Home > JC'S Corner >Jumping ship
Mon, Jan 20th, 2014 11:55:29 PM
Topic: Jumping ship

Perhaps the most interesting and noteworthy aspect of the coming sotheby New York sale is why well-known collectors like William, aka Bill, Price from Texas, USA and Ben Fernandes from Singapore have decided to sell so many of their best pieces at this time?

After collecting for decades, and being rather comfortable financially, why would they jump ship?

The market for antique oriental rugs is a small and shallow one; it has proven to be so as long as RK can remember.

The sotheby sale is, market-wise speaking, loaded with exemplary lots in almost every category. Many are seriously underestimated.

Some like the Chesrow embroideries, and two asmalyk RK has already mentioned are seriously over-estimated.

Will the market, i.e. the dealers and collectors, be able to differentiate and then bid accordingly? Or will they swallow the bait and believe a low estimate equates to low quality and high estimates equate to high quality?

The sale is full of questions like these that will only be answered when the auctioneer's gavel falls on the final lot.

If there is anything that can be said universally about the sale it is to question the rational of trying to sell so many excellent pieces at one time.

If the sale succeeds will it flush out many more items from other "old time" collections?

Will it bring new collectors to antique oriental rug collecting?

Or will it choke the market this time around and cause panic among certain groups of rug collectors and force them to unload, weakening an even weaker market?

RK has thought long and hard about this sale and must admit either there is much going on under the surface of this sale that we and you are not privy to or it is an eyes-wide-shut gamble collectors like Fernandes, Price, Hendrikson, others unnamed and sothebys have taken?

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