Overall, the property was of high quality and our buyers showed strong interest. The market trend and fresh merchandise aided in our success,
Alameda, CA (PRWEB) September 20, 2011
Auction houses the world over have been experiencing success with Asian items as prices have been steadily rising over the past year. But much of the sales success should also be attributed to the Asian Department itself. Heading the department is Ling Shang who expertly executed the sale, breaking the previous record she set late last year at Michaan’s. “Overall, the property was of high quality and our buyers showed strong interest. The market trend and fresh merchandise aided in our success,” Shang reflected.
Contributing to the total were numerous lots selling for monumental prices, astonishing virtually all that were in attendance. With a packed auction room floor and a dozen employees fielding domestic and international phone bids, awe-inspiring numbers were seen throughout the afternoon.
Bringing in the highest total selling price of the day was lot 8349, a pair of carved huanghuali and mixed wood horseshoe chairs. Bidders of all types vied for the lot with a floor bidder eventually winning amongst a round of applause. Going for over 17 times the high estimate of $18,000, the pair of intricately carved chairs hammered for an amazing $362,700. Shang noted, “Huanghuali has always been sought after. It has become obvious that this type of furniture has become increasingly rare in the market. This is what peaked interest in the item. I believe sales such as these build confidence in our buyers and sellers, both international and domestic.”
Michaan's Auctions is one of San Francisco Bay Area's leading full service auction houses located in the Bay Area. Offering free art appraisal, antique appraisal, estate auctions and specializing in the sale of art and antiques and other fine collectibles. Michaan's has Antique Specialists in American and European Furniture and Decorative Arts, Vintage and Estate Jewelry, European and American Works on Paper, Fine Asian Works of Art and more.
Michaan's Auctions offers Free Appraisal Events every Wednesday from 10am - 1pm. Find out if you are sitting on a treasure!
2751 Todd Street
Alameda, CA 94501