Nina West writes at Artfact.com:
A rare Arts & Crafts chair made by Charles Rolhfs and rescued
from the trash made auction history last week. Expected to fetch around
$30,000, it sold for the record price of $198,000.Pulled from
the neighbor’s trash, the chair was given an insurance value of $25,000
by Sam Cottone, president of Cottone Auctions, outside of Rochester,
N.Y., 10 or 15 years ago. The auctioneer’s advice to the owner was to
take good care of it, since its value would appreciate significantly
over time. The owner, living in a trailer home, decided earlier this
year that it was time to sell the chair.Cottone advertised the
chair with the low estimate of $30,000 to $50,000 in hopes of creating
good auction buzz. The battle for the chair among 10 phone bidders and
multiple floor bidders was won by a Washington, D.C., antiques dealer.
It is unclear if he purchased the chair on behalf of a private client
or for his own store inventory.