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) final price:£22,464,300, via Sotheby’s

Trumpeting the sale as a “vote of confidence” following an unsteady Impressionist Evening Sale the week prior, Sotheby’s concluded its Contemporary Evening Sale tonight, marking a more balanced, even-handed outing with a £110,239,550 final tally.  Spread over 44 lots, the sale was a solidly-appointed affair, with only one work going unsold in an outing that aimed to put fears over market weakness to bed.   (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…)

Amedeo Modigliani, Nu Couché (1917), Price Realized: $157,159,000, via Sotheby’s

A marathon week of auctions in New York is now underway, but not quite off to a roaring start, as Sotheby’s capped an unsteady and often struggling auction this evening at its uptown location.  Led by a strong performance by an Amedeo Modigliani masterpiece, the sale failed to achieve much beyond its marquee lots, ultimately capping the sale with 13 unsold works that brought the sale to a final tally of $318,313,600.

Pablo Picasso, Le Repos (1932), Price Realized: $36,920,500, via Sotheby’s

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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…)

Gerhard Richter, Gelbgrün (1982), via Sotheby’s

The second night of London’s Post-War and Contemporary Evening Sales has wrapped, as Sotheby’s capped a 61-lot auction outing that reached a final tally of £109,292,700.  Achieving a solid price for the sale despite some underperforming lots and a handful of unsold works.  The sale seemed to underscore a market whose highest selling works are still stuck in a state of relative uncertainty, with certain bets and guaranteed prices far less reliable than in recent years.

Peter Doig, The Architect’s Home in the Ravine (1991), via Sotheby’s

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

The first tests of the  Impressionist and Modern market for 2018 are now in the books, as Sotheby’s capped a brief but action-packed sale this evening in London, ultimately achieving a final of £118,932,000 despite a handful of unsold works.  There was little room for error in the 21-lot sale, which seemed primarily organized around several marquee works and a selection of works that garnered very little interest. (more…)

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…)

Roy Lichtenstein, Female Head (1977) final price: $24,501,500, via Sotheby’s

The final hammer has fallen and the doors have closed on the final major art sales of 2017, as Sotheby’s concluded its Contemporary Evening Sale tonight at its York Ave location in New York.  Capping a 74-lot offering with a steady, well-run sale, the auction house achieved a final tally of $310,229,350, bringing the week’s marathon auctions to a close

(more…)

Claude Monet, Les Glaçons, Bennecourt (1893), via Sotheby’s

Following a landmark sale last evening at Christie’s, Sotheby’s took its turn this past evening in the Impressionist and Modern category, pursuing the exceptional results its rival notched over the course of the evening.  Tonight was no different, as the auction house led a wild sprint through its 67-lot sale to reach a final tally of $269,718,600. (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…)

Cy Twombly, Untitled (1962), via Sothebys

After closing out the second day of proceedings across town at Regent’s Park yesterday, collectors and dealers flocked to Sotheby’s London for the first of the week’s Contemporary and Post-War Evening Sales.  Held in conjunction with the cutting edge works on view at Frieze London this week, the sale at Sotheby’s seemed to offer something of a moment of reflection for the contemporary market, looking back at some of the masters of the 20th Century, while also offering buyers a chance to bring them home. (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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Andy Warhol, Self-Portrait (1963-64), final price: £6,008,750, via Sotheby’s

Marking its entry in London’s final week of major evening auctions for the first half of 2017, Sotheby’s closed a small, 41-lot proceeding this evening in its Contemporary department, running through its offered works with impressive results and  steady bidding  that ultimately brought home a final total sales figure of £62,325,750 for the sale.  Bounding through its lots, leaving only works unsold, the sale offered a high note for the contemporary market’s continued strength.    (more…)

Wassily Kandinsky, Bild mit weissen Linien (1913), via Sotheby’s

Holding court with a short but well-appointed pair of sales in London, Sotheby’s kicked off a week of auctions in the British capital, closing its Impressionist and Modern Evening sale with a string of impressive figures and a new auction record for Wassily Kandinsky at £33 million, ultimately bringing a final sales figure of £127,945,750.  The night also saw a short curated sale, “Actual Size” precede the evening’s main event, which saw mixed results and a £20,931,250 final tally for its offering.

(more…)

Jean-Michel Basquiat, Untitled (1982), via Sotheby’s

A pair of auctions capped off the May Evening Sales this evening, as Phillips and Sotheby’s concluded their respective Post-War and Contemporary marquee sales.  Notching a number of impressive records at both auction houses, the evening was an impressively strong final night for a week that made good on promises for the market’s slow but steady recovery. (more…)

Jean-Michel Basquiat, Untitled (1982), via Sothebys

Following a bustling two weeks of sales and shows, focus returns to New York City this week for a marathon run of auction sales that will set the stage for the summer season, offering one a chance for collectors to get their hands on marquee works before Art Basel in June marks a break in market action before the fall auction season.  Five sales in a stretch of only four days should offer buyers a range of options, with both Impressionist/Modern and Post-War/Contemporary categories seeing ample opportunities to buy.

Pablo Picasso, Femme assise, robe bleue (1939), via Christie’s (more…)