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Home » The Fall New York auctions are on right now, beginning with this Evening’s Sotheby’s Contemporary Sales

The Fall New York auctions are on right now, beginning with this Evening’s Sotheby’s Contemporary Sales

November 3rd, 2008

Danseuse au Repos, the 1879 painting by Edgar Degas is a highlight of this evening’s Sotheby’s auction though it remains to be seen if it will sell for its estimated $40 million, via NY Times

After extremely high sales in May which tallied $1.56 billion, and then more recently lackluster sales in London which missed low estimates by up to $40 million, as covered by Art Observed here, the art world is up for a major test in the next two weeks as Sotheby’s and Christie’s begin tonight selling contemporary, impressionist, and modern works that add up to high estimates of $1.76 billion, including a work by the Russian Kazimir Malevich (“Suprematist Composition” 1916, a $60 million geometric work) and a $40 million self-portrait by Francis Bacon and other works from high profile financiers Kohlberg, Kravis, Roberts & Co. co-founder Henry Kravis and Lehman Brothers Chief Executive Officer Fuld.

Despite Pablo Picasso’s 1909 painting ‘Arlequin’ (which was estimated at $30 million) being pulled before the Sotheby’s auction recently, this evening’s Sotheby’s impressionist and modern art sale is slated to tally about $320 million and includes 71 lots including “Danseuse au repos” by French Impressionist Edgard Degas which is expected to go for $40 million (pictured above).

This auction will be followed by Christie’s $153 million high estimate November 5th sale which includes works from the estates of the widows, Rita Hillman and Alice Lawrence, and then a November 6th sale, comprised of art from various owners, estimated to total up to $344 million. Sotheby’s November 11th sale of contemporary art could total up to $281.6 million and features works by John Currin, Richard Prince, and Yves Klein. Following that is Christie’s November 12th sale with a high estimate of $321.7 million, featuring Metallica drummer Lars Ulrich’s Jean-Michel Basquiat painting of a boxer at an estimate of $12 million.

On Auctions Overall:
Big Prices, Big Risks at Fall Art Auctions
[NY Times]
NY art auctions under microscope amid financial crisis [AFP]
Art world dreading declines at upcoming key NY sales [Reuters]
Kravis, Fuld Brace for N.Y. Auctions as Collectors Lower Prices
Falling under the hammer
[Financial Times]
It’s not a pretty picture Christie’s, Sotheby’s may be on the hook
[New York Post]
Art sales face acid test in midst of credit crunch [Financial Times]
Exceptional Work by Francis Bacon Leads Christie’s New York Post-War & Contemporary Art Sale [ArtDaily]
Things Are Cold, Clammy at City Auction Houses [NYObserver]

From ArtObserved:
Metallica’s drummer to sell Basquiat painting at Christie’s New York, November 12th auction; ‘Boxer’ to be displayed during Frieze Art Fair in London [ArtObserved]
Sotheby’s hopes to smash Russian art at auction record with $60 million sale of Malevich painting in New York on November 3rd [ArtObserved]

On withdrawn Picasso:
Picasso work withdrawn from Sotheby’s sale
Picasso painting pulled from sale [BBC News]
Picasso Work Is Withdrawn From Sotheby’s Sale [NY Times]
Sotheby’s Withdraws Picasso’s Arlequin From Impressionist and Modern Art Sale [Art Daily]
Picasso Withdrawn From Sotheby’s Imp-Mod Sale [Artinfo]
Picasso painting withdrawn from Sotheby’s auction [Associated Press]

Auction Information:
Impressionist & Modern Art Evening Sale – Sotheby’s November 3 [Sotheby's]
Christie’s Impressionist/Modern Evening Sale November 5th [Christie's]

more pictures from the Sotheby’s Sale and other auctions after the jump…

Pablo Picasso’s 1909 painting Arlequin was pulled from Sotheby’s Impressionist and modern evening sale, via Art Info.

LOT 6 – KAZIMIR MALEVICH – 1879-1935 – SUPREMATIST COMPOSITION – with a high estimate of over $60M via Sotheby’s


LOT 8 – VINCENT VAN GOGH – 1853-1890 – STATUETTE DE PLÂTRE: TORSE DE FEMME, VUE DE FACE – estimate: $7,000,000—$10,000,000 via Sotheby’s


LOT 11 – CLAUDE MONET – 1840-1926 – PAYSAGE À PORT-VILLEZ – estimate: $3,500,000—$5,000,000 via Sotheby’s

LOT 26 – AMEDEO MODIGLIANI – 1884-1920 – HOMME ASSIS (APPUYÉ SUR UNE CANNE) – estimate: $18,000,000—$25,000,000 via Sotheby’s

LOT 32 – ALBERTO GIACOMETTI – 1901-1966 – TÊTE DE DIEGO -estimate: $6,000,000—$8,000,000 via Sotheby’s


$16,000,000—$22,000,000 via Sotheby’s


LOT 55 – PIERRE-AUGUSTE RENOIR – 1841-1919 – PORTRAIT DE NINI – Estimate: $5,000,000—$7,000,000 via Sotheby’s


FEMME AU CHAPEAU BLEU GARNI D’UNE GUIRLANDE – $6,000,000—$8,000,000 via Sotheby’s

Christie\'s is pleased to announce the sale of the Francis Bacon’s Study for Self Portrait, 1964,
Christie’s lot: Francis Bacon’s Study for Self Portrait, 1964.

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