Leonard Joel

Focus on Hermes at the Pre-Owned Lucury Auction

Luxury 19 Mar 2012

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At the Leonard Joel Pre-Owned Luxury Auction on Sunday 18th March 2012 an interesting survey of Hermes items came up for auction. In this post-auction wrap we highlight the strongest results from this fashion icon and results from other houses of luxury.  Again it was evident that Hermes fanatics were keen to avoid long waiting lists when lot 330, a Kelly handbag realised $7930 (IBP) against a low estimate of $6500. Continuing the “Kelly” theme, lot 309, a padlock wristwatch by Hermes (illus.) sold for $1220 (IBP).

One of the more rare Hermes pieces on offer was lot 305, a vintage silver cuff beautifully pierced with stars and crescents. Complete with its original box and packaging it realised $840; almost doubling its low estimate. Hermes was not the only show-stopper on Sunday with a superb, as-new condition L’Extravagant overnight bag in Suhali leather by Louis Vuitton realising $4,800 (IBP) – the price was a fraction of its retail cost and represented astute buying.

The highest price for the auction again went to Hermes with the sale of lot 330 (see earlier in this piece) and confirmed the appetite for high-quality “as new” (but not new!) leather goods by luxury brands and that Australian buyers are now feeling more comfortable with the idea that they are collecting beautiful pieces of design rather than simply buying second hand items. The auction realised $62,000 against a low estimate of lots sold of $55,000, or 113% by value of lots sold. The Pre-owned Luxury department is now seeking entries for high-quality leather goods or indeed entire fashion collections for its mid-June 2012 auction.

Enquiries
John D’Agata – Head of Jewellery
Tel: 03 8825 5605
Email: John D’Agata

Image details
Lot 309, a padlock wristwatch by Hermes
Estimate $1,200-$1,500
Hammer Price: $1,000
Price IBP: $1,200