Auction House in Los Angeles
Unlike in 2008-2010, the market for fine art, furniture, collectibles, and jewelry has not fallen off the precipice. Surprisingly, the market has been as strong if not stronger than this time last year. Logically, this does not make much sense as major corporations were laying off staff, small- & mid-size businesses were closing down, and there was a general sense of economic dread.
CARL CLEMENS MORITZ RUNGIUS: “ALARMED (BIG HORN ROCKY SHEEP) | SOLD JUNE 2020 $372,000
The auction market for tangible personal property was unsettling at the end of March through April and into May as the uncertainty of the economy had buyers holding their cash. However, the market did not crash but, instead, maintained a status quo, and as the summer months began, people began to buy: Why? Because the majority of Americans were working from home, many started to look around the room in which they were working and realizing that it was time to make some changes: a new painting to brighten up the room, a more comfortable chair, a real desk rather than working off of the dining table. Buyers had cash burning a hole in their pocket: going out for meals stopped or was significantly limited; although budgeted, the family vacations were put on hold; and the stock market was increasing still (especially in tech). In addition, many clients had planned or started interior design projects but had less options where to acquire property except to purchase from local sources or through the auction market. Often, dealers would travel to Europe and across America annually to acquire interesting and unique items for their clients. With travel halted or limited, many in the trade found alternative outlets in which to find property.
18 KARAT WHITE GOLD, FANCY GREY-BLUE, & PINK DIAMOND RING | SOLD JUNE 2020 $300,000
As a personal property appraiser, my business has never been busier. The beginning of the COVID shutdown brought a few alternative date-of-death appraisals as attorneys and CPAs were making adjustments for real property and client portfolios. Although a small part of the overall estate tax filing, the change in value for the personal property was minimal, and, in some cases, increased. With the trust companies and banks back to working after a shutdown in the second quarter, everyone is catching up as the IRS has not allowed any extensions in filing for the 706.
With the uncertainty of the elections over yet a potential “second wave” of COVID cases coming this winter, the market for tangible personal property is uncertain. However, if we are forced back into working from home and have some economic stimulus, I believe that the market for TPP will stay strong in 2021.
ANDY WARHOL (1928 – 1987): “FIPS, MOUSE” (FROM THE TOY SERIES) | SOLD OCTOBER 2020 $90,625
Abell Auction Co. is proud to present an impressive collection of antique Spanish, Italian, and English furniture and furnishings in a single-owner auction. The sale will take place on Thursday, August 13th, 2020 at 10 a.m. PDT and features hundreds of lots of fine art, antique furniture, Asian art, antiquities, Persian carpets, and much more.
Abell Auction Co. is honored to be representing the estate of famed actress, director, and producer Penny Marshall. Continue reading
Abell Auction Company is proud to be representing the estate of 20th century TV personality Bill Cullen at the September 27, 2018 weekly auction. Continue reading
Abell Auction Company will be offering three Andre Hambourg paintings in the upcoming fall 2018 Quarterly Fine Art Sale. The paintings are characteristic of Hambourg’s style, depicting Impressionist beach and boat scenes with his recognizable soft, pastel palette. The three signed oil on canvas painting all hail from a Santa Barbara estate, with Wally Findley gallery labels on the verso. Stay tuned for more information on the upcoming sale through Abell’s Facebook and Instagram sites.
Hambourg, 1909-1999, was a French post-Impressionist artist known for landscape and seascape paintings. He studied at the Ecole Nationale Superieure des Arts Decoratifs and the Ecole Nationale des Beaux-Arts, and was a dedicated painter by the age of 18. In the 1930s Hambourg worked in studios in the Montparnasse neighborhood of Paris, which exposed him to other modern artists of his day. By 1931, he was a member of many prominent Parisian art salons.
ANDRE HAMBOURG: “BEACH SCENE”
Hambourg spent the later part of the 1930s serving in Africa in the French-Algerian war, then worked as a war correspondent during World War II. In 1952, Hambourg became the official painter of the French Navy, which took him on numerous international sea voyages. On these travels Hambourg made many preparatory drawings and sketches for future paintings; these trips had a lasting impact on Hambourg’s art.
ANDRE HAMBOURG: “SAILBOAT SCENE”
Stay tuned for more information on the upcoming sale and the catalog through Abell’s Facebook and Instagram sites.
It is with great sadness that we announce the passing of Ruth Weinberg, a loyal and cherished employee of Abell Auction Co. for more than 75 years. Continue reading
Items from estate of former professional football player to be featured in Abell’s upcoming fine art sale. Mr. Mitchell was the 6th oldest living former professional football player at the time of his passing.
