy, just there to raise the price, is complete off the wall speculation we wouldn’t write it if we did not believe it has more than a slight chance of being fact.

So pap was bidding to raise the price on instructions from someone who was involved with the person who bought it.

Think about it….

Author: jc
email:
Wed, Jun 5th, 2013 09:57:10 AM

More news from the salesroom in NYC.

RK has heard the underbidder was peter pap.

Seems kinda wacky, as from what the gossip about mr pap relates he is nothing but a struggling rug schlepper who not only doesn't pay on time to his many consignors, they are lucky if they get paid within a year.

So much for pap in the big leagues as anything but an errand boy.

We have also learned Mr Tabibnia and his rug loving benefactor, Mr Roman Zaleski, bid up to 9 million and then called it a day.

More to come, keep tuned to RugKazbah.com where rug news that matter appears first.

Home   Buy/Sell at the Kazbah   Terms Of Service