There are signs that the top end of the American furniture market remain strong despite the financial crisis and lack of interest within the middle markets. At Sotheby's recent Americana sale a Philadelphia walnut compass shaped stool, circa 1750 with an estimate of $200,000/$500,000 sold for $5,234,000.00 including buyers premium. Maine Antique Digest reports the winning bidder was Albert Sack. Maine Antique Digest saw this as important news and sent out an email alert and a fellow appraiser received a Kovels update which also included the sale of the stool. Kovels reports the price was a record for seating furniture at auction.From an appraisal perspective, does the cost equal value? Something to think about. If you see other similar examples of interesting sales or appraisal related information, please send to me for posting on the AW Blog.
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