PRESS RELEASE 06/24/2006

Stamford Auction tops $1 Million on May 7th.

Stamford Auction started the summer season on a high note May 7th. Over 1000 items hit the block in a sale that grossed over 1 million dollars. The property included a group items being offered for sale in connection with the execution of a money judgment entered in the US District Court, and a selection of artwork from the Estate of Alexander Raydon. Over 400 bidders from around the globe registered for the sale and 1,273 absentee and telephone bids were executed.

The sale started with over 200 lots of fine jewelry. Highlights included a ribbon form platinum brooch with over 9 carats of diamonds that sold for $9,975, a Patek Philippe diamond pocket watch which realized $6,325 and a 24K wheat link necklace which sold for $5,750.

A Faberge Russian silver twin handled tray doubled estimate selling for $16,100, but it was a Pair of Louis XVI Styled dore wall sconces that proved to be the surprise of the day. The sconces were originally estimated at $3,000-$5,000 and all eyes were on the successful floor bidder when the hammer fell at $32,000 (realized price $36,800).

Fine furniture was also a strong category. A pair of satinwood George III Card Tables with rosewood crossbanding and floral decoration realized $23,000 and an elaborately carved, gessoed, gilt and paint decorated George III bookcase cabinet painted with Pompeiian revival motifs achieved $33,350. A Herman David Saloman Corrodi oil on canvas depicting a Mediterranean coastal scene sold for $17,250 and a George Elmer Browne portrait fetched $12,650.

For the second time in five weeks an oriental carpet surpassed the $50,000 mark. At Stamford Auction's Spring Estate sale on April 2nd a peach and blue Sultanabad carpet sold for $51,750 to a West coast dealer and at the May 7th auction a fine Persian Carpet sold to a dealer for $52,900.

Internet bidders continued to be strong despite a 5% buyer’s premium disadvantage. A Chinese Yongzheng style imperial yellow glazed porcelain dish moulded as a lotus flower surprised the crowds, selling for $36,750 to an eBay live bidder, the second highest price Stamford Auction has achieved for an internet sale (a pair of Qing Dynasty screens sold to an eBay bidder on January 23rd for $40,800).

At least one bidder left happy when a Hermes Kelly bag in brown Alligator, sold to a Palm Beach decorator for $9,775. After a feisty bidding war the successful bidder let out a yelp and literally jumped out of his chair to take a bow as the audience cheered.

Complete auction results and a fully illustrated catalog can be viewed online at www.stamfordauction.com. Stamford Auction holds bi-weekly Tuesday night auctions and is now accepting quality consignments. For more information call (203) 327-2227.


*Prices realized include a 15% buyer’s premium, except for the Chinese porcelain dish which sold with a 22.5% premium.