Market Report

What we’re hearing from galleries, auction houses and museums across the country

Karen Rigdon
Vice President
Fine Silver & Objects of Vertu, Furniture & Decorative Arts
Heritage Auctions

Decorative Arts are selling well and finding their ways into homes of all generations. Rather than hurting the auction industry, the health crisis of the last years has stirred new interest as we have leaned into a more insular lifestyle. Time at home caused many to reappraise their surroundings from furnishing to collections. Some refined their interiors, some decluttered storage areas or started collections. No matter the impetus, all resulted in both buying and selling. Simultaneously many shops were closed or had limited stock, which pushed customers online where the entire world could be studied and sourced. As supply issues raged, we were seeing more material consigned than ever before, and we increased the number of Decorative Arts sales, adding monthly auctions. With more opportunities and material available clients became increasingly comfortable buying online and subsequently gained confidence in bidding at auction as they learned to research archives and interact with auction experts. I cannot overstate the impact of these factors, which nearly doubled Heritage Auction’s sales in 2021.

We continue to see high demand for the best of the best, whether Tiffany Studios lamps, Gilded Age silver or American Studio Pottery. Last spring a Tiffany Studios Dragon Fly lamp sold for $275,000, a very strong result for a table lamp, and earlier a Tiffany & Co. Silver Goblet Cup sold for $300,000, a top result for American silver. We also have seen regained interest in categories such as fancy flatware servers, which may be a result of a return to entertaining, even if on an intimate scale.

It is not unusual for a client that is a solid collector in one venue to suddenly expand into other categories, which may have to do with access to archives and experts in all areas. We see a great deal of cross-over buying at Heritage, for example a solid coin collector may jump into the Art Nouveau category. What was not expected but certainly welcomed are those who have started buying at the top of the market. The most exciting instance was the purchase of a Paul Revere, Jr. spoon for $32,500 which set a world record. It was purchased as the first piece for a new collection.

Heritage Auctions
2801 W. Airport Freeway, Dallas TX 75261
www.ha.com