The American Numismatic Society
NEWS RELEASE
96 Fulton Street
New York, 10038
Tel: (212) 571-4470
Fax: (212) 571-4479
http://www.numismatics.org
The American Numismatic Society NEWS RELEASE |
|
96 Fulton Street New York, 10038 Tel: (212) 571-4470 Fax: (212) 571-4479 http://www.numismatics.org |
For Immediate Release
MORTON & EDEN SET WORLD AUCTION RECORD FOR SINGLE-OWNER SALE OF ORDERS, MEDALS AND DECORATIONS
Russian buyers fight to repatriate their country’s heroic past
London specialist auctioneers Morton & Eden established a new world record auction for a single-owner collection of Orders Medals and Decorations which ended yesterday (Thursday October 26) when a sale on behalf of the American Numismatic Society raised a total of £2,062,531.
The two-day sale this week was the second part of the ANS collection. When added to the £1,033,459 raised by Part One of the sale, held by Morton & Eden in May this year, the total swells to £3,095,990, representing a world auction record for a medal property from a single source. A third sale from the same collection on behalf of the ANS will take place in the Spring next year, raising the benchmark yet further.
“This week’s sale was astonishing with collectors prepared to pay amazing prices,” said auctioneer James Morton. “Never before has such quality and quantity been brought to auction or with such splendid provenance as the ANS collection. That, coupled with the incredibly rarity of many of the pieces on offer, meant buyers had the utmost confidence in bidding. The result was the most valuable single-owner collection that has ever been sold at auction, with more to come.”
The sales are being conducted on behalf of the American Numismatic Society who from the late 19th century to the middle of the 20th century, accumulated a large collection of and world campaign and gallantry medals, orders and decorations. In recent decades the Society has gradually refocused its priorities, concentrating on its role as a museum of money and related artefacts, moving into new headquarters near Wall Street in Manhattan, and partnering with the Federal Reserve Bank of New York to create a major exhibition about the history of coins and currency.
Executive Director of the New York-based ANS Dr Ute Wartenberg Kagan, who attended the sale, said she was delighted with the result. “The results achieved both this week and in the previous sales will greatly enhance our buying power in the future and we are grateful for the support shown by collectors and dealers.”
It was the Russian section, sold on the afternoon of the first day of this week’s sales on Wednesday October 25, that produced most of the highest prices. Buyers were mostly Russian collectors or dealers buying on behalf of collectors, often paying up to 10 times estimates to repatriate examples of the orders, medals and decorations awarded to citizens in historic and heroic events during the 19th and 20th centuries, notably for one which set a world auction record for any Russian order.
A very fine and rare gold and enamel sash badge by Julius Kebel of St Petersburg and dated 1865, one of few surviving examples of the Order of St Andrew, was purchased by a Russian private buyer for a record £109,250 after a lengthy bidding battle with other collectors in the crowded saleroom. It had been expected to fetch £12,000-15,000.
The first and the highest order of chivalry of the Russian Empire, the order was one of only 1,000 awarded until its abolition following the Russian Revolution in 1917. It had been established in 1698 by Tsar Peter the Great in honour of St Andrew, the patron saint of Russia and awarded only to the most eminent civilian or military merit.
During the monarchy, recipients of the Order of St. Andrew also automatically received the Order of St. Alexander Nevsky and another Russian buyer paid £69,000 for a very fine and equally rare example. The order was established in Russia by Catherine I in 1725 in memory of the deeds of Alexander Nevsky who rose to legendary status on account of his military victories over the Western aggressors. The silver-gilt breast star had been estimated at £8,000-12,000.
The same buyer paid the same amount for a Grand Cross breast star in gold and enamel from the Order of St Anne, Civil Division, which had been estimated at £4,000-5,000. The order was established by Duke Charles Frederick in 1735 and named for his wife the Grand Duchess Anna Petrovna of Russia, daughter of Peter the Great.
An example of the Order of the White Eagle of exceptional quality which was expected to sell for £12,000-15,000 also sold to a Russian buyer for £59,800. Of reduced size to be worn at the neck, the order was instituted by Augustus the Strong of Poland in 1705, becoming a Russian Imperial Order following the absorption of Poland into Russia in 1831.
The Russian section alone raised a total of £1,285,475.
Highest price among a strong selection of British orders, medals and decorations was the £55,200 paid by an English private collector for a “blue Ribbon” Naval issue Victoria Cross awarded in 1858 to George Bell Chicken for his valour during the Indian Mutiny. A volunteer with the Indian Naval Brigade, Chicken was one of only five civilians ever to be honoured with Britain's premier gallantry award.
The medal had the unusual status of being an original but unawarded VC, while a duplicate but official Cross was duly presented to Chicken’s father after his son was lost at sea in 1860.
A rare Naval General Service medal with two clasps: "Indefatigable 20 April 1796" and "Indefatigable 13 Jany 1797" awarded to Volunteer 1st class John Harry, sold for £48,300 against an estimate of £20,000-25,000. Only about eight of each clasp to the medal were awarded. In C.S. Forester's novels, Mr Harry has the famous fictional shipmate, Midshipman Hornblower. Forester’s hero joins HMS Indefatigable at exactly the same period as Harry, becoming embroiled in adventures which, partially at least, are based on fact.
An Army Gold Medal awarded to Captain Francis Scott, a casualty at the Battle of San Sebastian in 1813 sold to a private collector for £25,300 against an estimate £8,000-12,000.
New York dealer Stack paid an above top estimate £21,850 for a very rare gold and enamel Principal King of Arms Badge, circa 1820, with Hanoverian shield. The British section raised £477,836.
Turkish orders, medals and decorations were also highly sought-after, 80 lots adding £60,950 to the total where just £20,000 was anticipated, while the entire morning of the first day’s sale was devoted to Germany, which raised £220,420. Here, a particularly fine example of the Prussian Pour Le Mérite gallantry medal, better known by its nickname as the iconic "Blue Max" sold to a private lady collector for £14,950. It had been estimated at £6,000-8,000.
Notes to editors:
All prices include the 15% buyers’ premium paid at the sale.
Morton & Eden Ltd., are specialist auctioneers of Collectors’ Coins of all periods and types, War Medals, Orders and Decorations, Historical Medals and Banknotes. The company was founded in 2001 by James Morton and Tom Eden, who were both directors of the Coins and Medals Department at Sotheby’s, with whom the company maintains a close association.
For more information regarding Part 2 of the ANS sale please contact:
Press Officer: Christopher Proudlove, Tel/Fax: 01492 544 514. Email: chris@Chris-Proudlove.co.uk
At Morton & Eden: James Morton, Tom Eden or Paul Wood, Morton & Eden Ltd, 45 Maddox Street, London W1S 2PE. Tel: 020 7493 5344. Fax: 020 7495 6325; Email: info@mortonandeden.com
At Sotheby’s: in New York: Matthew Weigman, Tel: (001) 212 606 7176. Email: matthew.weigman@sothebys.com; in London: Mitzi Mina, Tel 020 7293 5169. Email: mitzi.mina@sothebys.com .