Hidden Treasure on a Shelf

(click here for Sotheby's letter)

by Judith Levin, for Bartlett & Picarella

For Anita Picarella, a certified fine art and antiques appraiser in Bronxville, NY., the call was fairly routine: a local family needed a furniture appraisal after the death of a last surviving parent and requested her services. She explained that a walk-through would be necessary in order to determine the worth of the home contents. "I spent lots of time doing that walk-through, and wound up charging only a minimal fee, practically pro-bono. I could see that this was a family of modest means with many expenses. " Nevertheless, the rewards were extraordinary.

During the appraisal, Picarella's experienced eye had caught sight of a large pitcher which she recognized as a Liverpool Creamware piece. After appraising the furniture, which was of relatively little value, she directed her own and her clients' attention to the pitcher. "Although I had didn't know how valuable the pitcher might be, I did know it was an outstanding example of this genre. It stood about twelve inches high. I had never seen one that was as beautiful. "

She explained to the family that the piece was perfect in form and condition and it's decorative elements exceptional. "I photographed the pitcher, got permission to take it with me, and told the family that I would research its value and get back to them" Picarella said.

Subsequent research revealed that the designs were documented, in two scholarly texts on this subject (an eagle with a "Peace and Plenty" print was depicted on one side, and the Grand Turk trading vessel which had traveled between England and the fledgling America on the other). The monogram JPM refers to the ship's captain, Joseph P. Moseley who piloted her from 1793-1795 and, in all probability, the pitcher was presented to him by the ship's owner or crew as a presentation piece.

Ms. Picarella consulted with Sotheby's and Christie's auction galleries in New York City. "Christie's told me the worth was between $500-$800," said Picarella. But when she went to Sotheby's, Andrew Chaney who first saw it, and Letitia Roberts, Director of the Porcelain Department, eventually gave her a vastly different reading.

Ms. Roberts called back about two weeks later, greatly excited about her findings. "She had gone on a research campaign," said Picarella, "to find out more about the Grand Turk, vessel, in particular. She had contacted major collectors and museums in her search but was disappointed to hear from Picarella that the piece had little provenance (the pedigree or bloodline of the item). "Ms. Roberts told me she thought there would be a great deal of interest in it." Sotheby's appraisal? "Between five and eight" said Mr. Chaney. "Oh, you mean between five and eight hundred", said Picarella. "No, No! Between five and eight thousand," was his response!

As tempting as it was, Picarella cautioned the family not to go overboard in their expectations. "You never know what will happen at auction," she said, "so be prepared for anythjng - including the possibility that it might not sell at all,"—a possibility she hardly thought likely, however.

The sale took place during Sotheby's Americana week, a premiere event, drawing collectors and dealers from all over the world. "I was there, of course, " said Ms. Picarella. "The room was jammed and the pitcher was one of the first items up.

There was rapid bidding on it from the floor, from the auctioneer's book and from the telephone, simultaneously. In the end, the bidding far exceeded the five to eight thousand dollar estimate.

The hammer price realized actually doubled the higher number, selling for an astonishing $18,400 including the buyer's premium.

"I felt shocked, even though I knew that something like this might happen. After all, there is a track record of comparable items. When you have an item that measures up in quality and condition, you have every reason to believe that it should do as well or better than those sold previously. Still, I was nervous! I've brokered many artworks for clients over the years, but this particular piece was special: I found it unexpectedly; it turned out to be an outstanding example of its kind; and, coming from a family of modest means which was quite unaware of its value, it would benefit them substantially." Although it wasn't the most valuable thing she's ever handled for a client, "...it is considered one of the best of its kind and is also a piece of American history—and that's thrilling."

Anita Picarella has earned impressive credentials in her 20 plus years in the field. A member of the Appraiser's Association of America, she was Westchester County's first boardtested and certified appraiser and is a widely respected specialist in eighteenth and early nineteenth century American furniture and decorative arts. Involved with appraisals only and leaving the buying and selling to others, her opinions are thus freed of any conflict of interest issues, and are relied upon for their complete objectivity.

For the family, of course, this "happening" was something of a fairy tale. A pitcher sits on a shelf for years without anyone realizing its value. In comes an expert who spots it, researches it and makes things happen. Reality, however, is sobering. One needs the good fortune - and the good sense - to find that "expert" in the first place and to be confident of her or his professionalism and integrity.

"Passion" is another key element when looking for appraisers. The appraiser's desire to treat each assignment - large or small, monetarily promising or not - with the same concentration and attention to detail, is paramount. The personal challenge and delight in pinpointing rare items (and therefore, a commitment to the constant search), is indicative, too.

Ultimately, the success of a good find and its subsequent "life" remains a part of the finder's thoughts. Picarella shares a wistful insight here: "My only regret is that I don't know who bought that pitcher; it would be so nice to know."

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