Latest news with #Bonhams
Yahoo
20 hours ago
- Business
- Yahoo
The incredible ceramics collection with a very surprising owner
Among the students of Oxford University, Sylvanus Sydney Denton was a name to be conjured with. For many years, he made his money selling bicycles to students, while simultaneously developing a passion for modern and contemporary ceramic art. He amassed a collection of over 220 examples which he kept in a specially built kitchen extension. Denton died last year at the age of 90 and his collection has gone on view at Sotheby's this week prior to being sold at the end of the month. It is estimated to fetch as much as £1.7 million. It is not known exactly when Denton caught the ceramic bug, but it was probably not until his late forties. Having done his National Service in Kenya he found work back home in Oxford fixing bikes and refurbishing caravans before investing in a bike and toy shop. By 1982 he had four shops and was displaying his ingenuity buying vintage 19th century bikes on which he posed for the local press. Sotheby's believes his journey to ceramics began with Modern British art (Henry Moore, LS Lowry and Barbara Hepworth) before he discovered more affordable ceramics by the likes of 1930s refugees from Nazi Germany, Hans Coper and Lucy Rie whose pots were beginning to be seen as fine art and superior to craft. According to the sale catalogue, one of Denton's earliest acquisitions was a work by Coper which he bought in 1988 at the trailblazing Oxford Gallery, which presented contemporary ceramics with avant-garde modern art by the likes of Terry Frost and Patrick Heron. Two works he bought there in the 1990s were by Edmund de Waal, the ceramicist and author of The Hare with Amber Eyes, long before he was swept up by the upmarket Gagosian contemporary art gallery. Denton also shopped at auction and in 1997 bought a Black Cycladic Form Arrow pot by Coper at Bonhams for about £9,000. To give an idea how Coper's prices have moved, another Cycladic Form Arrow pot bought by a different collector in the 1970s for £250 sold in 2018 for £381,000. Denton's example at Sotheby's is a comparatively tame £100,000 (check). Sotheby's describes Denton's collection as 'one of the finest collections of studio and contemporary ceramics in private hands'. Apart from Coper there are several delicate works by Rie in the £25,000-50,000 range, and a standout work by Elizabeth Fritsch, who is currently enjoying a high-profile exhibition at The Hepworth Wakefield museum near Leeds. Denton bought Fritsch's 20-inch, vividly coloured 'Spout' Pot (1998) for a double estimate record £10,160 at Bonhams in 2004, since when her record has risen to £51,400 last year. The estimate for Spout Pot has now doubled to £12,000-18,000. Another auction buy was a playfully twisted 'Monumental Body Pot', by Joanna Constantinidis which Denton bought for a record £1,600 at Bonhams in 2002, two years after she died. Posthumously, her prices have crept up to £15,000 for another Body Pot in 2021 so Denton's example, now estimated at £4,000-£6,000 should make more. His favoured method of acquisition, however, was to buy directly from the artists themselves; he was very popular with potters. One was Dame Magdalene Odundo, the British Nigerian who was the subject of an impressive exhibition at The Hepworth Wakefield in 2019. Three burnished terracotta pots by her in the sale all date from 1990/91, before she was famous. There is no record of their cost, but by this point art dealers were charging £5,000, compared to £250 in the 1970s. Since then, her prices have been multiplying. At auction in around 2010 they were selling for £10,000-£15,000, but after The Hepworth Wakefield show was announced and she was signed up by leading contemporary art dealer Thomas Dane, wealthy collectors like fashion designer Jonathan Anderson (who has been announced as the new head designer at Dior) began buying her work and at auction they soared to a record £533,400 for one of her pots in 2023. The estimate on that work was £100,000, a record for Odundo at the time. Now Sotheby's has gone a step further with two from Denton's collection estimated at £150,000 each. This is, though, a collection of value extremes. While most of the value is concentrated in just a handful of artists, the majority of lots are estimated at under £3,000 each, some with no reserve minimum price. Other artists include Janet and David Leach, the wife and son of the influential potter Bernard Leach, and Richard Batterham, a student of Leach who died in 2021 the same year that a pair of his pots hit a record £20,000 at auction. So, for fledgling ceramic collectors it's time to get on your bikes and bid. The sanctions that were imposed on Russian businesses after Putin's invasion of Ukraine in 2022 put an end to the regular art sales, worth millions of pounds, which London used to stage mainly for the benefit of Russian buyers. Russian art auctions in London went from being worth over £100 million a year to nothing. But last year, Sotheby's held a sale – unnoticed by the press – entitled Fabergé, Imperial & Revolutionary Works of Art, which included Russian paintings, and it exceeded its £2.9 million estimate to make £3.9 million. And this November they are planning a repeat. So what is going on? According to analysis conducted by advisory group Overstone Art Services, Russian art continues to appear, but in different sale categories – from Old Master and 19th century to Modern. Russian art can be bought and sold, so long as the client is not a Russian passport holder or on a sanctions list. This April, for instance, Sotheby's included two paintings by the 19th century artist Richard Zommer, who worked in Central Asia and would previously have been sold in a Russian art sale, in its sale of Orientalist art together with a variety of European artists. One of his paintings, a depiction of a chaikhana (or meeting place for travellers) on the Silk Road, was estimated at £20,000 and sold for a record £114,300. Trade sources believe the Russian art market is buoyant within Russia, better than property, and that Russian buyers are still active in the West but operate under a dual nationality, as Ukrainian, say, or Belarusian. In a statement released to the Telegraph last week, Sotheby's said: 'Today there is a significant diaspora of Russians who collect. As ever, we have worked to ensure that we are complying with sanctions and other restrictions placed on Russian clients and property of Russian origin. Where appropriate, we have also been offering Russian paintings in international sales across various selling locations. While the international auction market for Russian art remains significantly smaller than it was, we have seen areas of positive momentum.' The statement echoes Overstone's observation that while sale totals are down, average hammer prices for Russian artists have increased, indicating that 'growth is already beginning to occur. If this trend continues, it seems likely that the accessibility of the Russian paintings market will increase, thus allowing for the market to grow again when the situation is more settled.' Broaden your horizons with award-winning British journalism. 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Forbes
a day ago
- Business
- Forbes
Museum Quality Boucheron ‘Juno' Pendant Could Fetch $300,000
A fancy light blue diamond ring with an estimate of $2 million - $3 million A 14.52-carat fancy light-blue diamond is the top lot at Bonhams New York Jewels auction on June 12. The heart-shaped diamond is mounted on a ring within a surround of round brilliant-cut diamonds and diamonds with a pink tint. Its estimate is $2 million to $3 million. A spinel. emerald, diamond and cultured pearl pendant, estimate of $300,000 - $500,000 The number two lot of the sale is an unsigned multi-gem 18k white gold pendant featuring a 50.63-carat unheated Sri Lankan rectangular-cut spinel within a frame of round brilliant, baguette and tapered baguette-cut diamonds. Suspended from the centerpiece is two round pearls and a 7.8-carat briolette-cut emerald and more diamonds. Its estimate is $300,000 - $500,000. The upcoming 126-lot auction at Bonhams Madison Avenue saleroom features several fancy-colored diamonds, a collection of emeralds, sapphires and rubies, and signed pieces from prestigious jewelry houses including Bulgari, Cartier, David Webb, Graff, Harry Winston, JAR, Oscar Heyman, Taffin, Tiffany & Co., Van Cleef & Arpels, and Verdura. Important pieces from French jewelers Boucheron and René Boivin play a significant role in the sale. Boucheron Art Nouveau enamel, sapphire and diamond 'Juno' pendant, circa 1900. Estimate is $200,000 ... More - $300,000 FEATURED | Frase ByForbes™ Unscramble The Anagram To Reveal The Phrase Pinpoint By Linkedin Guess The Category Queens By Linkedin Crown Each Region Crossclimb By Linkedin Unlock A Trivia Ladder For example, there's a Boucheron Art Nouveau enamel, sapphire and diamond pendant, circa 1900, with a design that features a female form of carved white jadeite depicting the goddess Juno, the queen of the gods, goddess of marriage, and protector of women and the family. Her hair is of textured gold and crowned with blue, green and purple enamel, accented by old European-cut diamonds and gold beads. Her dress of purple enamel is set with a cushion-shaped yellow sapphire framed by old European-cut diamonds. Ornate peacocks with blue, green and purple enamel with diamond accents are flanked on either side of the Juno figure. Green and blue enamel peacock feathers support a detachable pendant set with a pear-shaped yellow sapphire framed by old mine-cut diamonds. The pendant is signed FIC Boucheron for Frédéric Boucheron, Paris, the founder of the famed Place Vendôme jeweler and has an estimated sapphire weight of 20.30 carats. This rare pendant which was exhibited at the 1900 Paris World's Fair has an estimate of $200,000 - $300,000. Caroline Morrissey, Bonhams director and head of Jewelry, New York, said the Boucheron pendant 'epitomizes the Art Nouveau movement with its flowing, organic lines inspired by nature. The elaborate enamelwork and unique gemstone settings underscore the craftsmanship and artistry, creating a sense of fantasy and romance. It is a rarity for a museum quality jewel like this to come to market.' René Boivin colored diamond and diamond brooch, circa 1937. Its estimate is $150,000 - $200,000 Another sale highlight is a René Boivin colored diamond and diamond orchid brooch, circa 1937. Designed as an orchid, the petals are set throughout with round brilliant and old European-cut diamonds, further enhanced by round brilliant, old European and single-cut diamonds of a yellow tint. The brooch has an estimated total diamond weight of 20 to 25 carats and estimated total colored diamond weight of 15.30 carats. Its estimate is $150,000 - $200,000. Other New York Jewels highlights include: A Fancy yellow diamond and diamond ring with an estimate of $170,000 - $270,000 A diamond ring, centering a 16.76-carat cushion-shaped fancy yellow diamond of VS1 clarity, flanked by two bullet-shaped diamonds. Its estimate is $170,000 - $270,000. Taffin diamond earclips with an estimate of $160,000 - $240,000 A pair of Taffin diamond earclips. Each centered with a square emerald-cut diamond, one weighing 5.16 carats and the other weighing 5.04 carats. Its estimate is $160,000 - $240,000.
Yahoo
4 days ago
- Business
- Yahoo
Exodus of ultra-wealthy from UK triggers fine wine boom in Dubai
An exodus of wealthy Britons to the Middle East has triggered a boom in Dubai's fine wine market, Bonhams has said. The United Arab Emirates (UAE) has benefited from a rapid influx of rich Westerners in recent years, bringing with them their demand for expensive drinks – despite tight rules on consuming alcohol in the region. Amayès Aouli, head of wine and spirits at Bonhams, said: 'Dubai and the wider Middle East are rapidly becoming important players in the global fine wine ecosystem – not simply in terms of bulk consumption, but as centres for high-value storage, investment, and private collecting.' Soaring taxes have been blamed for accelerating an exodus of the ultra-rich from Britain, as well as Rachel Reeves's recent clampdown on non-dom residents that stripped thousands of UK residents of tax benefits. Among those to have left are the billionaire property investor brothers Ian and Richard Livingstone, who moved their official residence to Monaco, and Goldman Sachs banker Richard Gnodde, who relocated to Milan. The billionaire media mogul Richard Desmond, meanwhile, secured a 'golden visa' for Dubai last year. The Adam Smith Institute has suggested Ms Reeves's crackdown could cost Britain upwards of £10bn per year as the decline of billionaires drags on the Treasury's revenues. The UK was expected to lose almost 10,000 millionaires in 2024, while the UAE was expected to gain almost 7,000, according to the private wealth firm Henley & Partners. Inquiries about moving abroad from the UK jumped by 183pc in the first three months of 2025, the firm has also estimated. Dubai, conversely, has become increasingly appealing to the wealthy because it does not charge income tax. Mr Aouli added: 'This influx brings with it an appetite for global luxury, including fine wine, whether for personal enjoyment, entertaining, hospitality or long-term investment.' Sales of alcohol in Dubai, Abu Dhabi and Oman have nearly doubled in value since the pandemic and are on course to reach more than $1bn (£742m) in 2025, according to industry experts at IWSR. The UAE is also a hub for duty-free sales of wine and spirits, which were just shy of $600m (£446m) last year. Cru Wines, a London-headquartered fine wine and spirits firm, recently opened an outpost in Dubai to cater to its expat community. Gregory Swartberg, the company's chief executive, said: 'Huge numbers have come over and they obviously want to get together to drink nice wines. It's a lot of non-doms, who obviously do not qualify [for some UK tax benefits] any more.' The company does not retail wines direct to customers in the UAE, but works with clients to manage their collections and source wines for them. Only two companies are officially allowed to distribute alcohol. Alcohol consumption is legal in the UAE, which is governed under Sharia law, but is heavily regulated. Non-Muslim residents over the age of 21 are allowed to drink in their homes, but they have to apply for a licence to be able to do so. Alcohol can be sold in licensed restaurants, bars and hotels – but drinking in public is strictly prohibited and can result in severe fines and even imprisonment. Mr Aouli said: 'Licensing procedures, restrictions on marketing, and cultural sensitivities mean that success here requires patience, local relationships, and absolute regulatory compliance.' However, while demand is growing, Dubai this year reimposed a 30pc import tariff on alcohol that had previously been suspended for two years – raising the prospect of higher prices for consumers. Mr Swartberg said: 'I think people from London are a little bit annoyed at the prices of wines in restaurants here. That's definitely a strong negative.' Last week, officials in Saudi Arabia were forced to deny that the Kingdom was planning to lift a 73-year ban on sales of alcohol, after reports emerged suggesting that it would do so to boost tourism ahead of the 2034 World Cup. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Exodus of ultra-wealthy from UK triggers fine wine boom in Dubai
An exodus of wealthy Britons to the Middle East has triggered a boom in Dubai's fine wine market, Bonhams has said. The United Arab Emirates (UAE) has benefited from a rapid influx of rich Westerners in recent years, bringing with them their demand for expensive drinks – despite tight rules on consuming alcohol in the region. Amayès Aouli, head of wine and spirits at Bonhams, said: 'Dubai and the wider Middle East are rapidly becoming important players in the global fine wine ecosystem – not simply in terms of bulk consumption, but as centres for high-value storage, investment, and private collecting.' Soaring taxes have been blamed for accelerating an exodus of the ultra-rich from Britain, as well as Rachel Reeves's recent clampdown on non-dom residents that stripped thousands of UK residents of tax benefits. Among those to have left are the billionaire property investor brothers Ian and Richard Livingstone, who moved their official residence to Monaco, and Goldman Sachs banker Richard Gnodde, who relocated to Milan. The billionaire media mogul Richard Desmond, meanwhile, secured a 'golden visa' for Dubai last year. The Adam Smith Institute has suggested Ms Reeves's crackdown could cost Britain upwards of £10bn per year as the decline of billionaires drags on the Treasury's revenues. The UK was expected to lose almost 10,000 millionaires in 2024, while the UAE was expected to gain almost 7,000, according to the private wealth firm Henley & Partners. Inquiries about moving abroad from the UK jumped by 183pc in the first three months of 2025, the firm has also estimated. Dubai, conversely, has become increasingly appealing to the wealthy because it does not charge income tax. Mr Aouli added: 'This influx brings with it an appetite for global luxury, including fine wine, whether for personal enjoyment, entertaining, hospitality or long-term investment.' Sales of alcohol in Dubai, Abu Dhabi and Oman have nearly doubled in value since the pandemic and are on course to reach more than $1bn (£742m) in 2025, according to industry experts at IWSR. The UAE is also a hub for duty-free sales of wine and spirits, which were just shy of $600m (£446m) last year. Cru Wines, a London-headquartered fine wine and spirits firm, recently opened an outpost in Dubai to cater to its expat community. Gregory Swartberg, the company's chief executive, said: 'Huge numbers have come over and they obviously want to get together to drink nice wines. It's a lot of non-doms, who obviously do not qualify [for some UK tax benefits] any more.' The company does not retail wines direct to customers in the UAE, but works with clients to manage their collections and source wines for them. Only two companies are officially allowed to distribute alcohol. Alcohol consumption is legal in the UAE, which is governed under Sharia law, but is heavily regulated. Non-Muslim residents over the age of 21 are allowed to drink in their homes, but they have to apply for a licence to be able to do so. Alcohol can be sold in licensed restaurants, bars and hotels – but drinking in public is strictly prohibited and can result in severe fines and even imprisonment. Mr Aouli said: 'Licensing procedures, restrictions on marketing, and cultural sensitivities mean that success here requires patience, local relationships, and absolute regulatory compliance.' However, while demand is growing, Dubai this year reimposed a 30pc import tariff on alcohol that had previously been suspended for two years – raising the prospect of higher prices for consumers. Mr Swartberg said: 'I think people from London are a little bit annoyed at the prices of wines in restaurants here. That's definitely a strong negative.' Last week, officials in Saudi Arabia were forced to deny that the Kingdom was planning to lift a 73-year ban on sales of alcohol, after reports emerged suggesting that it would do so to boost tourism ahead of the 2034 World Cup.
Telegraph
4 days ago
- Business
- Telegraph
Exodus of ultra-wealthy from UK triggers fine wine boom in Dubai
An exodus of wealthy Britons to the Middle East has triggered a boom in Dubai's fine wine market, Bonhams has said. The United Arab Emirates (UAE) has benefited from a rapid influx of rich Westerners in recent years, bringing with them their demand for expensive drinks – despite tight rules on consuming alcohol in the region. Amayès Aouli, head of wine and spirits at Bonhams, said: 'Dubai and the wider Middle East are rapidly becoming important players in the global fine wine ecosystem – not simply in terms of bulk consumption, but as centres for high-value storage, investment, and private collecting.' Soaring taxes have been blamed for accelerating an exodus of the ultra-rich from Britain, as well as Rachel Reeves's recent clampdown on non-dom residents that stripped thousands of UK residents of tax benefits. Among those to have left are the billionaire property investor brothers Ian and Richard Livingstone, who moved their official residence to Monaco, and Goldman Sachs banker Richard Gnodde, who relocated to Milan. The billionaire media mogul Richard Desmond, meanwhile, secured a 'golden visa' for Dubai last year. The Adam Smith Institute has suggested Ms Reeves's crackdown could cost Britain upwards of £10bn per year as the decline of billionaires drags on the Treasury's revenues. The UK was expected to lose almost 10,000 millionaires in 2024, while the UAE was expected to gain almost 7,000, according to the private wealth firm Henley & Partners. Inquiries about moving abroad from the UK jumped by 183pc in the first three months of 2025, the firm has also estimated. Dubai, conversely, has become increasingly appealing to the wealthy because it does not charge income tax. Mr Aouli added: 'This influx brings with it an appetite for global luxury, including fine wine, whether for personal enjoyment, entertaining, hospitality or long-term investment.' Alcohol sales to reach $1bn Sales of alcohol in Dubai, Abu Dhabi and Oman have nearly doubled in value since the pandemic and are on course to reach more than $1bn (£742m) in 2025, according to industry experts at IWSR. The UAE is also a hub for duty-free sales of wine and spirits, which were just shy of $600m (£446m) last year. Cru Wines, a London-headquartered fine wine and spirits firm, recently opened an outpost in Dubai to cater to its expat community. Gregory Swartberg, the company's chief executive, said: 'Huge numbers have come over and they obviously want to get together to drink nice wines. It's a lot of non-doms, who obviously do not qualify [for some UK tax benefits] any more.' The company does not retail wines direct to customers in the UAE, but works with clients to manage their collections and source wines for them. Only two companies are officially allowed to distribute alcohol. Alcohol consumption is legal in the UAE, which is governed under Sharia law, but is heavily regulated. Non-Muslim residents over the age of 21 are allowed to drink in their homes, but they have to apply for a licence to be able to do so. Alcohol can be sold in licensed restaurants, bars and hotels – but drinking in public is strictly prohibited and can result in severe fines and even imprisonment. Mr Aouli said: 'Licensing procedures, restrictions on marketing, and cultural sensitivities mean that success here requires patience, local relationships, and absolute regulatory compliance.' However, while demand is growing, Dubai this year reimposed a 30pc import tariff on alcohol that had previously been suspended for two years – raising the prospect of higher prices for consumers. Mr Swartberg said: 'I think people from London are a little bit annoyed at the prices of wines in restaurants here. That's definitely a strong negative.' Last week, officials in Saudi Arabia were forced to deny that the Kingdom was planning to lift a 73-year ban on sales of alcohol, after reports emerged suggesting that it would do so to boost tourism ahead of the 2034 World Cup.
