Roman Elvis underdelivers
Friday, October 17th, 2008
He sold for £24,000 ($41,000). The estimate was between £25,000 and £30,000, so somebody got themselves a bargain.
Apparently the whole Bonhams auction sold a lot less than expected, despite the publicity from Roman Elvis and Italy demanding some of their stuff back.
David Gill lays it out adroitly.
Out of three lots that got the most attention, one (Elvis) sold under estimate, one (the Hydria) was withdrawn due to its being stolen goods, and one just didn’t sell. The overall sales total was projected to be something in the $1.3 million range. Instead, they made $814,000, and many lots remain unsold.
Perhaps the bleak economic news is making people less willing to spend big on Roman bouffants.
