It takes two.
If Jesgord saw a $10K bid in the item's Bid History, it not only means that a buyer was willing to pay $10K, it also means that ANOTHER buyer was willing to pay at least that much.
I can see why the seller freaked out -- opening at $9.99 and then receiving multiple bids for $10K+ probably doesn't happen to him very often -- but cancelling the auction to gather more information was probably a mistake. He apparently already had bidders who believed that the piece was authentic and were prepared to bid accordingly, so at this point the value can only go down: If he relists the sculpture now WITHOUT a verifiable authentication from a recognized Noguchi expert, there'll be no doubt in any buyer's mind that the piece is not Noguchi's, and the seller will be lucky to get whatever the bidding was stuck at for the last few days -- $1480 or so.
Either way, I hope we see it again on Ebay; Wright auctions are so much less exciting...
Interesting situation.
If a tantalizing item appears in a downscale venue-- like Ebay or a low-end auction house -- it excites the imagination. A lost masterpiece surfaces! Seller hasn't a clue! This thing is clearly valuable!
The price could go far above the item's "market" value.
If a highfalutin auction house sells the same thing, the item may not even meet the estimate. Once a thing is identified as being worth X, no one's very excited.
I've sold a couple of things through "high" auction houses that performed terribly, I have no doubt I could have gotten double for them on Ebay, where the buyer's imagination isn't reigned in by an "official" estimate.
Though in the case of a Noguchi --an in vogue artist-- the high-end auction venue would undoubtedly yield the highest price. If it were to eventually resurface on Ebay, it'd be admission that it's only some sort of copy, obviously.
The whole thing is...
The whole thing is fascinating to me. I find it hard to believe that CBS would let something like this slip through their hands, but you never know. If it turns out to be legitimate, I wonder if they would make a claim of ownership? Authenticity aside, it does not strike me as a particularly difficult piece for a skilled woodworker to fabricate. Looking at the picture of the sculpture "torn down" one almost has a template in place to create an accurate reproduction. The quality of the finished work would depend on the wood used and the abilities of the woodworker-no complex joints to mess with. I'm thinking about printing out the page and making a scale version in cardboard, then maybe balsa. I suspect the dimensions will have to be altered slightly due to distortion in the forms created by the camera angle?
Jesgord the listing says it...
Jesgord the listing says it was from the estate sale of a cbs execs but had been at the CBS HQ before that.
William...as Im sure you know there are a few pieces that slip through the net and make their way into low end auctions and sell for very little and IMO it would seem that this was going to be one of them. Ive seen and heard of people making absolute killings with pieces purchased for very little.
That is was on display at...
That is was on display at CBS headquarters, makes me think it may have been owned by CBS. Perhaps, though, it was owned by the CBS exec. I tried to find evidence of a Noguchi sculpture displayed at the old CBS headquarters (they have since moved) and was unable to find anything on the intrawebs.
"the odd thing is why didn't...
"the odd thing is why didn't they accept the buyers 10k?
pangs of guilt perhaps? admission of a copy?"
This is the big question. They never made any reps that it was a Noguchi sculpture. If they know its fake, why not take the 10K and let the purchaser be on the hook. Someone out there must be telling them it may be real. Essentially, it seems they're leaving the 10K on the table for the possibility of a gigantic payday. Interesting gamble. Makes me think there is some possibility it is, indeed, authentic, no?
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