A Boston-inspired consignment of antique furniture has sold for a record-breaking $3.9 million at a Boston auction house.
The sale, of the first-ever Boston-made furniture set in a consignment sale, was held on Friday in New York.
Auction house, Ritz & Adler, said the collection was the first in its $1.2 million sale history.
The collection of six antique chairs, six antique clocks and six antique clock dials, each with a serial number, was part of the Ritz collection that opened in 2015 and sold for $1 million.
It was the most expensive consignment ever in the US, and Ritz said the winning bid was more than double that amount.
The first-hand collection was given to the National Museum of American History.
It included a pair of vintage black leather chairs, an antique clock with a brass dial and a pair from a 1930s collection of pocket watches.
“The history and passion for the American way of life that we were given is what was very appealing about this collection,” said David M. Ritz, who owns the Riz, who is the managing director of the New York-based Ritz Auctioneers.
Museum officials said the museum was interested in acquiring more items from the collection and wanted to be sure they were as accurate as possible.
“The Museum has a long history of collecting, and we are excited to share this rare and valuable collection with the public,” said James A. Mink, director of collections and collections management at the museum.
Mr Ritz says the items were part of an auction that went on for more than a decade.
Consignment sellers have been a hallmark of the auction house’s business, with the collection of $1 billion of pieces of furniture and antiques being auctioned in recent years.
But the Boston-centric collection was different from most consignments.
For one thing, it was never meant for public display.
It was bought for $3,900 at a New York auction house in 2004.
In 2012, it went for $15,000 at a Sydney auction house and then sold for about $5 million in 2013 at the Ritchey auction house, which also is known for its vintage furniture.
“We are excited that we have this incredible collection to share with the world, and the Boston location is a perfect location for it,” Mr Ritz added.
Ritz &s; Adlers’ David Ritz bought the collection in 2004 for $5,900.
He said it had a great history and a unique quality.
His father, who was a banker and an accountant, had worked for Ritz for more years than he could remember.
At the time, he was selling items to the bank and other clients, but it was not until 2008 that the family began to realise they were in for a treat.
David Ritz had been buying the same items for years.
“The pieces that he sold were great, but the ones I picked up were just wonderful,” he said.
They were from the early 1900s and the early 1960s, and they were not all the same size.
From that point on, he began to build a collection that would include everything from antique clocks to watches, and now, with this new collection, he has everything he wants.
More to come.