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Great Expectations Any turnover of a decade, much less a century or millennium, is inevitably accompanied by loud declarations that society is heading into a bright new era. Of course, such predictions aren’t always justified by the mere trick of a changing calendar. As 2000 rolled in, however, the musical-instruments market really did seem to be shaking off some of the ghosts of its past, and to be publicly embracing (if reluctantly, in places) new ways of doing business. Most of the dealers and auction-house experts we spoke to told Strings confidently that the market is in fine fettle. It has taken most of the ’90s for many observers to be so certain. Auctions of the 1980s saw unprecedented increases in prices paid, until the euphoria ended in a terrible crash—at least in the fine-paintings market. Instrument auctions paralleled the unprecedented growth in prices; but even though a corresponding price drop never actually came, the inevitable slowdown turned much of the next decade into an exercise in psychological recovery. Sales of good-quality instruments chugged along at a reasonable pace, but the era of high excitement ("speculative buying," in the words of one expert), was over. However, 1999 was a banner year for most of those interviewed, with more and more players appearing in shops and auction houses. "Because of all the Y2K fears, I was somewhat worried in the beginning [of the year]," admits Robert Cauer, a violin dealer in Los Angeles and current president of the American Federation of Violin and Bow Makers. "That fear was totally unfounded." Experts at the auction houses concur. "It’s been an amazing year!" exclaims Tim Ingles, instrument expert at Sotheby’s in London. For Ingles, the highlight of 1999 was Sotheby’s November sale of the late Yehudi Menuhin’s instrument and bow collection. "That was the highlight of the decade, let alone 1999," he volunteers. "Musicians like Menuhin come along once every generation, and it was an extraordinary honor for us to have the collection." Ingles considers the violin bows to have been the most interesting items, citing in particular three François Tourtes that sold for £30,418 ($49,185), £37,030 ($59,878), and £42,205 ($68,245; all of these figures include the buyer’s premium) as lots 57, 58, and 59. A bow was also the top pick of Kerry Keane, now head of the musical-instruments department at Christie’s in London and New York (Keane was formerly Skinner’s resident expert in Boston). "The highlight for me, though it probably wasn’t the most expensive thing Christie’s sold, was an absolutely exquisite Joseph Henry cello bow [lot 181]," he says. "It was ca. 1860 and came from a private musician in England who was flabbergasted when I gave him a presale estimate of £8,000–£12,000. Its hammer price was £17,000 (with buyer’s premium, $31,671). He was darned happy! It went to a musician." David Bonsey, now heading the musical-instruments department at Skinner, also said bows sold well in 1999, as did cellos. "We had two Sartory cello bows," he says of the November sale, "both in fine condition. Both sold for around retail prices ($13,225 and $15,870, with buyer’s premium, for lots 97 and 106 respectively). The market for Sartorys is still really, really strong." For Peter Horner, the expert at Bonhams in London, the November sale of lot 74, a Gennaro Gagliano cello, was the highlight, setting a world record for the maker. "It came from a private family," he says, "and the hammer price was £220,000 [with buyer’s premium, $409,860]. It went to a player." Over at Phillips, instrument expert Philip Scott sums it up this way: "The year began with promise and finished up brilliantly, in spite of the strong pound. The Joseph Rocca violin that we sold in November [as lot 127] made an auction record, £160,000 with the buyer’s premium [$238,464]. It was a collector who bought it; the two Nicolo Gaglianos in that sale also went to collectors, who were outbidding everyone else." Scott pegged the individual collectors as the big rollers this year. But several of the top items listed by the other auction-house experts went to players. And Scott himself agreed that "players are entering the market in quite a strong way." "I myself have spent the last 13 years trying to make players comfortable with the auction process," Christie’s Keane says emphatically. "Auction houses aren’t ever in the position to offer all the services that a retail venue can offer, and we’d be fooling ourselves if we said we could. But if you’ve got trained specialists, then you can, as a consumer, feel confident in the condition report you get. And I see, more and more, that musicians may be willing to trade condition for price." Dealers don’t seem worried that they’re losing business to the auction houses, however. "They exist, that is a fact of life," Cauer says philosophically of the auctions. "As long as I’m doing the way I’m doing now, I won’t gripe about it!" Richard Ward, of Ifshin Violins in Berkeley, California, says he’s also heard from the auction houses that players are more interested in buying and selling in that venue, but he has not seen any corresponding drop in customers at the dealers’. "There’s a demand for instruments now," he says. "Music schools keep growing, and there are many new ones. I talk to the players auditioning for the symphony here [in the San Francisco Bay Area], and the competition is incredibly intense. They need every edge they can get: the best instrument they can get, and the best adjustment." James McKean, Strings’ corresponding editor and a maker and dealer in New York City, agrees that demand is high and notes that he is "amazed" at the prices being paid for modern Italian instruments, which get increasing attention as older instruments become harder to find. In nearby Philadelphia at William Moennig & Son, partner Philip Kass also notes that the "hot spots continue to be Italian instruments and French bows." McKean, however, adds that high-end contemporary instruments are also in great demand. "I have seen a drastic shift in attitude in the past ten years. People are not only willing to look at new instruments, they ask for them." There’s been a change of attitude about the student-instrument lines as well: China is increasingly a player in that market. Robert Cauer says that, only a few years ago, products from Chinese workshops were universally scoffed at by U.S. dealers, who preferred to sell better-quality student instruments from long-established regions such as Mittenwald. "But I don’t think Germany is laughing anymore," says Cauer. "It’s less expensive for me, as a dealer, to get instruments of similar quality from a Chinese wholesaler than direct from a German workshop." Another major change currently under way is the rise in on-line instrument auctions. Will the Internet be the instrument marketplace of the future? Opinions vary widely. Nearly everyone discounted direct, person-to-person sales made on sites such as eBay. "I’ve been watching eBay for a long time," notes Todd French, who heads the instrument department at Butterfield & Butterfield in Los Angeles. "The market has really slowed down there as far as musical instruments are concerned. People are feeling burned by inexperienced sellers." But the auction houses themselves are flirting, to varying degrees, with on-line sales. That’s no surprise coming from Butterfield & Butterfield, since the house was recently acquired by eBay. But others are joining in as well. Sotheby’s, for instance, has taken full-page ads announcing its on-line auction presence (at www.sothebys.com) in major newspapers. Tim Ingles is quick to note that live Internet bidding may become more important for some Sotheby’s departments than for musical instruments. "For the upper end of the market, I don’t feel that the Web is a suitable way of selling," he says honestly. Instrument sales are, he explains, "very much a live experience, very touchy-feely, very physical. And the concern is that you spoil the atmosphere in the saleroom because you have to wait for some eight seconds for the Internet bid to come through, so you don’t get that amazing bustle that makes an instrument sale so special." Skinner will include on-line bidding in its next sale on May 7. Bidders will be able to place offers on-line at skinner.lycos.com before the sale, then up their offers by telephone during the live sale itself. "I still have serious doubts about buying things totally on-line," concedes Bonsey. "I think that we’re going the right way in combining on-line capability with the live viewings and the regular auction. It’s really important that players be able to see and feel and hear the instruments." Christie’s, for its part, currently has on-line viewing of instruments but no Internet bidding. For Bonhams and Phillips, it’s not even in the works. "You’re never going to replace the theater of an auction with a screen," says Phillips’ Scott. He predicts that, ultimately, the Internet will simply provide another method of bidding, as the phone and fax have already done. But some businesses are banking on more of a sea change. November saw the first sale by Tarisio, an instruments-only auction house based in Boston. It could be argued that Tarisio is really something more like an on-line dealership; it is run by experienced dealers and does not actually exist as a physical building. (And it’s no secret that, for these reasons, personnel at some of the traditional auction houses aren’t pleased that Tarisio is known as one as well.) Christopher Reuning, of Reuning & Son Violins in Boston, and Dmitry Gindin, of Gindin & Gindin in New York City, are the dealers who launched Tarisio; they collect the instruments, provide the market expertise, and work with Jason Price, who is the company’s Web expert. Because it has no auction-house infrastructure to support, the trio charges low commission rates. It began assembling instruments from private consigners during the summer, and, in November, Tarisio staged a live viewing for three days in Boston, just as Skinner’s traditional sale was going on across the street. Afterward it took offers on-line at www.tarisio.com from numerous bidders all around the country. The sale’s highlight was a 1760 violin made by Ferdinand Gagliano, with the original scroll by Joseph Gagliano, which went for $65,000. "That’s a pretty good sign that people are willing to trust the Internet," remarks Price. "And," adds Reuning, "we reached a much broader market because of its being on-line than we would have otherwise." Reuning touts on-line auctions as the "wave of the future," saying their format is more accessible to the general public and cuts down on the intimidation factor so famous in auction rooms. But everyone, Tarisio included, agrees that the sales must incorporate live viewings if buyers are to be comfortable with on-line bidding. It’s too early to tell whether the Internet will ultimately take over instrument auctions or simply provide yet another way to place a bid. Either way, it does provide an opportunity for more players to research their options, both at auction and at retail. And, says Reuning, "anything that opens up the market, and gives players more information and more options, is a positive thing for the market in general." —Mary VanClay
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