In art, antiques and collectibles headlines: a little of each. Conflict over an Edvard Munch painting casts its shadow on Sotheby’s, as the auction house, along with Christie’s, gears up for a stretch of important sales in New York. A famous cello fails to entice high bidders, a rare stamp almost sets a world record and Scandinavian auction houses take a hit. Also: a look at some of the best campaign buttons.

From The Art Newspaper:
Exclusive: “irrevocable bid” has pulled out

An investor who was said to have put an “irrevocable bid” on the Edvard Munch painting, “Vampire, 1894,” (estimate $30 million) has withdrawn his bid because of uncertainty of the sale, according to The Art Newspaper. The Munch painting was to go under the hammer as part of the first day of Sotheby’s impressionist, modern and contemporary sale in New York. Sotheby’s denies that there was an irrevocable bid on the painting, though the sale’s catalog lists it as such.

Sotheby’s introduced the irrevocable-bid option for the first time at this sale. With this arrangement, a bidder agrees to bid up to a certain amount. If bidding exceeds that amount, said bidder receives a portion of the difference between the original bid and the final selling price.

From Reuters:
Art world dreading declines at upcoming key NY sales

All eyes are on the auctions that began Monday after weeks of anticipation that have followed numerous disappointing sales at auction houses the world over. The impressionist, modern and contemporary art sales in New York at Sotheby’s and Christie’s will be the final gauge of just how far the art market has tumbled, and speculation is high that these sales, too, will fail to meet expectations. Sotheby’s has already slashed price guarantees, preparing for lackluster sales. It doesn’t help that estimates were largely made before September when the financial crisis reached full swing.

Two of the biggest paintings up for sale are Francis Bacon’s “Study for Self-Portrait” at Christie’s (estimate $40 million) and Kazimir Malevich’s “Suprematist Composition” at Sotheby’s (estimate $60 million).

From The New York Times:
Highest Pedigree Yields No High Bids for Cello

An almost 300-year-old cello belonging to the family of novelist Ian Fleming failed to receive a bid higher than the reserve, with only one high bid of $1.35 million. The cello, made in 1717 by Antonio Stradivari, was named for Amaryllis Fleming, the half-sister of Ian Fleming, creator of James Bond. It was estimated to sell between $1.48 million and $1.97 million. The auction took place Oct. 31 on Tarisio.com, a Web site for the sale of stringed instruments and bows.

The cello, crafted in Cremona, Italy, is one of only 60 or so Stadivari instruments that still exist. Amaryllis Fleming bought the cello for personal use in the 1960s. Experts cite the poor economy as reason the instrument failed to meet expectations at auction.

From The New York Times:
The Best Buttons of 2008, in One Man’s Opinion

Here’s an article to file away for collectors of political memorabilia—the best campaign buttons from this year’s presidential election. First spotted in 1789 at George Washington’s inauguration, political buttons have come a long way. The Times features a slideshow of notables from both parties.

From The New York Times:
This 3 Cents Has Come a Long Way

A three-cent stamp issued in 1868 sold for a near-record price at auction in New York Oct. 29. An anonymous bidder paid $1,035,000 for the rare stamp, one of only four of its kind in known existence. Its rarity comes from markings on the back, a brief experiment by the U.S. Postal Service to combat fraudulent reuse of the stamps. The four stamps were discovered in 1969 and are thought to be essential to a complete American stamp collection.

From Bloomberg:
Swedish Auction Houses Feel Pinch as Buyers Balk, Prices Slide

Bukowskis, a major auction house in Nordic countries, falls victim to the same pains that other international auction houses are experiencing this season: falling demand and falling prices. Bukowskis was left with some of the most iconic pieces of Scandinavian design, including a Mies van der Rohe’s Barcelona chair, as 30 percent of lots did not sell during a four-day sale that ended Oct. 31. Stockholm Auktionsverk, Bukowskis’ rival auction house, also came up short with only 7 million kronor in sales ($920,000) at their foreign paintings and sculptures sale—less than half of the sale’s combined starting price.

WorthPoint—Get the Most from Your Antiques & Collectibles