Blog

DEC
11
2013

CELEB PROPERTY IS THE DARLING OF THE AUCTION WORLD

By judith

Oscar

December 11, 2013

It isn't unusual for estates and household objects to be sold at auction. Most auction buyers would rather buy from an estate than acquire items that have been passed from dealer to dealer and then listed at auction. But, the most popular type of personal property auction is clearly the one that sells household items from a well known individual.

Past auctions of property belonging to everyone from James Cagney to Barbra Streisand have set records for prices realized. The trend continues, based on the pre-sale estimates at the current auction of Academy Award winner Dustin Hoffman's property from his triplex apartment in New York City's San Remo apartment building.

The auction, which is being held online by Nye and Company Auctioneers and Appraisers, will end on December 17th. Among the items for sale are a late 18th century English George III Giltwood and Eglomise Mirror with a pre-sale estimate of $2,000 - $3,000, and a minimum bid of $1,000; a circa 1700 English William & Mary Oak Gate-Leg Drop-Leaf Table with a pre-sale estimate of $3,000 - $5,000 and a minimum bid of $1,500 and a late 19th century English pair of Terra Cotta Double-Sided Lions, with a pre-sale estimate of $2,000 - $3,000 and a minimum bid of $1,000. These prices do not include the 20% buyer's premium.

Considering that the majority of these items are considered bric-a-brac, these are some pretty ambitious prices. At the time of this writing, only a few have bids, and the majority of those are single bids. But, as the sale is publicized, Mr. Hoffman's fans are sure to push the prices up. If you are considering bidding, you have just seven days left to do it.

Judith Katz-Schwartz