Capitalizing on the growing market of private art sales, Sotheby’s Auction House will open a private sales gallery in London, Bloomberg reports.  The move follows the increasing trend of discreet art purchases for blue chip works, avoiding the high-profile spotlight of the auction room.  “It’s very smart. I would do the same,” said the New York-based dealer Christophe van de Weghe. “Sotheby’s will have the same clientele for both their auctions and their gallery sales.” (more…)

Artnet’s Katherine Markley is reporting on the continued growth of the art market for contemporary female artists, focusing in particular on the work of Yayoi Kusama.  Analyzing sales figures for the last several years, Markley points out that Kusama has vastly exceeded the current sales figures for both Damien Hirst and Jeff Koons since 2007, and reframes the question of female artists’ presence in terms of comparison to direct market competitors, in favor of the 100 highest selling works list often cited in news articles and auction reports. (more…)

Danh Vo, Mother Tongue (Installation View), via Marian Goodman

The recipient of the 2012 Hugo Boss Prize, Vietnamese-German artist Danh Vo creates works that feature a layering of significances, interrelated meanings tied together through the conception, production and presentation of his work.  It is this practice of appropriation and representation that informs his recent show of new work, Mother Tongue, at Marian Goodman Gallery in New York.

Danh Vo, Lot 12. A Vietnamese Carved Ivory Tusk (2013), via Marian Goodman

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The Sacrifice of Polyxena, a painting by 17th century artist Charles Le Brun recently rediscovered in a suite at The Ritz Hotel, has been purchased by The Metropolitan Museum of Art for the price of $1.9 Million.  The museum had searched for a Le Brun for over 50 years, and seized on the chance to own the painting when it went up for auction on April 15th at Christie’s.  “No really famous expert of 17th-century painting has ever stayed in the Coco Chanel suite, apparently,” specialist Olivier Lefeuvre said when asked how the painting had hund undiscovered for so long. (more…)

The current strength of the contemporary art market has drastically raised the price for works by female artists.  Nine of the top ten prices for women painters has been set in the last five years, including a new top record for Berthe Morisot’s After Lunch.  “Whereas before we looked at female artists as the land of opportunity, with prices like these, collectors say the window is closing for gender-specificity bargain buying,” said Gabriela Palmieri, a senior vice president and contemporary-art specialist at Sotheby’s. (more…)

This May 14th, Barnett Newman’s Onement VI will go on sale at Sotheby’s Contemporary Art Evening Auction, projected to sell for $30 to $40 million.  While Sotheby’s has declined to name the seller, several dealers have identified the current owner as Microsoft co-founder Paul Allen, who purchased the painting in 2000.  “Several conservators have seen it and said it is in good condition,” says Tobias Meyer, Sotheby’s Contemporary Art Worldwide head. “It is unlined and on its original stretcher.”  (more…)

Study for Portrait of P.L.(1962), the Francis Bacon painting of his lover Peter Lacy, will go on the auction block next month as part of Sotheby’s May 14th Contemporary Art Auction in New York.  Expected to sell between $30 and $40 million, the painting could serve as a test of the art market’s current health.  Bacon’s current record at auction is $86.2 million. (more…)

Jackson Pollock’s No. 19, 1948 will be on the auction block at Christie’s next month, part of the auction house’s May 15th sale of  Contemporary and Post-War Art in New York.  A classic “drip-painting” by the artist, the work last sold at auction for $2.4 million in 1993, and is estimated to sell between $25 and $35 million.  “You can see the circular movement of Pollock’s hand,” Said Worldwide Post-War and Contemporary Art Chairman Brett Gorvy said. “It’s one of those paintings you get lost in.” (more…)

After breaking auction records for the work of Jean-Michel Basquiat twice last year, Christie’s will look to set the bar even higher for the Brooklyn-born artist’s work.  Basquiat’s Dustheads will be offered at the auction house’s May 15th Contemporary Sale in New York, with an asking price of $25 to $35 million.  The artist’s current record is $26.4 million, and a buyer has reportedly already agreed to pay $25 million.  “Collectors used to be snobbish about Basquiat since he started out painting on the streets,” Says Christie’s specialist Loic Gouzer. “But now his myth just seems to be getting fresher and more relevant with younger collectors.” (more…)

The British Government has placed a temporary export ban on a 16th century drawing by Raphael, in hopes that a British buyer will come forth to keep the work in the country.  Head of a Young Apostle (1519-1521) was sold at auction in December for £29 million, setting the auction record for a work on paper at three times its estimate.  “I hope that placing a temporary export bar on the Raphael will allow time for a UK buyer to come forward and secure this magnificent example of Raphael’s work for the nation.”  Says British Arts Minister Ed Vaizey. (more…)

Madonna has announced plans to auction off a painting from her personal collection, Fernand Léger’s Trois Femmes à la Table Rouge, and to donate the resulting proceeds education projects for young girls in Afghanistan and Pakistan.  The piece will be auctioned at Sotheby’s in New York on May 7th, and is estimated to sell for $5-7 million. “I have a great passion for art and a great passion for education,’’ Madonna said in a statement. “I cannot accept a world where women or girls are wounded, shot or killed for either going to school or teaching in girls’ schools.’’ (more…)

Domplatz, Mailand, the 1968 photo-realist painting by Gerhard Richter, will be the preeminent highlight of Sotheby’s spring Contemporary Art Evening Auction in New York, carrying an estimated price of $30-40 million.  The sale comes months after the artist’s Abstraktes Bild (809-4) set a new record for his work at auction, and has a history of impressive sales at auction, setting a previous sales high for Richter 15 years ago.  Says Sotheby’s Worldwide Head of Contemporary Art, Tobias Meyer: “The work represents the pinnacle of Richter’s technical achievement and its scale, power and visual impact rivals his celebrated abstract works. This is the work the market has been waiting for and its sale is certain to be an historic event.”  (more…)

The Cardsharps, a hotly debated work purchased by art historian and collector Denis Mahon, is set to go on view in April at the Museum of the Order of St John in London.  The piece, whose attribution to a follower of Caravaggio allowed Mahon to purchase what may or may not be an original work by the 17th century master for £50,000, is currently the subject of fierce debate over its origin, as well as a lawsuit over its attribution between Sotheby’s and its previous owner. (more…)

Sotheby’s is currently facing a lawsuit from a past customer, who discovered that a work he had purchased through the auction house was reportedly once owned by Herman Goering, the Nazi leader recognized as the founder of the Gestapo.  The piece, an 18th century painting by Louis-Michel van Loo, was sold in 2004, but was unable to be resold when questions arose about how Goering acquired the piece.  The plaintiff, Steven Brooks, claims that Sotheby’s sold the work fraudulently, knowing about its questionable origins, as well as knowing that the work would be difficult to resell. (more…)

The closing of Christie’s online auction of works by Andy Warhol has seen the auction exceed expectations, pulling in a total of $2.3 million to benefit the Andy Warhol Foundation.  With an online attendance of over 65,000 visitors, bidding for a number of works was extremely competitive, as evidenced by the sale of Warhol’s lithograph of Marilyn Monroe’s lips for $112,500, over 40 times its estimated sale price.  Christie’s has already announced its next Warhol online auction in April, focusing on the artist’s time at Studio 54. (more…)

A selection of 10 works by Andy Warhol depicting endangered species will go under the hammer later this month at Sotheby’s.  The Endangered Species series, referred to by the artist as “animals in make-up,” include a bighorn ram, Pine Barrens tree frog, African elephant, and others, is expected to sell for £250,000 to £350,000.  “I think he was making a statement by representing these animals in the same way as Monroe, the Queen, and Muhammad Ali. He wanted to highlight the issue of them disappearing.” Says Séverine Nackers, Sotheby’s head of prints in Europe. (more…)

As part of its ongoing week of Andy Warhol online auctions, Christie’s has posted an interview with the creator of Girls (and daughter of artists Laurie Simmons and Carroll Dunham), Lena Dunham, discussing her take on Warhol, and how the artist would engage with contemporary society today.  “He would watch Real Housewives. We all just have to accept that. ”  She says. (more…)

Christie’s Deputy Chair Amy Cappellazzo appeared on Bloomberg TV this week, discussing the weeklong online auction of works by Andy Warhol to benefit the Warhol Foundation, as well as sharing some of her favorite works from the auction.  “There’s a very beautiful 60’s unique print of Marilyn Monroe’s lips, which I think is just spectacular.”  She says. (more…)

Sotheby’s is being sued by a past seller for damages over a work they allegedly misattributed.  The Cardsharps, attributed by the auction house to a “follower of Caravaggio,” was sold for £42,000, and later identified as an authentic Caravaggio by its purchaser, scholar Denis Mahon, increasing its value to an estimated £10 million.  The claimant, Lancelot William Thwaytes, seeks unspecified damages, interests and costs for the value of the painting above its original selling price, but Sotheby’s is standing by their attribution.  “Our view is also supported by the market, which gave its verdict on this painting when it set the price at £50,400. ”  The company said in a statement. (more…)

The sale of Berthe Morisot’s Après le déjeuner for £6,985,250 at Christie’s Modern Art Auction this week has set a new record for female painters.  The record highlights a major difference in market value between male and female painters, with top sales for male artists far beyond that sales range.  While institutions like the Museum of Modern Art have pushed for more equitable status for female artists, some speculate that monied interests have still not caught up in appreciation of contemporary female artists. (more…)

Pablo Picasso, Femme Assise Près D’Une Fenêtre, via Sotheby’s

Last night, Sotheby’s London hosted the first of the spring’s Modern Art auctions, with a number of works quickly soaring to high prices while others struggled to meet their estimates, most notably the centerpiece of the auction, Pablo Picasso’s “Femme Assise Près d’une Fenêtre.” (more…)

Joseph Mallrond William Turner, Heidelberg With a Rainbow, via Sotheby’s

It was an unpredictable time for the art auction this past week, as collectors descended on New York City  for Christie’s and Sotheby’s spring auction of Old Masters and Renaissance art work last week, driving up prices on a number of works while other pieces failed to command bids.

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German Renaissance artist Albrecht Dürer’s 1515 woodcut “The Rhinoceros” has sold at Christie’s in New York City for $866,500, setting a new record for the artist’s works.  Originally estimated at $100,000 to $150,000, the price of the piece quickly exceeded its estimate.  While some highly valued works, including Knight, Death and The Devil failed to attract bidders, Dürer’s record price for a single work was broken three consecutive times over the one-hour auction.   (more…)

Christie’s has announced its first online only auction of works by Andy Warhol, with all proceeds going to benefit the Andy Warhol Foundation for the Visual Arts.  The auction includes a selection of highly recognizable works, as well as a number of Warhol’s photographs, and will open for bidding on February 26th.

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