20/09/2001

Sotheby’s held the first sale at its new Olympia premises in south west London on the 18th of September with a 600-lot sale. Despite a few strong prices, such as $ 51,630 (€ 55,720) for Abraham Solomon’s painting - The Lost Found - the majority of sold works made small money. An early indication of the modest ambitions of Sotheby’s Olympia came with the publication of a small auction catalogue “handbook” with thumbnail images. This is a world away from Sotheby’s traditional glossy catalogues with full page illustrations and copious explanatory texts. Henry Ryland’s Classical Maiden, more than doubled its pre-sale low estimate to sell for $ 15,660 (€ 16,900) and Marcus Stone’s Portrait Of A Young Girl in Profile went for $ 11,180 (€ 12,070) against its pre-sale low estimate of $ 5,860 (€ 6,320). Paul Sumner, Managing Director of Sotheby’s, Olympia said: “We were delighted that Sotheby’s inaugural sale at Olympia was well received and that we have started on such a strong footing. We were pleased that the market proved resilient despite the tragic events in the U.S.” (Andrew Moore)