Sotheby’s Sets a Record for American Silver at Auction ~ Bowl Sells for $5.9 Million

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An Important American Silver Punch Bowl, Cornelius Kierstede, New York, 1700-1710 (est. $400/800,000) Sold for: $5,906,500. Photo: Sotheby's.

NEW YORK,
NY.-
A new auction
record for American silver was set atSotheby’swhen a Silver Punch Bowl by Cornelius
Kierstede, made in New York between 1700 and 1710, sold for an astonishing
$5,906,500.
With a pre-sale estimate of $400/800,000 auctioneer
David Redden opened the bidding at $275,000 and almost instantly a bid of
$500,000 was called out by Ian Irving of Ian Irving Ltd.
As many as six
different bidders raised their paddles, but at around $3 million the battle was
reduced to two determined clients, an anonymous gentleman seated in the room and
New York dealer S.J. Shrubsole. The competition continued for several minutes
before the winning bid was cast by the anonymous purchaser in the room; bringing
the gavel down to rousing applause. The final price of $5.9 million is
more than seven times the previous record for American silver, and is the second
highest price ever paid for any piece of silver at auction.