In the last month, 11 different Montici mosaics have come up for auction – six from Myers Fine Art in Florida, and five from Leslie Hindman in Chicago. In the space of just one month in 2023, we’ve logged more works put up for bid than in all of 2022 (eight Montici works).
Why the surge in availability? I’ll venture a guess. The World Wide Web.
Anyone who owns a Montici work, is remotely curious, and has an internet connection, has probably stumbled on us. We launched the Montici Society website back in January 2021. Then, you had to scroll down a dozen pages before we appeared. Today, If you google the term “montici,” our site tops the search results. Same thing if you search “montici mosaics.” If you search “Richard Blow” the first result that pops is his great-nephew, an author who wrote a controversial bestseller biography of John F. Kennedy Jr. But the Montici Society still makes the main page, right on his heels (7th result). We’re closing in on 12,000 page views. Visitors to our site with a Montici for potential sale can follow the market. If they’re looking to sell, they know it’s a great time to do so
On the flip side, the Society has helped educate a new generation of collectors eager to own and open to spending.
Richard’s artworks continue to blow way past estimates.
The just completed May 24, 2023 Hindman auction (see Market Report) was an eye-opener for me. The five Montici mosaics snatched up are fun pieces, but in my humble opinion not exceptional. Two years ago, they would have sold in the $1,000- $3,000 (hammer) range. The estimates set by Hindman seem to have reflected hat thinking. Maybe it’s time for us to re-calibrate expectations
Every one of the 5 Hindmsn pieces exceeded the high estimate – three wildly:
· MSID “Two Cats #2” estimate: $1,000-$1,500; price including 30% buyer’s premium: $8,820
· MSID “Ram” estimate: $1,500-$2,500; price including 30% buyer’s premium: $10,710
· MSID “Snail” estimate: $2,000-$3,000; price including 30% buyer’s premium: $9,450
· MSID “Owl” estimate: $2,000-$4,000; price including 30% buyer’s premium: $8,190
· MSID “Cockfight” estimate: $2,000-$4,000; price including 30% buyer’s premium: $6,300
The average sales price per mosaic was $8,700.
Besides educating buyers and sellers, the Web has boosted Montici sales in a third, key way: Online bidding now allows anyone anywhere on the globe access to the auction floor. The Society itself has visitors from 39 states and 31 foreign countries following the market online and able to bid remotely. During this auction, Hindman had 54 potential collectors linked in via LiveAuctioneers, tracking and/or bidding. The bidding was spirited: The battle for “Two Cats” ran 28 consecutive bids. It took the winner 27 rounds to secure the “Ram.
If you want a Montici these days, be prepared to compete.
Michael Schmicker
FOOTNOTE: We couldn’t find a Montici logo in the photos supplied by the seller of the “Two Cats #2” mosaic. We include this mosaic for information purposes only. For more commentary on “Two Cats #2,” see Michael’s Blog, 6/1/23 “No Logo, No Montici?”