In May 2009 this blog conjured with the idea of buying a WW2 Spitfire, as a couple had been sold, the more expensive going for £1.58m. Well, at this month's Masterpiece Fair at its new "permanent" home in a tent at Chelsea barracks, there is a real Spitfire inside the tent with a price tag of £8m. Some recession, wow. If that's a bit rarified, then try a Ferrari 250 LM built in 1964 with full race provenance at £4.25m. Bit new money for you, then there are numerous "best of the best" opportunities to spend your lottery winnings on (or your bonus or a couple of weeks wages for sporting types).
What's your point? It is this. Items that were, in effect, mass produced and still surviving in small numbers can produce incredible valuations. Later high fashion objects d'art can command £1m+ figures for stuff that is easy to fake. Police estimate that up to 40% of valuable works of art are fake.
So why is it that clocks by some of the greatest makers of all time with perfect pedigree and often unique start to struggle when the numbers get into 6 figures. At this Fair a magnificent month going mulberry cased numbered Tompion longcase with impeccable provenance which has survived since 1693 does not make seven figures. There are thousands of people who can sign a cheque for over £1m for stuff that many of us would not give wall space to but I am reliably advised there are probably only about 20 clock collectors in the world who might consider such sums for their horological toys. Many more for old motor cars. Don't forget Forbes estimates there are over 1200 billionaires worldwide; what's the odd £8m. All the clock specialists have to do is turn one or two very public figures into notable collectors. Get to work!!
Masterpiece had 4 signed, previously undisplayed tavern clocks for sale. Three were offerred by Carter Wright; Jason Cox of London (shield dial), Ralph Glover of Hyde Park (smallest round dial ever seen in highly original condition) and an all black round dial with chinoiserie by J Liddell of Morpeth, all beautiful. Raffetty & Walwyn showed a very handsome white round dial by Quartermaine of Aylesbury. Typical prices in the mid teens to mid twenties. Expensive? Not by the standards of the trophy makers and these clocks are more difficult to come by in the right condition.
Enjoy your summer as Tavernicus takes time out
