Yves Klein,  Le Rose du bleu (1960) which sold for £23.5 million (£3.5 million over its high estimate)

Last night in London, Christie’s Post-War & Contemporary Art Evening Auction experienced a stellar sale. Totaling £132.8 million against an expected excess of  £120 million, it was the highest grossing contemporary art sale in Europe. Achieving sales with an 87% sell-through rate and 98% sold by value – Christie’s sold all but 9 on it’s 71 lots – save for the 2 withdrawn. Four of the lots sold above £10 million, and five lots boosted over $10 million. Christie’s Head of Post-War & Contemporary Art, Europe, Francis Outred, was quoted in a post-sale press release: “Following the record result achieved at Christie’s New York in May, we are delighted with tonight results which established a new record for an auction of Post-War & Contemporary Art in Europe… Overall we brought together consignments from four continents, reached buyers on four continents and benefitted from a depth and strength of bidding from across the room and on the phone.”

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Shot of the Contemporary Art Evening Auction. Image courtesy of Sotheby’s.

Last night in London, Sotheby’s demonstrated a sound Contemporary Art Evening Sale, with sales totaling £69 million, against an estimate of £57-82 million. They possessed a good sell-through rate at 87.3% by lot and 93.4% by value. In a press release, Cheyenne Westphal, Sotheby’s Chairman of Contemporary Art Europe, was quoted: “The auction this evening was led by blue-chip artists, such as Bacon, Basquiat, Richter and Lichtenstein… With buyers from 15 different countries, the global demand for this area of the market continues to be underlined.” Despite the overall formidable sales of last night, Sotheby’s did not receive quite the same reception as it did in its evening auction in New York in the Spring.

Glenn Brown, The Tragic Conversion of Salvador Dalí (After John Martin) (1998), which sold for £5.2 million with an estimate of £2.2-2.8 million

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Yves Klein, Le Rose du bleu (RE 22) (1960)

This week in London, the focus will shift towards Contemporary Art, for the second consecutive week of  summer auctions. According to the Telegraph, these contemporary sales hold the highest pre-sale estimates ever offered by the London houses. Total sales expected from Sotheby’s range from £57.51 – 82.48 million, while Christie’s are in excess of £120 million. Last week’s Impressionist and Modern Sales were more subdued than the record breaking auctions held in New York this past May. Based upon these record pre-sale estimates, there may be similar hopes for this week’s round of sales.

Yves Klein, Rélief éponge bleu (RE 51) (1959)

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‬The FT covers Michael Peppiatt’s new book featuring interviews with artists such as Francis Bacon, Claes Oldenburg, and Frank Auerbach, “I [want] to pin experience down before it disappears,” stated Auerbach in an excerpt. A conjoint exhibition of his work and that of Peppiatt’s other subjects will open in London this June.

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Sotheby’s staff preparing for the sale. Photos on site for Art Observed by Aubrey Roemer unless otherwise noted.

After Tuesday night’s multi-record breaking sale at Christie’s, last night’s Contemporary Evening Sale at Sotheby’s seemed to hold a somewhat lower energy, possibly a result of the second consecutive week of auctions and fairs wearing on the collectors. Yet the sale totaled $266 million—within Sotheby’s pre-sale estimate of $215–300 million—a number considerably higher than last May’s Contemporary Evening Sale total of $128 million. Seven of the artworks sold at more than $10 million, and there was an overall sell-through rate of 80.7%. In a post-sale press conference, Sotheby’s Head of Contemporary Art, Alex Rotter, commented “the market is very healthy with active bidding.”

Tobias Meyer giving a press talk about the sale. (more…)

Andy Warhol,  Double Elvis [Feris Type] (1963)

On the heels of a tireless and groundbreaking week in the New York art world, the fervor continues with the major auction houses hosting their Contemporary Art Sales—beginning tonight at Christie’s. Last week’s Impressionist and Modern Art Sales saw unforeseen prices and several world records set, namely the near $120 million paid for Edvard Munch‘s The Scream. In tandem with both the Frieze Art Fair and NADA Art Fairs’ inaugural New York editions—both held this past weekend—the Contemporary Sales possess an auspicious platform this season. The strength of last week’s sales proves the collectors’ attention to the trophy market, with many big ticket and highly recognizable works on the block this week.

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‪‬Sotheby’s to auction ‘Figure Writing Reflected in Mirror’ by Francis Bacon, estimated at possible $40 million at the contemporary-art evening sale in New York on May 9 [AO Newslink]

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Lucian Freud, Reflection (Self-portrait) (1985). All images © The Lucian Freud Archive.

Lucian Freud‘s work spans a seventy year trajectory on view now at the National Portrait Gallery in London in the first ever exhibition to focus solely on the artist’s portraiture, curated in collaboration with Freud over his final years. Born the grandson of Sigmund Freud in 1922 in Berlin, Germany, L. Freud passed away at age 88 last July as perhaps one of the most influential and important artists of his generation. The expansive exhibition includes works from as early as 1940 to the last and unfinished painting Freud was working on, highlighting stylistic developments that occurred over the decades. Freud’s subjects ran the gamut from his family, friends and lovers, to celebrities, criminals and aristocrats.

Lucian Freud, Girl in a Dark Jacket (1947)

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Installation view. All images courtesy of Haunch of Venison, London.

Haunch of Venison’s newly renovated four-gallery space in London currently holds an exhibition showing ten of Britain’s more important painters of the post-war era: Michael Andrews, Frank Auerbach, Francis Bacon, Patrick Caulfield, William Coldstream, Lucian Freud, Richard Hamilton, David Hockney, Leon Kossoff and Euan Uglow. Exploring both personal and artistic relationships amongst the artists, over 40 paintings and drawings are on display, unveiling some works that have not been seen in public for years.
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‪ Francis Bacon’s “The Portrait of Henrietta Moraes” (1963) is estimated to sell for £18m at Christie’s Postwar and Contemporary Art in London in February [AO Newslink]

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Sigmar Polke, Dschungel (Jungle), 1967 (est. $5-6.5 million, realized $9.2 million), via Sothebys.com

Sotheby’s evening sale of Contemporary art on Wednesday night brought this round of summer sales to a close and removed any lingering doubt about the art market’s recovery. Eighty-one of 88 lots offered brought in $174 million against a high estimate of $168.5 million and set a record for any auction the company has staged in London. The results were boosted by the inclusion of thirty-four works belonging to Count Christian Duerckheim, a German industrialist who collected German art religiously and often befriended artists he patronized. The Duerckheim lots, which had the benefit not just of quality and freshness but also storied provenance, were all sold during the first portion of the auction and fetched $97 million against a high estimate of $74 million. Leading the collection was Sigmar Polke‘s dotted Dschungel of 1967 which sold for $9.2 million and set the artist’s auction record.

Francis Bacon, Crouching Nude, 1961 (est.$11-14 million, realized $13.7 million), via Sothebys.com

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Francis Bacon, Study for a Portrait, 1953 (est. unpublished, realized $28.6 million), via Christies.com

Christie’s sale of Contemporary art on Tuesday night realized $127 million for 53 lots sold. The total, which fell just above the high estimate of $125 million once fees were added, is the highest for any sale at Christie’s in Europe since the boom of June 2008. The top lot was a Francis Bacon self portrait that shows a man sitting in a throne-like chair wearing a suit and glasses. The painting sold for $28.6 million against an unpublished estimate rumored to be about $17 million. A self portrait by the artist sold for $25 million at Christie’s spring sale in New York .

Andy Warhol, Mao, 1973 (est. $9.6-12.8 million, realized $11.1 million), via Christies.com

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Jean-Michel Basquiat, Self-Portrait, 1985 (est. $3.2-4.8 million), via Phillipsdepury.com

The summer sales continue in London this week as the major auction houses host their Contemporary art auctions. Phillips will offer 32-lots on Monday evening, followed by Christie’s 67-lot sale on Tuesday and capped with an 88-lot sale at Sotheby’s on Wednesday. The Phillips sale will take place at the company’s new exhibition space at Claridge’s London. Like the auction house’s move uptown to 450 Park Ave in New York last year, the new London location is closer than their Howick Place headquarters to competitors Sotheby’s and Christie’s. The night’s 32 lots are expected to fetch $16-23 million and are headlined by a Basquiat self portrait that is estimated to bring as much as $4.8 million.

Damien Hirst, Confession, 2008 (est. $958,000-1.3 million), via Phillipsdepury.com

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Francis Bacon, “Portrait of Henrietta Moraes” (1969). All pictures courtesy of Helly Nahmad Gallery.

New York’s Helly Nahmad Gallery is currently showing the first comparative assembly of works by the painters Chaim Soutine and Francis Bacon. Connections between Soutine, whom de Kooning famously called his “favorite artist,” and Bacon, the subject of two Tate Modern retrospectives in his lifetime and one in 2008, have never before been examined by an exhibition at a museum or gallery. SOUTINE/BACON closes on June 18.

Chaim Soutine, “Autoportrait” (1918).

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Andy Warhol, Self-Portrait, 1963-64 (est. $20-30 million, realized $38.4 million). All images via Christies.com.

Christie’s nearly white-glove sale of of Post-War and Contemporary art on Wednesday night brought in more than twice as the equivalent sale at Sotheby’s on Tuesday evening. Sixty-three of sixty-five lots sold for a whopping $301.7 million, giving the sale a sell through rate of 95% by lot and 99% by value. The total beat the high presale estimate of $299 million despite the fact that a Rauschenberg combine estimated to fetch between $12-18 million was withdrawn from the sale. Wednesday night’s results were the best the auction house has seen for a Contemporary evening auction since May 2008 (that sale realized $331 million). Bidding went on for about two hours, approximately fifteen minutes of which was spent on a single lot. Two telephone bidders chased Andy Warhol‘s blue self-portrait, one on the phone with Brett Gorvy of Christie’s and the other with Philippe Segalot, formerly of Christie’s. The audience laughed as bidding escalated in $100,000 increments and cheered each time one contender took a bigger leap ahead. In the end Gorvy’s buyer was triumphant and paid $38.4 million for the four-part piece, which was estimated to fetch between $20-30 million. The sale was a record for a Warhol portrait (self or otherwise) at auction.

Mark Rothko, Untitled No. 17, 1961 (est. $18-22 million, realized $33.7 million)

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Jeff Koons, Pink Panther, 1988 (est. $20-30 million), via Sothebys.com

This week Sotheby’s, Christie’s, and Phillips de Pury will hold Contemporary art auctions in New York. After an anemic week of Impressionist and Modern art sales, the auction houses hope to broker nearly half a billion dollars of Contemporary art. On Monday Sotheby’s will offer forty-three lots during two parts of a three part sale of the collection of Allan Stone (consisting mostly of works by Wayne Thiebaud and Willem de Kooning), followed by their fifty-nine lot Contemporary art evening sale on Tuesday. The next night Christie’s will offer sixty-six works expected to fetch at least $230 million. The week ends with Phillips de Pury’s fifty-one lot sale that carries an estimate of $85-120 million.

Andy Warhol, Sixteen Jackies, 1964 (est. $20-30 million), via Sothebys.com

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Francis Bacon, Three Studies for Portrait of Lucian Freud, 1964 (est. £7–9 million, realized £23 million), via Sothebys.com

This evening’s Sotheby’s 60-lot auction of works from the collection of Geneva-based collector George Kostalitz brought in an astounding £93.5 million against a high presale estimate of £54 million. All sixty works were sold, and lot after lot exceeded expectations during the most exciting of this week’s auctions. Fetching £23 million against a high estimate of £9 million, Francis Bacon’s Three Studies for Portrait of Lucian Freud was the top lot and is believed to have been bought by Cologne-based dealer Alex Lachmann.

Tobias Meyer conducting the “Looking Closely” auction at Sotheby’s London on Thursday evening, photo by Art Observed

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Pablo Picasso, La Lecture, 1932 (est. £12–18 million), via Sothebys.com

February’s round of major art auctions begins in London next week with Impressionist & Modern sales at Sotheby’s and Christie’s.  On Tuesday evening Sotheby’s will offer forty-two lots estimated to bring between £55-79 million. Sotheby’s will also hold a 60-lot sale of Impressionist, Modern, and Contemporary works titled “Looking Closely: A Private Collection” on Thursday, February 10th that is expected to fetch up to £54 million.  All the works in that sale are from the collection of George Kostalitz, a Geneva-based collector who died last year. Christie’s forty-six lot evening sale on Wednesday is estimated to bring £54-80 million and, as was the case last year, will be immediately followed by a thirty-one lot auction of Surrealist works estimated to fetch an additional £19-28 million. While it is uncertain whether these auctions will produce a buzz-worthy sale on par with last year’s £65 million paid for Giacometti’s L’Homme Qui Marche I, both houses are offering a number of strong works led by canvases by Picasso and Gauguin.

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Alberto Giacometti, Diego, 1958 (est. £3–5 million), via Sothebys.com

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New Holland Island, via architettura.it

Adding to an assortment of yachts and football clubs, Roman Abramovich has purchased the entire New Holland Island in St. Petersburg. For nearly $400 million, island plans center around a museum complex – complete with hotels and shopping – to house a portion of the Russian oligarch’s extensive art collection. Among the collection are such high profile pieces as Francis Bacon‘s 1976 “Triptych” and Lucian Freud‘s 1995 “Benefits Supervisor Sleeping,” for which Abramovich paid record-setting prices at Sotheby’s New York and Christie’s, respectively, on an extravagant pair of back to back evenings in 2008.

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Andy Warhol, Coca-Cola [4] [Large Coca-Cola], 1962 (est. $20-25 million, realized $34.5 million), via Sothebys.com

Auction goers at Sotheby’s Contemporary Art Evening Sale on Tuesday night were offered glass bottles of Coca-Cola before entering the saleroom in honor of the auction’s featured lot – Andy Warhol‘s Coca-Cola [4] [Large Coca-Cola]. The painting sold for $35.4 million against a high presale estimate of $25 million and was, like the Warhol for sale at Phillips Monday night, the evening’s top lot. The Sotheby’s auction was comprised of 54 lots (not including a work by Felix Gonzales-Torres, which was withdrawn) that brought in $222.5 million against presale estimates of $151.8-214.5 million. The sale had a sell through rate of 90.7% by lot and 97.1% by value with 5 of 54 lots unsold.

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Andy Warhol, Men in Her Life, 1962 (est. $40 million), via Phillipsdepury.com

The second week of major New York auctions begins with two evening sales at Phillips de Pury on Monday, November 8th, followed by the Sotheby’s sale on Tuesday and the Christie’s sale on Wednesday. Phillips will hold two back to back sales on Monday evening that will inaugurate the house’s new headquarters at 450 Park Avenue in New York City. The evening sale is preceded by the first of a new series of auctions titled Carte Blanche, wherein a guest artist, collector, or curator organizes the auction. This week’s Carte Blanche auction is the bigger of the two sales and is curated by Philippe Ségalot. It is comprised of 33 works expected to fetch at least $80 million. The Sotheby’s sale is composed of 55 lots expected to bring upwards of $132 million, while the 76 lots at Christie’s are expected to fetch upwards of $240 million.

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Installation View  All photographs are via Gagosian Gallery unless otherwise noted

Currently on view at Gagosian Gallery, 6-24 Britannia street, London is the exhibition titled “Crash, Homage to J.G. Ballard” , a group show dedicated, as the name suggests, to the oeuvre of J.D. Ballard, a prominent British novelist and short-story writer, a representative of the New Wave movement in science fiction.  The exhibition was put together to pay tribute to the enormous cultural influence of J.D. Ballard’s fiction on many visual artists. The impressive selection of works by  such prominent artists as Ed Ruscha, Richard Hamilton, AndyWarhol and Helmut Newton illustrates profound engagement of the writer with the works of visual artists of his generation and their mutual influence.

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