Ritz Paris Furniture Sale Yields $9 Million

April 23, 2018 Paul Joseph

Ritz Paris Furniture Sale Yields $9 Million

Back in February, after an extended period of renovations, the venerable old Ritz Paris hotel announced its plans to sell a large number of its premium furniture and other historical pieces.

At the time it was widely expected that this would yield significant returns, given the prestige of the hotel and the provenance of so many of its interior features.

But few could have anticipated that this accumulative price would reach an incredible $9 million – yet this is precisely what happened when the auction took place last week.

The auction was attended by collectors from across the globe, who came to bid on over 10,000 pieces of furniture and décor, including stools from the Hemingway Bar, a 19th-century bathtub, sofas and a harp from the Proust Lounge.

On sale were also items such as velvet security cordons, curtain ties, rugs, bedframes and sets of bathrobes and slippers – all embellished with the Ritz badge. Prices for the objects ranged from €100 euros to a €10,000 euros.

The extensive refurbishment of the hotel was completed earlier this year and saw many of the hotel’s items being upgraded or replaced.

A wide number of historical figures, including Ernest Hemmingway, Marcel Proust and Gabrielle “Coco” Chanel, have stayed in the Ritz Paris down the years.

Overlooking the octagonal border of the Place Vendome, the hotel is ranked among the most luxurious hotels in the world.

Ritz Paris Furniture Sale Yields $9 Million

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