Philadelphia stool sells for 5.2 million ...

Could someone enlighten me on why the stool fetched that price?  I suspect Albert Sack knew what he was doing.
 
Dealers don't always buy for themselves. I suspect he was bidding for a client who wanted it. Obviously some else must have wanted it too to drive the price up like that. It looks to be original upholstery and probably has great provenance. I don't believe that is a common form for a stool either.
Mike
 
"Could someone enlighten me on why the stool fetched that price?"

Any certifiably American colonial-period stool is an incredible rarity, orginal fabric on an upholstered piece is even more rare, and Queen Anne period furniture is more rare than Chippendale.  While the Sotheby's description notes that it was re-upholstered, it was done so with original period fabric (which is also extremely rare).  The Sotheby's description doesn't note when the re-upholstery was done, but it might have been a period repair, which make it almost as good to a collector as orginal upholstery.

The interesting thing to me is that rarity seems to trump all else in colonial period furniture - there was also a very nice Chippendale oxbow chest of drawers in the same sale, with original brasses, attributed to John Chipman that went for just under $200,000.  Now, assuming you had the bank account to support such a purpose, which would you rather have - the footstool for $5 million +, or the Chipman chest of drawers for $200,000?  Personally, I'd much rather have the dresser.
 
The Antiques Rogue Show, I have just watched a good drama, in England, on BBC TV.
I post its transcript:A compelling drama documentary about one of the world's prolific and most diverse art forgers. The Greenhalgh family lived by modest means on a council estate in Bolton,UK.

you can read the full story & see the film from the reposted: The Antiques Rogue Show

                                                    Joseph Hemingway
                                                        Sharing the Tricks of the Trade
                                                            1968-2008
 
Yeah, i remember that Moore stool that Sack purchased for 5 mil. in 2008. In light of a very similar form stool that just sold this past Jan for 500k, i think its obvious now that Sack over paid. This kind of thing happens at auction, a very rare object hits the market with great fanfair which is believed to be the only one in existance. Add in 2 very determined bidders and BAM!, an auction house dream comes true.

http://www.christies.com/LotFinder/lot_details.aspx?intObjectID=5286965
 
Looking closely at those photos of christies is interesting, that is not the way I would have thought of that being constructed, looks sort of half-lapped with another piece added for the frame and then the legs tennoned through. Maybe the curves of the sides would have made tenons difficult(too much runout). Perhaps a full scale drawing would answer that. Something to think about. Thanks for the link.
 
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