Andy Warhol, One Dollar Bill (1962), via Sotheby’s

The results are in for Sotheby’s Evening Sale tonight, drawing the first half of the 2015 market year to a close with a mixed sale that saw impressive strength in unexpected places and a number of major letdowns at the higher end of the sale, ultimately closing on a final tally of £130,376,500, well shy of the £203 million mark the auction house had trumpeted earlier this month, with 9 of the 58 lots going unsold. (more…)

Francis Bacon, Study for Head of Isabel Rawsthorne and George Dyer (1967), via Christie’s

Another auction come and gone for Christie’s tonight in London, and another set of strong results, as the auction house capped a 76 lot sale to the tune of £95,646,500, meeting expectations, and setting several records for non-blue chip artists along the way, with 10 lots going unsold, including a string of Gerhard Richter works that may signal a downturn in the artist’s market popularity. (more…)

Ai Weiwei, Circle of Animals/Zodiac Heads (2010), via Phillips

Sales have concluded at tonight’s Contemporary and Post-War Evening Sale at Phillips Auction House in London, capping a strong outing by the company that saw 10 of the 53 lots going unsold.  With somewhat sluggish proceedings and a few surprises, the auction seems to be something of a stumble in Phillips’ attempts to challenge the larger auction houses this week.

Sigmar Polke, Carnival (1979), via Phillips (more…)

Artist Cady Noland has repudiated another one of her past works this month, sabotaging a $1.4 million sale for Log Cabin Blank with Screw Eyes and Cafe Door, a work which she denounced after learning of the new owner’s plans to restore the piece’s rotted wood.  “Noland angrily denounced the restoration of the artwork without her knowledge and approval,” a complaint collector Scott Mueller filed in New York Federal Court this Monday. “She further stated that any effort to display or sell the sculpture must include notice that the piece was remade without the artist’s consent, that it now consists of unoriginal materials, and that she does not approve of the work.” (more…)

An outcry by Irish cultural and business elite has led to a postponed Old Masters sale at Christie’s, which was planning to sell a selection of works taken from a crumbling home outside of Dublin.  An initial offer by a group of donors to purchase the pieces led to a hold on the sale, which included works by Rubens and Francesco Guardi. (more…)

Kazimir Malevich, Suprematism, 18th Construction (1915), via Sotheby’s

The Impressionist and Modern sale has concluded at Sotheby’s tonight, with 51-lot sale that failed to live up to the auction house’s pre-sale proclamations of a record breaking sale.  The auction brought a final total of £178,590,000, falling just shy of the £186.44 million record for London auctions it was expected to beat. (more…)

Sotheby’s is looking to break the record for the most expensive art auction in London this week, with an Impressionist and modern sale expected to top £203 million.  “The forthcoming sale offers a rich range of highly desirable works, including those that rank among the finest by Manet, Degas, Klimt, Malevich, Gauguin and Miro,” says Helena Newman, global go-chairman of Sotheby’s Impressionist & Modern Art department. (more…)

Richard Prince, Original (Installation View)

Richard Prince’s Original series is currently the subject of a new exhibition at Gagosian Gallery, nestled at the gallery’s Upper East Side bookstore showroom, and using Prince’s ‘arrangements’ of soft-core adult novels with artworks created for their covers, showing the next step in the artist’s fascination with collecting, ownership and presentation.  An ardent, perhaps even obsessive collector himself, Prince often mines and unfolds worn and sometimes clandestine images, not only from vintage pulps, which serve for the selection here, but also from copies of influential literary pieces, a pattern the artist has studied throughout his career of media appropriations.  A devoted member of a group of artists who started experimenting with appropriation in the ‘70’s, Prince usually employs minimal alteration to his subject matter; rearranging, editing and sometimes even rephotographing what already exists. (more…)

An article in Bloomberg this week traces the path of stolen art from theft through to sale, accounting for the variations in strategy by thieves for maximizing returns on what are often considered unsellable works.  “Sometimes people don’t even recognize that the art’s gone missing” says Bonnie Magness-Gardiner, head of the FBI’s art-theft program. “It could be in a storage facility, or in the basement of someone’s house, and it can often be years before anyone notices it’s gone.”  (more…)

Sotheby’s has announced that its London Impressionist and Modern Evening Sale, scheduled for June 24th, will lead with Edgar Degas’ iconic sculpture Petite danseuse de quatorze ans, estimated at £10-£15 million.  “The artist’s ambitious and highly innovative work marks the pinnacle of his achievements as a sculptor, and its forthcoming sale represents a rare opportunity to acquire an icon of Impressionist art,” says Helena Newman, Sotheby’s Co-Head of Impressionist & Modern Art Worldwide. (more…)

The New York Post quotes an unnamed source disclosing that the mystery buyer of the record setting, $179 Million Pablo Picasso several weeks ago in New York is former Qatari Prime Minister Hamad bin Jassim bin Jaber Al Thani.  “The painting almost certainly will not go on public display in Qatar because of the nudity, even though it is a cubist work,” the source says. (more…)

Continuing her fundraising quest through the sale of her grandfather Pablo Picasso‘s estate, Marina Picasso is selling her inherited villa in Cannes, La Califnornie, a space she has already seen a €150 Million offer for. “Of course I’m selling,” she says. “But it’s also a way to share.” (more…)

Art Basel’s Popular large-scale installation section, Unlimited, has released a 74-artist roster for its upcoming edition next month in Switzerland, including work by Martin Creed, Olafur Eliasson, Jeppe Hein, Robert Irwin, and many more.   (more…)

Francis Bacon, Seated Woman (1961), via Phillips

The Phillips Contemporary Evening sale has concluded, bringing to a close a week full of fireworks and smashed records with a relatively lackluster sales event that saw several impressive sales, countered by a number of less than exceptional performances.  Of the sale’s 71 lots, 14 went unsold, and few others managed to surpass high estimates, bringing the final sales tally to a respectable $97,100,000.   (more…)

Lucian Freud, Benefits Supervisor Resting (1994), via Art Observed

Christie’s has concluded the first days of Frieze week in style tonight, continuing its impressive performance over the course of the Contemporary Auction week with a strong sale tallying $658,532,000.  Selling 72 of the 85 lots offered, the sale saw several major records fall during the course of the evening, signaling the intense enthusiasm for the contemporary market both in the U.S. and abroad. (more…)

Richard Tuttle, Aspect XII (2015), via Pace

As the New York art world returns home following the Biennale previews last week, the first days of the Frieze Art Fair are set to get underway.  Opening its doors to VIPs this Wednesday, May 13th, the fair brings a number of events, openings and exhibitions along with it, marking the last major fair week in the U.S. for several months, and penultimate major fair week internationally before the slow summer months. (more…)

The Ninth Circuit Court of Appeals has ruled that the California Resale Royalties Act is unconstitutional, but has allowed the law to remain on the books if the objectionable portion of the law is removed, keeping the resale royalty provided the sales take place within California.  Some speculate as to wether this may prevent major auctions from happening in the State.   (more…)

Claude Monet, Nymphéas (1905), via Art Observed

The first night of the bustling spring auction week is underway, as Sotheby’s concluded a somewhat unsteady sale last night of Impressionist and Modernist masterpieces that achieved a final of $368,344,000, well over the auction house estimate of $270,000,000.  The final tally saw 14 of the 64 lots go unsold over the course of the evening, which will be the last major Impressionist and Modern sale of the first half of the year on U.S. soil. (more…)

A Cy Twombly blackboard painting may have sold for $60 million in a private sale, Marion Maneker of the Art Market Monitor reports, taking the news from active Twombly collectors.  If confirmed, the price would come close to the record-setting sale of a similar work last year by Nicola Del Roscio, Twombly’s former assistant and head of his foundation. (more…)

An article in the New York Times notes an increasing trend towards museums deaccessioning parts of their collection in order to cover budget gaps, even in the face of staunch opposition from critics and board members.  “If you want to safeguard cultural identity, you cannot sell the best pieces of your collection,” says  Marilena Vecco, an assistant professor of cultural economics at Erasmus University in Rotterdam. “This is the challenge for all museums.” (more…)

An article in The Atlantic this past week acknowledges the 25th anniversary of the notorious Isabella Stewart Gardner Museum theft in Boston, and examines the public fascination with art heists, examining this phenomenon against the difficulty in unloading stolen works of such cultural prestige.  “The true art isn’t the stealing, it’s the selling,” says Robert Wittman, founder of the FBI’s Art Crimes division. (more…)

Following up on the claims for serious market contention made by new chief Edward Dolman, Phillips has landed a major private collection for sale in the coming months, valued at nearly $35 million.  The works, which include a Brice Marden estimated at $8 million to $12 million, and a Ed Ruscha valued at $2 to $3 million, will be sold at the auction house’s Contemporary Evening sale in May, with some others being reserved for a special photography sale.  “They were interested in art of their time,” says advisor Allan Schwartzman, who helped build the collection. “There is a lot of abstract work and work where the imaging is involved with the natural world.” (more…)

New research confirming the painting Moulin d’Alphonse as the work of Van Gogh has led to its exhibition for the first time in 100 years, The Guardian reports.  The piece, identified by a series of small numbers on the back of the work (traced to Van Gogh’s sister in law, Johanna), will be unveiled at TEFAF Maastricht, and is for sale for around $10 million.  “Johanna was left with the life’s work of this artist, her brother-in-law who, in theory, she had mixed emotions about. But she set about trying to build a legacy for him,” says lead researcher and art dealer James Roundell.  “She could have just burned the lot because, at that point, Van Gogh had no real market.” (more…)

A pair of brothers have been arrested in Spain following the sale of a fake Goya painting.  The brothers’ attempts at selling the fraudulent painting was rewarded with more trickery by their customer, reportedly a sheikh who  paid them 1.7 million in fake, photocopied Swiss Francs (€1.5 million).  The brothers were arrested after the smuggled counterfeits were discovered in Avignon. (more…)