Archive for the 'Auction Results' Category

AO Auction Recap – New York: Phillips Contemporary Evening Sale, May 14th, 2015

Thursday, May 14th, 2015

Francis Bacon, Seated Woman (1961), via Phillips
Francis Bacon, Seated Woman (1961), via Phillips

The Phillips Contemporary Evening sale has concluded, bringing to a close a week full of fireworks and smashed records with a relatively lackluster sales event that saw several impressive sales, countered by a number of less than exceptional performances.  Of the sale’s 71 lots, 14 went unsold, and few others managed to surpass high estimates, bringing the final sales tally to a respectable $97,100,000.   (more…)

AO Auction Recap – New York: Christie’s Impressionist and Modern Evening Sale, May 14th, 2015

Thursday, May 14th, 2015

Piet Mondrian, Composition No III Red, Blue, Yellow, and Black, (1929), via Art Observed
Piet Mondrian, Composition No. III Red, Blue, Yellow, and Black (1929), via Art Observed

The auction week has come and gone, and Christie’s has closed out a major week for both its Impressionist/Modern and Contemporary Departments, as the combined sales of its three Evening events this week have collectively brought in well over a billion dollars in sales.  This Evening, the Impressionist and Modern Evening sale added an exclamation point to the proceedings, bringing in a final tally of $202,608,000 that saw a major new record for Piet Mondrian. (more…)

AO Auction Recap – New York: Christie’s Contemporary and Post-War Auction, May 13th, 2015

Wednesday, May 13th, 2015

Lucian Freud, Benefits Supervisor Resting, via Art Observed
Lucian Freud, Benefits Supervisor Resting (1994), via Art Observed

Christie’s has concluded the first days of Frieze week in style tonight, continuing its impressive performance over the course of the Contemporary Auction week with a strong sale tallying $658,532,000.  Selling 72 of the 85 lots offered, the sale saw several major records fall during the course of the evening, signaling the intense enthusiasm for the contemporary market both in the U.S. and abroad. (more…)

AO Auction Recap – New York: Sotheby’s Contemporary and Post-War Evening Sale, May 12th, 2015

Tuesday, May 12th, 2015

Christopher Wool, Riot (1990), via Sotheby's
Christopher Wool, Riot (1990), via Sotheby’s

Another night come and gone in New York, and another impressive evening auction in the books as Sotheby’s concludes its Contemporary and Post-War Evening Sale this Tuesday night with a final tally of $379,676,000, failing to top Christie’s impressive auction from one night prior despite some impressive sales records of its own.  The 65-lot sale saw 8 of the works go unsold, for a final sell-through rate of 87.7%, a hard figure considering last evening’s single unsold lot out of 35. (more…)

AO Auction Recap – Christie’s ‘Looking Forward to the Past’ Sale, Setting a New World Auction Record of $179 Million for Pablo Picasso’s ‘Les Femmes D’Alger,’ May 11th, 2015

Tuesday, May 12th, 2015


Pablo Picasso, Les Femmes D'Alger (1955), via Art Observed
Pablo Picasso, Les Femmes D’Alger (1955), via Art Observed

The crown for the most expensive artwork at auction has returned to the master, as Pablo Picasso’s Les Femmes D’Alger lived up to its lofty expectations at auction this evening, as Christie’s “Looking Forward to the Past” exhibition kicked off Frieze Week (and a week of Contemporary Sales in New York) in grand style, tallying a massive $705,858,000 for a 35-lot offering that saw numerous records fall by the wayside, and only one lot going unsold, on the way to Picasso’s triumphant evening. (more…)

AO Auction Recap – New York: Sotheby’s Impressionist and Modern Evening Sale, May 5th, 2015

Wednesday, May 6th, 2015

Claude Monet, Nymphéas (1905), via Art Observed
Claude Monet, Nymphéas (1905), via Art Observed

The first night of the bustling spring auction week is underway, as Sotheby’s concluded a somewhat unsteady sale last night of Impressionist and Modernist masterpieces that achieved a final of $368,344,000, well over the auction house estimate of $270,000,000.  The final tally saw 14 of the 64 lots go unsold over the course of the evening, which will be the last major Impressionist and Modern sale of the first half of the year on U.S. soil. (more…)

AO Auction Recap – London: Phillips Contemporary and Post-War Evening Sale, February 12th, 2015

Friday, February 13th, 2015

Mark Bradford, Biting the Book (2013), via Phillips
Mark Bradford, Biting the Book (2013), via Phillips

Following a pair of major auctions the previous evenings, the Phillips Contemporary and Evening Sale in London has concluded the first Contemporary market week of the year, capping a 30-lot sale at the auction house’s new 30 Berkeley Square to the final result of £17.7 million, with only five of the works going unsold.


AO Auction Recap – London: Christie’s Contemporary Evening Sale, February 11th, 2015

Wednesday, February 11th, 2015

Francis Bacon, Study for a Head (1955), via Christie's
Francis Bacon, Study for a Head (1955), via Christie’s

Another night of sales has come and gone in London, following the conclusion of Christie’s Contemporary Evening Sale, a somewhat textbook outing that saw the auction house forego a reliance on high-achieving works in favor of a series of strong selling works to reach a final tally of £117,142,500.   (more…)

AO Auction Recap – London: Sotheby’s Contemporary Evening Sale, February 10th, 2015

Tuesday, February 10th, 2015

Gerhard Richter, Abstraktes Bild (1983), via Sothebys
Gerhard Richter, Abstraktes Bild (1983), via Sotheby’s

The Contemporary Evening sale at Sotheby’s has concluded, following a sale of works that was fairly by the book in comparison with past auctions, with the exception of a massive new auction record for artist Gerhard Richter just one day after his 83rd birthday.  Despite a lack of exceptionally competitive bidding, the 77-lot sale still brought in impressive returns, finishing at a tally of £123,515,250. (more…)

AO Auction Preview – London: Post-War and Contemporary Evening Sales, February 10th – 12th, 2015

Monday, February 9th, 2015

Francis Bacon, Two Studies for Self-Portrait (1977), via Sotheby's
Francis Bacon, Two Studies for Self-Portrait (1977), via Sotheby’s

Concluding a three week series of auctions, the Contemporary Evening Sales are set to take place in London in the coming evenings, offering a perspective on the strength of the market as 2015’s art season gets underway.

The auctions begin on Tuesday, February 10th, with Sotheby’s Evening sale.  The 77-lot sale is carrying a presale estimate of £89.7 million to £127.1 million, led by a large-scale Gerhard Richter Abstraktes Bild from 1986, which is estimated to sell for £14 million to £20 million.  Also topping the list is a rare Francis Bacon double self-portrait, executed in 1977 and carrying a £13 million to £18 million presale estimate.  The painting, executed  just weeks after the suicide of his partner George Dyer, is already commanding impressive buzz, and may turn out to be the night’s most coveted lot.  A Lucio Fontana “slit” work also sits at the top of the sale offerings, estimated at £5 million to £7 million.   (more…)

AO Auction Recap – London: Christie’s Impressionist and Modern Evening Sale, February 4th, 2015

Thursday, February 5th, 2015

Paul Cézanne, Vue Sur L'estaque Et Le Château D'if (circa 1881-1885), Christie's

Paul Cézanne, Vue Sur L’estaque Et Le Château D’if (circa 1881-1885), via Christie’s

The Christie’s Impressionist, Modern and Surrealist Sales have concluded in London, bringing to close the week of auctions.  In comparison with Sotheby’s record-setting auction last evening, the Christie’s sale seemed content to rely on a strong selection of curated works, putting together a 44 lot auction that ultimately brought in a final sales tally of £80,375,000.  There were few blockbuster lots in comparison with Sotheby’s and its selection of Monets, but a steady stream of sales in the auction house’s surrealism sale kept the auction houses in close competition, bringing in sales of £66,656,000 in its own right.

Juan Gris, La Lampe (1914), Via Christie's (more…)

AO Auction Recap – London: Sotheby’s Impressionist, Modern and Surrealist Evening Sales, February 3rd, 2015

Tuesday, February 3rd, 2015

Claude Monet, Le Grand Canal (1908), via Sotheby's
Claude Monet, Le Grand Canal (1908), via Sotheby’s

The Impressionist and Modern Auction week has begun in London, as Sotheby’s closes its doors on a strong set of evening sales.  It was the first sale since the auction house announced its increase in rates for 2015, but buyers seemed undeterred by the price increases, bring the final sales tally for the 54 lot sale to an impressive £170,274,000. (more…)

AO Auction Preview – London: Impressionist and Modern Evening Sales, February 3rd and 4th, 2015

Monday, February 2nd, 2015

Claude Monet, Le Grand Canal (1908), via Sotheby's
Claude Monet, Le Grand Canal (1908), via Sotheby’s

Picking up where last week’s Old Masters auctions in New York City left off, the art market’s attention turns to London this week, as Christie’s and Sotheby’s prepare a set of Impressionist and Modern auctions.   (more…)

AO Auction Recap – New York: Old Masters Week, January 28th-29th, 2015

Saturday, January 31st, 2015

Agnolo Bronzino, Portrait Of A Young Man With A Book, Via Christie's
Agnolo Bronzino, Portrait Of A Young Man With A Book, Via Christie’s

Old Masters Week has concluded in New York, following a set of auctions over the past few days that saw mixed results at both Sotheby’s and Christie’s. (more…)

AO Auction Preview – New York: Old Masters’ Week, January 28th-29th, 2015

Wednesday, January 28th, 2015

Agnolo Bronzino, Portrait Of A Young Man With A Book, Via Christie's
Agnolo Bronzino, Portrait Of A Young Man With A Book, via Christie’s

The auction calendar kicks off with its first major sales of 2015 this week, as collectors of Renaissance and Classic works flock to New York City for Sotheby’s and Christie’s Old Masters week sales. With a group of sales lined up for each auction house in the coming days, and a number of impressive works available, the auctions should mark a strong start to the auction season. (more…)

Sotheby’s Modern Art Auction in London Yesterday Produce Uneven Results

Wednesday, February 6th, 2013

Pablo Picasso, Femme Assise Près D’Une Fenêtre, via Sotheby's
Pablo Picasso, Femme Assise Près D’Une Fenêtre, via Sotheby’s

Last night, Sotheby’s London hosted the first of the spring’s Modern Art auctions, with a number of works quickly soaring to high prices while others struggled to meet their estimates, most notably the centerpiece of the auction, Pablo Picasso’s “Femme Assise Près d’une Fenêtre.” (more…)

London Old Masters Sales bring uneven results

Sunday, December 9th, 2012

Sir Joshua Reynolds Portrait of Elizabeth, Lady Forbes (detail), courtesy ChristiesCollectors seeking iconic works at the Old Masters sales in London this week have led to uneven results: at Sotheby’s a bidder paid $47.9 million for “Head of a Young Apostle,” by Raphael; at Christie’s, only 29 out of 54 lots sold, bringing in $18.6 million, just over low estimate. “The name is not enough. It has to be a top example by an important master,” said Jonathan Green of the Richard Green Gallery in London. Additional speculation is that international, non-Western buyers are not interested in the historical subject matter from a cultural standpoint. (more…)

Raphael’s “Head of a Young Apostle” raises record $47.8 Million at Sotheby’s

Thursday, December 6th, 2012

In a record-breaking auction, the black chalk “Head of a Young Apostle” by Raffaello Sanzio (Raphael), sold Tuesday, December 4th, 2012 for $47.8 million. This is the highest price paid for any work on paper, and the second highest for any Old Master, after Ruben’s “Massacre of the Innocents” which raised $78.2 million at Sotheby’s in 2002. The highest bidder was Natasha Mendelsohn, who bids on behalf of clients for Sotheby’s (BID) London.  (more…)

New York – Latin American Week Roundup: Auction Results and Pinta, November 15th – 20th, 2012

Wednesday, November 21st, 2012

Gallerist Cecilia Jurado of Y Gallery, NY in front of two works by Carlos Motta
Gallerist Cecilia Jurado of Y Gallery, NY in front of two works by Carlos Motta photo by A.M. Ekstrand for ArtObserved

Latin American week began with the Pinta art fair, which ran from November 15th – 18th, 2012, after which followed auctions at Christie’s, Sotheby’s and Phillips de Pury & Co. Several records were broken for Latin American artists, proving that the market is still robust, especially on the high end.

Matta Nada courtesy Sothebys
Roberto Matta, Nada 1943 courtesy Sotheby’s sold for $1.82 million (more…)

New York – AO Auction Results: Phillips de Pury & Co. Contemporary Evening Sale, Thursday, November 15th, 2012

Friday, November 16th, 2012

Phillips de Pury saleroom photo by ArtObserved
Phillips de Pury saleroom photo by ArtObserved

On Thursday night, boutique auction house Phillips de Pury & Co. hosted the final Contemporary Art Evening Sale in a blockbuster week for the art market. Tallying $79.9 million against its projected estimate of $73 to $110 million, Phillips de Pury’s Chief Executive Officer, Michael McGinnis, stated “we’re happy with the competition and prices,” especially after the third consecutive night of Contemporary Art sales. McGinnis reflected on the evening saying ” it was a small and deliberate sale, with works specifically chosen to compliment the week.”

Andy Warhol Mao courtesy Phillips de Pury & Co.
Andy Warhol Mao courtesy Phillips de Pury & Co.

Despite achieving just over its low estimates for the sale, Phillips de Pury had a sell by value of 98% and a sell by lot of 83%. With a very carefully selected 35 lots offered, only six artworks failed to find a buyer. However, all of the lots had third party guarantees, of which there were five guarantors.


New York – AO Auction Results: Christie’s Postwar & Contemporary Evening Sale, Wednesday, November 14th, 2012

Thursday, November 15th, 2012

Christie's saleroom photo by ArtObserved
Christie’s saleroom photo by ArtObserved

Christie’s Post-War & Contemporary Art Evening Sale broke the record for the highest ever grossing Contemporary Art auction in history, totaling over $412 million in sales. The auction came on the heels of Sotheby’s Postwar & Contemporary Art Evening Sale, which broke its own record for highest-grossing auction in Sotheby’s long history ($375 million). Christie’s achieved an astounding 92% sell by lot and 93% sell by value – of the 73 lots offered only 6 failed to sell.

Andy Warhol Statue of Liberty courtesy Christie's

Records at auction were broken for Richard Diebenkorn, Jeff Koons, Richard Serra, Franz Kline, George Condo, Jean- Michel Basquiat, and Mark Grotjahn. Additionally, Jean Dubuffet, Cy Twombly and Jean-Michel Basquiat set new records for their artworks on paper. A record was set for an Alexander Calder wire sculpture at auction with Policeman, which sold for $4.2 million.


New York – AO Auction Results: Sotheby’s Contemporary Evening Sale, Tuesday, November 13th, 2012

Wednesday, November 14th, 2012

Rothko No 1 Royal Red and Blue at Sothebys
Sotheby’s saleroom with Rothko, No 1 (Royal Red and Blue) photo by ArtObserved

Last night Sotheby’s held its highest grossing auction ever. The Contemporary Art Evening Sale totaled over $375 million, just over the projected high estimate of $374 million. Auctioneer Tobias Meyer rejoiced stating “I can hardly express how thrilled we are.” According to Sotheby’s, it has experienced a record-breaking year in 2012, with Contemporary Art sales totaling over $1 billion.

Rothko No 1 Royal Red and Blue
Rothko, No 1 (Royal Red and Blue) Courtesy Sotheby’s

Auction Brief

Monday, November 12th, 2012

Warhol courtesy Christie'sChristie’s sale today to benefit the Andy Warhol Foundation achieved $17,017,050 for the Foundation’s endowment, with 91% of lots sold. Leading the sale of 354 works by Andy Warhol were Endangered Species: San Francisco Silverspot, which had an estimate of $1,000,000 – $1,500,000 and sold for $1,258,500; followed by Endangered Species: Bighorn Ram, estimated at $700,000 – $1,000,000 and achieving $842,500; and Jackie, which more than doubled its high estimate of $300,000, realizing $626,500. (more…)

New York – AO On Site: Sotheby’s Impressionist & Modern Art Evening Sale Results, Thursday November 8th, 2012

Friday, November 9th, 2012

Picasso at Sothebys
Sotheby’s saleroom

Last night Sotheby’s Impressionist & Modern evening sale was consistent throughout, despite an overall lower sale total than Christie’s the previous night. Although there was no blizzard for the crowds to push through, the overall buyer interest and sell through rates similar: Sotheby’s achieved a total of $163 million, with a sell through rate of 68.7% and sell by value of 79.2%. Over the course of the day, Sotheby’s achieved a total of over $203 for both the day and evening sales of Impressionist and Modern Art. The first half of the sale was decidedly lively in bidding, whereas most of the unsold lots took place in the second half of the evening.

Picasso Nature Morte Aux Tulipes
Pablo Picasso, Nature Morte Aux Tulipes (1932) Image courtesy of Sotheby’s (more…)