Home > The Beat Goes On >Poppmeier sale part two: wrap-up
Sat, Apr 6th, 2019 10:36:46 AM
Topic: Poppmeier sale part two: wrap-up

Lot 35 sold for 42,000 euro hammer price

Anybody can, and we are sure some will, interpret and spin yesterday's sale results as they please.

Since circa 84% of the 91 lots found buyers it might seem like a huge success to many.

Also the fact lot 28 sold for 22,000 euro ( $24.870 plus 28% premiun total 28,160 euro $31,833); lot 32 sold for 38,000 euro ($42,952 plus 28% premuim total 48640 euro $54,978); and lot 35 sold for 42,000euro ($47,488 plus 28% premium total 53760 euro $59,360) can make it seem this was a successful outing.

But the lustre on that shine fades to black when most of the rest sold below 3,000 euro ($3,392) plus premium msking any thoughts hyping this was a success complete rubbish

These results might have made some pocket-change for detlef maltzahn, rippon-boswells auctioneer and owner, but they definitely are a huge loss for Herr Poppmeier.

Poppmeier is a very, very rich man whose fortune is one of the largest in Austria. He made his money as one of the principal owners of what is arguably the largest retail food marketing chain in Austria, and in fact central Europe.

So what happened at this sale is meaningless, financially, to him.

However the reality he paid far, far more for every kelim rippon-boswell liquitated in the two sales of his collection -- huge sums like try 30,000 60,000 euro for a number of them and 10,000 20,000 euro for many, many others justifies saying with no exggeration he lost his shirt.

In this light no one with a brain can possibly believe this was anything but a disaster. Nor could they make any such comment, in print or in private (hello that rag hali)

RKs previous comments underlined the fact collectors like Poppmeier, Vok, Alexander, rudnick, and others we can name, made terrible investments in their rug collections. The reason was simple they stupidly trusted greedy dealers, and often their own inadequate knowledge and expertise. Not only did they not get any return on the original cost, plus repairs, etc of their purchases, they did not even come close to getting back what they paid, even after decades of inflation.

This is a typical result most collectors, not only in the rug and kelim game, have experienced.

Herr Poppmeiers expert was Konzett, who is now long out of business. He, like udo hirsch, franz salier, garry muse, bertram frauenknecht, jurg rageth and others took clients to the cleaners, as the results of this and other past auctions, and private resales, of Anatolian kelim prove in spades.

Sorry but we are not going to waste any of our time dissecting the results of this sale. Nor will we bother to demonstrate why lots 28, 32 and 35 are not going to hold their value, forget about being capable to return any eventual upside, to their paddle-waving purchasers.

We will, however, repeat we seriously doubt any Anatolian kelim buyer at Poppmeiers two sales, or Voks four sales, will ever escape the same fate the former owners of these weavings experienced.

And please do not bother to tell us anyone who buys an old Anatolian kelim as a collector does so to appreciate its art.

This is hogwash because every last one of them would never have opened their wallets if they knew they would take a Poppmeier or Vok bath and lose 50% or more.

Plus remember this is not mentioning the proven reality not one lot at these sales is genuine art.

They might be pretty, with nice colors, but they are all nothing than at best craft and copies. Not one honestly deserves to be called art.

Heres the money ball: The art of the Anatolian kelim is indelibly connected to history and an ancient weaving culture.

Do not believe us? Go read and study our Anatolian Opus. Its all there in irrefutable black and white with lots of color pictures.


Nuff said

Author: jc
Sat, Apr 6th, 2019 10:35:03 AM

Well based rumors have it that one of the major buyers at the Poppmeier sales was none other than Philip Konzett, the son and partner of Konzett senior who sold Poppmeier most of the kelim in the collection.

This frankly appears to us to be worse than a bad joke.

Why? Well just for starters after charging Poppmeier huge prices for kelim that rippon-boswell than sold for less than 50% or more Konzett is buttering up new buyers to suffer the same fate.

Sure, sure, Konzett or anyone else can try to state buying them now is a bargain but this logic is as faulty as those "killing for peace" or "we had to destroy the village to save it" Vietnam War era memes were.

It also proves how gullible and ignorant most carpet collectors are, and how greedy and duplicitous carpet dealers like Konzett are as well.

We are sure the 'investment' angle was an important and major part and parcel of every last one of the buyer's decisions to purchase at tje Poppmeier sales.

All we can say is no matter how discounted any purchase at these sales was compared to what Poppmeier paid there will be little to no upside return on investment no matter how long they might hold them.

In fact, we are not shy to say their chances of even getting back the purchase price will be at best chancy.

Once more caveat emptor not faith and hope should have been the mantra.

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