Appraising Judaica: Following new trends in Judaica Auctions
Posted by Elizabeth Kessin Berman, A.A. A.N.A.
Here's my first posting on issues in appraising Judaica.
It used to be that I would wait patiently for the Judaica auction season and then, after studying the limited objects put up at auction, I would settle down to study the catalogs and the results through the winter and spring. But this year, Judaica auctions continued into the winter and well into the spring. Some auction houses have even started organizing Judaica auctions every other month.
The auction floor has also expanded. Not all of the important Judaica pieces are going to the large auction houses in major world capitals. Smaller auctions houses are attracting Judaica collectors and Judaica collectors are more willing to divert their attention from New York. There are now other stages.
At Skinner Auctioneers in Boston, auctioneers were very pleased with the results of their Judaica sale held in late May. Their website that reports: “Skinner's May 2009 auction of Fine Judaica was a tremendous success, more than tripling the pre-sale estimate and grossing over $1.2 million for just over 200 lots of antique and artisan Judaica. The top lot in the sale was rare and important silver and silver gilt Synagogue Ark-form Hanukkah Lamp, originating in Brody (Galicia), and dated 1787. Auctioned for an astounding $314,000, against a pre-sale estimate of $60,000-80,000.” At Kaminski’s Auctions, located in a suburb of Boston, several Judaica items often appear in each of their monthly auctions.
Just last year a new auction house was launched in Jerusalem: Kedem Auctions is producing stunning catalogs with well written well researched titles. The catalogues are written in both Hebrew and English and they contain a wealth of information for collectors, historians and appraisers alike. Kedem auctioneers are not only up on their research, they are also very ambitious. They are holding auctions every 2 or 3 months. Kedem is also pushing the envelop and offering items that are not your well-known ritual Judaica objects. They are identifying new areas of Judaica collecting. More on this in my next blog.
I’ve also been following several on-line auctions such as Ben Ami Endres and a few others operating as Ebay stores. Additionally, a few auction houses who are principally known for their offerings of Modern/Contemporary Israeli artists are also attaching Judaica objects to their sales. Tiroche in suburban Tel Aviv has several sales of Judaica and these are often included with European decorative arts. Hammersite in Ramat Gan, Israel, also has Judaica lots included in some of their auctions.
(Click Read More below for the rest of the Article)
Despite the competition, New York still remains a focal point for studying Judaica auctions. The Fall is still the prime season. Kestenbaum and Company as ever continues to produce very fine catalogues and sales, concentrating mostly on rare books and manuscripts. Frequently, fine Judaica is tucked in at the end of their auctions. At Kestenbaum’s September 10th auction, the report was somewhat optimistic, as reported on their website: “Fine Judaica yielded very respectable results considering the sluggish state of the economy. Of the 321 lots offered, 90% sold, thereby affirming that Judaica remains a very active market of committed collectors. Nonetheless, clients were somewhat conservative with their bidding practices, thus reflecting differing prices relative to previous auctions.” Their next sale will be December 10th, being the 4th of 2009. At J. Greenstein and Company, also in New York, their last sale was in June 2009. But the next will be January 11, 2010 with about 150 lots. For the past few years, Jonathan Greenstein has been holding spring and fall sales. This year Sotheby’s Fine Judaica Sale is early this year – on November 24, in the morning.
What does this have to do with the appraiser? Well, when appraising Judaica, I’ve had to get acquainted with the new venues and learn the different trends. Finding value in Judaica is now not a simple matter of finding comps at season intervals. One also has to talk directly with those involved in the market place, view the offerings each month and study the results. Beyond that a lot of serious collectors are actual traveling to important sales and discussing amongst themselves the characteristics and strengths of certain objects. At Skinner’s May preview in Boston, for instance, there was a lively discussion among many collectors who came from all parts of the world and the bidding was serious on the following day with record sales.
And so, a “comp” in 2009 might very well be trumped for one just a few months later. In writing Judaica appraisals, I’ve got more on the table to consider than I have had in previous years.
Next blog: there are many new areas of Judaica collecting. I’ll report in on what I am seeing in private collections and objects that are new to Judaica auctions.
Elizabeth,
Visit my site at
www.judaicaincontext.com
Posted by Elizabeth Kessin Berman, A.A. A.N.A.
Here's my first posting on issues in appraising Judaica.
It used to be that I would wait patiently for the Judaica auction season and then, after studying the limited objects put up at auction, I would settle down to study the catalogs and the results through the winter and spring. But this year, Judaica auctions continued into the winter and well into the spring. Some auction houses have even started organizing Judaica auctions every other month.
The auction floor has also expanded. Not all of the important Judaica pieces are going to the large auction houses in major world capitals. Smaller auctions houses are attracting Judaica collectors and Judaica collectors are more willing to divert their attention from New York. There are now other stages.
At Skinner Auctioneers in Boston, auctioneers were very pleased with the results of their Judaica sale held in late May. Their website that reports: “Skinner's May 2009 auction of Fine Judaica was a tremendous success, more than tripling the pre-sale estimate and grossing over $1.2 million for just over 200 lots of antique and artisan Judaica. The top lot in the sale was rare and important silver and silver gilt Synagogue Ark-form Hanukkah Lamp, originating in Brody (Galicia), and dated 1787. Auctioned for an astounding $314,000, against a pre-sale estimate of $60,000-80,000.” At Kaminski’s Auctions, located in a suburb of Boston, several Judaica items often appear in each of their monthly auctions.
Just last year a new auction house was launched in Jerusalem: Kedem Auctions is producing stunning catalogs with well written well researched titles. The catalogues are written in both Hebrew and English and they contain a wealth of information for collectors, historians and appraisers alike. Kedem auctioneers are not only up on their research, they are also very ambitious. They are holding auctions every 2 or 3 months. Kedem is also pushing the envelop and offering items that are not your well-known ritual Judaica objects. They are identifying new areas of Judaica collecting. More on this in my next blog.
I’ve also been following several on-line auctions such as Ben Ami Endres and a few others operating as Ebay stores. Additionally, a few auction houses who are principally known for their offerings of Modern/Contemporary Israeli artists are also attaching Judaica objects to their sales. Tiroche in suburban Tel Aviv has several sales of Judaica and these are often included with European decorative arts. Hammersite in Ramat Gan, Israel, also has Judaica lots included in some of their auctions.
(Click Read More below for the rest of the Article)
Despite the competition, New York still remains a focal point for studying Judaica auctions. The Fall is still the prime season. Kestenbaum and Company as ever continues to produce very fine catalogues and sales, concentrating mostly on rare books and manuscripts. Frequently, fine Judaica is tucked in at the end of their auctions. At Kestenbaum’s September 10th auction, the report was somewhat optimistic, as reported on their website: “Fine Judaica yielded very respectable results considering the sluggish state of the economy. Of the 321 lots offered, 90% sold, thereby affirming that Judaica remains a very active market of committed collectors. Nonetheless, clients were somewhat conservative with their bidding practices, thus reflecting differing prices relative to previous auctions.” Their next sale will be December 10th, being the 4th of 2009. At J. Greenstein and Company, also in New York, their last sale was in June 2009. But the next will be January 11, 2010 with about 150 lots. For the past few years, Jonathan Greenstein has been holding spring and fall sales. This year Sotheby’s Fine Judaica Sale is early this year – on November 24, in the morning.
What does this have to do with the appraiser? Well, when appraising Judaica, I’ve had to get acquainted with the new venues and learn the different trends. Finding value in Judaica is now not a simple matter of finding comps at season intervals. One also has to talk directly with those involved in the market place, view the offerings each month and study the results. Beyond that a lot of serious collectors are actual traveling to important sales and discussing amongst themselves the characteristics and strengths of certain objects. At Skinner’s May preview in Boston, for instance, there was a lively discussion among many collectors who came from all parts of the world and the bidding was serious on the following day with record sales.
And so, a “comp” in 2009 might very well be trumped for one just a few months later. In writing Judaica appraisals, I’ve got more on the table to consider than I have had in previous years.
Next blog: there are many new areas of Judaica collecting. I’ll report in on what I am seeing in private collections and objects that are new to Judaica auctions.
Elizabeth,
Visit my site at
www.judaicaincontext.com
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The Green Baron Said,
Interesting material. Apparently old Judaica is of very high value and interest in many circles and among collectors. It also may be that some folks are selling their items because of the currently unfavorable economic situation. Keep up the good work!
Posted on October 26, 2009 at 4:40 PM
Anonymous Said,
Nice job, Elizabeth!
The sell-through rate is very strong in quality Judaica, especially considering other markets.
I need to get my hands on that May auction at Skinner's. I hope it is still available.
I look forward to your insights on Kedem's new areas of collecting.
Maureen
Posted on October 27, 2009 at 5:05 PM