David Hockney, Henry Geldzahler and Christopher Scott (1969), via Christie’s
Following a marathon week of openings and shows between New York and London, the first major Contemporary Evening Sales of 2019 are in the bag, with a trio of sales closing out the week in London with a market picture that seemed relatively strong. No doubt clouded in some part by the uncertainty of the impending Brexit, the week’s sales still managed to achieve some impressive figures and strong sell-through rates, keeping the uncertainty of the following months alive in the British capital.
Jean-Michel Basquiat, Apex (1986), via Sotheby’s
Sotheby’s kicked off the week in London, closing out a £93.3 million sale with 60 of 66 lots finding a buyer. Chief among the highlights was a Jean-Michel Basquiat work that sold at £8,227,950, reaching estimate with few fireworks, while a captivating Roy Lichtenstein work also sold for a strong price of £5,811,550.  Three auction records were set during the course of the evening as well, with Rebecca Warren, Adam Pendleton, and Toyin Ojih Odutola all resetting their best numbers.
Gerhard Richter, Abstraktes Bild (2009), via Sotheby’s
Peter Doig, Haus der Bilder (House of Pictures) (2001), via Christie’s
At Christie’s the following evening, the sales continued to move methodically, with strong figures and an impressive 38 of 41 lots sold helping the auction house reach a final sales total of £79.3 million, a figure buffeted by several strong lots and some big numbers from David Hockney. In fact, the native Englishman’s Henry Geldzahler and Christopher Scott accounted for a full third of that figure, achieving a final price of £37.6 million as steady, competitive bids continued to drive the price upwards from a £27 million start. Sold from the estate of Barney Ebsworth, the sale was one of the major highlights of the week, showcasing the recent explosion of Hockney’s works on the secondary market. However, other premiere works failed to find the same success, as Peter Doig’s Haus der Bilder (House of Pictures) flopped on tepid bidding and went unsold. By contrast, Nicolas de Staël’s Bouteilles (Bottles) was an impressive grower, doubling estimate to a £4,519,250 final.
Gerhard Richter, Düsenjäger (1963), via Phillips
The sales concluded the following evening at Phillips, where the auction house capped an equally strong and competitive auction that sees it continuing to nip at the heels of the other two auction giants. Selling 25 of 28 works, the sale finished at £36.4 million, led by a Gerhard Richter work that achieved a final of £15.5 million, making up for the previous sale of the work that was cancelled after buyer Zhang Chang failed to pay up on the work’s previous sale in 2016 at the auction house. Martin Kippenberger’s Ohne Titel also performed well, finishing at a final of  £3.82 million.
With sales concluded in London, the next major sales will take place in New York this coming May.
Martin Kippenberger Ohne Titel (Meine Lügen sind ehrliche) (1992), via Phillips
The sales concluded the following evening at Phillips, where the auction house capped an equally strong and competitive auction that sees it continuing to nip at the heels of the other two auction giants. Selling 25 of 28 works, the sale finished at £36.4 million, led by a Gerhard Richter work that achieved a final of £15.5 million, making up for the previous sale of the work that was cancelled after buyer Zhang Chang failed to pay up on the work’s previous sale in 2016 at the auction house. Martin Kippenberger’s Ohne Titel also performed well, finishing at a final of  £3.82 million.
With sales concluded in London, the next major sales will take place in New York this coming May.
— D. Creahan
Read more:
Sotheby’s Contemporary Art Evening Sale [Sotheby’s]
Christie’s Post-War and Contemporary Art Evening Sale [Christie’s]
Phillips 20th Century and Contemporary Art Evening Sale [Phillips]
