Bonhams Raise 1.85 Million In A Disapppointing Sale
Lots Offered: 145
Lots Sold: 91 or about 65%
Total Colleted with Premiums: 1.85million pounds
Top lots proved to be Moralis and Nicos Lytras with two hundred thousand plus for the first one and 120,000 for the second one.
Bonhams selected to have punchy estimates at the wrong time for their Greek sale. Among their top lots Ioannis Poulakas, Ghika, Bouzianis, Engonopoulos and Diamantopoulos failed to find buyers. Works by Tsingos, Pantazis, Maleas and others failed to sell too.
Thus the sale might be considered a sucess for lesser popular artists such as Akrithakis who sold very well, Kessanlis and Prekas. Among the sculptors Coulentianos continues to be popular with two sculpures selling at 21,000 and 11,000 pounds.
This was another slightly disappointing sale after Sothebys one yesterday but once things straighen up in Greece, the market will look forward and upwards.
Both sales have encouraging results and signs of strong demand in certain areas and artists, especially when the estimates are reasonable and the works in question are attractive and fresh on the market.
Peter Constant
Investors should be careful with young artists such as Rinas, who failed to sparkle once again.
