AO Art Observed™

Desmond by Jean Michel Basquiat, up for auction at Christie’s Post-War and Contemporary Art Auction, via Christie’s

In addition to selling a rare portrait by Francis Bacon, Christie’s October 19 auction catalogue features a long list of post-war luminaries. Several portraits of Mao and Marilyn Monroe by Andy Warhol figure prominently among the auction’s offerings. A sculpture by Jeff Koons, as well as pieces by Jean Michel Basquiat, Gerhard Richter, Richard Prince, Anish Kapoor, Willem de Kooning, Lucian Freud and a plethora of other artists account for the rest of the lots. The priciest of 48 lots is expected to be Lucio Fontana’s canvas, Concetto spaziale, la fine di Dio, which should fetch around £12 million pounds ($21.8 million).

Christie’s: Post-War and Contemporary Art Evening Sale
Christie’s: Press Release for Post-War and Contemporary Art Evening Sale
Fontana work may fetch $21.8 million in Record Christie’s Sale [Bloomberg]
Bacon Portrait Expected to Sell for £7.5 million at Christie’s Auction in October [ArtObserved]

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Terence Koh at his Chinatown studio via BlackBook

Terence Koh’s “personal” fashion style [Blackbookmag]
15 years of Contemporary public art: Jeff Koons to Rachel Whiteread [New York Times]
Damien Hirst opening retail store next to Sotheby’s, London [Bloomberg]
More on Myra Hindly minor scandal [Guardian], previously covered here [AO]
Sotheby’s Australia fine art auction sold only 49% of its inventory [Art Market Monitor]
Hirst’s $100M Skull begins its world tour in…Amsterdam [NYSun]
Lucian Freud portrait model destroys £17M + painting [Dailymail]

Snow Scene at Argenteuil 1875 by Claude Monet (1840-1926) via Guardian

On view at Tate Britain: 18 masterpieces recently bequeathed to British National Gallery, including works by Degas, Freud, Monet, worth roughly $200,000,000 [GuardianUK]
The art/fashion, Vuitton/Richard Prince link in London [Bloomberg]
Mutualart.com’s Top Art Exhibitions for 2008 [Businessweek]
French art thief pleads guilty in botched $4.7M masterworks sale, indictment covered by AO here [NYSun] [AO]
2009 Turner Prize judges announced [TheArtNewspaper]
MOMA buys 3 Jasper Johns works for undisclosed sum (note: 2 years ago a Johns sold for $80M) [NYTimes]

Naked Portrait with Reflection, Lucian Freud (1980) via Artinfo

Christie’s held its Postwar and Contemporary Evening sale on Monday, June 30th, setting new records and selling 83% of the lots. The four largest sales came from Jeff Koons, Francis Bacon, Lucian Freud, and Andy Warhol. Other artists who were featured in the finely curated sale were Mark Rothko, Gerhard Richter, and Gilbert and George just to name a few. Out of the 48 lots that sold, 30 of them made over $1 million, and the total sale raised $172 million. This is Christie’s best result for a post-war and contemporary art sale in Europe.
Bacon Self-Portraits Fetch $34.5 Million at London Art Auction [Bloomberg]
Koons sculpture highlights record-breaking art sale [APF]
Koons record as London art sales draw to close [Reuters]
Christie’s London Bests Own Contemporary Record [Artinfo]
Record price for Koons sculpture [BBC]
Christie’s Post War and Contemporary Art Sale [Christie's]
Bacon Triptych Sells for $34.4 Million in London [NYTimes]
Dead Artists Breathe Life Into Auctions [Wall Street Journal]
Koons’s ‘Balloon Flower’ sits in St. James Square before sale at Christie’s June 30th [Art Observed]

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partying at the Art Basel via the New York Times

The 39th Annual Art Basel, visited by 60,000 guests over the course of the fair, proved to be a very successful showcase of the world’s most famous artists. Basel, on the Rhine where Switzerland meets France and Germany, created a perfect setting for wealthy collectors, art enthusiasts, and 300 international exhibitors to network and indulge among the most stylish and cultured of the art world.

Brad Pitt Buys Table at Art Basel; Mittal, Abramovich Browse [Bloomberg]
The 39th Edition of Art Basel Closes With Outstanding Results [artdaily]
Ellsworth Kelly, Basking in Basel [New York Times]
Pre-Partying With the Jet Set of the Art World [New York Times]
Russians Help Art Basel Shake Economic Woe, Falling U.S. Demand [Bloomberg]
The Art Fair Explosion and Its Fallout [WSJ]
In Basel, Contemporary Art Enjoys a Bounty of Friends [NYTimes]
Picture perfect [Financial times]
Art Basel, Switzerland, Is On, Right Now [Art Observed]

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Visitors Outside Art Basel in Switzerland via myswitzerland.com

Freud Painting Sells for $12 Million [Bloomberg]
New Freud Paintings Enter the Market [Times Online, UK]
Roman à Clef [artforum]

The painting, titled Girl in Attic Doorway and dating from the mid 1990s, was reserved during much of the fair’s preview yesterday. The work sold today via Freud’s international agent, Acquavella Galleries, for $12 million to a buyer who wished to remain anonymous. This sale follows Russian billionaire Roman Abramovich’s record-breaking purchase of Freud’s Benefits Supervisor Sleeping for $33.6 million at Christie’s last month, making the British painter “the world’s most expensive living artist.”

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Dasha Zhukova via daylife

26-year old “Dasha” Zhukova building Moscow contemporary space backed by billionaire Roman Abramovich (recent global record buyer of Freud and Bacon) [artinfo]
More on David Byrne ‘playing the building’ in New York [NY mag]
Turner Prize-winner Mark Wallinger may build 164 ft horse in Kent, UK for ‘Angel of the South’ project [Guardian.co.uk]
Christie’s Paris sells Louise Bourgeois spider for record $4.5M [Bloomberg]
A revisit of the Young British Artist Freeze show after 20 years [Guardian.co.uk]

Lucian Freud, Naked Portrait with Reflection, (1980) via Evening Standard

Following the success of Post-war and Contemporary art sales in New York, Christies has announced they will offer a rare Francis Bacon painting and a Lucian Freud masterpiece for his London auction.  These two pieces are considered the most valuable and important works to come up for auction. 

Boom for Bacon and Freud [Evening Standard]
Freud Masterpiece and Bacon Triptych Highlight Christie’s London Auction [ArtDaily]

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Russian Billionaire Roman Abramovich via impactlab

Last week’s contemporary auctions in New York were anchored by two record-setting painting sales.  Lucian Freud’s Benefits Supervisor Sleeping sold at Christie’s for $33.6 million and Francis Bacon’s Triptych sold at Sotheby’s for $86 million.  It has just been reported that billionaire Roman Abramovich was the buyer behind both deals.

Roman Abramovich [Forbes]
Abramovich Brings Home the Bacon (and Freud) [Art Newspaper]
Abramovich Sets Record Art Transfer [Times UK]
Abramovich spends $120 Million [Bloomberg]
Dasha Zhukova to open Russian Gallery [Art Newspaper]
Abramovich Revealed as Freud and Bacon Buyer [Telegraph]
Bacon Tops Biggest Sales at Sotheby’s [ArtObserved]
Freud Sets Records at Christie’s [ArtObserved]
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The Scene at Christie’s via WSJ

Last night’s Post-War and Contemporary Art Evening Sale at Christie’s brought in a total of $348.3 million, close to the top of their pre-sale range. “The very important went very high,” said fashion designer and collector Valentino Garavani.  Only 3 of the 57 lots in the auction did not sell and more than a third exceeded their estimated sale prices.

Freud’s Fat Sue Sells for $33.6 Million in New York [Bloomberg]
U.S. Buyers Drive Christie’s $350 Million Modern Art Sale [NYTimes]
Friends Francis Bacon and Lucien Freud on top of world art market [Times Online]
Eight Records at Christie’s [NYSun]
Last Night’s Sale Brings in $348 million [Conde Nast Portfolio]
Bidding Strong at Christie’s Postwar and Contemporary Art Sale [NYTimes] 
Impressionist, postwar and contemporary artworks auctions could reach $1.8bn [Financial Times] 
Record Sale for Piece by Living Artist Shattered by Freud [National] 
 

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Aby Rosen via New York Social Diary

Real Estate Mogul/Collector Aby Rosen Silent Partner with Peter Brant in Art in America and Interview [The New York Post]
Spiral Jetty threatened by energy development [Arts Journal via C-monster]
MCA Chicago Director Joins Haunch of Venison, London [Art Forum]
UK Corporate Art Spending Reaches All Time High [Financial Times]
Gap’s Fischer Family to Start Negotiations Concerning San Francisco Art Museum [Bloomberg.com]
Lucian Freud Reportedly to Paint Portrait of Actor Jack Nicholson [The New York Post]
Brian McMaster Disputes Potential for Current UK Art Scene to Rival the Renaissance [Guardian Unlimited]

via MoMA

Lucian Freud’s new show, The Painter’s Etchings, is opening this weekend at the MOMA. The show runs from December 16th until March 10th.

The Painter’s Etchings