For the week ending Saturday March 24^th 12 auctions were archived; 4 in US dollars, 2 in British pounds, and 6 in Euros.  Five thousand four hundred and forty-six lots were offered and 3,783 sold for a 69.5% success.  The total of the low estimates of the lots that sold was $1,700,683 and their high estimates $2,274,384 or $601 on average.  As a group they brought $2,816,277 or $744 each.  The 31.5% of the lots that failed to sell, 1,663 items, had high estimates that totaled $1,074,080 or $646, a very marginal difference from those that sold.  This suggests bidders are choosing carefully.  Total sales were 84% of the aggregate high estimate of all lots offered.

Where bidders saw things they wanted they paid up.

Four sales reached or exceeded 100% of their aggregate high estimates:

Kapandji Morhange.  Books, Stamps, Autographs, Documents from Mathieu Varille’s Library on March 15^th:  128%;

The Romantic Agony Book and Print Auctions.  Books on March 16^th:  112%;

Kapandji Morhange.  Books, Stamps, Autographs, Documents from Mathieu Varille’s Library on March 16^th:  109%;

Christie’s.  Books on March 21^st:  107%.

For the week ahead 20 sales are scheduled:

Tuesday Mar 27^th Bloomsbury Auctions.  Books, Autographs and Prints [Roma 7]

                                    Bonhams.  Fine Books, Maps and Manuscripts [20135]

                                    Bruun Rasmussen.  Prints.  [1213]

                                    Piasa.  Manuscripts [18959]

Wed March 28^th        Bruun Rasmussen.  Prints [1213] continued

                                    Christie’s.  Old Masters, Modern and Contemporary Prints [5088]

                                    Sotheby’s.  Modern Illustrated Books from the Library of R. + B.L. [PF1223]

Thurs March 29^th      Bloomsbury Auctions.  Modern and Contemporary Prints [35886]

                                    Bolaffi S. p. A.  Autographs and Books [32912]

                                    Keys Fine Arts.  Books [032912]

                                    Pacific Book Galleries (PBA).  Americana – Travel and Exploration – Cartography [476]

                                    Sotheby’s.  Old Master, Modern and Contemporary Prints [L12160]

Friday March 30^th     Bonhams.  Polar Sale. [19552]

                                    Eldred’s.  Americana [749]

                                    Key’s Fine Arts.  Books [032912]

Sat March 31^st           Artcurial Briest-Le Fur-Poulain-F. Tajan.  Comic Strips [18102]

                                    Eldred’s.  Americana [749]

                                    Galerie Koller Auctions.  Books. [A160]

                                    Heritage Auctions [HA.com]  Music and Entertainment Memorabilia – online [Bidstart 3/11] [7053]

Sun April 1^st               Coutau-Begarie.  Antiquarian Books.  [40112]

By the end of April we will have a clear sense of the year.  Consignors have been cautious.  On April 10^th one of the best minds in the field, Kenneth Nebenzahl, sends his best material into the rooms at Christie’s in New York for what is expected to be the most important sale of the year.  The reserves are anticipated to be modest, a sign of Mr. Nebenzahl’s belief that the market can be trusted to set proper valuations.

Bruce McKinney

AE
March 25th, 2012