Native American Art Auction

July 28th, 2009

Featured on the front cover of the catalog, the 1790-1830 Tsimshian war dagger, traditionally named Eagle at the Head of the Skeena River, was the top-selling lot in the auction. Handed down through generations, this potent symbol descended from Chief Legaic (or Legaix), an early, powerful leader. The dagger sold for $482,000 (est. $400,000/ 600,000) to Donald Ellis of Dundas, Ontario.

Bonhams & Butterfields, San Francisco, California

by Alice Kaufman

Photos courtesy Bonhams & Butterfields

What recession? At the June 1 auction of Native American art at Bonhams & Butterfields in San Francisco, the first 120 lots, all Navajo and Zuni jewelry from the estate of New Hope, Pennsylvania, dealer Lynn Trusdell, resembled a feeding frenzy. Jaws were dropping all over the room as Navajo bracelets sold for $3000 to $5000. As jeweler, scholar, and dealer Robert Bauver of Orange, Massachusetts, said, "Somebody's got to put the economy back on track."

One collector explained his motivation: "Either buy it now or pay two thousand dollars more later."

Another explanation came from an East Coast dealer: "Many of these pieces have been illustrated in books, and some collectors want 'the dream piece' that they've seen in a book. Collectors were bidding very strongly."

Another dealer reacted, "I'm in shock. Whatever happened to the good old days?"

Another called the jewelry prices "super, super retail."

Yet another dealer shrugged his shoulders and said, "It's crazy."

Bracelets! The bidders couldn’t get enough or pay enough. This lot of two Navajo bracelets (est. $1500/2500) sold for $11,590 to an East Coast dealer.

This classic, very tightly woven Navajo poncho serape was illustrated on the catalog’s back cover. It sold for $67,100 (est. $60,000/90,000) to a Southwest dealer.

Not everyone was in shock. Tad Anderman of Silver Plume Trading Co., Albuquerque, New Mexico, who bought a significant number of the best bracelets from the Trusdell collection, said that the prices for the bracelets were "quite as high as I expected. Between the bracelets offered in lots and individually, the prices were not hitting our retail gallery or show prices. There was especially a lot of room in the multiple lots to make money."

Does he plan to sell them all? "Every one will go up for sale," he replied. "In fact, someone bought the very best bracelet a few minutes after I bought it. People need to know that even in this group of above-average material, there were only a handful of really great, top-tier pieces—tens on a scale of ten." And did he buy any of those? "I got two of the four best."

As always, there were some naysayers. The best bracelet, one dealer said, sold for less than it was worth, while everything else sold for more. There was talk about the origins and age of some of the pieces.

Bonhams' Native American art specialist Jim Haas said he was surprised that some of the jewelry "went so strong, but I knew it would perform extremely well. Everything flew out the door."

Most of the Trusdell collection items had low estimates. "There was no pressure at all from the executor to bump them up. From experience, I know that good things with low estimates bring wild attention. Ultimately, though, this fabled collection was going to bring wild attention anyway," Haas said.

Fabled? "Lynn wouldn't show things to people. Very few people saw most of these things. And if someone actually got her to show them something, it was priced at two or three times what things sold for today. In other words, not for sale."

The auction brought in a total of $1,831,381 (includes buyers' premiums). The next Native American art auction will be held in San Francisco on December 14. More jewelry from the Lynn Trusdell collection will be offered but, Haas said, not "the best of the best."

For more information, check the Web site (www.bonhams.com/us) or contact Jim Haas at (415) 503-3294.


Originally published in the August 2009 issue of Maine Antique Digest. (c) 2009 Maine Antique Digest
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