Top 10 auctions that set new records despite the recession

 

With the recession hitting wealthy collectors over the last year, the auction houses have faced one of their toughest seasons in years. This year, we saw auctions where great works of art did not find potential buyers. But some of the auctions really did well, despite the global recession, and set new records in their respective categories. Let’s take a look at some of the most hyped auctions that set new records despite the economic downturn.

• Ferrari Pontoon-fender Testarossa

May 2009: The iconic 1957 Ferrari 250 Testarossa set a new world record lately for the most expensive motor car ever to be sold at an auction. The car went for €9 million ($12 million) in an auction of Italian supercars organized by RM Auctions at Ferrari’s Maranello home in Italy.

• Rare blue diamond

May 2009: A flawless vivid blue diamond weighing 7.03 carats was sold for a record $9.5 million at Sotheby’s and it was the highest price paid per carat for any gemstone at auction.

• David Hockney’s “Beverly Hills Housewife”

May 2009: David Hockney’s painting “Beverly Hills Housewife” was sold for a record $7.9 million after fierce bidding at Christie’s auction house.

• Newson’s Lockheed Lounge chair

May 2009: Recently, Marc Newson’s luxurious Lockheed Lounge chaise, which had a pre-sale estimate of between £500,000 and £700,000 at Christie’s, managed to sell for 1.1 million pounds ($1.6 million), which is an auction record for a piece of contemporary design art.

• License plate ‘1 D’

March 2009: DLVA (Driver and Vehicle Licensing Agency) auctioned off a personalized license plate “1 D” for a staggering £352,411 (US $513,047). The sale broke the record price paid for a specialty plate in the UK.

• Pearl Carpet of Baroda

March 2009: The beautiful Pearl Carpet of Baroda was sold for $5.5 million at Sotheby’s in Qatarand, which was a record price paid for a rug.

• Wittelsbach diamond

Dec 2008: At Christie’s in Central London, the Wittelsbach diamond became the most expensive stone or piece of jewelry ever sold at an auction. London Bond Street-based jeweler Laurence Graff paid a whopping £16.4 million (US $24.47 million) for the extraordinary Wittelsbach diamond.

• 1928 Type 35B Bugatti

Oct 2008: The iconic 1928 Type 35B Bugatti fetched £2.5 million in an auction in Britain. This sale made it the most expensive car sold in its category to date.

• Hirst’s Golden Calf

Sep 2008: Damien Hirst smashed his own previous auction record with the $18.5 million sale of his work entitled “The Golden Calf” at Sotheby’s.

• 1960 Jaguar ‘E2A’

Aug 2008: The legendary prototype sportscar that helped shaped the future of Jaguar was auctioned off at Bonhams & Butterfields’ Quail Lodge Sale in California for just under $5 million, setting a new world record.

 

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