Date: Fri 11-Sep-1998

Publication: Ant

Author: JUDYC

Quick Words:

Eldred's

Full Text:

Asian Arts Rebound At Eldred's Auction

w/cuts

By Bob Jackman

EAST DENNIS, MASS. -- During the fourth week of August, Eldred's conducted its

23rd annual summer Asian art auction. Buyers returned in droves, contributing

to total sales of $1,143,478, a 10 percent increase over the previous year.

Sixty-two percent of lots sold.

Spring sales around the world were weakened by news of Asian economic woes.

Voicing general concern about the market, dealer Sylvia Chapman said before

Eldred's sale, "Who knows what will happen? Our own market is strong, but the

Asians are definitely not here. It will be an interesting week."

American and European dealers took advantage of the Asian absence by

purchasing more themselves. Douglas Wright of Sidney Moss, Ltd, in London

commented, "Our market is strong, and this is a fine collection. I expect to

be rather active." He was a major buyer of netsuke and tea ceremony wares.

American dealers were buying with increased aggressiveness. Philadelphia

dealer Michelle Liao offered this explanation: "Business is very good. More

people are buying Japanese and Chinese things. In the past, collectors bought,

but others just looked. There was a barrier against buying for other homes,

but now that barrier is gone. Many people who are not collecting are buying a

few Japanese and Chinese things, and using them in their homes. Also, some

decorators later become collectors."

Lou Desautels, owner of Boston Arts Antiques and Interiors, has seen a surge

of interest in the Asian arts. "It's a design issue. People are looking for

cleaner, more aesthetic lines. They have been seeing it in decorating

magazines, and this has stimulated public interest. Asian art blends with many

other decors. A few years ago we had three Oriental specialists on Charles

Street in Boston. Now there are six or eight."

Dealer Linda Salter of Belmont, Mass., saw advantage in the absence of Asian

buyers. "This market offers two opportunities. First, prices are staying

reasonable. You're not seeing soaring prices in this situation. Second, new

things are coming on the market. Some of the best pieces previously offered in

Asia are now offered here. Also, a greater range of wares are being offered.

Some of the new markets are in Himalayan mask, Chinese and Japanese

calligraphy, Nonya jewelry from China and the Philippines, and santos from the

Philippines, Goa, and Kerala."

Linda believed strong summer sales were good for the new Fifth Avenue Asian

Art Fair in New York, a 23-dealer show held in September that was intended

attract buyers attending the Asian art sales at the city's leading auction

houses.

Eldred's top lot was a 1712 landscape scroll by Wu Li (d 1718). Estimated at

$800/1,200, it sold for $10,010. Other scroll paintings, screens, and

paintings influenced by Western art sold close to estimates.

Of the Paul Jacoulet woodblock prints offered, 80 percent sold, many within

estimate. "Now is the best time in 20 years to buy Jacoulet woodblocks," said

Geoffrey Oliver, a dealer from Victor, N.Y. "Prices are a fraction of what

they used to be. There is an incredible amount of work in these. Sometimes

Jacoulet used over 300 blocks to print a single image. These are works of

great subtlety, nuance, and color harmony."

Eldred's has been the primary auction house of Jacoulet prints over the past

20 years. The woodblocks depict lifestyles and occupations of the South

Pacific and Asia, which have disappeared in the past half century. Top

dealers, for whom condition is critical, spent many hours examining each print

at length.

Simple and earthy, or highly refined, tea ceremony accoutrement are now highly

collectible. At Eldred's, bidders had their choice of material in a collection

amassed by Dallas collector R.B. Caldwell.

"R.B. offered the collection to a couple international auction houses which

suggested making large lots with estimates above their $5,000 minimums," said

Eldred's Asian arts specialist, John Schofield. "I spent four hours examining

the collection and discussing it on an aesthetic basis. I took the time to

catalogue every item individually, and most lots were illustrated. They

averaged around $700 a piece. I just talked to RB on the phone. He told me I

deserved an A+."

The most active European buyer was Douglas Wright of Sydney Moss, Ltd, London.

At age 14, Wright joined his uncle in business and later attended the School

of Oriental Studies. He managed his own London firm from 1957 to 1981. Since

1989, he has been with Sydney Moss. Although he handles all Asian art except

prints, his peers referred to him as "one of the leading authorities on

netsuke."

Wright offered the following observations: "English dealers have to increase

going overseas to find inventory. The Value Added Tax on imported art has been

a disadvantage for our auction houses. Consignors do not want to lose that

share of their money so they send their things to auction elsewhere. A third

of the market has gone to New York now. If they raise the tax, we will lose

again. Many of the major collectors are now in America. The major English

collectors tend to be more restrained."