NEW ORLEANS – With the challenges facing the U.S. and global economies, it is comforting to know fine art and antiques are proving to be secure categories to spend and invest.
M.S. Rau rounded out 2008 nicely with the sale of a John Atkinson Grimshaw painting for $1,265,000. 2009 has shown to be very successful thus far with the sale of paintings Town View of the Hague with the Nieuwe Kerk by Vincent van Gogh and Pine Trees at Varengeville by Claude Monet, both for seven figures. Also in 2009 the gallery has sold works by Utrillo, Rockwell, Spencelayh and Landini; all in the six-figure range.
According to Artnet.com, over 1,000 auction records were set between January and December of 2008, with artworks by Claude Monet ($80,379,591) and Auguste Rodin ($18,969,000), both boasting over 50 percent increases over previous records, securing comfortable positions in the “eight-digit club.” That trend continues into 2009, as both Christie’s and Sotheby’s reported net auction sales in the first days of February of $184 million. In February, the long-awaited Christie’s Yves Saint Laurent auction did far better than anticipated, ringing in an astonishing $477 million, nearly double the initial estimates and with many items going for anywhere from 4 to 10 times their individual estimates.
M.S. Rau Antiques has been a New Orleans landmark for nearly 100 years. The 25,000 square-foot French Quarter gallery offers some of the finest antiques shopping in the world. Visitors will find one of the world’s most extensive collections of rare 18th and 19th century antiques, fine art, cut glass, jewelry, silver and objets d’art.
For more information, visit www.rauantiques.com.