Nagel auction 664 Review

Category: Auctions

by Sarah Haberkern.

DSCI0024March 22; Nagel offered 291 rugs and textiles in their Stuttgart showroom. The auction was distinctive for it’s relatively small number of lots offered. For the first time in memory only two floors were needed for the preview. Attendance at the preview was deceptively sparse but surprisingly the auction generated positive results disproportionate to the size of the crowd.

DSCI0025Right out of the gate, the first lot climbed to an astonishing €40,000 hammer price which is quite a sum of money for a rug which was perhaps more decorative than collectible. Indeed, the first 8 lots moved quite well and segued nicely into the Broido collection. These sold quite well especially considering the wrecked state of most of the offerings. The Broido lots seemed to set a good buying tone which carried through most of the auction but not to the point of craziness demonstrated by lots 116 (€120,000 est.) and lot 117 (€70,000 est.) both of which remained unsold. Notable prices were fetched for lot 36, a small pile tent band fragment, €2,600 and lot 8, a Canakkale rug, which made

Lot 162 reached a hammerprice of 50.000 EUR

€15,000. To many in attendance perhaps the most interesting lot (162) was a rare red field ‘tree’ asmalyk that was in good pile with minor moth and sadly some urine staining. The hammer came down on this lot at the €50,000 mark.

All together the auction garnered around €430,000 hammer for a total sum of around €600.000 with commission. Not bad for 291 lots and a quite respectable achievement considering the circumstances of the present world economy.

Sarah Haberkern, Art & Antik, Stuttgart

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