Installation view. All photos on site for Art Observed by Caroline Claisse.

The Tate Modern‘s exhibition ‘Panorama,’ featuring the work of living German artist Gerhard Richter, will be coming to an end after thee months. The exhibition pays homage to Richter’s variant inspirations, spanning 50 years of work and 14 rooms, providing an all-encompassing display of his oeuvre. Works include photo-realist paintings, landscapes, cloud, squeegee, and history paintings, with less conventionally displayed glass and mirror constructions from the 1980s, as well as his first Color Chart from 1966. One noted work, the 20-meter-long Stroke (on Red) (1980) was developed from a photograph of a brush stroke. This is its first exhibition outside of Germany.

‘Panorama’ gallery view, with curator Mark Godfrey

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Yves Klein all photos by Caroline Claisse for Art Observed

This year marked the 2nd iteration of the House of the Nobleman, a privately sponsored exhibition which took place at the Boswall House, 15,000sqft  mansion at 2 Cornwall Terrace, overlooking Regent’s Park and the Frieze 2011 Art Fair.  Art Observed was on site for the private viewing.  On view were works by Claude Monet, Auguste Rodin, Peter Paul Rubens, Edgar Degas, Max Ernst,  Damien Hirst, Marlene Dumas, Yves Klein, Lucio Fontana, Sigmar Polke, Christian Boltanski, Anish Kapoor, Nick Hornby, Matthew Day Jackson, Cecily Brown, Lucian Freud, Peter Fischli and David Weiss, Yayoi Kusama, Robert Longo, Alexander Calder, Eugenia Emets, Francesco Clemente, Salvador Dali,  Peter Doig,  Olafur Eliasson, George Condo, Takashi Murakami,  Hiroshi Sugimoto and Gerhard Richter.

Monet, Claude “ Chemin dans le brouillard”, (1879)

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Lucian Freud, Boy’s Head, 1952 (est. $4.6-6.2 million), via Sothebys.com

Christie’s, Sotheby’s, and Phillips de Pury are hosting Contemporary art sales this week in conjunction with the Frieze Art Fair, which officially begins on Thursday in London. Capitalizing on the flood of art afficionados in town for the fair,  the auction houses are hoping to move about $88 million worth of art during their evening sales. Dealers and buyers have been reassured of the art market’s strength following huge boom-like sums achieved during the past few auction cycles, but this round of sales comes at a moment of increased anxiety about the global economy. These sales may set the tone of the major auctions next month in New York, when Christie’s, Sotheby’s, and Phillips will offer several hundred million dollars worth of Impressionist, Modern, and Contemporary art.

Jeff Koons, Seal Walrus Trashcans, 2003-09 (est. $3.1-4.6 million), via Phillipsdepury.com

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Gerhard Richter provides some frank statements on the art market and the upcoming sale of his work at auction during the press conference for his soon to open show at the Tate Modern “It’s just as absurd as the banking crisis” [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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Martin Creed, Work No. 1219 (2011), all images via Johnen Galerie Berlin

Martin Creed’s solo exhibition ‘Paintings’ is approaching its final weekend at Johnen Galerie Berlin. Known primarily for his cheeky sculptural works, Creed’s Berlin show is made up of a sincere selection of paintings in which the artist uses his physical materials and certain formulas to dictate the resultant artworks.

Martin Creed, Work No. 1198 (2011)

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Gerhard Richter, Abstraktes Bild, 1990 (est. £5-7 million, realized £7.2 million ), via Sothebys.com

February’s Contemporary Art auctions began Tuesday night at Sotheby’s London. The auction house offered fifty-nine lots (a work by Anslem Kiefer was withdrawn) with a presale estimate of £30-43 million. The sale just beat its high estimate, raising £44.4 million with a 91.5% sell-through rate by lot and 95% by value. Sotheby’s noted that this is the strongest sell-through rate they’ve had in several seasons and that combined with the Contemporary offerings at the “Looking Closely” sale last week, the auction house has sold £88.2 million worth of Contemporary art in 2011 thusfar, making it the most successful Contemporary sales season at Sotheby’s London since July 2008.

Tobias Meyer standing in front of Andy Warhol‘s Marilyns at Sotheby’s London, via Art Observed

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Gerhard Richter, Abstraktes Bild, 1990 (est. £5-7 million), via Sothebys.com

The February auctions continue this week in London with Contemporary Art sales at Sotheby’s, Christie’s, and Phillips de Pury. The day after Valentine’s Day buyers can cozy up to sixty lots at the Sotheby’s Contemporary art evening sale that are estimated to bring upwards of £30 million. The following night Christie’s will offer sixty-four lots that are expected to fetch £36-52 million. Phillips de Pury closes the week’s auctions with a twenty-nine lot sale that carries an estimate of £5.8-8.5 million. Christie’s is the only house to have officially released their 2010 global sales figures, and the numbers are impressive. The company sold £3.3 billion (or $5 billion) worth of art last year, more than any previous year in their 245-year history. Cheyenne Westphal, Sotheby’s Chairman of Contemporary Art London, revealed that the firm sold $845 million worth of Contemporary art in 2010 and that this is the third-highest total at the company in the field. At November’s Contemporary art auctions Phillips de Pury debuted a sparkling new gallery space on Park Avenue in New York and had the biggest sale of the week when Andy Warhol’s Men in Her Life sold for $63.4 million. It was a good year for Contemporary art, and the results of this week’s sales are expected to indicate whether the market will continue to recover in 2011 as it did in 2010.

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Andy Warhol, Nine Multicoloured Marilyns (Reversal Series), 1979-1986 (est. £2-3 million), via Sothebys.com

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Roy Lichtenstein, Ohhh…Alright…, 1964 (est. not published, realized $42.6 million), via Christies.com

This week’s Contemporary Art sales in New York ended with a bang at Christie’s Contemporary Evening Sale on Wednesday night. Seventy-five lots offered brought in $272 million with a sell through rate of 93% by lot and 92% by value. As was the case earlier this week at the Phillips and Sotheby’s sales, Pop Art sold exceptionally well. Roy Lichtenstein‘s Ohhh…Alright… was the evening’s top lot and set the record for the artist when it sold to an anonymous bidder for $42.6 million – smashing the previous record of $16.3 million set at Christie’s in 2005.

AO Onsite photo by J. Mizrachi

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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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Untitled 1, Julie Mehretu. Estimated: $600,000—800,000. Price Realized: 1,022,500.

118 artworks that once hung in the corporate offices of Lehman Brothers Holdings Inc. sold to bidders at Sotheby’s auction house in New York today for $12.3 million, exceeding the high-end estimate of $12 million. The sale comes almost exactly two years after the investment bank filed the largest bankruptcy in the history of the United States and its proceeds will be used to pay off the $613 billion owed to creditors. Today, Kimberly Macleod, spokesperson for Lehman Brothers commented: “We are delighted that Sotheby’s delivered the value we sought on behalf of the creditors and that the result was at the top of the pre-sale estimate.”

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Gabriel Orozco, Black Kites Perspective (right), 1997, digital C-print, 41 x 51 cm. Courtesy of Marian Goodman.

Last weekend marked the opening of “Thrice Upon A Time” at Magasin 3 Konsthall in Stockholm, Sweden. The exhibition, which runs through December 12, 2010, is the institution’s most comprehensive to date. Curated by Richard Julin, Elisabeth Millqvist, and Tessa Praun, the exhibition draws on Magasin 3’s rich collection of works by established international and emerging contemporary artists. The ambitious show features over 200 pieces of photography, drawing, painting, film and sculpture. Just a week away from the Swedish elections, the opening was filled with political hopefuls and those in the know in Stockholm’s growing art scene.

On the role call are recognizable international names such as Uta Barth, Walter De Maria, Gabriel Orozco, Chris Ofili, Tal R, Gerhard Richter, Cindy Sherman, Fred Sandback, and Richard Tuttle. Many of the fresher faces are included in Moderna Museet’s fall show “The Moderna Exhibition 2010” opening October 2, 2010.

Sculptures by Danish artist Tal R, Hyacint, 2008, glazed ceramic, 107 x 28 x 34 and 105 x 36 x 49 cm. Photo by Christian Saltas.

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Julie Mehretu, Untitled 1, 2001 (est. $600-800,000), via Sothebys.com

Almost two years to the day after Lehman Brothers filed the largest bankruptcy in U.S. history, the bank will auction off hundreds of artworks worth some $16 million in hopes of raising funds for its creditors. There will be an auction at Sotheby’s New York on September 25 followed by an auction at Christie’s London on September 29. The smallest of the three auctions will be held at Freeman’s in Philadelphia on November 7 and will focus on the Lehman’s Contemporary Art holdings.

Damien Hirst, We’ve Got Style (The Vessel Collection Blue/Green), 1993 (est. $800,000-1,200,000) via Sothebys.com

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Image featured on gallery website, via Vera Munro

Currently showing at the Vera Munro Gallery in Hamburg, Germany through September 30^th, 2010, is an exhibition of works by various artists and chosen by Gerwald Rockenschaub.The full list of artists can be found on the gallery’s website, and includes established artists such as Ellsworth Kelly and Gerhard Richter, and younger artists like Tomma Abts and Katja Strunz.

Show assembled by Gerwald Rockenschaub, via My Contemporary

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Sotheby’s Evening Contemporary Art Auction in Progress, via Sothebys.com

With the audience being described as “dazed” and “fatigued,” excitement was sparse at yesterday evening’s Contemporary Art auction at Sotheby’s in London. The sale realized a total of £41,091,800, well within the £32-52 million estimate (total realized includes buyer’s premium, estimates do not).  The sale had a sell-through rate of 83% by lot and 87.3% by value, while 45.4% of lots sold above their high estimates.

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Yves Klein, MG 42, 1960 (estimate £200,000-300,000, realized £481,250), via Sothebys.com

The headlining work, Yves Klein’s RE 49, sold for just over £6 million (estimate £4.5-6.5 million) after three minutes of bidding from four interested buyers.  The other Klein canvas for sale yesterday evening, MG 42, realized a price of £481,250, above its pre-sale estimate of £200,000-300,000. Though the works performed reasonably well, there is still concern that the market might be tiring of them. “There are too many Kleins and Fontanas in these auctions,” Dusseldorf-based art adviser Jorg-Michael Bertz said, in conversation with Bloomberg reporter Scott Reyburn. “We need a rest from them.”

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Yves Klein, Re 49, 1961 via Sothebys.com

Expectations are high for this week’s Contemporary Art auctions at Sotheby’s and Christie’s in London.  The auctions, which will take place between June 28^th and July 1st, will feature sought after works by several important artists, including Yves Klein, Gerhard Richter, Andy Warhol, Jeff Koons, Richard Prince, Lucio Fontana, and Jean-Michel Basquiat.  The strength of the works being sold is the result of buoyed seller confidence following a recent series of record-breaking auction results, such as the sale of a Picasso for $106.5 million in May at Christie’s in New York and 43.2 million euros for a Modigliani sculpture this month at Christie’s in Paris.  Sotheby’s evening auction carries a low estimate of £38.3 million for 53 works, while the Christie’s Post War and Contemporary evening sale carries a low estimate of £40.9 million for 63 lots.  Last summer’s Contemporary Art sale at Sotheby’s, which was expected to bring between £19.8-27.4 million, brought in £25.5 million for 40 lots. The comparable Christie’s auction last year brought just over £19 million for 40 lots with a low estimate of £17.4 million.

At Sotheby’s, all eyes will be on an Yves Klein sponge painting from 1961 titled Re 49 and dedicated to the artist Charles Wilp.  This large-scale work comes from the collection of the Munich-based HypoVereinsbank and is estimated to bring £4.5-6.5 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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Self-Portrait with a Black Eye, Lucian Freud. Estimate: Image via Sotheby’s

Sotheby’s auction house will kick off this week’s major round of contemporary sales in New York with an 80 lot sale that is expected to realize in excess of £32 million on Wednesday, February 10. Christie’s expect to fetch at least £26,290,000 from 52 lots at their evening sale on Thursday, February 11. In November, Sotheby’s Postwar and Contemporary Sale in New York marked a major turning point in art market history when Andy Warhol’s 200 One Dollar Bills, sold for $43,762,500 over an estimate of $8-12million. The coming week could therefore be seen as an important one in establishing price-levels in a still relatively undetermined contemporary art market – the area most heavily effected by the global recession.  The many heavyweight pieces on offer this week undoubtedly reflect a confidence in sellers resulting from November’s impressive sale – the sales are spearheaded by important and rare works by Peter Doig, Yves Klein, Lucian Freud, Gerhard Richter, Chris Ofili, Neo Rauch and Martin Kippenberger. Contemporary week also falls in the wake of the incredible $104.3 million sale of Giacometti’s “L’homme qui marche I” (The Striding Man I) at Sotheby’s that set a new world record by becoming the most expensive work of art ever sold at auction. This week overall, Sotheby’s and Christie’s expect to bring in at least $365.3 million combined, $144.6 million in 2009, up from $332.5 million in February 2008.

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Abstract Painting (894-1) (2005) by Gerhard Richter, via Marian Goodman Gallery

Currently on view at Marian Goodman Gallery in New York is “Abstract Paintings” by Gerhard Richter. The most recent presentation of the artist’s work in New York since his solo exhibition at Marian Goodman in 2005, the exhibition features major works by the artist from 2005 to the present including a new cycle of paintings entitled “Sindbad” (2008) and also individual paintings with medium to large format abstractions. In addition, Richter has displayed a new group of large scale near-monochrome paintings with underlying chromatic structures layered in veils of translucent white paint.

Abstract Painting (894-2) (2005) by Gerhard Richter, via Marian Goodman Gallery

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Terence Koh captured mid-lecture during his performance “Art History: 1642-2009” at the National Arts Club, New York via Zimbio

Last night ArtObserved was on site at New York City’s National Arts Club to witness a performance,”Art History: 1642 – 2009,” from Terence Koh.  The performance was curated by Stacey Engman, the National Arts Club‘s Contemporary Art Chair and Chief Curator and was in conjunction with Performa 09. Indeed, the theme of the night – a tour through the great canon of Art History – was set from the beginning of the night as guests, who included Aurel Schmidt, Vito Schnabel, Klaus Biesenbach, Marina Abramovic and Mary Boone, mingled in a salon-style reception in the beautiful front parlours of the club house. The performance was to take the form of an Art History lecture, accompanied by images of artworks – this was about all guests knew before the show started and so guessing and anticipating became the game of choice for all in attendance.

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Untitled, Gerhard Richter (1985) via mima

Currently on show, through November 15, at Middlesbrough’s Institute of Modern Art (mima), is Gerhard Richter: Modern Times. Gerhard Richter is undoubtedly one of the most significant artists of our time; with works held by almost every major museum in the world, and is said to have brought ‘painting back to life.’  This exhibition covers all aspects of the artist’s complex practice and is particularly important as it includes unique works in many different media. Gerhard Richter: Modern Times comes close on the heels of a number of exhibitions that have widened the public’s view of Richter including a major retrospective at The National Gallery of Scotland, Edinburgh, a groundbreaking survey of his portraits at the National Portrait Gallery, London, and the unforgettable 4900 Colours: Version II at the Serpentine Gallery in London.

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11 Schieben [11 Panes], Gerhard Richter (2004) via mima

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Paris Bar, Martin Kippenberger

To celebrate Frieze Art Fair, currently underway in London’s Regent’s Park, Christie’s auction house held a series of auctions selling Post-War and Contemporary Art – the most notable of which occurred last night, October 16, and saw many record-breaking sales. The presale estimate for the evening auction was £6.8 million and in the end all but 1 of the 25 contemporary works sold, totaling £11.2 million.  It is of course relevant to note that the totals are down incredibly from last year’s estimates of  £57.8 million – £75.6 million for Christie’s Contemporary Art Evening Sale in London on Sunday, October 19th of last year.  That said, the leading highlights included significant works by Peter Doig, Martin Kippenberger, Damien Hirst, Gerhard Richter, Neo Rauch, Dash Snow, Pino Pascali and a rare, early rediscovered drawing by Lucian Freud. All sale totals stated in this article include buyer’s premiums and come directly from Christie’s official website or courtesy of The Baer Faxt.

Stellwerk (Signal Box), Neo Rauch

Related Links:
Christie’s Homepage
Christie’s Sells $18.3 million, Lures Buyers with Low Estimates [Bloomberg]
Sotheby’s and Christie’s Auction Within Estimates [Reuters]
Auction Reports: post-war and contemporary art [The Art Newspaper]

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Afro Apparition, Chris Ofili (b.1968) all pictures from Sotheby’s unless otherwise noted.

Today Sotheby’s London held their October Contemporary Art Auction to coincide with Frieze Art Fair which is currently underway in London’s Regent’s Park and art observed was on site with coverage.  The 223 lot auction comprised of work, in a range of media, by leading post-war artists such as Jean-Michel Basquiat, Chris Ofili, Gerhard Richter, Anish Kapoor, Damien Hirst, Frank Auerbach, Anthony Gormley, Farhad Moshiri and Yan Pei Ming. 73% of the contemporary works were sold and the eventual total of the sales came in at  12,757,125 GBP. All sale totals stated in this article include buyer’s premiums and come directly from Sotheby’s official website or courtesy of The Baer Faxt.

Fuego Flores, Jean-Michel Basquiat

Related Links:
Sotheby’s Homepage
Autumn Fairs are a Barometer for the Art Market [NYTimes]
Can Frieze reheat the art market? [The Independent]

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