Sawbuck Expands to Phoenix

July 10, 2010 By Leave a Comment

WASHINGTON, July 9 /PRNewswire/ — Online real estate broker Sawbuck Realty (www.sawbuck.com) today expanded into the Phoenix metropolitan area and partnered with Arizona residential real estate company Russ Lyon Sotheby’s International Realty, bringing Sawbuck customers local expertise and unmatched customer service. Phoenix-area homebuyers now can use Sawbuck.com to search for homes for sale and research recent sales; and the company’s mobile site (m.sawbuck.com) from any web-enabled smartphone when on the go.

“Sawbuck delivers exactly what Phoenix real estate consumers need. Today’s consumer starts their real estate search online, but the nuts and bolts of the transaction still must be done offline,” said John Vatistas, co-owner of Russ Lyon Sotheby’s International Realty. “Sawbuck recognizes this reality by giving consumers unfettered access to housing data on their website, and then connecting them with our leading, full-service agents when they are ready to start touring homes.”

Sawbuck simplifies the home buying and selling process, without asking customers to compromise on either service or cost. Consumers start their home search on Sawbuck.com, where they can search by property type, neighborhood or address to find homes for sale, local market stats and recently sold properties. In Phoenix, a Sawbuck advisor then connects buyers with experienced, local real estate agents at Russ Lyon Sotheby’s, and streamlines their transactions.

“We’ve been told we are crazy to continue to expand in this volatile real estate market. However, like any industry, the successful companies have the infrastructure in place to deliver in the interim and when demand heats up. With Russ Lyon Sotheby’s we are confident we have the best partner for now and in the future,” said Sawbuck CEO Guy Wolcott.

Also today, Sawbuck launched a new version of its home page that highlights daily real estate changes for each metro area it covers, including:

* What Can You Buy for the Money: View a slide show of 15 similarly priced homes from around the city, with a different price point every day. Consumers easily can switch between cities to see what they can get for their money across the country.
* Top Five Lists: Check out a different list every day such as top five local markets with the lowest inventory, highest prices or fewest days on market.
* Most Popular Listings: Be in the know and find out which homes get the most daily views.

How Sawbuck Works

Sawbuck connects buyers and sellers with top local real estate agents, streamlines their transactions, and saves them thousands of dollars up front and hundreds more every year. Buyers who work with Sawbuck get a below-market mortgage from reputable lenders such as Bank of America.

Sawbuck is the first real estate broker to establish mortgage alliances not to profit, but to save buyers money. The company subsidizes every mortgage, driving down the interest rate, and offers a $1,000 guarantee if a customer finds a better mortgage deal.

Phoenix Buyers Save $14,870 with Sawbuck

Throughout June 2010, Sawbuck compared the 30-year fixed mortgage rate available to its customers with the national average rate as reported in Bankrate.com’s weekly survey of lenders, a reliable indicator of mortgage rates for the last 20 years. The average Sawbuck rate was 0.37 percent better. On a $400,000 mortgage, that’s a savings of $91 per month, or $32,843 over the life of the loan.

In June 2010, 9,063 Phoenix-area homes sold with an average sales price of $181,105. If those buyers used Sawbuck, they would have saved $41 a month, totaling $14,870 over the life of the loan.

Sawbuck sellers receive a 20 percent refund of the listing commission at closing; for a $500,000 house that would normally pay a seller’s agent commission of three percent, the savings would be $3,000.

Since launching in January 2008, Sawbuck has completed more than $50 million in real estate transactions in the eight markets it serves.

About Sawbuck

Sawbuck Realty (www.sawbuck.com) is an online real estate broker that combines an industry-leading website with an award-winning, consumer-friendly business model. The company connects buyers and sellers with top local real estate agents, streamlines their transactions, and saves them money at every turn. Buyers who work with Sawbuck’s agent partners get a below-market mortgage, saving thousands up front and hundreds every year. Sellers receive a 20 percent refund of the listing commission at closing. Sawbuck’s site, service and model provide radical transparency and consumer value that is unique in the world of real estate. Headquartered in Washington, D.C., Sawbuck currently serves the Boston, Chicago, Dallas-Fort Worth, Phoenix, Providence, R.I., San Francisco Bay Area, Southern California and Washington, D.C. areas. The company will expand into Philadelphia and Houston in the coming months. To stay up to date on Sawbuck, visit our blog, http://www.sawbuck.com/blog, or follow us on Twitter, @sawbuck.

SOURCE Sawbuck Realty

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Truman Capote”s Brooklyn Heights mansion on the market for record $18M

May 11, 2010 By Leave a Comment

New York, May 11 (ANI): Late American author Truman Capote”s home, in Brooklyn Heights, is set to become the most expensive townhouse in the borough”s history, after it was put on the market for 18 million dollars.

The mansion on 70 Willow St., which has 11 bedrooms and fireplaces and where Capote wrote his most famous books, has been put on the market for just the third time in 70 years.

The standing record for a Brooklyn house is just under 12 million dollars, set at the dizzying height of the real estate boom.

Realtors say the lavish, 18-room Willow St. home is expected to top that, and that brokers have already lined up several showings for international buyers and well-heeled locals wanting a shot at the historic home.

With parking for four cars, a mural copied from the Kennedy White House, a back porch and a garden like something out of a Southern estate, the mansion is touted as the finest house in the borough”s finest neighbourhood.

“It”s like living in a country estate in the middle of New York City,” the New York Daily News quoted Karen Heyman, the Sotheby”s broker selling the property.

“It takes your breath away the minute you walk in,” she described.

Built in 1839 and now in the hands of a media entrepreneur, the house was owned in the 1950s by Broadway art director Oliver Smith, who designed the famous sets for “Guys and Dolls” and “West Side Story”.

Capote said he got Smith blitzed on martinis to persuade his friend to rent him the house”s garden apartment from 1955 to 1965.

There, amid the grand Greek Revival columns and crystal chandeliers, the eccentric writer dreamed up iconic New York party girl Holly Golightly from “Breakfast at Tiffany”s”.

He also wrote “In Cold Blood”, his famous “non-fiction” novel, at the mansion.

Capote would throw extravagant parties when Smith left town, often bragging that he owned the entire property. (ANI)

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Edouard Manet’s self-portrait to fetch £30 million at auction

May 11, 2010 By Leave a Comment

London, May 11 (ANI): A self-portrait by Edouard Manet, the father of Impressionism, may raise as much as 30 million pounds at an auction.

Self-Portrait With A Palette is one of the two existing works that Manet had painted of himself. The other is at the Bridgestone Museum of Art in Tokyo.

The masterpiece, currently owned by edge fund billionaire Steven A Cohen, shows Manet in a tailored jacket.

Its previous owners include collector Auguste Pellerin in the early 1900s and Wall Street figure John Loeb, reports the Telegraph.

Charles Moffett, Sotheby”s executive vice president, described the painting as ””not only the greatest Manet portrait in private hands, but also one of the very greatest self-portraits in the entire canon of art history””.

Also, Melanie Clore, co-chairman of Sotheby”s Impressionist and Modern Art Department worldwide, added: ””At a time when there is such enormous demand for museum-quality paintings by the Impressionist masters, it is exciting to be able to bring this extremely rare painting to auction.””

The portrait will be auctioned at Sotheby”s Impressionist and Modern Art sale in London on June 22. (ANI)

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Unknown couple’s 1850s watercolour ”blog’ sold for £3,750

May 10, 2010 By Leave a Comment

London, May 10 (ANI): Two watercolour journals of an unknown couple’s European holidays have raked in a huge 3,750 pounds at an auction in London.

The exquisite watercolours of European beauty spots were painted by a Victorian lady as she and her husband toured the Continent.

The books include beautiful pictures of the Swiss Alps, Bruges in Belgium and the castle at Baden in Germany.

While the identity of the couple is not known, the journals show that they toured Europe twice, in 1850 and in 1853.

And the two journals sold for 3,750 pounds at Sotheby’s in London.

“She was a talented amateur artist. We don’t know who she was, but she went with her husband and wrote that they were going to the German baths because of his ‘rheumatoid affections,’” the Daily Express quoted the deputy director of books and manuscripts at Sotheby’s, Richard Fattorini, as saying.

In 1850 their tour began in Brussels and included Bruges, Cologne, Wiesbaden, Frankfurt, Homberg, Heidelberg, Baden, Lucerne and Geneva.

In 1853 the couple began in ­Boulogne and visited places such as Amiens, Paris, Versailles and Reims. (ANI)

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Rare blue diamond sold for $6m

April 8, 2010 By Leave a Comment

A rare 5.16-carat blue diamond sold at auction for $US6.4 million ($6.8 million) in Hong Kong on Wednesday, confirming Asia’s fast-growing taste for the precious stone.

London’s famed Moussaieff Jewellers paid more than the expected $US5.9 million price for the pear-shaped stone, the first blue diamond from the celebrated De Beers millennium jewels collection to appear at auction.

“The price was above the high estimate,” a spokeswoman for auction house Sotheby’s said.

But the world per-carat record for a blue diamond remains the $US10.5 million paid by a Hong Kong property tycoon for a seven-carat blue diamond in Geneva in May last year.

In December, a five-carat chickpea-sized vivid pink gem set a per-carat world record price for a diamond when it fetched $US10.8 million at an auction in Hong Kong.

This week’s collection, displayed in London’s Millennium Dome in 2000, consists of 11 high-quality blue diamonds from the Premier Diamond Mine of Transvaal, South Africa.

It was reported the mine could produce only one blue diamond of such high calibre each year.

Sotheby’s said gem sales in Hong Kong were on the rise. The city has overtaken New York to become the company’s second biggest market after Geneva.

A spokesman for the auction house, Terry Chu, said diamonds were particularly appealing to new Asian buyers because of their stable prices and assured quality.

“There have been a lot of new diamond buyers from mainland China, Hong Kong, Singapore, Taiwan and elsewhere in the region,” Mr Chu said.

“I think after the financial crisis, the Asian buyers realised that the prices of diamonds are relatively stable compared to other types of auction items.”

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Rare Warhol self portrait may raise up to £10m at auction

March 20, 2010 By Leave a Comment

London, Mar 20 (ANI): A rare self-portrait of Andy Warhol, which the artist painted less than a year before his death, could rake in a whopping 10 million pounds in auction.

Currently owned by the designer Tom Ford who acquired the work from the artist”s estate in 1998, the painting makes part of the artist”s final series of Self Portraits, which is known to be the most important of his career.

“I have always had an extensive art collection and own many Warhols,” the Telegraph quoted Ford as saying.

“I am constantly buying and selling art to update my collection,” he added.

The portrait will go on sale at Sotheby”s in New York on May 12 this year.

The series was Warhol”s last prior to his death in February 22 1987.

Measuring 108 x 108 inches, the acrylic and silkscreen ink on canvas was based on Polaroids taken by Warhol during the 1970s.

The picture sees the artist wearing his signature “fright” wig.

Warhol died in New York aged 58 shortly after having a gall bladder operation.

The painting will be shown in London, along with other highlights from the May auction, from 15 – 19 April. (ANI)

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Madoff hires prison consultant to help him find best possible jail

July 5, 2009 By Leave a Comment

London, July 5 (ANI): Bernard Madoff has hired a veteran prison consultant to help him to find the best possible jail in which to serve his 150-year sentence for Wall Street’s biggest fraud.

After his sentencing this week Madoff, now Prisoner No 1727-054, met Herb Hoelter, of the National Centre for Institutions and Alternatives, whose previous clients include the jailed Sotheby’s chairman Alfred Taubman and the financiers Michael Milken and Ivan Boesky.

The draconian maximum sentence imposed by the judge means that Madoff, 71, will be assigned to a tougher category of prison than most white-collar criminals, The Times reported.

He could be forced to mingle with murderers, rapists, drug-dealers and white supremacist gangs with a hatred of Jews. Madoff is Jewish.

He could even find himself incarcerated with terrorists in the infamous “Supermax” jail in Florence, Colorado, the paper reported.

“He was incredibly disappointed. He knew he was going to spend the rest of his life in prison. I don’t think that was ever an issue,” Mr Hoelter told The Times. “But it’s patently unfair to cast him as a symbol of all evil.”

Federal convicts are assigned to minimum, low, medium, high-security prison, or even the sole Supermax facility, by the US Bureau of Prisons using a score-card known as Form BP-337 to calculate an inmate’s “Security Point Total”.

A first-time non-violent white-collar criminal convicted in a US federal court would normally qualify for incarceration at a minimum-security “prison camp” with easygoing rules and no perimeter fence.

But the length of Madoff’s jail term means that he has no hope at all of going to one of them.

“Independent of the length of his sentence, he would score out as a minimum-security inmate,” The Times quoted Hoelter, as saying. “But because of the length of his sentence, they apply a ‘public safety factor’ and would never put him in a minimum security facility.” (ANI)

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Jogen Chowdhury, Nandalal Bose highlights of Sotheby’s India sale

May 21, 2009 By Leave a Comment

New Delhi, May 21 (IANS) A 1979 work by the master of modern Indian art Jogen Chowdhury – painted on paper in ink and pastel colours, and titled ‘Day Dreaming’ – will be the highlight of the annual sale of Indian art by Sotheby’s in London June 16.

The work is estimated at 80,000-120,000 British pounds, a press communique by Sotheby’s from London said Thursday.

The artwork, sources at Sotheby’s said, is in the tradition of the Bengal ‘pat’, a style that evolved in the state between the 18th and 19th century to represent the folk traditions, socio-cultural and religious milieu of the state. The art work, which stands out for its fluid lines and rounded contours – is of a woman who day dreams with a happy smile on her face.

‘Day Dreaming’ is part of a series of works that Chowdhury painted between 1968-76 titled, ‘Reminiscences of a Dream’, that capture symbols and figures from a world of dreams floating against a dark background that are devoid of place and time.

Chowdhury, who trained in both Kolkata and Paris, is known for his ink works. ‘Day Dreaming’ has never featured at an auction before and is one of the largest works of its type to have come to the international market.

Another important work is a series of four ink and wash paintings by Nandalal Bose, Untitled (Ocean Dune), Untitled (Where Cranes Nest), Untitled (Hills Ablaze), Untitled (Two Sal Trees), drawn between the late 1950s and early 1960s. The quartet, depicting the trajectory of Indian culture over the decades, is estimated at 10,000-15,000 pounds.

An untitled painting by Manjit Bawa which featured on the cover of the first issue of the Art India magazine in 1996 is expected to rake in 770,000-100,000 pounds.

The cache also includes three Mughal miniatures from the Ehrenfeld Collection belonging to Lois Ehrenfeld estimated at 88,000 pounds, 110,000 pounds and 112,000 pounds respectively, the release said.

Two of the miniatures are portraits of Prince Sulaiman Shikoh and his father Prince Dara Shikoh, who was the eldest son and heir apparent of Shah Jahan, while the third is a genre scene of a prince meeting a holy man, which closely follows the style of the Mughal artist Govardhan, who was often commissioned by Dara Shikoh.

The 86 lots are expected to bring in nearly 11.2 million pounds.

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Flawless blue diamond sells for record œ6.2m at auction

May 13, 2009 By Leave a Comment

London, May 13 (ANI): A flawless blue diamond weighing 7.03 carats has fetched a record 10.5 million Swiss francs (6.2 million pounds) at auction, Sotheby’s said.

According to Sotheby’s, the selling price of the rectangular-shaped blue stone is the highest price paid per carat for any gemstone at auction.

The celestial stone, mounted on a platinum ring, was found in Cullinan mine in South Africa last year, and was the centrepiece of Sotheby’s semi-annual sale in Geneva, reports The Telegraph.

The anonymous phone bidder, who won after a 15-minute war, has yet to name the gem.

“I was a little bit concerned in this market,” said David Bennett, head of jewellery for Sotheby’s Europe and Middle East.

The previous record price for a fancy vivid blue diamond was 5.2 million pounds, including commission, for a stone weighing 6.04 carats at sale in Hong Kong in October 2007, also by Sotheby’s. (ANI)

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Journal from Darwin’s ship HMS Beagle fetches £97,250 at auction

May 8, 2009 By Leave a Comment

London, May 8 (ANI): A journal from HMS Beagle, the ship which Charles Darwin voyaged on, has fetched 97,250 pounds at an auction.

The journal was kept by a commanding officer on the ship, which was the vessel that Darwin used during some of his most important journeys that helped him form his evolution ideas.

The journal details the end of its first hydrographic surveying voyage to Patagonia in South America, reports The Telegraph.lso on auction were 1930s photos of the royal visit of Princess Alice to Bahrain and Saudi Arabia.

Sotheby’s specialist Richard Fattorini said: “The visually stunning and historically important album sheds light on a turning point in Anglo-Saudi relations.

“Princess Alice’s trip was the first of its kind to the region and it coincided with the hugely important discovery of commercial quantities of oil in the region.” (ANI)

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London auction of Versace estate beats expectations

March 20, 2009 By Leave a Comment

London  – An auction of late Italian fashion designer Gianni Versace’s private belongings beat all expectations as sculptures, chandeliers, paintings and furniture were bought for a total of 7.4 million pounds (10.39 million dollars), auction house Sotheby’s said.

The 12-hour sale, which ended late Wednesday, continued a trend set by the auction last month in Paris of the private possessions of late French designer Yves Saint Laurent and showed that investment in art was regarded as a “safe alternative” by wealthy buyers in the current recession, analysts said.

Although not comparable in scale and genuine artistic value with the Saint Laurent auction, which netted a record 262 million dollars, the sale of more than 500 items from Versace’s Villa Fontanelle on Lake Como far exceeded its pre-sale estimate of 2 million pounds.

“We are absolutely thrilled with the extraordinary results of today’s sale and the high level of lots that achieved prices well above their pre-sale estimates – in some cases 10-fold,” Sotheby’s Mario Tavella said.

The prize piece at the auction, a pair of life-size casts of Antonio Canova’s wrestlers in plaster, which dominated Versace’s private bedroom, sold for 433,250 pounds, compared with its pre-sale upper estimate of 40,000 pounds.

Among other highlights of the sale were a pair of Italian cherry wood and bronze-mounted breakfront book cases by Karl Roos, which fetched just over 1 million pounds, compared with pre-sale high estimates of 220,000 pounds.

Formerly housed in Versace’s bedroom, the bookcases were originally commissioned in 1814 by Princess Pauline Borghese, sister of Napoleon Bonaparte, for the library at Palazzo Borghese in Rome.

British art critic Godfrey Barker said the auction confirmed a “definite trend” showing that “powerful names that live on in memory add value to items.”

The sale underlined a “very clear global trend” of wealthy buyers diverting their cash from banks and equities into art.

The items sold included furniture, paintings, silver, china and marble busts, which decorated the Versace villa in Moltrasio, a venue linked to the glamour of weekend parties attended by celebrities including the late Princess Diana and musicians Sting and Elton John.

Versace, who was shot to death in 1997 in Miami, owned several homes but used the villa near Milan to relax.

A spectacular 19th century gilt-and-bronze chandelier sold for 47,000 pound, fetching more than twice the estimate of 20,000 pounds, the auction house said.

A Venetian double wall mirror of etched glass was sold well above its estimate for 43,000 pounds, while a staggering 97,250 pounds were paid for a set of British-made roundels depicting classical figures, exceeding its estimate of a maximum of 20,000 pounds by nearly five times.

Marble busts of Roman emperors, a bronze statue of Napoleon, walnut tables and mahogany chairs were among the items snapped up by buyers keen to be associated with the world of fashion.

Dozens of small oil paintings were sold, but a painting by 18th century German-born artist Johann Zoffany, billed as the star lot, was withdrawn from the sale. Press reports said that descendants of Major George Maule, the British officer depicted in the painting, had contacted authorities claiming that it had been stolen 30 years ago – 15 years before Versace bought it. (dpa)

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Versace’s possessions fetch over 7M pounds

March 19, 2009 By Leave a Comment

London, Mar 19 (ANI): An auction of murdered fashion designer Gianni Versace’s possessions has raised over 7 million pounds.

Items from his Villa Fontanelle home-including huge classical statues of naked wrestlers, furniture and paintings-went under the hammer on March 18.

A spokeswoman for Sotheby’s in New Bond Street, central London, where the auction was held, said that the pre-sale estimate was only 2.8 million pounds.

But many of the items went on to fetch over 10 times their expected price.

More than 500 people registered to bid in the auction.

“With heated bidding in today’s auction extending beyond 12 hours, the day sale turned into an evening sale too,” the Telegraph quoted Mario Tavella, deputy chairman of Sotheby’s Europe, as saying.

“From the recreation of the villa’s rooms in Sotheby’s galleries to the hugely enthusiastic bidding in the saleroom, this event epitomised the glamour and vision of Gianni Versace and was a fitting way to mark the sale of his most beloved – and until now very private – Lake Como collection.

“We are absolutely thrilled with the extraordinary results of today’s sale and the high level of lots that achieved prices well above their pre-sale estimates – in some cases tenfold,” he added.

And the item that went for the highest price was a pair of Italian cherry wood bookcases from Versace’s bedroom, which sold for 481,250 pounds and 601,250 pounds respectively. (ANI)

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Brad Pitt, Natalie Portman to star in film adaptation of ‘Important Artifacts’

March 19, 2009 By Leave a Comment

Washington, Mar 19 (ANI): Brad Pitt and Natalie Portman are all set to star in the big screen adaptation of the new Leanne Shapton book.

The book titled ‘Important Artifacts and Personal Property From the Collection of Lenore Doolan and Harold Morris, Including Books, Street Fashion and Jewellery’ was just published by Farrar Straus and Giroux.

Paramount Pictures has roped in the two actors after it won an auction for the book rights on March 17.

Pitt’s Plan B, along with Portman’s Handsomecharlie Films banner, will produce the film.

The book takes the form of a Sotheby’s-like estate auction catalogue, with 325 entries and photographs depicting items that reveal the private moments and the rise and fall of a four-year relationship between the fictitious couple Hal Morris, a 40ish photographer, and Lenore Doolan, a New York Times food columnist in her late 20s.

The project will be developed as a romantic comedy. (ANI)

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World’s costliest rug from Baroda expected to fetch 20 million dollars

March 12, 2009 By Leave a Comment

Doha, Mar.12 (ANI): The world’s most expensive rug is expected to fetch 20 million dollars when it goes under the hammer later this month, The Telegraph reports.
The Pearl Carpet of Baroda was created using an estimated two million natural seed pearls farmed from the Arabian Gulf.

It has a starting price of five million dollars and will become a record breaker if it sells, beating the 4.45 million dollars paid for a silk Persian rug in New York, at Christies, in 2008.

Sotheby’s will handle the sale of the spectacular rug and the auction will be the first for their new offices in Doha.

Commissioned by the Maharaja of Baroda in India in the 18th century, the Pearl Carpet is also embossed with gold set diamonds, rubies and emeralds in their hundreds, the centre piece of the exquisite rug are three large round rosettes put together using table cut diamonds set in silvered gold.

Originally to be gifted to the tomb of the prophet Mohammed in Medina, the Baroda rug never made it to its intended destination as “Gaekwar” Kande Rao, the Maharaja of Baroda, died before the rug could be delivered.
Designed to echo a similar rug that exists in the Taj Mahal in Agra, the Baroda example has remained in the Indian princely family since the Maharaja’s death, briefly appearing at exhibitions such as the 1985 landmark exhibition ‘India’ at the Metropolitan Museum of Art in New York.

Mary Jo Otsea, Worldwide Director of Rugs and Carpets at Sotheby’s says: “It is fitting that a historic object as magnificent and unique as the Pearl Carpet of Baroda is a major highlight of our inaugural series of auctions in Doha. The carpet has never appeared at auction before and the sale therefore represents an unparalleled opportunity to acquire an extraordinarily significant work of art.am delighted that Middle Eastern collectors will be able to view this stunning work.” (ANI)

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