Date: Fri 30-Apr-1999

Publication: Ant

Author: JUDIR

Quick Words:

Wolf

Full Text:

Wolfs Antiques Internet Auction

W/2 cuts

CLEVELAND, OHIO -- The first fine art and antiques Internet auction conducted

by Wolf's Fine Arts Auctioneers began with a bang. As the first established

auction house to conduct an auction of this nature on the Internet, Wolf's is

blazing trails and selling art for top prices at its worldwide website

www.ewolfs.com.

The most notable lot, an oil by the American artist James E. Buttersworth,

depicts a yachting race at New York Harbor and bore a pre-sale auction

estimate of $50/70,000. The bidding began modestly on April 16 and steadily

rose over the week to a high of $152,500 before the final minutes began to

count down. The final bidders vied for the lot, each bidding strategically.

While the computer system proved itself worthy, a mini drama unfolded as an

excited bidder continued bidding against himself, driving his own price up.

However Wolf's, in fairness to all bidders, adjusted the bid, completing the

auction of the piece online. When the dust settled, the Buttersworth had

garnered a price of $187,000, more than three times the estimate.

"The minor glitches we encountered today are far fewer than we expected and

will be easy to reprogram for our next auction. From the overwhelming response

we have received, it is clear that the convenience and excitement of this new

format is very gratifying for the bidders," said Michael Wolf, President.

Other fine art from the first two days include a large and wonderful oil by

Jonas Lie, dated, 1922 depicting a tranquil pond through a forest of birch

trees that quickly rose to a high bid of $37,400, well above the high

estimate; and a Franz Unterberger oil for $13,200 (est $10/15,000). A striking

landscape by Andrew Dasburg brought $11,500, just above its low estimate; one

of two oils offered by Charles Salis Kaelin brought $11,000; and a scene of

Venice by Abel Warshawsky selling above estimate for $7,700. A portrait in oil

by Frank Duveneck sold for $5,000 (est $4/6,000).

Works on paper included a watercolor by the Cleveland School artist William

Sommer (est $2/4,000) for $5,610; a Shiko Munakata woodcut fetched $2,860,

well above estimate; and a silkscreen from the "Ad Series" by Andy Warhol,

$7,150, a strong price. Other offerings from the Warhol "Ad Series" sold well

within their pre-sale estimates.

For more information, Wolf's at 216/575-9653.