A tall Queen Anne-style chest of drawers in mahogany, built and signed by Rhode Island cabinetmaker John Townsend, was auctioned by Sotheby’s this past weekend. The winning bidder paid more than $3 million. Make that $3.5 million when you tack on the buyer’s premium!
According to the auction catalog, the piece, built in 1756, is Townsend’s earliest surviving high chest. It still has the original finish, hardware and finial. What’s more, this particular chest has been handed down through the generations, within the same family. In an age when factory-made furniture is lucky if it survives two or three generations, that’s food for thought.
And here’s something humbling to ponder while cutting your next set of dovetails. Townsend built the piece when he was just 23 years old. A fitting start to an extraordinary career.
Record-Setting Furniture Auctions
In the grand scheme of period furniture auctions, $3.5-million is actually small potatos. Have a look at these eye-popping auction prices and you’ll see what I mean. Visit Christie’s website for even more record setters.
 |
The Nicholas Brown Chippendale Mahogany Block-and-Shell Carved Desk-and-Bookcase Townsend, Goddard School, 1760-1770 Sold through Christie’s for $12,100,000, June 3, 1989. This set a world auction record for any piece of American furniture. |
 |
The Sarah Slocum Chippendale Mahogany Block-and-Shell Carved Chest-of-Drawers Labeled by John Townsend, 1792. Sold through Christie’s for 4,732,500, June 18, 1998. This set a world auction record for a chest-of-drawers. |
 |
The Hollingsworth Family Chippendale Carved Walnut High Chest-of-Drawers, Matching Dressing Table, and Side Chair Thomas Affleck, 1765-1775 Sold through Christie’s for $2,972,500, January 16, 1998. This set a world auction record for a suite of Philadelphia furniture. |
 |
A Chippendale Carved Mahogany Tea Table 1760-1780 Sold through Christie’s for $2,422,500, January 1995. This set a world auction record for an American tea table. |
Comments
A beautiful piece, to be sure. It's a shame we can't bypass the initial-user market, and jump directly to the collector market. ;-)
Assuming an initial price of $10, that's an annual yield of just over 5%.
-Steve
On the same weekend the document box below sold for $3,400,000 at Christie's aucton house.
Our Period Furniture Group are currently working on reproductions of the piece.
http://www.christies.com/lotfinder/a-rare-and-important-chippendale-carved-mahogany/5526952/lot/lot_details.aspx?from=salesummary&intObjectID=5526952&sid=07ff92fd-0a34-40c3-a4ad-4cffe54d2a6a
Jerry
@saschafer
Now THAT was funny!
I wonder what Tommy MacDonald got for his bombe chest a couple of years ago. The one that got him started on his Rough Cut webcast before the PBS show.
Awesome work.
So what are you telling us? We should try to pass down works of art that will bring fortunes to future heirs in the next century? I better get started (on more heirs, not furniture).
Log in or create an account to post a comment.
Sign up Log in