Claude Monet, Iris Mauves (1914-1917), via Christie’s

The London summer auctions are underway, after Christie’s opening sale this evening at its King Street location, a steady if somewhat relaxed sale that seemed a markedly subdued affair compared to the fireworks the auction house saw last month in New York.  Capping the 52-lot sale with a final tally of £71,461,000, the evening was still a strong entry in the auction house’s recent outings.  Despite lackluster bidding, the sale achieved a remarkably strong sell-through rate, with only 8 works going unsold.  The auction house seemed content to let a number of works go just below estimate, continuing a commitment to a sales-first strategy outgoing president Steven Murphy had outlined late last year. (more…)

Continuing a week of announcements regarding next month’s auctions, Christie’s has revealed that it has acquired the Sonnabend Collection for its May sales in New York, valued at $50 million.  The Collection has never before been offered on the secondary market.  “Many of Sonnabend’s exhibitions helped determine the course of art history in the late 20th Century,” says Laura Paulson, Christie’s chairman for post-war and contemporary art. “She discovered and promoted some of the most significant artists of her time.” (more…)

Sotheby’s will bolster its May 12th Contemporary Evening Auction in New York next month with a brilliant, 1954 Mark Rothko, the New York Times reports.  Untitled (Yellow and Blue), which formerly sat in the collections of both Bunny Mellon and François Pinault, is estimated to achieve between $40 and $60 million. (more…)

Pablo PIcasso, Tête de Femme (1935), via Sotheby’s

The fall New York auction season is set to commence this evening with Christie’s Impressionist and Modern Art Evening Sale, followed by Sotheby’s Impressionist and Modern Art Sale on Wednesday evening.  The following is a preview of sales of the week.

Fernand Léger, Élément Méchanique (1920), via Sotheby’s (more…)

A broad selection of works from the late collector Jan Krugier’s enormous art collection is set to go to the auction block on Nov. 4th and 5th at Christie’s in New York.  Consisting of 156 works, the selection of works includes an incredible 29 Picassos, as well as works from Henri Matisse, Alberto Giacometti, Joan Miró, Jean-Michel Basquiat, Georgia O’Keeffe and Robert Rauschenberg, with a total estimated value of $170 million.  “Krugier saw himself as but a temporary possessor of these works. I think he’d rather like it.”  Said Christie’s deputy chair Conor Jordan. (more…)

The auction room at Christie’s, via Christie’s

With the conclusion of Contemporary Art Auction Week yesterday in London, dealers, collectors and artists headed home, having seen well over $200 million exchanged during what many are calling a particularly successful season.  This year, Asian, Russian, and other international collectors continued to make their presence known, including a number of first- time bidders who swooped in one some of the more highly valued works available.  (more…)