–>
Pablo Picasso, La Lecture, 1932 (est. £12–18 million), via Sothebys.com

February’s round of major art auctions begins in London next week with Impressionist & Modern sales at Sotheby’s and Christie’s.  On Tuesday evening Sotheby’s will offer forty-two lots estimated to bring between £55-79 million. Sotheby’s will also hold a 60-lot sale of Impressionist, Modern, and Contemporary works titled “Looking Closely: A Private Collection” on Thursday, February 10th that is expected to fetch up to £54 million.  All the works in that sale are from the collection of George Kostalitz, a Geneva-based collector who died last year. Christie’s forty-six lot evening sale on Wednesday is estimated to bring £54-80 million and, as was the case last year, will be immediately followed by a thirty-one lot auction of Surrealist works estimated to fetch an additional £19-28 million. While it is uncertain whether these auctions will produce a buzz-worthy sale on par with last year’s £65 million paid for Giacometti’s L’Homme Qui Marche I, both houses are offering a number of strong works led by canvases by Picasso and Gauguin.

–>
Alberto Giacometti, Diego, 1958 (est. £3–5 million), via Sothebys.com

more images and story after the jump…

(more…)

Amedeo Modigliani, Nu Assis Sur un Divan (La Belle Romaine), 1917 (est. $40 million, realized $68.9 million), via Sothebys.com

The fall auction season in New York kicked off on Tuesday evening with Sotheby’s Impressionist and Modern sale. The 61-lot auction carried a presale estimate of $195-266 million and realized $227,561,000. Just four lots accounted for more than half of the evening’s earnings, while 15 lots were bought in. Amedeo Modigliani‘s Nu Assis Sur un Divan (La Belle Romaine) was the top lot, bringing in a staggering $68.9 million and setting the record for a work by the artist at auction.

Aristide Maillol, Torse de L’Action Enchainée, 1861-1944, at auction (est. $500-$700 thousand, realized 2.9 million), via Art Observed

More results and images after the jump…

(more…)

Amedeo Modigliani, Nu Assis Sur un Divan (La Belle Romaine), 1917 (est. $40 million), via Sothebys.com

Sotheby’s and Christie’s will both hold Impressionist and Modern sales in New York during the first week of November. Sotheby’s will offer 61 lots during the Evening Sale on November 2nd, with Christie’s Evening Sale following on the 3rd. The latter is comprised of 85 lots, and is expected to bring at least $200 million.

More text and images after the jump…

(more…)

Picasso’s Portrait d’Angel Fernandez de Soto sold to an anonymous telephone bidder for £34,761,250 – the 2nd highest price for a work of art sold by Christie’s in London (est. £30-40million)

Last night Christie’s held London’s biggest ever art auction when 46 Impressionist and Modern works racked up £153 million ($227 million), but the total was off from the pre-sale estimate of £164-231 million. While nearly quadrupling the anemic $60.4 million brought in by Christie’s at the same sale last June, tonight’s results suggest that while the art market may have recovered, pricing points are still a moving target. The sale was dominated by UK and European bidding – that includes Russia and former Eastern Bloc countries – which bought 55 percent of the lots sold, the U.S. accounted for 40 percent, and Asia for the remaining five percent. The sale saw only 46 of the 62 lots on offer sell, for a buy-in rate of 25 percent by lot and just 26 percent by value. Eight lots sold for over five million pounds and 31 broke the million-pound mark (37 works sold over $ 1million).

More text, images and related links after the jump…
(more…)

–>
Nymphéas, Claude Monet (est. £30 – 40million)

The June sales in London are packed with potentially record-breaking Impressionist and modern works that are expected to fetch a combined total of £300-450 million. If the pre-sale estimates are realized, these the most lucrative series of auctions ever held in London, easily surpassing the £298 million realized in June 2008 before the global economic meltdown during which the June sales achieved just £96 million. Giovanna Bertazzoni, Director and Head of Impressionist and Modern art at Christie’s, London has noted the recent confidence renewed in vendors in light of the the strong results witnessed at auction over the last year, “we are witnessing a great willingness from clients to consign works of art of the highest quality. There is a fierce international demand in the art market, particularly for the rarest and the best, and the market itself is now truly global as illustrated at our auction in New York in May where we saw bidding from Russia, China and the Middle East, as well as from Europe and the Americas.”

–>
Portrait of Ángel Fernández de Soto, Pablo Picasso (est. £30-40million)

More images, text and related links after the jump….
–>
(more…)

Claude Monet “Le pont japonais”, 1918-24. Oil on canvas, 35 x 39 1/2 inches, (89 x 100 cm). W.1924, MM 5091. Musee Marmatton Monet, Paris. Photo courtesy Gagosian Gallery.

Erase from your mind what you knew about waterlilies. Currently on view at Gagosian Gallery’s location on 522 West 21st Street is Claude Monet: Late Works. Straying from the artist’s better-known pastel-infused palette, the exhibition brings together 27 late canvasses with bold hues and scintillating color combinations. Many of these paintings were never exhibited in the artist’s lifetime, and some remained hidden as recently as the 1950s. Beautifully curated by Monet scholar Paul Hayes Tucker, this exhibition follows in the line of museum-quality shows the Gagosian has mounted in recent years. The gallery’s walls, transformed into elegant lavenders and greys, serve as the perfect backdrop for these exquisitely raw landscapes.

(more…)

Tobias Meyer, International Head of Sotheby’s contemporary art department. leads the Impressionist and Modern evening sale last night.

As with Christie’s historic sale of Picasso’s Nude, Green Leaves and Bust for a record $106.5 million on Tuesday evening, Sotheby’s Impressionist and Modern evening sale last night struck another strong note for the recovering art market.  The sale achieved $195,697,000, nearly reaching the high end of the pre-sale estimate ($141 – 204 million).  Fifty of the 57 lots offered sold.  Forty-three works achieved prices over $1 million, ten works exceeded $5 million, four works brought prices over $10 million, and two works sold for over $15 million; two artist records were broken. That compares very favorably to the 36-lot sale that generated $61,370,500 at Sotheby’s last May. Despite a packed salesroom, absent bidders on telephones dominated the evening’s sales – while a constant feature of this secretive market where anonymity is key, the many languages spoken by Sotheby’s representatives on the telephones last night acted as a strong indicator of the global demand for these top-quality works. Most notably, Asian buyers dominated the phones – pushing-up the prices of many of the night’s big sales and eventually winning four of the top ten lots.

Bouquet de fleurs pour le Quatorze Juillet, Henri Matisse Estimate: $18 – 25 million. Price Realized: $28,642,500.

More images, related links and a full report after the jump….
(more…)

Nude, Green Leaves and Bust, Pablo Picasso (1881-1973)

The spring auctions in New York, which form the bellwether of the art market, get under way tonight with the Impressionist and modern art sale at Christie’s.  Over the next two weeks, Sotheby’s, Christie’s and Phillips de Pury & Co are offering up to $1.2 billion of Impressionist, modern and contemporary art – twice as much as they sold last May. During the Impressionist and modern evening sales in May 2009 only three works carried price tags of $10 million or more – this month 10 works by Edvard Munch, Alberto Giacometti, Pablo Picasso and others are priced as high. Another six works are expected to fetch at least $5 million, up from four a year ago.  Judging by these optimistic pre-sale estimates, the auction houses clearly hope that things will play out as they did three months ago in London when Sotheby’s set the record for any work of art ever sold at auction with the $104 million sale of Alberto Giacometti’s L’Homme qui marche I to Lily Safra, wife of the late Lebanese banker Edmond Safra.  Now a Pablo Picasso nude bears the largest pre-sale estimate in history ($70m to $90m) and an anonymous third-guarantor who has agreed to bid at least $70 million (that’s more than the auction house got last fall for its entire evening sale of Impressionist and modern art). Christie’s are set to dominate the fortnight because of two art-stocked estates. Tonight, paintings and sculptures owned by the late Los Angeles collector Frances Brody are expected to fetch as much as $194 million.  98 lots from the estate of the bestselling author and filmmaker, Michael Crichton, are estimated to sell for as much as $75 million and form the backbone of their Post-War and Contemporary Art Evening Sale on Tuesday, May 11.

More images, text and related links after the jump…. (more…)

–>
Tacita Dean’s Christmas tree, ‘Weihnachtsbaum‘ at Tate Britain via Zimbio

The Tate has been embracing the Christmas spirit this week with a series of headlining seasonal happenings.  The Tate Christmas Tree 2009, “Weihnachtsbaum” designed by Tacita Dean, shocked critics by actually appearing “Christmassy”[Bloomberg]  This weekend, Tate Modern’s vast Turbine Hall was taken over by Rob Pruitt‘s festive ‘Flea Market’ – originally held at Gavin Brown’s Passerby gallery in New York in the late 1990s, this event was programmed to coincide with the Tate Modern exhibition Pop Life: Art in a Material World, in which Pruitt also appears [POP Magazine]

Italian police have seized works of art belonging to Carlisto Tanzi – founder of the Italian firm Parmalat who collapsed in a massive fraud scandal in 2003. The 19 paintings and drawings, included works by Picasso, Monet and Van Gogh, and is estimated to be worth more than 100million euros [BBC News]

–>
Antony Gormley’s Event Horizon that will appear in New York’s Madison Square Park in March 2010 via ArtInfo

Antony Gormley has announced plans to install 31 nude sculptures cast from his own body in and around Madison Square Park in Manhattan’s Flatiron District beginning March 26 [NY Times]

to stay apprised of the latest relevant news of the art world read more…..
–>
(more…)

La Palais Contarini (1908) by Claude Monet, via Helly Nahmad Gallery

Now on view at Helly Nahmad Gallery in London is a retrospective of the Impressionist master Claude Monet. The exhibition highlights the artist’s trips to London and Venice and the series works he created at the beginning of the century.  The character of each city is depicted through beautiful atmospheric effects of luminous sunlight or heavy London fog.  This exhibition is very significant and notable in its presentation of a major impressionist in a private, intimate gallery space.  The Financial Times calls the retrospective “the most beautiful exhibition in London this winter.”

More text, images and related links after the jump…

(more…)

Jeune Arabe, Kees Van Dongen (1877) sold for $13.8 million – a new record for the artist

In contrast to the slim pickings made available to buyers at Christie’s Modern and Impressionist Evening sale on November 3, last night’s sale at Sotheby’s offered many iconic works that had bidders excited and which resulted in an auction that Simon Shaw, Head of Sotheby’s Impressionist and Modern Art Department in New York described as “a shot in the arm for the art market. A real vote of confidence.” The evening’s auctioneer Tobias Meyer, Sotheby’s Worldwide Head of Contemporary Art, commented that after all his time at Sotheby’s he had never seen such an active sale. And indeed it was, with a grand total of $181,760,000 over a high-end estimate of $163,600,000, this sale marked the first time since May 2006 that Sotheby’s in New York have exceeded their top estimate.

L’Homme qui Chavire, Alberto Giacometti – an instantly recognizable icon of the modern era cast in 1951. Sold for a remarkable $19,346,500.

More text, images, related links and video after the jump….

(more…)

Danseuses, Edgar Degas (1896) all images via Christie’s

Last night, November 3, the fall auction season in New York kicked-off at Christie’s with their Impressionist and Modern evening sale – the smallest since May 2004. While vigorous bidding wars ensued for the finer pieces in the sale, there was no escaping the deathly silence that occurred when auctioneer, Christopher Burge, called for bids on a number of the auction highlights which included works by Camille Pissaro, Henri Matisse and Pablo Picasso, that eventually went unsold. Of the 40 lots on sale, 28 sold – making the overall total of $65,674,000, under the low-end estimate of $68,650,000.

More text, images and related links after the jump….
(more…)

Tête de femme, Pablo Picasso (1943) estimated to sell for between $7,000,000 and $10,000,000 at Christie’s Modern and Impressionist evening sale tonight. via Christie’s

Christie’s Modern and Impressionist sale this evening, November 3, marks the beginning of the fall auction season in New York. Headlining tonight’s sale are works by Edgar Degas, Claude Monet, Piet Mondrian and Henri Matisse. Tomorrow Sotheby’s will follow with their Modern and Impressionist evening sale which is highlighted by Alberto Giacometti’s bronze Falling Man, estimated to sell for $8 million – $12 million along with works by Pierre-Auguste Renoir, Camille Pissarro and Giacometti’s fellow modern masters Wassily Kandinsky, Joan Miró and Pablo Picasso. The combined total of the evening and day sales from both auction houses is estimated at as much as $607 million, down from $1.7 billion just two years ago.

ArtObserved will be on site to cover the proceedings on twitter at the show and in a review tomorrow. We are set to continue our auction season coverage next week when the Contemporary sales kick-off on Tuesday, November 10, at Christie’s, Sotheby’s and Phillips de Pury & Company.

L’Homme Qui Chavire (Falling Man), Alberto Giacometti (1951) via Sotheby’s

Related Links:
Christie’s Homepage
Sotheby’s Homepage
Christie’s Impressionist/Modern Evening Sale – Tuesday, November 3, 2009 – E-Catalogue
Christie’s Impressionist/Modern Day Sale – Wednesday, November 4, 2009 – E-Catalogue
Sotheby’s Impressionist and Modern Art Evening Sale – Wednesday, November 4, 2009- E-Catalogue
Sotheby’s Impressionist and Modern Art Day Sale -Thursday, November 5, 2009 – E-Catalogue
On The Block: Traditional Offerings, Bargain Prices [NYTimes]
New House, Taschen Risking Low Prices for Art at Fall Auctions [Bloomberg]
New York Sales Preview [ArtInfo]
Up For Auction [NYTimes]
The Art World Goes Local [WallStreetJournal]
Art World Watching Sales Starting Next Week for Hints of Market Recovery [Financial Post]
As Art Auctions Shrink, Big Houses Look to the Future [Reuters]
The Art Market: Distress Sales, Iron Curtain Art and France’s Turner Prize [Financial Times]

Head of a Muse, Raphael via Guardian UK

-Offered for the first time at public auction as part of Christie’s Old Masters sale, Raphael’s drawing “Head of a Muse”- a study for a figure in one of his Vatican frescoes, if it achieves its estimate £12-16million, will break the auction record for an old master drawing currently held by Michelangelo’s and Leonardo da Vinci’s works [Guardian UK]

-As art collectors become more cautious with their purchases, dealers at Frieze and FIAC fairs put works on reserve, among them $40 million Mondrian allegedly put on hold for Bernard Arnault [Bloomberg]

-Ms. Temkin, the chief curator of painting and sculpture at The Museum of Modern Art in New York, introduces unexpected changes, unframing certain paintings and subjecting the almost sacralized permanent collection to frequent renewal [The New York Times]

“Your Mercury Ocean” Skateboard by Olafur Eliasson via aarting

-Another collaboration between Mekanism and Olafur Eliasson results in a 13-ply deck 3d patterned skateboard with a mirror coating [aarting]
-In related, Olafur Eliasson commissions by the mayor of Copenhagen to design a bridge for the Danish capital; the artist shares his plans for a transparent bridge in a close vicinity to the water [The Art Newspaper]

– The survey carried out by the Art Fund, the UK’s independent art charity, shows that despite the substantial drop in public funding and investment income, a figure that proves to grow in the context of economic fall is the number of visits to museums [Art Knowledge News]

-In the midst of economic uncertainty, gallery Matthew Marks, which represents artists such as Jasper Johns, and Peter Fischli and David Weiss, plans on expansion with a new space on the West Coast [The New York Times]

To stay apprised of most of the relevant art news for this past week… (more…)

–>
A detail from Monet’s “Water Lilies” triptych via NYTimes

After a 7-year long absence, the Museum of Modern Art has brought its Waterlilies back along with an interesting recent acquisition and two paintings on loan from The Metropolitan Museum of Art. The breathtaking triptych still holds the power to engulf the viewer in its transcendent and meditative quality. The accompanying paintings complete the experience by physically surrounding one in their lightness of color, spontaneous and sometimes pensive stroke, and a velvet-like surface that suggests a deeper psychological imprint of Monet, who worked on these particularly large pieces for years towards the end of his life. The exhibition, occupying a specially intimate gallery space, will be on view until April 12th, 2010.

Related Links:
–>
MoMA Homepage
–>
Moanin’ With Monet [ArtNet]
–>
Serenade in Blue [NY Times]
–>
Water World [New Yorker]
–>
Monet’s Water Lilies Light Up MoMA [NY Sun]
–>
MoMA Presents… [Art Daily]

More text and images after the jump… (more…)

One third of Monet’s famous triptych, ‘Water Lilies,’ via NY Times

This fall, New York’s two most venerable art museums will each each spotlight famous paintings by two old masters. The Museum of Modern Art is exhibiting all three paintings of Claude Monet’s ‘Water Lilies’ triptych together for the first time in eight years.  Also in the exhibition is a single large painting, also entitled ‘Water Lilies,’ as well as three smaller studies.

At the Metropolitan Museum of Art, the Rijksmuseum in Amsterdam has lent Johannes Vermeer’s most famous painting, ‘The Milkmaid,’ in celebration of the 400th anniversary of Henry Hudson’s voyage up the river that would bear his name. This is the first time in 70 years that the painting has been exhibited in the United States, and it joins the Met’s five paintings by Vermeer as well as works by a small number of other Dutch artists.

‘Monet’s Water Lilies’ runs September 10, 2009-April 12, 2010 at the Museum of Modern Art, and ‘Vermeer’s Masterpiece “The Milkmaid”‘ runs September 10-November 29, 2009 at the Metropolitan Museum of Art, both in New York.

Monet’s Water Lilies [MoMA]
Vermeer’s Masterpiece ‘The Milkmaid’ [Metropolitan Museum]
Serenade in Blue [NY Times]
Moanin’ With Monet [Artnet]
Nieuw Girl [Art Market Monitor]
Vermeer’s ‘The Milkmaid’ on View at a New Exhibition at Metropolitan Museum of Art [Art Knowledge News]

Vermeer’s ‘The Milkmaid,’ via Art Knowledge News

van Gogh’s “Ernte in der Provence” (1888), at Kunstmuseum Basel.

The Kunstmuseum Basel is currently showing works by the master painter Vincent van Gogh.  Seventy paintings, both better- and lesser-known, are featured in this first large-scale showing of exclusively landscape works by the artist.  The van Gogh paintings will be accompanied by a biographical video on the artist as well as forty landscape pieces by his contemporaries.  The intended result gives patrons a look at van Gogh’s contribution to the evolution of technique and concept in landscape work. The show closes on September 27.

Related links:
Kunstmuseum Basel
Switzerland’s art blockbuster of the year: Van Gogh landscapes [GenevaLunch]

Vernissage has video of the exhibition.

More images and story after the jump…

(more…)

The show is comprised of works by 63 artists, with some pieces showing publicly for the first time. The sweeping comprehensiveness of the exhibition allows for a juxtaposition of artists rarely seen. Paintings by Claude Monet accompany those by Cy Twombly and Paul Signac. Cubist Georges Braque brings the cartoons of Jean Dubufett into sharper relief. Included are Paul Cézanne and Abstract Expressionists Mark Rothko and Sam Francis, in an exhibition that shows even the pop art of Andy Warhol and the Surrealist paintings of Salvador Dalí.

Ferdinand Hodler, “le Grammont,” at Fondation l’Hermitage. Image courtesy of the museum.

Yves Klein, “ANT 20,” at Fondation l’Hermitage. Image courtesy of the museum.

Initially founded in 1984 with the Bugnion Family collection, Fondation l’Hermitage now boasts over 600 works, shown in rotation along with its temporary exhibitions. The Fondation is also home to a collection of 12th-19th century Chinese porcelain, donated by the Vergottis Foundation and on permanent display in its underground space.

René Magritte, “La Ruse Symétrique,” at Fondation l’Hermitage. Image courtesy of the museum.

Paul Klee, “Felsenlandschaft,” at Fondation l’Hermitage. Image courtesy of the museum.

Edgar Degas, “Danseuses (Danseuses au repos),” at Fondation l’Hermitage. Image courtesy of the museum.

– R. Fogel

The Beach at Trouville, Claude-Oscar Monet at The National Gallery in London. Via Guardian

It is in an attempt to embrace the traces of the artistic influences that played a part in the development of the Impressionism, that the National Gallery in London presents a show “Corot to Monet.”   The National Gallery relies almost entirely on its vast collection of 18th and 19th century French landscapes in order to chart and examine those influences while rediscovering the lesser known works that have led to the Impressionism.  The exhibition includes 90 paintings by artists like: Jean-Baptiste-Camille Corot, Pierre-Henri de Valenciennes, Simon Denis, Richard Parkes Bonington, Claude Oscar Monet, Narcisse Virgile Diaz, Camille Pissaro, Paul Huet, Thomas Jones, Andreas Schelfhout and others. The show closes 20 September, 2009.

Related Links:
Corot To Monet: Review by Jonathan Jones [GuardianUK]
Corot to Monet: A Fresh Look at Landscape from the Collection [The National Gallery]
Corot to Monet at the National Gallery, Review [Telegraph]
See Corot to Monet in London [London]
Corot to Monet, National Gallery, London [The Independent]

Making Waves: Monet’s 1864 Coastal View “la Pointe de la Héve, Sainte-Adresse” at The National Gallery in London. Via The Independent

More pictures and text after the jump…

(more…)

Pablo Picasso’s ‘Homme à l’épée’ sold for £7 million, falling squarely within estimates of £6-8 million, via Sotheby’s

Sotheby’s Impressionist and Modern Art Evening Sale last night in London yielded fairly strong results, due mainly to a slimmed down offering of high quality works. The 27 lot sale realized £33.5 million, towards the higher end of estimates of  £26.8-37.3 million, with only 4 lots going unsold and a sold-by-lot rate of 85.2% and a sold-by-value rate of 90.8%. Despite trouble finding sellers, choosing lots carefully paid off for Sotheby’s with spirited bidding throughout the auction. The sale’s big star, Picasso’s ‘Homme à l’épée,’ sold for £7 million against estimates of £6-8 million. Another late Picasso painting, ‘Nu debout,’ was the second-highest lot, selling for £4.3 million, above estimates of £3-4 million.

Sotheby’s Impressionist and Modern Art Evening Sale Results [Sotheby's]
Sotheby’s Lean Strategy Pays Off [NY Times]
Sotheby’s London auction hits target at $55 million [Reuters]
Picasso’s $11.5 Million Musketeer Tops Sale as Bargains Hunted [Bloomberg]
Homme a l’epee Sells for 7 Million and Leads Sotheby’s Sale of Impressionist & Modern Art [Artdaily]
Lot by Lot: Sotheby’s I/M London Evening Sale [Art Market Monitor]
Picasso Musketeer Tops Sale by Sotheby’s [NY Times]
En Garde! Sotheby’s Sells Picasso Musketeeer Painting for $11.5 Million [WallStreetJournal]
Picasso musketeers duel at London auction houses [The Art Newspaper]
Sotheby’s Imp/Mod Sale Small but Solid [Artinfo]
Summing Up Sotheby’s I/M Evening Sale in London [Art Market Monitor]
Homme a l’epee Leads Sotheby’s Sale of Impressionist & Modern Art [Auction Publicity]

AO coverage of Christie’s Impressionist and Modern Art Evening Sale on Tuesday

(more…)

Claude Monet’s ‘Au Parc Monceau’ sold for £6.3 million, well above its high estimate of £4.5 million, via Christie’s

Yesterday’s Impressionist and Modern Art Evening Sale at Christie’s in London realized £37.2 million, falling shy of estimates of £37.8-51.7 million, including buyer’s premium. 30 of the 44 lots offered sold, with a rate of 68% sold by lot and 84% by value. The highlight of the sale was Monet’s ‘Au Parc Monceau,’ which sold for £6.3 million, far above its high estimate of £4.5 million. Joan Miró’s ‘Peinture (Femme se poudrant)’ also attracted spirited bidding, selling for just under £4 million, against estimates of £2.2-2.8 million. The star lot, a Picasso Musketeer painting, ‘Man with sword,’ sold for £5.8 million, in the lower end of estimates of £5-7 million. Sotheby’s Impressionist and Modern Art Evening Sale takes places tonight in London.

Christie’s Impressionist/Modern Evening Sale Results [Christie's]
Only a Few Hills in the Valley of Christie’s Season-Opening Art Auction [NY Times]
£1.5m Pissarro painting looted by Nazis withdrawn from auction [Telegraph]
Christie’s London sale falls short of low estimate [Reuters]
Buyers Focus on Works Worth the Fight [NY Times]
Monet, Picasso Fetch $20 Million; Auction Shrinks 74% [Bloomberg]
Christie’s Auction of Impressionist and Modern Art in London Realises $60.4 Million [Artdaily]
Christie’s misfires on £37m Impressionist and Modern art sale [Wealth Bulletin]
Christie’s Kicks Off London Season With Modest Imp/Mod Sale [Artinfo]
Family wrangle halts sale of £1.5m Pissarro stolen by the Gestapo [TimesUK]
Family Dispute Halts Sale of Pissarro Stolen by Nazis [Artinfo]
(more…)

Pablo Picasso’s ‘Homme à l’épée’ estimated to sell between £5-7 million via Christie’s

The summer auction season starts next week with the Impressionist and Modern Art Evening Sales in London at Christie’s on Tuesday, June 23, and at Sotheby’s the following evening.  Both sales feature a late Picasso painting,part of his Muskateers series, painted by the artist on successive days and both titled ‘Man with a sword.’  The Sotheby’s Picasso is estimated to sell between £6-8 million and the Christie’s Picasso is estimated between £5-7 million. Both auction houses each offered a Muskateer painting in the spring auctions, with one failing to meet its reserve and the other selling for $14.6 million. This era of Picasso’s works has been enjoying a wave of popularity after Gagosian Gallery’s ‘Mosqueteros’ exhibition (as covered by AO here) earlier this spring gaining record attendance, as well as two major museum shows in Paris and London focusing on the artist’s late career. The Post-War and Contemporary Art Evening Sales take place on Thursday, June 25 at Sotheby’s, Monday, June 29 at Phillips de Pury, and Tuesday, June 30 at Christie’s.  Though healthy sales at Art Basel last weekend have boosted confidence in the market, this season’s estimates are down over 70% from last year.

Christie’s Impressionist and Modern Art Evening Sale, Tuesday, June 23, 2009
Sotheby’s Impressionist and Modern Art Evening Sale, Wednesday, June 24, 2009
Christie’s Post-War and Contemporary Art Evening Sale, Tuesday, June 30, 2009
Phillips de Pury Contemporary Art Evening Sale, Monday, June 29, 2009
Sotheby’s Post-War and Contemporary Art Evening Sale, Thursday, June 30, 2009
Impressionist & Modern Art Evening Sale with Specialists Helena Newman and Alexander Platon [Video; Sotheby's]
Contemporary Art Evening Sale with Specialists Oliver Barker, Cheyenne Westphal and Alexander Branczik [Video; Sotheby's]
En garde! Rival houses offer Picasso musketeers [Reuters]
Can Buying Impressionist Art Make You Happy? [Wall Street Journal]
Christie’s Resumes Cutting Jobs After May N.Y. Auctions Decline [Bloomberg]
Battle of the Picasso paintings [TelegraphUK]
London Sales Estimates Down 70 Percent From Last Year [Artinfo]
Warhol, Prince Works Fail to Save Art Sales From 70% Decline [Bloomberg]
After Basel, Dealers Have High Hopes for London Sales [Wall Street Journal]
Artworks by Goya, Fragonard, David and Turner for Sotheby’s July Old Master Paintings Auction [Art Auction Publicity]
Christie’s Post-War & Contemporary Art Auction Expected to Take £20 million [Art Auction Publicity]
Doig painting of Canadian childhood could fetch $3 M [Montreal Gazette via Art Market Monitor]
Duchamp, Miró, Marc, Monet and Picasso Highlight Christie’s Auction of Impressionist and Modern Art [Artdaily]
London Contemporary Art Auctions [The Art Collectors]
Phillips de Pury & Company Announce Highlights of the Forthcoming London Contemporary Art Sales [Artdaily]
Picasso, Monet and Giacometti, for Sotheby’s Sale of Impressionist & Modern Art [Art Auction Publicity]
Sotheby’s London Contemporary Art Evening Sale to Present Three Rare Andy Warhol Paintings [Artdaily]
The art market: Picasso endures [Financial Times]
Art Market Watch [Artnet]
(more…)

Picasso’s ‘La Fille de l’Artiste a Deux Ans et Demi Avec un Bateau’ via AP. Failed to reach its reserve, attracting one bid at $12.25 million, falling short of the $16-24 million estimate.

Hours after Standard and Poor’s downgraded Sotheby’s credit rating to junk status, citing the depressed art market, the auction house’s spring Impressionist and Modern Art Evening Sale got underway last night in New York, yielding mixed results. The auction brought in $61,370,500 against estimates of $81.5/1-8.8 million, and was 80.6% sold by lot. This year’s figure represents slightly more than a quarter of last year’s sale, which realized $208.63 million. The auction’s highest priced lots, Picasso’s ‘La Fille de l’Artiste a Deux Ans et Demi Avec un Bateau,’ put up by a victim of the Madoff Ponzi scheme, and a rare Giacometti sculpture, ‘Le Chat,’ both failed to sell.  For both pieces, the $16-24 million reserve was cited as overreaching in an uncertain market.

However, the auction did have its highlights.  A 1934 painting by Piet Mondrian, ‘Composition in Black and White, with Double Lines,’ nearly doubled its high estimate of $5 million, selling to an anonymous caller for $9,266,500 after extensive bidding.  Four paintings by Polish Art Deco artist Tamara de Lempicka, from the collection of German fashion designer Wolfgang Joop, sold for a total of $13.8 million. ‘Portrait de Marjorie Ferry’ sold for $4.9 million, a new record for the artist.

Sale of Impressionist and Modern Art Totals $61,370,500, Picasso and Giacometti Go Unsold [Artdaily]
Modern Masters Suffer at Auction [NYtimes]
Sotheby’s $61.3 Million Sale Disappoints; Picasso Goes Unsold [Wall Street Journal]
Top Lots Flop at Sotheby’s Imp/Mod Sale [Artinfo]
Sotheby’s Impressionist Sale Hits 7-Year Low as Picasso Flops [Bloomberg]
$80 Million? Try a Tenth of That. Art’s New Numbers. [NY Times]
What a Difference a Year Makes [Artinfo]

(more…)

Dans la prairie (1876) by Claude Monet; Sold for  £11,241,250 ($16,104,942), against estimates of around  £15 million. Image via Artnet.

“It was a great sale and brought back a lot of confidence to the market.” Leon Benrimon, in remarks to ArtInfo.

Christie’s evening sale of Impressionist and Modern Art, held February 4th, has been hailed by some as a confidence-building event which demonstrated that there is some vitality left in the art market, while others give credit for the auctions ostensible success to high quality pieces (often being auctioned for the first time in decades), along with low estimates and low expectations. The auction realized a total of £63.4 million or $91.2 million, well within its range of £58.8 million to £86 million. In the course of the evening, 39 of 47 lots were sold, with 4 lots sold for over £5 million, 16 for over £1 million, and 25 for over $1 million.  According to Christie’s, 54% of the works were bought by European bidders, 26%  from the U.S., 18% from the U.K. and 2 percent from Asia.

Dans la prairie, by Claude Monet, was the highest priced lot of the night despite falling below its expected range.  The painting, which was exhibited for the first time at 1877’s seminal Impressionist Exhibition, sold for £11.2 million, or $16.1 million–while the range for the painting was unpublished, it is thought to be somewhere in the £15 million range. Dans la prairie‘s subject is Monet’s wife, Camille, reading in a meadow in Argenteuil, a few kilometers north of Paris. It was bought in a single telephone bid made by Anika Guntrum, a Paris-based Christie’s specialist, on behalf of an anonymous buyer.

Monet oil tests art market [GuardianUK]
Monet Painting of Wife Sells for 11.2 Million Pounds [Bloomberg]
Monet painting sells for £11.2 million, £4 million below estimate [Telegraph UK]
Monet, Modigliani, Low Estimates Boost Christie’s London Sale [Bloomberg]
Impressionist and Modern sale nets £63.42 million at Christie’s [IHT]
Christie’s “Brings Back Confidence” [ArtInfo]
Claude Monet’s Dans la Prairie Sells for $16,164,918 at Christie’s Auction of Impressionist and Modern Art [ArtDaily]

(more…)