Canadian Bonanza
One June 20th, Toronto-based auction house Waddingtons ran another batch of what seems to be the phased sell-off of Halvor Jaeger's extensive and sparkling collection of chess sets. German born Jaeger moved to Canada from Germany in the 90-ies, with some 4.500 chosen chess sets in the luggage, and now is slowly but surely divesting himself of what formerly was - and still is - one of the best collections of chess sets in the world.
In comparison to the December 2015 sales - where 100 sets and objects where presented and fetched throughout results under the auctioneers prognostics, this time around Jaeger only offered 20 superb sets to the punters - and the excellent results proved the correctness of a limited offer - the market for this kind of exuberance worldwide , after all, is not that large, especially in times of ivory proscription!
The absolute highlight proved to be Lot 117 - a beautifully carved ivory set representing horse-mounted orientals against also equestrian Europeans, either Erbach or Paris origins - from the 19th century or later, in a historicizing context. This set was estimated at between 20.000.- and 30.000.- CAD, and was sold for a fairly low CAD 40.800.- - approximately USD 31.360.- or Euro 28.277.- or GBP 23.421.-
The other lots were also of superb quality - we noted a polychromed figural Paris set carved in ivory, two makruk sets in ivory, a unique Indian set with very unusual figure composition (Lot 103) and a medieval chess bishop (Lot 101) . A moot question is debating whether these sets would have sold for more on the London market - the sets are physically in Canada, and what with the present ivory craze it would be difficult to transport them legally to London for auctioning. Buyers will most likely face a daunting task in retrieving these sets as well - European buyers will have to smuggle them around the customs controls, and US -buyers will have to see how to get the across the Canadian border without running afoul of customs or police controls.
In comparison to the December 2015 sales - where 100 sets and objects where presented and fetched throughout results under the auctioneers prognostics, this time around Jaeger only offered 20 superb sets to the punters - and the excellent results proved the correctness of a limited offer - the market for this kind of exuberance worldwide , after all, is not that large, especially in times of ivory proscription!
The absolute highlight proved to be Lot 117 - a beautifully carved ivory set representing horse-mounted orientals against also equestrian Europeans, either Erbach or Paris origins - from the 19th century or later, in a historicizing context. This set was estimated at between 20.000.- and 30.000.- CAD, and was sold for a fairly low CAD 40.800.- - approximately USD 31.360.- or Euro 28.277.- or GBP 23.421.-
The other lots were also of superb quality - we noted a polychromed figural Paris set carved in ivory, two makruk sets in ivory, a unique Indian set with very unusual figure composition (Lot 103) and a medieval chess bishop (Lot 101) . A moot question is debating whether these sets would have sold for more on the London market - the sets are physically in Canada, and what with the present ivory craze it would be difficult to transport them legally to London for auctioning. Buyers will most likely face a daunting task in retrieving these sets as well - European buyers will have to smuggle them around the customs controls, and US -buyers will have to see how to get the across the Canadian border without running afoul of customs or police controls.
Lot 117
Such sets, with the major pieces all horse-mounted, are very rare and usually associated with the late Renaissance/ early baroque of the 17th century. The very few surviving original sets are only found in the major Museums - for example in Schloss Ambras in Innsbruck, the Bayrisches Nationalmuseum in Munich, or the Germanisches Nationalmuseum in Nuremberg. While this is most certainly a 19th century emulation in an historicist context, the comparatively modest end price of CAD 40.800.- will mean one happy buyer is contentedly rubbing his hands....
Next stop December?
All in all, this downsized version of a Canadian bonanza - the last one in December had some incredibly low prices - I recall a Vista Alegre porcelain set for CAD 800.- ! - highlights the predicament of one chess piece connoisseur stranded in the Canadian plains. But on a wider scale, also the dilemmas of many other collectors who reaching a certain age, decide to shed the collection, and find themselves faced with a load of problems.
Several facts stand out:
- the highest estimate for lot 117 - was only topped by a margin of about 25 %,
- Lot 116 ran away, and reached 9 times the high estimate!,
- such unique sets as lots 102, 103 and 104 were sold very cheaply,
- Lot 101 also ran away - possibly because of the entry of some Museum buyers from Canada.
The highest auction result at the June 20th sale at Waddington's materialized at 301.500.- CAD for a picture by the Canadian landscape painter Philip Russell Goodwin - not well known abroad, but obviously highly appreciated in Canada - a total that dwarfs the complete result of the chess set sales!
In total, the sale of 19 chess objects topped the conservative estimates by a large margin - estimates between CAD 35.500 and 52.100 were quadrupled by a result of CAD 191.260.-
deducting the 20 % commission Waddington's levies for sales up to 50.000.- CAD - only 15 % for objects above this watermark which applies to lot 116 - the consignee will take away a net of CAD 156.238.- before sales tax and eventual logistic charges. This will certainly put some bear meat in the larder, but is it satisfactory in an overall perspective?
Several facts stand out:
- the highest estimate for lot 117 - was only topped by a margin of about 25 %,
- Lot 116 ran away, and reached 9 times the high estimate!,
- such unique sets as lots 102, 103 and 104 were sold very cheaply,
- Lot 101 also ran away - possibly because of the entry of some Museum buyers from Canada.
The highest auction result at the June 20th sale at Waddington's materialized at 301.500.- CAD for a picture by the Canadian landscape painter Philip Russell Goodwin - not well known abroad, but obviously highly appreciated in Canada - a total that dwarfs the complete result of the chess set sales!
In total, the sale of 19 chess objects topped the conservative estimates by a large margin - estimates between CAD 35.500 and 52.100 were quadrupled by a result of CAD 191.260.-
deducting the 20 % commission Waddington's levies for sales up to 50.000.- CAD - only 15 % for objects above this watermark which applies to lot 116 - the consignee will take away a net of CAD 156.238.- before sales tax and eventual logistic charges. This will certainly put some bear meat in the larder, but is it satisfactory in an overall perspective?