The author of Seven Days in the Art World, Sarah Thornton, recently wrote in TAR magazine about why she will no longer write about the art market. Adam Lindemann’s perspective and response to her piece on writing about writing about not writing about the marketing and the market of art appeared in the Observer. (more…)
Left to Right: Nate Lowman, Rachel Feinstein, Glenn O'Brien, Sarah Thornton, Mary Boone, and Adam Lindemann.
Often times, Art Basel Miami is pigeonholed as the tropical mai-tai of the art world, all decoration and pizzazz…..and not much substance. Thus, it was refreshing when, on a quiet Friday evening December 5th, on the rooftop of the newly opened Mondrian hotel, Assouline, Accompanied Literary Society, and Intermix hosted an intimate and intellectual dinner discussion with an enviably high-caliber panel. Curated by Neville Wakefield and moderated by Glenn O’Brien, the panel included legendary art maven Mary Boone, a pregnant and radiant Rachel Feinstein, acclaimed writer Sarah Thornton (who trooped through the discussion despite having a dismal case of laryngitis), collector Adam Lindemann, and young man-about-town, artist, and significant other of Mary Kate Olson, Nate Lowman.
Words By Faith-Ann Young
Photos Courtesy of Nick Hunt / Patrick McMullen
John Currin's Nice 'n easy, 1999, an Oil On Canvas, Sold for $5,458,500, (Estimate:$3,500,000-$4,500,000)
Sotheby’s Contemporary Art Evening Sale, New York, Tuesday, November 11th
Total Lots Offered: 63
Total Lots Sold: 43 (68.2%)
Total Sales Value: $125.1 million
Total Sales Pre-Auction Estimate: $202.4 million
On the heels of its Impressionist and Modern Art sale that brought in $223 million, well below its low estimate of $339 million, with only 45 of 70 lots sold as previously covered by Art Observed here, Sotheby’s Contemporary Art Evening Sale in New York, held on Tuesday, November 11th, brought in $125 million against a $202 million estimate. The sale was 68.2% sold by lot, with 43 of 63 works finding buyers, marking the lowest selling rate for a multiple-owner evening sale of contemporary art held at Sotheby’s since November 1994. A third of the lots failed to sell, and most of the works that did sell went for less than their presale low estimate. The top lot of the sale was Yves Klein’s Archisponge (RE 11), seen below, which brought $21,362,500. Artist records were set tonight for Philip Guston Beggar’s Joys, which achieved $10,162,500; John Currin, Nice ‘N Easy (see above), which realized $5,458,500 (see above) and Richard Serra, 12-4-8, which fetched $1,650,000.
A Dreary Night for Contemporary Art at Sotheby’s [NYTimes]
Sotheby’s Contemporary Art Sale defies worst fears [Reuters]
Sotheby’s New York Evening Sale of Contemporary Art Brings $125,131,500 [ArtDaily]
$125 million at Sotheby’s Contemporary [ArtNet]
The art market: Contemporary art gets hammered [FinancialTimes]
Bare Market [ArtForum]
Eli Broad Goes Shopping as Sotheby’s Art Auction Falls Short [Bloomberg]
Currin Nudes Set $5.46 Million Record at Spotty Sotheby’s Sale [Bloomberg]
