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Decorative Arts Auctions Offer Unique Pieces, Relative Bargains

For those interested in provenance, there’s no better way to accessorize a home

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1000, a unique cabinet from designer Paul Evans that sold at auction for $382,000.

Rago
1000, a unique cabinet from designer Paul Evans that sold at auction for $382,000.
Rago

When a Basquiat painting sold at Sotheby’s this spring for $110 million, the art world went wild. With fine art prices continuing to climb, the decorative arts look like more and more of a solid proposition—just a few weeks later, a pair of late-19th-century Louis XVI-style gilt-and-patinated bronze figural torchères sold for $75,000 (from an estimate of $20,000–$25,000). The media didn’t go quite as crazy, but it hammers home the value and significance of decorative arts.

Indeed, furnishing a home is far more exciting when you expand your shopping parameters to include buying decorative arts at auction. It’s perhaps the finest and most fun way to enliven your interiors, adding beauty and a sense of history to your personal, lived-in space.

So what exactly is included in the category of "decorative arts"? The field is indeed vast. Decorative arts can encompass china and porcelain, glass and silver, pottery and ceramics, enamel and metalwork, rugs and tapestries, basketry and weaving, and all sorts and styles of furniture and useful, vernacular objects.

Where the fine arts can be seen a frivolity, the decorative arts are all about functionality—most buyers of decorative art objects plan to actually use their purchases. Luxury versus practicality aside, that line between fine and decorative arts has swerved and curved throughout the years.

"The definition has definitely changed over time," said Dennis Harrington, senior specialist of English and Continental furniture at Sotheby’s. "Until the 18th century, tapestries and silver and gold plate were valued more highly than paintings. As recently as the late 20th century, antique English and French furniture was one of the highest-selling categories for the major auctions houses after Impressionist and Old Master paintings. Before 2000, any connoisseur or self-respecting millionaire wouldn’t dream of not having historical furniture, silver and ceramics adorning their interiors."

There is real pleasure in purchasing a carefully constructed, hand-crafted item of furniture, and whether it was made three centuries ago or produced within our lifetime, the quality and narrative of an estate piece is unmatched.

Karen Keane, the CEO of Boston-based auction house Skinner, sees inherent value in these timeless objects.

"However expensive one imagines decorative arts to be, they're always a bargain if you consider the labor and intensity that went into them to begin with," she said, noting an auction’s unique stock of "everyday accoutrements that we use as human beings to live our lives… a teacup you drink tea from, or an Oriental rug that someone might have knelt in prayer on."

Provenance can be fascinating, adding to a piece’s price and historical significance. Harrington pointed out that anyone can walk into (or log in to) Sotheby’s and purchase items "with aristocratic or imperial provenance, including the former Kings of Prussia." Major sales of the last several years included the personal furnishings of celebrities like Elizabeth Taylor and David Bowie.

Getting started

A quality auction house, large or small, will research, authenticate (to the best of its experts’ ability) and address the condition of every lot for sale. Still, the auction process can be intimidating to even the most experienced art lover. Experts we polled recommend taking it slow, making sure to conduct the proper research before purchase.

Both buyers and sellers pay a commission to the house—read the fine print on fees and terms, which should be clearly stated (most houses post their "Conditions of Sale" online), and don’t be afraid to ask questions. Know that the buyer’s premium is an additional charge always paid by the buyer; it can range anywhere between 10% and 25% of the hammer price. Additional charges for storage may apply, and the buyer is responsible for pickup and delivery fees. Local taxes can add to the final number.

Dale Chihuly important chandelier

Rago

Reach out to auction specialists directly to get the most complete information on any lot you might be interested in. "Don’t be in a hurry," said David Rago, owner of Rago Auctions in New Jersey. "Do your homework. There is so much information available these days, why rush? You can track pricing trends, and get a sense of what fits both your purse and the space in your living room." (Pro tip: Make sure to measure beforehand! Auction purchases are very much non-returnable.)

Almost all major auction houses post catalogs online and allow for bidding over the phone—no need to be on site to bid, though it is always recommended to do even deeper research with the house’s experts if you don’t have the chance to view the item with your own eyes. Online-only auctions can offer up covetable items, generally at a lower price point, and from the comfort of your own home or office.

Sites like 1stdibs and eBay offer a wide array of antiques and modern collectibles from individual sellers and professional dealers around the world. And on the internet, auctions are happening continually—for example, on 1stdibs.com, a pair of ottomans designed by Frank Lloyd Wright are currently available for under $20,000, or you can bid on a Knoll petal dining table in the neighborhood of $3,000.

What’s most in demand

The market for most modern and contemporary decorative arts remains strong, while more traditional antiques are, according to Mr. Harrington, "certainly less dynamic. Although some areas like Italian pietre dure or Latin American silver remain buoyant, auction prices on the whole remain muted."

How does the market direct our disposable society back toward antiques and vintage art objects? To Mr. Rago, the biggest concern "isn't so much the pricing structure, it's whether or not the younger collectors are going to have the interest. That's where design comes in," he said. "No matter what you choose to collect, you need a chair, you need a dining table, you need a sofa."

On the bright side, Mr. Harrington reminded us that "there really never has been a better time to invest in antiques, [especially] compared to prices fetched in the contemporary market."

As for what style, era or trend to focus on, go with your instinct, advised Skinner’s Ms. Keane. Take chances and don’t be afraid to mix and match. "I encourage people to trust their eyes and what resonates with them," she said.

By buying at auction, you too can own an object that represents the trajectory of our past. As grand as that sounds, Sotheby’s Harrington made clear that the highfalutin reputation of the auction world is often unfounded. "This is not a rarefied realm open only to a minority of privileged elite," he said. "We are a business that has survived for over two centuries because we are always open to new clients regardless of their background, and we who work here are ordinary mortals who love nothing better than to share our knowledge and enthusiasm with those willing to listen and learn." Spring and fall are the high seasons for the big auction houses, so keep an eye out for upcoming major decorative arts sales happening in October in London, Hong Kong, New York and beyond.

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