On March 10th Sotheby's New York hosted the first design auction of 2011. The sale total for the day reached $3,551,816, $3,390,253 of which can be attributed to specific designers.
The sale kicked off the collectable design market year with a steady, safe start. While there were no extraordinary sales, each lot sold for an average of 21.43% above its median estimate; revealing that the auction faired a bit better than anticipated by Sotheby's.
83.24% of the total lots attributed to designers sold; which is far above the global average percentage of lots sold in 2010.
Below, we have compiled the list of DeTnk's top 10 designers from the sale. The ranking takes into account the value, volume and percentage bought-in of each designer's total sales.
It seems that collectors are still keen on Emile Jacques Ruhlmann; purchasing all of the lots on offer at an average of 35.38% above the median estimate.
Jean Dunand pleasantly surprised the Sotheby's valuators with his lot selling for $92,500 - 62.16% above the median estimate.
If this sale represents the current climate of the design market, 2011 will be a year of steady growth.
You can see selected lots from this sale on the auction lots page at DeTnk.