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 (more…)

Claude Monet, Le Palais Ducal (1908), via Sotheby’s

With the month of February drawing to a close, the major auction houses are gearing up for their first real test of the year, with a string of auctions set to take place over the course of the following weeks in London.  Marking major sales for both the Impressionist/Modern and Post-War/Contemporary categories, the next two weeks should offer some perspective on how the secondary market is faring in relation to what seems to be an energetic but slightly smaller fair circuit. (more…)

David Hockney, Portrait of an Artist (Pool with Two Figures) (1972), Final Price: $90,312,500, via Christie’s

After a marathon of sales this evening, running through a heavy first snowfall of the year in New York, the Contemporary and Post-War Evening Sales are a wrap, closing out the year on a high note.  Over the course of two consecutive evenings, the auction houses orchestrated a smooth-running series of sales that saw a number of major records fall, and a number of strong results.

Jean Michel-Basquiat, Untitled (Pollo Frito) (1982) Final Price: $25,701,500, via Sotheby’s (more…)

Rene Magritte, The Pleasure Principle (1937) Final Price: $26,830,500, via Sotheby’s

The first batch of sales for New York’s bustling auction week have come to a close, as Christie’s and Sotheby’s capped their Impressionist and Modern Evening Sales in New York.  Both sales seemed to rock back and forth between major milestones and less impressive results, as buyers seemed tentative to pursue large trophy works or pieces boasting higher estimates.   (more…)

Jenny Saville, Propped (1992), via Sotheby’s

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…)

Lucian Freud, Portrait on a White Cover (2002-2003), via Sotheby’s

Following up on a set of sales that can best be described as unsteady last week, the London auction houses return again today for a trio of sales that will once again test the market strength for the upper echelons of the Post-War and Contemporary segment.  Taking over the British capital for the last bout of auctions before a long summer recess, this set of sales should see an attempt to overcome sluggish interest and achieve a strong closing note for the first half of the year. (more…)

Pablo Picasso, Buste de femme de profil (Femme écrivant) (1932), via Sotheby’s

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.

Joan Miro, Peinture (1933), via Sotheby’s

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.

Alberto Giacometti, Le Chat (1955), via Sotheby’s

Franz Marc, Drei Pferde (1916), via Christie’s

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.

Claude Monet, La Gare Saint-Lazare, vue extérieure (1877), via Christie’s

Pablo Picasso, Femme dans un fauteuil (Dora Maar) (1942), via Christie’s

— D. Creahan

Read more:
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]

Pablo Picasso, Buste de femme de profil (Femme écrivant) (1932), via Sotheby’s

With the bustling week of sales and exhibitions in Basel now capped, the final major auctions of the spring are set to take place in London, as two weeks of auctions will look to test the waters of a market seemingly on the rebound after a strong outing earlier this season in New York.  Beginning this week with a pair of Impressionist and Modern Sales, the week’s proceedings should make for an intriguing wrap up of the first half of 2018.   (more…)

Kerry Marshall, Past Times (1997), Price:$21,114,500 via Sotheby’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…)

Kazimir Malevich, Suprematist Composition (1916), Price: $85,812,500, via Christies

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…)

Pablo Picasso, Fillette a la corbeille fleurie (1905), price realized: $115,000,000, via Christie’s

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.

Joan Miro, Mural I, Mural II, Mural III (1933), price realized: $20,000,000, via Christie’s

(more…)

Amedeo Modigliani, Nu Couché (Sur le CoÌ‚té Gauche) (1917), via Sotheby’s

With the weather gradually warming, and thoughts turning to the summer months in New York, the art world will once again look to the Big Apple for a last major auction of the spring season.  With a packed week boasting a string of sales spread over 10 days, the week’s offerings will make for a pointed cap to the preceding week at Roosevelt Island, where Frieze New York will has drawn to a close.  With a number of impressive highlights, chief among them the collection of David and Peggy Rockefeller at Christie’s, the spring sales in New York should offer a few impressive exclamation points to add to an already packed month of market offerings. (more…)

Jean-Michel Basquiat, Multiflavors (1982), via Christie’s

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…)

Pablo Picasso, Mousquetaire et nu assis (1967), via Christies

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.

Edgar Degas, Dans les coulisses (1882-1885), via Christies

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Pablo Picasso, Femme au béret et aÌ€ la robe quadrillée (Marie-ThéreÌ€se Walter) (1937), via Sotheby’s

Marking the first major test of the secondary market for this 2018, the major auction houses are preparing to open their doors for a series of marquee evening sales in London this coming month.  Trying both the Impressionist/Modern and Post-War categories with top selections of works, the sales at Sotheby’s, Christie’s and Phillips will offer a look at just how strong the market is rebounding since a long stretch of inactivity and stagnancy. (more…)

Leonardo da Vinci, Salvator Mundi (circa 1500) final price: $450,312,500, via Christie’s

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.

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Fernand Léger, Contraste de formes (1913), final price: $70,062,500, via Christie’s

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…)

Leonardo da Vinci, Salvator Mundi (circa 1500), via Christie’s

As the weather grows increasingly chilly, the art world turns its blue-chip market attention towards New York City once again, where a final series of major Impressionist/Modern and Post-War/Contemporary Evening Sales will open at the major auction houses, once again offering a test of the market’s current strength.  With a last flourish on a year that has packed ample surprises into its market proceedings, this final sale will feature a series of landmark works, chief among them the offering of an extremely rare Leonardo Da Vinci canvas, a work that has already created a storm of chatter among art world insiders. (more…)

Francis Bacon, Head with Raised Arm (1955), via Christie’s

The week of auction sales in London concluded Friday evening, as both Phillips and Christie’s held their Contemporary and 20th Century Evening Sales, achieving modest results that did little to bolster a distinctly quiet sale the night prior at Sotheby’s.  For those looking for a strong confirmation of the market’s strength in a turbulent political climate worldwide, the sale offered little in the way of stability, with some top lots failing to find a buyer, while others just managed to sell at estimate.

Adrian Ghenie, The Collector 4 (2009), via Phillips

(more…)

Francis Bacon, Study of Red Pope 1962. 2nd Version 1971 (1971), via Christie’s

Making its stamp on Frieze auction week in London, the big auction houses are planning a string of major Contemporary and Post-War Evening Sales in the coming weeks, marking the first time the secondary market will be tested in the second half of 2017.  With sales at Christie’s, Sotheby’s and Phillips packed into a pair of evenings in the British capital, the first days of October should offer an interesting look at how the market has continued to respond to turbulent world events, unstable buying patterns, and the demanding pace of the current market schedule.

Andreas Gursky, Los Angeles (1999), via Phillips

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Max Beckmann, Hölle der Vögel (1937-38), final price: £36,005,000, via Christies

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…)

Cy Twombly, Leda and the Swan (1962), via Christie’s

The week’s long stream of major auction sales saw another strong outing by Christie’s last night, with the auction house cruising through a 71 lot outing to reach a final tally of $448.1 million with only a handful of pieces going unsold.  The sale, which saw an overwhelming push from American buyers, meets early rumblings about a recovering market, and hints at continued growth over the coming months. (more…)

Kazimir Malevich, Suprematist Composition with Plane in Projection (1915), via Sotheby’s

The Impressionist and Modern Sale at Sotheby’s this past evening has closed out the early week’s offerings in that market, capping a $173.8 million sale that saw few major highlights or sparks in bidding, a marked contrast from the occasional fireworks of Monday’s sale at Christie’s.  Despite early claims by Sotheby’s that the auction market was gradually strengthening again after several tepid sales in past months, the past evening’s outing in New York saw somewhat modest results that paled in comparison.  The sale’s sell-through rate hovered at 74%, tempered by the early withdrawal of an Egon Schiele work some had anticipated would reach over $30 million. (more…)

Contantin Brancusi, La Muse Endormie (1913), via Christie’s

The first auction of the week has come and gone in New York, as Christie’s notched an impressive outing for its Impressionist and Modern Evening Sale, confirming expectations of a solid return of buying interest in the secondary market.   Considering the past several outings for the auction houses in London and New York, where only a handful of buyers were reportedly keeping the market afloat, this week’s sales hit a different note entirely, with ample phone bids that saw one major auction record fall with Constantin Brancusi’s La Muse Endormie demolishing expectations at over $57 million, and marquee lots performing quite well over the course of the evening.  (more…)