With the closing of sales last night in New York, the major auction houses have drawn the curtain on a busy year on the secondary market, capping a trio of strong outings for Post-War and Contemporary Art that have once again underscored the state of the art market currently. A number of guaranteed sales and high estimate prices seem to have eradicated much of the surprise at the higher end of the market, but its value-setting functions remain intact, as a number of records fell over the course of the past two evenings, and a group of artists made the jump from heritage prizes to certified blue-chip bets. (more…)
Archive for the 'Auction Results' Category
Marking their entries of the week’s packed calendar of Impressionist and Modern Evening Sales, the Impressionist and Modern Sales have concluded in New York, rounding out the first half of a bustling week of sales that also caps off the second half of the year’s major secondary market sales. (more…)
AO Auction Results – London: Christie’s Post-War and Contemporary Art Evening Sale, October 4th, 2019Friday, October 4th, 2019
Capping off a week of auctions amid the hustle and bustle of London’s Frieze Week, Christie’s capped off a procedural auction in the British capital tonight, selling 41 of 46 lots to reach a final total of £64,507,125, a mark that seemed notably underwhelming after a string of works sold under estimate or near its low bound. A last note before the auctions in New York next month, the sale seemed to hint at more instability further down in the market, especially as the Britain’s exit from the E.U. grows increasingly confused, and increasingly perilous.
Taking over from Phillips steady sale last night in London, Sotheby’s launched its own take on the Contemporary Art Market, albeit one with a little more unpredictability. The sale, one of the first since Sotheby’s formally became a privately traded company, saw 5 of works go unsold, and one massive record, as Banksy demolished his previous auction high, ultimately landing the auction house at a final tally of £54,386,250. (more…)
Marking the first of a trio of sales this weekend in London, Phillips Auction House made a strong opening note on a bustling week of sales last night, pulling interested buyers to its Berkeley Square location for a 43-lot offering that saw strong results and a £25,877,250 final on the night, with only 3 works on offer going unsold.
The sale opened with a string of underpriced lots that surged beyond initial estimates, often doubling or tripling their price, among them pieces by Simone Leigh (£175,000), Nathaniel Mary Quinn (£212,500) and Tschabalala Self (£275,000). A George Condo work also performed well at £471,000, before the first pass of the evening on a Mark Grotjahn Butterfly. The sale regained its composure quickly, however, as the sale’s prized Mark Bradford finished at £1,935,000, followed close behind by a Hurvin Anderson piece that sold for the final price of £2,175,000.
The sale continued at a brisk pace over the next lots, bringing up the evening’s cover lot, an Alex Katz painting that sold quickly over estimate to the tune of £3,375,000, while a Rudolf Stingel held its ground in the next lot at £1,035,000. Momentum carried the works through the meat of the auction, with a KAWS sculpture finishing above estimate for a final price of £1,455,000, and a Thomas Schütte work, Maschine, settling at the final of £1,215,000, squarely within estimated range. A Gerhard Richter Abstraktes Bild also performed well in the following lot, closing above estimate at £1,695,000. The sale was systematic from this point on, works selling quickly to bring the sale cruising to a strong conclusion.
The next auction is this evening at Sotheby’s.
— D. Creahan
Phillips 20th Century and Contemporary Evening Sale [Auction Page]
With minimal fanfare and a steady hand, Phillips Auctions rounded out a well-managed evening sale of Contemporary and 20th Century works yesterday evening, closing a 36 lot sale to a final sales total of £35.9 million with 5 lots going unsold. The evening marks another strong and reliable outing for the auction house, making itself felt in the blue-chip market with increasingly strong results. (more…)
Following up on a steady, reliable auction last night at Christie’s, Sotheby’s came out swinging this evening, marking a £69,720,050 sale in London that showcased a relatively strong market and ample interest for works at the highest levels of the blue-chip market. The evening’s sale, which saw 4 of the 43 lots on offer go unsold, marked a strong closing for the first half of the year at Sotheby’s, and brings the season one step closer to conclusion. (more…)
Marking the first of the week’s trio of Contemporary and Post-War Auctions in London this week, Christie’s has capped a 35-lot offering to a final of $45,346,950, a strong figure that saw only three works go unsold with ample interest from buyers to keep the evening moving quickly and relatively smoothly. The sale marks something of a snap back into form for the auction house following a dire struggle last week during its Impressionist/Modern offering, and seemed to signal emerging blue-chip markets for several younger artists. (more…)
The first batch of Summer auctions are in the books in London tonight, as Sotheby’s capped off its Impressionist and Modern Evening Sale with results that seemed to emphasize a steadied ship following the announcement of the auction house’s sale to Patrick Drahi earlier this week. The auction house, capitalizing on a strong offering of works, moved methodically through the evening, selling 23 of the 25 works on offer for a final tally of £98,875,924. (more…)
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…)
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…)