Sotheby’s Impressionist auction is on May 8th, 2008. They sent me their catalogue(I got the online version last week), and I found several things I might be interested in. I called a dealer friend of mine in New York, and he arranged for me to get into their preview, party, and the auction. I plan on bidding on three pieces, none of which I’ll disclose, as I don’t want to put the price up on myself.
I went on Orbitz, booked a flight on the 5th, returning on the 12th. I booked a room at the St. Regis in Mid-Town Manhattan, and rented a car. The entire trip took about 10 minutes to book, and pay for. I figure a week in New York, spending lots of money, and visiting John in New Haven should do me some good. Returning with some art would be a plus, but this trip should be a good thing. I haven’t spent much time in NYC in the last couple of years, and it should be good. The only bummer is that I have to fly into Newark, as that’s the only non-stop from Sarasota.
I’ve been to a couple of art auctions live before, and find them to be markets similar to any other market like the MGEX, CBOT, or any other floor. However, I realize it’s impossible to get the best prices for myself, as I’m not a local there, just like one of the art dealers couldn’t go on the floor on the MGEX and get the best price on three million bushels of May wheat. The good thing about buying at an auction is that I get to pay wholesale, as I hate to pay retail. I buy most of my art retail, from galleries, and find some benefits but also some pitfalls. One of the benefits of buying from a gallery is that they do all the work and all I have to do is write a check and get the piece. The pitfall is that I have to pay retail, and as I said before, “I hate to pay retail.”
While I’m in NYC, I’ll look up some old college friends, hit some clubs, and just walk around. The weather should be pretty good, and I’m going to try to find some time to hit the track while I’m there.
This trip also works out perfectly, as my sister wants to come down and stay at my house for that week. Now, I won’t have to worry about any security issues. I like using house sitters, and my sister is perfect….she also cleans up after herself.
Now, to let John know I’m going to be up in his neck of the woods.
Jeff
Good move getting out of town to do your art auction and to connect up with old friends and with John. New York is a great city - I always love going there. I had a blast the three weeks I was there for training when I was a young broker with Bache, and more recently on trips with the family.
Good luck with the bidding and with your new spread trade. I’ve just made a few moves to put my REAP program on auto-pilot. I’ve got a crazy two weeks ahead - I have to plan my wife’s 50th birthday party for the 26th this month (a dance) - and also somehow put together a major Scouts camping trip for the weekend of May 2nd.
Cheers,
George
Comment by allocator — April 18, 2008 @ 3:53 am
I would be honored if you would let me buy you a beer or three if you get bored in the big city (fat chance). I live in Brooklyn but I like the subway.
cheers and good luck at the auction.
N
Comment by newbie — April 18, 2008 @ 10:14 pm