Following the early days of the marathon week of auctions in New York, it wasn’t hard to anticipate a strong outing for the Contemporary Auctions soon to take place, yet the impressive sales at Christie’s, Sotheby’s and Phillips this week outpaced expectations, charting a path of major auction records and bested tallies that marked a strong outlook for the secondary market. Of particular note was the setting of a new auction record for a living artist with Jeff Koons’s Rabbit selling for a new record price of $91,075,000. (more…)
Archive for the 'Auction Results' Category
It’s been a wild week so far the world’s financial elite, especially in New York, where the stock market has plummeted over fears of an ongoing trade war with China and the attendant tariffs that implies. Yet that didn’t seem to deter the city’s auction houses from swinging for the fences and connected, as Christie’s and Sotheby’s capped a pair of wildly impressive sales that saw both auction houses notch some strong figures, and some major auction records, including a new world record for Claude Monet at Sotheby’s last night. (more…)
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 (more…)
Over the course of the last two evenings in London, the major auction houses rounded out an uneven, occasionally disappointing series of sales in the British capital, casting some doubts over the prolonged strength of the Impressionist and Modernist market in the UK, EU and beyond. Missing out on major fireworks at both houses, save for a few auction records already anticipated to fall, the evening sales at Sotheby’s and Christie’s have posed some hard questions regarding the market’s current health, and just how markets are responding to an increasingly foggy Brexit picture.
With the conclusion of the week in London, a trio of auctions have painted an unclear picture of the Post-War and Contemporary Market in Britain, as a series of sales at the major houses saw particularly mixed results over the past two evenings. With a number of high-profile works going unsold, and a somewhat unsteady level of interest among paintings as a running theme, the sales at Christie’s, Sotheby’s and Phillips saw several strong outings as well as a few notable disappointments, summarized below.
Jeff Koons, Cracked Egg (Blue) (1994-2006), via Christie’s (more…)
With another auction in the books, Phillips has rounded out a pair of high-profile evening sales in the British Capital of London this week, running through a well-managed auction that ultimately capped aa strong tally of £34,811,000, with all works selling. (more…)
Trumpeting the sale as a “vote of confidence” following an unsteady Impressionist Evening Sale the week prior, Sotheby’s concluded its Contemporary Evening Sale tonight, marking a more balanced, even-handed outing with a £110,239,550 final tally. Spread over 44 lots, the sale was a solidly-appointed affair, with only one work going unsold in an outing that aimed to put fears over market weakness to bed. (more…)
The month’s Impressionist and Modern Evening Sales are now in the books, after the London headquarters for both Christie’s and Sotheby’s capped their sales in the British capital. Seizing on the recent and continued expansion of the market for works from this era in past months, the week’s sales were an often complex, confusing set of outings, as results fluctuated considerably and market health was perhaps painted as a bit unpredictable.
At Sotheby’s, nearly a third of the sale’s 36 lots went unsold (10), with the final tally capped at £87,496,600. Chief among the abortive works was a premier lot, Peinture, by Joan Miró, which stagnated on the auction block and missed its £8 to £12 million auction price, and ultimately contributed to the auction house missing out on its low estimate. The much-trumpeted Pablo Picasso portrait of Marie-Therese, however, performed admirably, making up nearly a full third of the auction’s value with its £27,319,000 final price. Also saving the sale was Alberto Giacometti’s Le Chat, which brought a strong price at £12,642,000.
A similar situation marked the sale at Christie’s the following evening, where a 45-lot sale achieved a final of £128,081,750. The sale was also marked by eight unsold lots over the course of the evening, but pushed through its offering on the strength of several strong works, chief among them Claude Monet’s La Gare Saint-Lazare, which reached a price of £24,983,750, as well as Picasso’s Femme dans un fauteuil, the Dora Maar portrait that performed to expectations at a final of £19,358,750. Another achievement came with the setting of a new auction record for Franz Marc, whose Drei Pferde easily hit £15,421,250, resetting his record.
With results like this, the market picture has grown notably cloudy, or perhaps the market is trending towards saturation, the frequent sales and frequency of blue-chip trophies changing hands making for a less appealing environment for collectors. No matter why, the major auction houses have only a few days to reflect, as the proceedings continue next week with the Contemporary and Post-War Sales.
— D. Creahan
Sotheby’s Impressionist and Modern Evening Sale [Sotheby’s]
Sotheby’s Fails to Reach Low Estimate at Modern Art Auction [Bloomberg]
Christie’s Impressionist and Modern Evening Sale [Christie’s]
With two nights of auctions now concluded, a choppy look at the contemporary art market has emerged, as Sotheby’s, Phillips and Christie’s strung together a series of occasionally surprising, mixed sales over the course of last night and this evening. The auctions, which mark the last major sales for the U.S. outposts of the international houses before summer recess, saw a number of impressive auction records, as well as a series of high profile works that failed to find a buyer, a note that left many puzzling over the immediate future of the Contemporary field.
Mark Rothko, Untitled (1969), Price:$18,856,500, via Sotheby’s (more…)
With another auction come and gone in New York, Christie’s has posed quite a challenge to its competitors last night, closing out a well-run sale with strong results and a set of major auction records broken. The 37-lot sale was well-appointed, and the sale moved steadily through its paces, ultimately finishing at a final tally of $416,040,000 with only 4 lots going unsold. (more…)
A marathon week of auctions in New York is now underway, but not quite off to a roaring start, as Sotheby’s capped an unsteady and often struggling auction this evening at its uptown location. Led by a strong performance by an Amedeo Modigliani masterpiece, the sale failed to achieve much beyond its marquee lots, ultimately capping the sale with 13 unsold works that brought the sale to a final tally of $318,313,600.
AO Auction Results – New York: 19th and 20th Century Works from the Collection of David and Peggy Rockefeller at Christie’s, May 8th, 2018Wednesday, May 9th, 2018
With the final bids placed and the hammer falling on the last lot of the evening, Christie’s has closed the book on an outstanding outing, concluding the star evening sale of its spring season, the sale of the David and Peggy Rockefeller Collection. A jewel of modern art collection, the works from the family’s holdings were wide and deep enough to fill several evening sales in Christie’s calendar this week, with this 19th and 20th Century Sale serving as the main event. It did not disappoint.
The second night of London’s Post-War and Contemporary Evening Sales has wrapped, as Sotheby’s capped a 61-lot auction outing that reached a final tally of £109,292,700. Achieving a solid price for the sale despite some underperforming lots and a handful of unsold works. The sale seemed to underscore a market whose highest selling works are still stuck in a state of relative uncertainty, with certain bets and guaranteed prices far less reliable than in recent years.
The art world’s market focus has split between London and New York this week, as Armory Week kicks off in New York, and a trio of major contemporary auctions hit the British capital. The week’s sales got its first indicator of health for the Contemporary and Post-War Market as Christie’s capped the first night of sales, closing a 65-lot offering with moderately strong results, ultimately achieving a final tally of £137,989,750 with only five lots going unsold. (more…)
The first tests of the Impressionist and Modern market for 2018 are now in the books, as Sotheby’s capped a brief but action-packed sale this evening in London, ultimately achieving a final of £118,932,000 despite a handful of unsold works. There was little room for error in the 21-lot sale, which seemed primarily organized around several marquee works and a selection of works that garnered very little interest. (more…)
With a few brief wobbles, the first evening of two weeks of auctions in the British capital has concluded, bringing solid results and a final of £114,103,000 for Christie’s auction house this evening. The sale saw most of its premiere works moving quickly over the course of the evening, with 11 works going unsold, including one of the sale’s lead lots, a Kees van Dongen portrait.
AO Auction Results – New York: Phillips 20th Century and Contemporary Evening Sale, November 16th, 2017Thursday, November 16th, 2017
Throwing its hat into the ring on a bustling week of sales in New York, Phillips concluded its offering in the 20th Century and Contemporary Auctions , bringing a final tally of $113.9 million for its 44-lot sale. The Phillips event was a quick affair, running mechanically through its offerings to achieve its result, with only a small handful of works going unsold. (more…)
The final hammer has fallen and the doors have closed on the final major art sales of 2017, as Sotheby’s concluded its Contemporary Evening Sale tonight at its York Ave location in New York. Capping a 74-lot offering with a steady, well-run sale, the auction house achieved a final tally of $310,229,350, bringing the week’s marathon auctions to a close
AO Auction Results – New York: Christie’s Post-War and Contemporary Evening Sale, November 15th, 2017Wednesday, November 15th, 2017
Capping its second major sale of the week, and likely one of the more momentous sales of work in recent history, Christie’s capped an astronomical sale this evening in New York, complementing its Contemporary offerings with the much trumpeted Leonardo Da Vinci work Salvator Mundi to reach a record sale total of $785,942,250.
AO Auction Results – New York: Christie’s Impressionist and Modern Evening Sale, November 13th, 2017Tuesday, November 14th, 2017
The first of the fall’s New York auctions kicked off this evening, as Christie’s capped the first of the week’s Impressionist and Modern Evening sales, surging out of the gate with a strong series of sales that set an impressive tempo for the week, and laid down an impressive challenge to the other auction houses. Notching a final sales total of $480,414,000, Christie’s sent a strong message of stability in a year marked by uneven, unpredictable auction sales. (more…)
Marking the final night of auctions before the market’s slow summer months, Phillips Auctions in London capped a buoyant sale that served as an emphatic close to two weeks of sales in the British capital. Moving gradually through a 31-lot sale with slow, steady bidding, many works hung on the auction block for some time, coaxed up to estimate or beyond, with only 3 works going unsold, ultimately bringing the evening to a close on a figure of £24,373,000. (more…)
Marking its entry in London’s final week of major evening auctions for the first half of 2017, Sotheby’s closed a small, 41-lot proceeding this evening in its Contemporary department, running through its offered works with impressive results and steady bidding that ultimately brought home a final total sales figure of £62,325,750 for the sale. Bounding through its lots, leaving only works unsold, the sale offered a high note for the contemporary market’s continued strength. (more…)
Continuing a series of auctions this month in London, Christie’s capped its Impressionist and Modern Art Evening Sale tonight at its King Street location in the British capital on a relative high note. The decidedly subdued, yet well-appointed auction closed on a final tally of £149,500,000 for its 33 lot offering, with only a small fraction of works going unsold (94 per cent sold by lot) over the course of the proceedings. (more…)
AO Auction Results – London: Sotheby’s Actual Size Curated Sale and Impressionist and Modern Evening Sale, June 21st, 2017Friday, June 23rd, 2017
Holding court with a short but well-appointed pair of sales in London, Sotheby’s kicked off a week of auctions in the British capital, closing its Impressionist and Modern Evening sale with a string of impressive figures and a new auction record for Wassily Kandinsky at £33 million, ultimately bringing a final sales figure of £127,945,750. The night also saw a short curated sale, “Actual Size” precede the evening’s main event, which saw mixed results and a £20,931,250 final tally for its offering.