Sotheby's 2017 Americana Week Sales Bring Highest Total In A Decade

Six Auctions Total $19.4 Million in New York

Week of Sales Is a Strong 80% Sold by Lot

PROMINENT INSTITUTIONAL BUYERS INCLUDE The Museum of Fine Arts, Houston; The Philadelphia Museum of Art; Shelburne Museum

'WHITE GLOVE' AUCTION OF ALEXANDER HAMILTON LETTERS & MANUSCRIPTS IS 100% SOLD

NEW YORK, Jan. 27, 2017 /PRNewswire/ -- Sotheby's BID annual Americana Week auctions concluded over the weekend in New York with an outstanding total of $19.4 million—the highest Americana Week total at Sotheby's since 2007*. More than 1,000 lots were sold across six auctions, with a strong overall sell-through rate of 80.4%. These results were anchored by the performance of an impressive number of distinguished private collections, including those of George S. Parker II, Iris Schwartz, Ralph and Suzanne Katz, E. Newbold and Margaret Du Pont Smith, and Joan Oestreich Kend, which were viewed by over 5,000 visitors during our week of exhibitions in our York Avenue galleries.

An Important Gilt and Painted Molded Copper Goddess of Liberty with Flag Weathervane, Possibly by J.L. Mott Ironworks, New York, circa 1880

Erik Gronning, Head of American Furniture & Decorative Arts at Sotheby's, summarized the week: "The spectacle of this year's Americana Week was rejoiced by collectors as there was something for everybody. It was an honor to handle such a broad diversity of important collections and the spirited bidding ensued resoundingly confirmed that Americana is alive and well. "

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Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as the collection advisory services of its subsidiary, Art Agency, Partners. Sotheby's presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

*The highest-ever total for an Americana Week series at Sotheby's is $29.1 million, achieved in January 2007.

*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.

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SOURCE Sotheby's

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