Very strong results for Tiffany Studios lamps at Sotheby’s New York 20th Century sale, June 16, 2010

Tiffany Studios Dragonfly table lamp, Sotheby's New York, lot #4, June 16, 2010

Tiffany Studios Dragonfly table lamp, Sotheby's New York, lot #4, June 16, 2010

Sotheby’s New York held its early summer 20th Century Design sale on Wednesday, June 16, 2010. The sale began with 22 lots by Tiffany Studios, including several important lamps. The results continue a trend that has lasted decades — good Tiffany Studios items are still hot, and getting hotter yearly.

The top lot of the sale was #4, a 17″ blue Dragonfly table lamp — a stunning example on a killer matching Dragonfly mosaic base. Estimated to sell for $300-500,000, it brought $554,500, near the high estimate.

Tiffany Studios 24 inch Peony Border floor lamp, Sotheby's New York, lot #3, June 16, 2010

Tiffany Studios 24 inch Peony Border floor lamp, Sotheby's New York, lot #3, June 16, 2010

The second highest price of the sale went to lot #3, a fine Tiffany Studios 24″ Peony Border floor lamp, with exceptionally nice color. It was estimated to sell for $200-300,000, and sold for over twice the low estimate, bringing a total of $530,500.

The sale began with lot #1, a rare and beautiful Tiffany Studios 26″ variation of the more common Poinsettia decoration. Estimated at only $120-180,000, it quickly set the tone for the rest of the Tiffany items, as it more than tripled the low estimate, bringing a total of $458,500 (see photo below).

For the complete results of the sale, click on the following link. Sotheby’s 20th Century results.

Christie’s New York is holding their 20th Century Design sale on Thursday, June 17, 2010, the day after Sotheby’s. And James D. Julia is holding their Important Lamps and Glass auction in Fairfield, Maine, next Tuesday and Wednesday, June 22-23. I’ll be reporting the Christie’s results on Monday and the Julia’s results next Thursday or Friday.

I just added over 10 Galle vases to my website, 7 Tiffany lamps and 1 Newcomb vase. I’m spending a lot of time this spring adding new items. Please take a look. Click on this link chasenantiques.com.

Please send me your comments or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer you in a future blog.

Tiffany Studios 26 inch Poinsettia table lamp, Sotheby's  New York, lot #1, June 16, 2010

Tiffany Studios 26 inch Poinsettia table lamp, Sotheby's New York, lot #1, June 16, 2010

A day in the life of an antiques dealer

Fine 8½ inch Grueby vase

Fine 8½ inch Grueby vase

I exhibit at shows around the country and one question that is often asked of me is “How do you get these things?” Well, here’s one day in my life that will partially answer the question.

Yesterday, Saturday, was planned in advance. There were three auctions around the country where I was going to bid. That’s usually a simple matter of arranging with the auction houses to leave bids (called absentee bids) or bidding on the telephone. I don’t usually like to leave absentee bids because a dishonest auctioneer can run the bid, which means he will execute the maximum bid, rather than bidding competitively with the audience. An honest auctioneer won’t do this, but even after many years in the business, it’s difficult to ascertain the truly honest ones. I will leave absentee bids at auction houses that have proven their honesty to me.

So far, so good, until a fly got into the ointment. One of the auctioneers changed some of the usual rules. He decided not to permit any phone or absentee bids whatsoever. From a business point of view, that doesn’t seem to make any sense. There are bidders who don’t have the ability or the desire to travel big distances to bid on an item. This auctioneer was closing the door on all bidders around the United States and the world, who were not within traveling distance. That makes even less sense in today’s Internet world, as bidders from remote locations have the ability to find an item and bid on it. Auctions are supposed to be competitive events where the highest bidder gets the item. To be fair, there is something positive to be said for this rule change. Those people who are willing to travel to personally attend such an auction are qualified and determined. After making the trip, they’re not going home empty-handed. They’re going to bid strongly, including on items they didn’t intend to until they showed up in person.

OK, back to Saturday’s plan. My wife and I were willing to drive 4½ hours to upstate New York to attend an auction with six Icart etchings, a Gallé faience vase and a Rookwood iris glaze vase with fish. The logic was that I’m a strong bidder and there was a decent likelihood that I could go home with most or all of these items at good prices. So we left Long Island at 10:45 AM and started driving upstate. At about 11:30 AM, I got a call from auction house #1 and successfully bid on a fine Grueby vase (see photo above), but was forced to pay more than I had originally planned. But the vase is such a nice example that I’m happy to get it.

We arrived at the auction house in upstate New York at about 3:30 PM and viewed the items. They were as represented, so now we had to amuse ourselves until the auction started at 5 PM. Unfortunately there was nothing in the area to do, so we aimlessly drove around until the auction began. In the meantime, auction house #1 called again for me to bid on a very nice Gallé vase. The estimate was $1/1500. I was prepared to bid $1800 plus the buyer’s premium, for a total of about $2100. The bidding began at $500 and I bid $550 and then, amazingly, the bidding stopped. I bought the vase for $550 + buyer’s premium, for a total of $649. ?#%@#&?? I never look a gift horse in the mouth and this was a nice gift.

Louis Icart original etching <i>Bubbles</i>

Louis Icart original etching Bubbles

Back to the live auction. First came the Gallé faience vase, a large early example that ordinarily I would have no interest in. This vase was for collectors of Gallé esoterica, and I don’t know many such collectors, so I wasn’t going to bid much. I was outbid and relieved. Then came the Rookwood vase. Rookwood sales have been few and far between recently, so again I wasn’t going to bid a lot. I was outbid again. Then at 6 PM, the auctioneer began selling the Icart etchings. First up was the best one, Bubbles. I had hoped to buy it in the $1,500-2,000 range. I bid $3,000 and was outbid by a young couple in the back, who paid $3,100 + buyer’s premium, for a total of $3,472. Disappointment! Pals, another good one came up next. Again outbid by the same couple. Drats! The third one was Silk Robe, another good one. Same result. Triple drats! This evening is not going quite as planned. I started thinking I was going home with nothing when Orchids came to the auction block. This time I was the successful bidder. Yay! Mockery and Don Juan were next and I was able to buy both. The trip wasn’t a total waste.

Daum Nancy covered salt, similar to the one sold at a Florida auction

Daum Nancy covered salt, similar to the one sold at a Florida auction

We were able to leave fairly early at about 6:45 PM and started driving home, though at times through torrential rain. At 8 PM, auction house #3, in Florida, called me to bid on a Daum Nancy covered salt. It was the only good item in a small auction. It wasn’t well advertised and I only found out about it because the auctioneer sent me an email asking for an authentication. So I knew I could sneak up on this item and get it for a bargain. Wrong!! Again outbid, as the salt sold for $1,232.

Home at 10:45 PM, 12 hours after we left. Expenditures — 12 hours time x 2 people, gas, tolls, wear and tear. Bounty — 1 Grueby vase, 1 Gallé vase, 3 Icart etchings. It looks so easy when people visit us at shows and see all the merchandise nicely set up. Multiply this story by the hundreds of items that we display and you have a partial answer to the original question, “How do you get these things?”

Today I’ll be adding to my website several new Galle vases that I’ve recently acquired. I added a few the other day and today more. Please take a look. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Solid results at Christie’s sale of Lalique, South Kensington, London, May 26, 2010

Christie’s held an all Lalique sale at it’s South Kensington location in London on May 26, 2010. The results were solid, with a few exceptional ones. Interest in Lalique seems to be good worldwide, but always a little better in London.

R. Lalique vase 'Perruches', Christie's South Kensington lot 179, May 26, 2010

R. Lalique vase 'Perruches', Christie's South Kensington lot 179, May 26, 2010

The top lots of the sale were three examples of the same vase, Perruches, in three different colors. The blue and the amber examples each sold for £32,450 ($46,598), against identical pre-sale estimates of £15,000 – £20,000, over double the low estimates. The green example brought slightly less at £30,000 ($43,080).

R. Lalique bowl 'Madagascar', Christie's South Kensington, lot 197, May 26, 2010

R. Lalique bowl 'Madagascar', Christie's South Kensington, lot 197, May 26, 2010

Rarer items achieved better results, as would be expected. Lot 197 was a bowl with monkeys, entitled Madagascar. It carried a pre-sale estimate of £5,500 – £6,500 and sold for £13,750 ($19,745), more than twice the low estimate. A rare vase with veiled nudes, entitled Camées, sold for £10,000 ($14,360), against a pre-sale estimate of £7,000 – £9,000.

For the complete results of the sale, click on the following link. Christie’s Lalique results.

Today I’ll be adding to my website several new Galle vases that I’ve recently acquired. Please take a look. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Some exceptional results at Sotheby’s 20th Century Decorative Arts & Design auction in Paris, May 26, 2010

Sotheby’s and Christie’s have been conducting sales in Paris for less than a decade, after a law was passed in July, 2000, that ended the 400-year-old monopoly of French auctioneers. Sotheby’s most recent sale in Paris, 20th Century Decorative Arts & Design, was held on May 26, 2010, with some extraordinary results.

Paul Iribe, 'NAUTILE', a carved walnut armchair, 1913, Sotheby's Paris, lot 9, May 26, 2010

Paul Iribe, 'NAUTILE', a carved walnut armchair, 1913, Sotheby's Paris, lot 9, May 26, 2010

Lot 9 was a Nautilus chair by Paul Iribe, done in 1913. It was estimated to sell for 80,000—120,000 EUR, but brought the incredible price of 492,750 EUR ($608,310), with buyer’s premium. I have to plead ignorance about Paul Iribe, so the result is a surprise to me, as I suspect it is to most of my readers. Click the following link if you want to read the Wikipedia entry about him. Paul Iribe on Wikipedia.

FRANÇOIS-XAVIER LALANNE rug, <i>Les Moutons</i>, Sotheby's Paris, lot 76, May 26, 2010

FRANÇOIS-XAVIER LALANNE rug, Les Moutons, Sotheby's Paris, lot 76, May 26, 2010

Lot 76, a 1978 rug, Les Moutons by François-Xavier Lalanne, brought the second-most surprising result of the sale. It sold for 240,750 EUR ($297,580), against a pre-sale estimate of 20,000—30,000 EUR. Look carefully at the photo and you’ll see the sheep crowded together. It’s very nice, but $300K?? Apparently it’s true that it only takes two to make an auction. On this day there were two very determined bidders.

For the complete results of the sale, click on the following link. Sotheby’s Paris 20th Century results.

In the next few days and weeks, I’ll be adding my new acquisitions to my website as they come in. Please take a look. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Picasso painting sells for $106.5 million, a world record

Picasso 'Nude, Green Leaves and Bust', Christie's New York, lot 6, May 4. 2010

Picasso 'Nude, Green Leaves and Bust', Christie's New York, lot 6, May 4. 2010

Christie’s New York held several Impressionist and Modern Art sales, May 4-5, 2010. The PROPERTY FROM THE COLLECTION OF MRS. SIDNEY F. BRODY sale included lot 6, a Pablo Picasso painting entitled “Nude, Green Leaves and Bust”. It sold for $106,482,500, becoming the most expensive single work of art ever sold at auction. It eclipsed the recent record of $101,426,070, set by a bronze sculpture by Alberto Giacometti entitled “Walking Man I”, that was sold at Sotheby’s in London on February 3, 2010.

Alberto Giacometti bronze 'Walking Man I', lot Sotheby's London, February 3, 2010

Alberto Giacometti bronze 'Walking Man I', lot Sotheby's London, February 3, 2010

The painting was purchased in 1950 from the art dealer Paul Rosenberg for $17,000. It was painted in 1932 and depicts the model Marie-Thérèse Walter. The painting has only been exhibited once in public, in 1961, at an exhibition sponsored by the UCLA Art Council.

Interestingly enough, the ladies of The View discussed the sale of the painting on their show, but were forced by the network’s attorneys to blur out the breasts of the nude. What??? Scantily clad women can dance on Dancing With the Stars, soap operas have blatant sexual topics and near nudity, but The View can’t show two single line breasts? Just plain nuts.

The Brody sale also eclipsed another record, the highest gross for any single owner collection sold at auction — $224,177,500. Click on this link for the entire sale results. The Brody Collection Results.

In the next few days and weeks, I’ll be adding my new acquisitions to my website as they come in. Please take a look. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Why buy Maxfield Parrish prints when you can buy the originals?

Maxfield Parrish 'Daybreak', Christie's lot 24, May 20, 2010

Maxfield Parrish 'Daybreak', Christie's lot 24, May 20, 2010

Have you been wasting your time buying Maxfield Parrish prints, when you could have been buying the originals? Christie’s New York held their Important American Paintings sale on Thursday, May 20, 2010, with 11 originals by Maxfield Parrish.

If you had a spare $5.2 million, you could have bought the original, penultimate Maxfield Parrish painting “Daybreak”. Mel Gibson and his wife, Robyn, bought it at Christie’s in 2006 for $7.6 million. Now that they’re divorcing, the new buyer got a bargain. The pre-sale estimate was $4-7 million.

In 1922, Daybreak was the first painting commissioned by The House of Art, specifically to be reproduced as a print. It was an instant success. Parrish became so famous in the 1920s that it’s estimated that 1 in 4 households in the United States had a Parrish print on display in their homes. He became the highest paid artist in the country.

Maxfield Parrish 'Sing a Song of Sixpence', Christie's lot 28, May 20, 2010

Maxfield Parrish 'Sing a Song of Sixpence', Christie's lot 28, May 20, 2010

The second highest Parrish painting of Christie’s sale was lot 27, “Sing a Song of Sixpence”. The huge painting, over 13′ wide, was originally commissioned as a mural for the Sherman House Hotel in Chicago, Illinois. It sold for $2,210,500, below the pre-sale estimate of $2.5-3.5 million.

Maxfield Parrish 'End Papers for The Arabian Nights', Christie's lot 106, May 20, 2010

Maxfield Parrish 'End Papers for The Arabian Nights', Christie's lot 106, May 20, 2010

You didn’t have to be a millionaire to buy an original Parrish at this auction. Lot 106 was the end papers for “The Arabian Nights”. Done in ink, gouache and pencil on paper, and measuring 10″ x 14¼”, they sold for $6,250, against an estimate of $6-8,000.

For the complete results to the Christie’s Important American Paintings sale, click on this link. Christie’s results.

In the next few days and weeks, I’ll be adding my new acquisitions to my website as they come in. Please take a look. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Christie’s New York sells the Michael Crichton collection of contemporary art for over $100 million

Jasper Johns "Flag", Christie's New York, lot 7, May 11, 2010

Jasper Johns 'Flag', Christie's New York, lot 7, May 11, 2010

Recent art auctions at Christie’s New York brought some extraordinary results. Tuesday, May 11, 2010, was the day that Christie’s sold the art collection of Michael Crichton, of Jurassic Park fame. The highlight of the sale was the iconic image of the American flag, painted by Jasper Johns in the period from 1960-1966. As Mr. Crichton and Mr. Johns were personal friends, he was able to purchase the painting directly from the artist. It was sold as lot 7 and carried a pre-sale estimate of $10-15 million. The result was a new world record for the artist, $28,642,500, including buyer’s premium.

Robert Rauschenberg 'Studio Painting';, Christie's New York, lot 24, May 11, 2010

Robert Rauschenberg 'Studio Painting', Christie's New York, lot 24, May 11, 2010

The Michael Crichton collection was 100% sold — an unusual feat for a collection of this magnitude. The sale grossed $103.3 million, a record for a single owner sale of contemporary art. Works by other artists also performed well, with 17 of the 31 lots offered selling for over $1 million each. The second best lot of the sale went to a mixed media painting by Robert Rauschenberg entitled “Studio Painting”. It sold for $11,058,500.

Picasso 'Femme et fillettes', Christie's New York lot 13, May 11, 2010

Picasso 'Femme et fillettes', Christie's New York lot 13, May 11, 2010

Three Picasso paintings in the sale sold well, with lot 13, “Femme et fillettes”, selling for the most at $6,578,500.

For a complete listing of the sale results, click this link. Christie’s Michael Crichton sale results.

In the next few days and weeks, I’ll be adding my new acquisitions to my website as they come in. Please take a look. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Solid results at Rago’s 20th Century auction, April 24, 2010

David Rago

David Rago

Rago Arts held their 20th Century auction this past Saturday, April 24, 2010, with good results for pottery, furniture and glass, as well as a few exceptional results.

In an email reply to my inquiry, David made the following remarks about his sale.

“As for the ac sale, the low estimate was 690k and the sale hammered at 718k. it was 88% sold at the hammer (with things selling after the sale, as always). Better things did better, which I’m sure comes as no surprise. The market is really expressing a discerning eye and the bottom end of most things has really fallen away. The tiffany that either didn’t sell or attracted little interest were the obviously weak lots. If I never see another acorn table lamp again I’ll be thrilled. Unless the background glass is red. And the base is decorated with mosaic tiles. And the reserve is $5k.

Our approach has been to curate smaller, tighter sales with conservative estimates, and reserves under the low estimates, to attract competitive bidding. While I do miss those two day, 1000 lot Arts and Crafts/Art Nouveau auctions, our sell through rate and our total sales ($850k including bp) have been gratifying.”

Marblehead bowl with panthers, Rago auction, lot 1

Marblehead bowl with panthers, Rago auction, lot 1

The first lot of the sale was a Marblehead bowl, with rare panther decoration. It carried a pre-sale estimate of $25-35,000. The result doubled the low estimate, with the bowl selling for $61,000, including buyer’s premium.

Tiffany pottery vase, Rago auction, lot 262

Tiffany pottery vase, Rago auction, lot 262

There weren’t many Tiffany lots in the sale, but for the most part, they did very well. A rare 6″ tall pottery vase, in the form of an artichoke, sold for $19,520, approximately double the high estimate.

Tiffany Favrile decorated vase, Rago auction, lot 272

Tiffany Favrile decorated vase, Rago auction, lot 272

Lot 272 was a Tiffany Favrile 9″ vase with elaborate gold hearts & vines decoration on a deep carmel background. The vase sold for $26,840, approximately four times the pre-sale estimate — a surprising result. Perhaps the hint of red was the reason for the enthusiasm.

For the complete auction results, click on the following link Rago Early 20th Century auction results.

I’ve taken a lot of time to add new items to my website. Please take a look, as every day I’m adding more. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Cottone Auction a barnburner in Geneseo, New York, March 27, 2010

It’s difficult to find a high quality, diverse auction nowadays, as auctions have become more and more specialized. Cottone Auctions put together a fabulous sale on March 27, 2010 and got the results to go with it. Geneseo, New York, is a rural town in the northwest section of the state. One would think it would be difficult to get high-quality, fresh goods in that area. But guess what? They’re doing it. Apparently upstate New York, which includes Buffalo and Rochester, is fertile territory for great consignments. The sale included great paintings, Tiffany, Handel, Duffner & Kimberley lamps, French cameo glass, Imperial Russia china, silver, furniture and more.

Gilbert Stuart portrait of George Washington

Gilbert Stuart portrait of George Washington

The top lot of the sale was an 18th century Gilbert Stuart portrait of George Washington, that closely resembles the Stuart portrait of Washington that hangs in the National Gallery of Art in Washington, DC. The painting was in undisturbed original condition and came with impeccable provenance. The bidding started at $250,000 and ended at $1.06 million, with a west coast bidder on the phone losing to a Pennsylvania dealer on the floor.

Tiffany Studios Magnolia floor lamp

Tiffany Studios Magnolia floor lamp

The top Tiffany lamp at the sale was a Magnolia floor lamp that descended in the family of Merton Armstrong, co-founder of the Sterling Alarm Company. Some of Armstrong’s lamps were purchased directly from Tiffany Studios in the 1920s and ’30s. The lamp sold for $661,250 — not a record for a magnolia lamp, but very respectable.

Tiffany Studios 20 inch diam. Dragonfly table lamp

Tiffany Studios 20 inch diam. Dragonfly table lamp

A very good 20″ Dragonfly, on a great lily pad base, sold for $172,500, in large part due to the rarity and desirability of the base.

Click this link for some of the highlights of the auction. Cottone Auctions.

Remember to come see me this week if you’re in the greater Chicago area. I’m exhibiting at the Arlington Park Racetrack Antiques Show, Friday-Sunday, April 9-11, 2010. You won’t believe all the great things I’m bringing.

I’m taking a lot of time to add new items to my website. In the last few days I’ve added to the Gallé glass and Icart etchings listings. Please take a look, as every day I’m adding more. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog.

Superb results for French Cameo Glass at two Christie’s NY Sales, March 2 & March 16, 2010

Christie’s New York held an Interiors sale on March 2, 2010, where lower-end items are sold, mostly from estates. These lower-end items would be considered higher-end at many other auction houses, but not at Christie’s or Sotheby’s. Included in the diverse sale were 27 lots of French cameo glass, many still left from the vast collection of Simon Pinhas. The results were strong, with a few of the lots bringing exceptional prices.

Daum vase with herons, Christie's lot 225, March 2, 2010

Daum vase with herons, Christie's lot 225, March 2, 2010

Lot 225 was a Daum bowl with a desirable herons in flight decoration. Medium size at 5″ tall, it was estimated at $2-3,000. On a good day, it should have sold for a maximum of $10,000, but on this day it sold for $32,500, including buyer’s premium — 10 times the high estimate. That’s impressive. Helllooo, bidders at Christie’s. I’ve got some really nice French cameo glass for sale for a lot less money.

Daum winter scenic vase, Christie's lot 217, March 2, 2010

Daum winter scenic vase, Christie's lot 217, March 2, 2010

Daum winter scenic vases have been desirable for many years, usually commanding a premium over other scenic vases. But on March 2nd, the premium got a lot higher. Lot 217 was a nice Daum winter scenic vase, 10″ tall. It carried a pre-sale estimate of $2-3,000 and should have sold for two or three times the high estimate. Bidders on this day pushed the price to $20,000, including buyer’s premium — an outstanding price for a winter scenic.

Use this link to view all the results for the French cameo glass at Christie’s Interior sale of March 2, 2010. French cameo glass at Christie’s Interior sale.

Gallé fire-polished vase, Christie's lot 25, March 16, 2010.

Gallé fire-polished vase, Christie's lot 25, March 16, 2010.

The party continued with a few lots of French cameo glass in the 20th Century Decorative Art & Design sale of March 16, 2010. Several items brought exceptionally strong prices, starting with lot 25, a Gallé fire-polished vase, 12″ tall. To my eyes, the vase was nothing exceptional and should have sold within the pre-sale estimate of $4-6,000, but apparently the bidders disagreed. They pushed the price to $30,000, including buyer’s premium.

Several other lots soared past their pre-sale estimates, including a Daum winter scenic vase in the style of Muller at $30,000, a monumental Muller vase with poppies at $35,000 and a Daum Art Deco vase with wheel-carving at $37,500. It’s a pleasure to see such strength in the French cameo glass market. Hopefully it will be felt everywhere, not just at Christie’s.

Here’s the link to the French cameo glass results at Christie’s March 16, 2010 sale. French cameo glass at Christie’s March 16, 2010 auction.

I’m taking a lot of time to add new items to my website. I’ve already listed new items under Gallé glass, Daum Nancy glass, Tiffany Studios glass and Marblehead pottery, to name a few. Please take a look, as every day I’m adding more. Click on this link chasenantiques.com.

Please send me your suggestions or questions about art glass, lamps, Louis Icart, shows, auctions, etc. If it’s interesting, I’ll answer your question in a future blog entry.