The early stages of the sale gave few clues as to the general mood of bidders. Mainly jewellery and small items, some sold much as expected whilst three gold brooches performed particularly well. A large reversible gold brooch (Lot 4 ) estimated at $7000 - $9,000) fetched $16,000; an Australian 18ct gold swivel brooch (Lot 5 ) estimated at $5000 - $7000 sold for $11,000 and a two tone 18ct gold and natural pearl dress brooch (Lot 6 ) estimated at $5000 - $6000) was knocked down at $13,000. All were Vizard pieces.
But such good fortune was, with one notable exception, in limited supply thereafter.
The first big ticket item to come up, the William Edwards claret jug (Lot 25 ), failed to reach its low estimate of $80,000 and was soon followed by the Alexander Dick part flatware service (Lot 40 ) which fell shy of its $40,000 - $60,000 estimate. The next offering, the silver tea service (Lot 41 ) by the same maker, languished short of its low estimate of $80,000 and was also unsold. All three were Vizard pieces.
The profusion of mounted emu eggs, numbering around 50, gave bidders plenty of options. These varied from the simple to the more exotic – for example the ink well incorporating a “grotto scene”, (Lot 61 ) by Wendt, which was knocked down for $28,000 (estimate $30,000 - $40,000). Interestingly it had previously been sold in 2008 by Sotheby’s for $31,200 (including buyer’s premium) - overall a very similar price. Another in the form of a casket (Lot 180 ), sold close to low estimate at $18,000.
The more straightforward mounted emu eggs tended not to shine, some having replacement eggs. However as many did indeed sell, at or below low estimate, there were clearly many advantageous buying opportunities for collectors. Most of the mounted emu eggs were from the other vendors.
A similar story can be told in relation to the numerous silver mugs, beakers and goblet sized trophy cups, also mostly from the other vendors. In the main they sold unremarkably.
A small silver fluted box (Lot 108 ) raised $1,600 (estimate $1800 - $2400) as against its last appearance at Sotheby’s in 2008 where it fetched $600.
Notable sales at the higher end of the market were the Adelaide Hunt gold Cup by Steiner (Lot 100 ) which was hammered down at $130,000 (estimate $150,000 - $200,000) and went to an established Eastern Suburbs art dealer.
Mystery surrounded the buyer and future of lot 164, the Melbourne University presentation trowel set by Walsh Bros, which sold for $69,000 (estimate $80,000 - $120,000).
Perhaps the highlight of the evening was a third Vizard lot – which wasn’t even silver. Five brass aboriginal King and Queen Plates (Lot 147 ) were knocked down, after a long battle, for $46,000 against an estimate of $15,000 - $20,000. Whilst possibly of powerfully topographical interest, they were rumoured to have been secured by “mining interests” which apparently pursued a number of other lots in the sale.
The sale total, including buyers premium, was around $1.16 million with 58% sold by value and 74% by volume.
This is not out of keeping with today’s economic reality and with other auction results. If there were some disappointments with the sales at the top end, then there certainly were some attractive purchases in the mid-range”.
Looking at results over recent years and comparing the prices of items which have had previous appearances at auction, suggests an interesting proposition. If we allow for buying and selling costs, and disregard vendor over-optimism with reserves, then the market for Australian gold and silver appears, in general, to have remained relatively solid and stable in recent years.
This Vizard (“and other…”) sale appears to do nothing to contradict such a belief.
(All prices shown are hammer prices unless otherwise indicated.)