One important indicator of the recovery of a faltering economy is how well the arts marketplace is fairing. If this is so, then there is much to be optimistic about. Judging by the success of the 21st Annual Haughton’s International Fine Art and Antique Dealers Fair, which took place in October, 2009, an economic recovery is well underway.
One of the many participants, Phoenix Ancient Art, sold many antiquities during the weeklong fair which took place from October 16-22nd. Hicham and Ali Aboutaam, proprietors of Phoenix Ancient Art, reported that there were 6 separate bids for a Roman figurine of a female dating back to the first century, whose asking price was $800,000.
Also sold by Phoenix Ancient Art was a ceramic oinochoe-shaped vase. This head vase dated back to 450 BC and sold for $300,000. For $120,000 a lucky buyer was able to acquire an early Roman bust of unique and delicate beauty.
Housed in the Park Avenue Armory in New York, the fair caused many smiles to be seen by both sellers and buyers. “Some dealers have said they’ve seen clients they haven’t seen in two or three years,” said Anna Haughton, who reported a sea change in mood from June when dealers were “apprehensive”.
Last year’s fair also looked different than in previous years. 15 dealers were drop-outs, while there were 21 new comers to the fair. Missing were the impressionist and pointillist paintings that used to sell for astronomical sums, and in their place was more of an emphasis on the decorative arts.
Ali and Hicham Aboutaam of Phoenix Ancient Art were pleased with last year’s results and are looking forward to an even better year at the upcoming fair.
