Damien Hirst’s ‘For the Love of God’ via Artinfo

Ukrainian collector Viktor Pinchuk, who is currently hosting Damien Hirst’s retrospective in Kiev, is revealed as the fourth stakeholder in the artist’s platinum, diamond-encrusted skull, which has yet to sell despite a £35 million offer from Alberto Mugrabi [The Art Newspaper]
in related, Fiats decorated by Hirst have had little problem selling at a London charity auction [Art Review]
Two proposed tax-free ports in Paris and Singapore aim to revolutionize international art handling [NY Times]

Roxy Paine with one of his ‘Dendroid’ sculptures via Artinfo

National Gallery of Art commissions a Roxy Paine ‘Dendroid’ sculpture [National Gallery of Art via Artnet]
Art Basel’s Marc Spiegler says that now is an essential time for collectors to buy work from galleries to support artists and local art scenes [ArtInfo]
In conjunction with Saatchi, the Times lists top 200 artists of the 20th century with Picasso and early Modernists at the front [TimesUK]
Three arts professionals describe how they collect for their own homes [Financial Times]

Sam Francis, Grey, the subject of an auction dispute at Christie’s

Shipping magnate Gregory Callimanopulos appealing court decision in auction dispute with Christie’s and Broad Art Foundation over Sam Francis’ ‘Grey’ [ArtForum]
Art during the Nazi regime: Van Meegeren and Göring, forgery and thievery [New York Times]
Unusual Renoir painting recovered in Venice 25 years after it was stolen [Artinfo]

Edward Hopper, Rooms by the Sea, recently acquired by Yale University. via ArtDaily

Yale University counter-sued over Van Gogh painting ‘The Night Café,’ seized during the Communist takeover of Russia [Bloomberg.com].
In related, Yale University Art Gallery acquires Edward Hopper preparatory drawings ‘Rooms by the Sea’ and ‘Western Motel and the Study’ [ArtDaily]
Young collectors pooling resources and sharing art [Financial Times]

Pablo Picasso’s Homme à l’épée for sale in London. via The Telegraph.

€7 – 10 millionv notebook of Picasso sketches discovered stolen from the Picasso museum in Paris [ArtDaily]
and in related, two ‘Musketeer’ paintings by the artist to be auctioned at Christie’s and Sotheby’s, respectively [The TelegraphUK]
As early as 2010, the Louvre may be at risk financially, despite a wave of acquisitions totaling an estimated  €38 million [NYTimes]

Andreas Gursky’s ‘James Bond Island III’ via FOTO8

An interview of Andreas Gursky in which he speaks of scaling down his monumental prints, the influence Bernd and Hilla Becher, and working with North Korea [FOTO8]
Vito Acconci closes his studio, citing cash flow troubles [The Architect’s Newspaper via ArtInfo]

Massimiliano Gioni navigates Venice during the Biennale opening via NY Times

Following curator and critic Massimiliano Gioni and his various party obligations at the Venice Biennale [NY Times]
Points on whether or not the recession is indeed good for art [GuardianUK]
Gagosian has hired Richard Meier to double the space in his Los Angeles Gallery [The Art Newspaper]

62 Imlay Street in Red Hook, Brooklyn, recently leased by Christie’s for storage

Christie’s leases a building for storage in Red Hook, in what is likely one of the largest real estate deals in Brooklyn this year [Brownstoner]
A guide to investing in contemporary art in current market conditions [NY Times]
Sotheby’s London Russian Art Evening Sale totals £7.9m with 17 of 28 lots sold [Art Market Monitor]

Video of Banksy’s exhibition in Bristol via BBC

Banksy secretly sets up exhibition in Bristol museum [BBC]
Beginning June 16, 2009 the Metropolitan Museum of Art will display ‘The Torment of Saint Anthony,’ now widely believed to be Michelangelo’s first painting, before it goes to its new home at Kimball Museum in Texas [ArtDaily]

Picasso’s Château de Vauvenargues via Artinfo

Picasso’s Château will open to the public this summer [Artinfo]
Billionaire collector Eli broad contends that the downturn in the art market has bottomed [Bloomberg]
Christie’s similarly calls a leveling off of the art market’s downshift [Reuters]

Tony Cragg’s Big Head (2009), courtesy of the Marian Goodman Gallery, photo by Art Observed.

The 40th installment of Art Basel runs this year from June 10 to the 14th.  The annual event, dubbed the “Olympics of the Art World” by the New York Times, includes this year over 2,500 artists, and works exhibited in almost 300 galleries around the world.  Works range in medium, from painting and drawing to sculpture, installation art, photography, and video.  Featured are both old masters of modern art and contemporary artists: among this year’s roster are the works of Pablo Picasso, Paul Cézanne, Jackson Pollock, Marcel Duchamp and more, alongside that of today’s artists, including John Baldessari, Vanessa Beecroft, and Rebecca Horn.

Related links:
Art_Base [Official Website]
Art Basel Catalog
Art Basel 40 Celebrates the First Art Basel Weekend with Special Presentations [ArtDaily]
Art Basel Shows Works of Art by 2,500 Artists at World’s Premier International Art Fair [ArtDaily]
Editor’s Picks: Art Basel Preview [ArtInfo]
Il Tempo del Postino – “The World’s First Visual Arts Opera” [ArtKey]
The art market: The biggest fairs around the world [the Financial Times]
Trading Places [the Financial Times]
Meanwhile, in Basel, Contemporary Works You Can Buy [Wall Street Journal]
Brad Pitt Buys Big at Basel, with a Little Push from Eli Broad [Wall Street Journal]
Preview sales defy all expectations [The Art Newspaper]
For Art Lovers, Basel Doesn’t End at the Fair [New York Times]
Warhol Price Slashed as Art Basel Fights Slump With Bargains [Bloomberg]
Pitt Buys in Basel as Broad Browses, $2 Million Sculpture Sells [Bloomberg]
Liste: Quality Uneven but Spirits High [ArtInfo]
To Bling or Not to Bling? [ArtInfo]
Locals Rule: Alternative Art Spaces Gear Up for Art Basel [ArtInfo]
BASELMANIA 2009 [ArtNet]
Preview sales defy all expectations [ArtNewspaper]
Forty Years of Art Basel [The Art Newspaper]

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Anish Kapoor’s ‘Shooting into the Corner’ via The Independent

Britain’s Royal Academy opens its galleries in September to Anish Kapoor for the first single artist exhibition there since 1988 [Independent] and Kapoor’s commission for the Deutsche Guggenheim, ‘Memory,’ opens in October [Guggenheim]

Gilbert and George in Hong Kong via Financial Times

Gilbert and George describe their trip to Hong Kong for the opening of ‘Louis Vuitton: A Passion For Creation’ at the Hong Kong Museum of Art [Financial Times]
Oreg0n art dealer indicted for running gallery as a Ponzi scheme [Artinfo]

Glenn Brown’s ‘Christina of Denmark’ via Art in America

Lynn MacRitchie visits painter Glenn Brown’s studio [Art in America]
Predictions about the future of auction houses following the burst of the art market bubble [CNBC via Art Market Monitor]

Aerial view of Governors Island via Governors Island

Creative Time announces Plot, a public art quadrennial, to take place on Governors Island this summer, with 19 international artists showing in 5 buildings previously closed to the public [Creative Time]

Pablo Picasso’s ‘Homme à l’épée’ via Philippe Sollers estimated to sell for £5-7 million at Christie’s Impressionist and Modern Art Sale later this month

Christie’s announces its Impressionist and Modern Art Sale, with important works by Monet, Duchamp, and Picasso as highlights [Auction Publicity] and in other auction news, Latin American sales follow the downward trend [Artinfo]

Terence Koh and Tom Sachs celebrate the release of Koh’s new book at Julian Schnabel’s house via Style

Vito Schnabel holds a dinner party at Palazzo Chupi in honor of Terence Koh’s new book, ‘Flowers for Baudelaire’ [Style]
Eric Fischl is organizing a touring exhibition aimed at involving artists in the evolution of American identity in the wake of post-9/11 politics [LA Times]

Takashi Murakami signing posters for the Vogue Nippon launch via Hint

Comme des Garçons x Vogue Nippon concept shop opens, featuring Takashi Murakami collaborations [Hint]
Controversial modern museum, the Ara Pacis, in the heart of historical Rome, is vandalized [BBC]

Jenny Holzer’s ‘Monument’ via Economist

Daniel Arizona looks at how Jenny Holzer’s early aphorisms stand up now and how her new ‘Redaction Paintings’ capture today’s anxiety [Economist]
Antony Gormley and Sir Peter Blake among judges of Saatchi Gallery-Sunday Telegraph Art Prize for schoolchildren [TelegraphUK]

Pablo Picasso’s ‘Femme au Chapeau,’ via Christie’s, sold by Julian Schnabel, went for $7.7 million, slightly under the estimate of $8-12 million

Last night’s Impressionist and Modern Art Evening Sale at Christie’s fared better than Sotheby’s auction on Tuesday covered here by AO, with 38 of the 48 lots selling, realizing 94% of potential value, bringing in a total of $102.7 million, falling within estimates of $86.7-125.2 million. Highlights include two late Picasso paintings and a Giacometti sculpture, in contrast to the pricey Picasso and Giacometti works offered by Sotheby’s which failed to sell. Picasso’s ‘Mousquetaire aÌ€ la Pipe,’ offered by Madoff victim Jerome Fisher, was the highest selling lot at $14.6 million, falling between estimates of $12-18 million. Julian Schnabel sold his own Picasso, ‘Femme au Chapeau,’ to recover debts due to construction costs at his West Village townhouse. The painting sold for $7.7 million, just shy of its low estimate of $8 million. The Giacometti sculpture, ‘Buste de Diego (Stele III)’ sold for $7.7 million, surpassing its high estimate of $6.5 million.

Impressionist and Modern Art Evening Sale [Christie’s]
Picassos Sell at Christie’s Auction, After Faltering at Sotheby’s [NY Times]
Christie’s Bests Sotheby’s With $102.7 Million Sale [WSJ]
Works by Picasso and Giacometti Lead Christie’s Sale of Impressionist and Modern Art [Artdaily]
Madoff Victim Sells Picasso for $14.6 Million at Christie’s [Bloomberg]

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Pablo Picasso’s ‘Mousquetaire à la Pipe’ via Artnet, goes on sale at Christie’s with estimates between $12-18 million

Following mixed results at last night’s Impressionist and Modern Art Evening Sale at Sotheby’s, where two high profile works by Picasso and Giacometti failed to sell, auctions at Christie’s and Sotheby’s continue tomorrow.  C hristie’s Impressionist and Modern Art Evening Sale tonight features two late Picasso paintings, both with estimates between $12-18. One, ‘Mousquetaire à la Pipe,’ is offered by Madoff victim Jerome Fisher, co-founder of show company Nine West.  The other painting, ‘Femme au Chapeau,’ comes from the collection of artist Julian Schnabel. The auction sees 50 lots with estimates of $94.9–134.6 million.

Madoff Investor Puts Picasso ‘Musketeer’ on Sale at Christie’s [Bloomberg]
What a Difference a Year Makes [Artinfo]
Impressionist and Modern Art [Christie’s]
Bernie Swindle Is a Pablo Blow [NYPost]

Picasso’s ‘La Fille de l’Artiste a Deux Ans et Demi Avec un Bateau’ via AP. Failed to reach its reserve, attracting one bid at $12.25 million, falling short of the $16-24 million estimate.

Hours after Standard and Poor’s downgraded Sotheby’s credit rating to junk status, citing the depressed art market, the auction house’s spring Impressionist and Modern Art Evening Sale got underway last night in New York, yielding mixed results. The auction brought in $61,370,500 against estimates of $81.5/1-8.8 million, and was 80.6% sold by lot. This year’s figure represents slightly more than a quarter of last year’s sale, which realized $208.63 million. The auction’s highest priced lots, Picasso’s ‘La Fille de l’Artiste a Deux Ans et Demi Avec un Bateau,’ put up by a victim of the Madoff Ponzi scheme, and a rare Giacometti sculpture, ‘Le Chat,’ both failed to sell.  For both pieces, the $16-24 million reserve was cited as overreaching in an uncertain market.

However, the auction did have its highlights.  A 1934 painting by Piet Mondrian, ‘Composition in Black and White, with Double Lines,’ nearly doubled its high estimate of $5 million, selling to an anonymous caller for $9,266,500 after extensive bidding.  Four paintings by Polish Art Deco artist Tamara de Lempicka, from the collection of German fashion designer Wolfgang Joop, sold for a total of $13.8 million. ‘Portrait de Marjorie Ferry’ sold for $4.9 million, a new record for the artist.

Sale of Impressionist and Modern Art Totals $61,370,500, Picasso and Giacometti Go Unsold [Artdaily]
Modern Masters Suffer at Auction [NYtimes]
Sotheby’s $61.3 Million Sale Disappoints; Picasso Goes Unsold [Wall Street Journal]
Top Lots Flop at Sotheby’s Imp/Mod Sale [Artinfo]
Sotheby’s Impressionist Sale Hits 7-Year Low as Picasso Flops [Bloomberg]
$80 Million? Try a Tenth of That. Art’s New Numbers. [NY Times]
What a Difference a Year Makes [Artinfo]

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Kate Moss by Damien Hirst is the new cover of Tar Magazine (anagram for “art”) [NY Times]
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Art funds launched in 2008, such as the London-based Art Trading Fund, are shelved due to failure to raise required funds [ArtNewspaper]
–>
Art:21, Art in Twenty-First Century is now available for free on Hulu [Hulu]

Russian Artist Andrea Molodkin, previously cited by AO here, prepares for Venice Biennale [Financial Times]
–>
Jeff Koons is speaking at Strand Books tonight at 7:00-8:30 in New York [Via FAD]
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New York Old Masters dealer Lawrence Salander is indicted and pleads guilty in $88 million charge [Bloomberg]

A look inside Rome’s MAXXI designed by Zaha Hadid via c-monster

A preview of the MAXXI in Rome, $108 million art museum designed by Zaha Hadid [c-monster]
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Adam Lindemann, financier, collector and author of Collecting Contemporary launches a new book from Taschen: Collecting Design [ArtInfo]

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Flash Art’s current cover featuring a portrait of Barack Obama by Marlene Dumas via Art Fag City

Marlene Dumas’s portrait of Barack Obama is the cover of Flash Art [Art Fag City]
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Madonna’s art collection is estimated at £80 million pounds [TimesUK]

A selection from the site via The World’s Best Ever

A timeline of modern & contemporary art artists by movement, school, style, period, theme & art prize [The-artists.org via The World’s Best Ever]
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Richard Serra to receive honorary degree from Pratt Institute at its 120th Commencement on May 18th [MediaBistro]

Interview with photographer Nan Goldin on why she is auctioning some of the curiosities she has collected [TelegraphUK]
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SFMOMA announces plans for a future expansion, doubling gallery space [SF Chronicle]

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A preview of SANAA’s design for the 2009 Serpentine Pavillion via Architect’s Journal

SANAA, the Japanese architectual duo behind the New Museum, release first glimpse of design for the 2009 Serpentine Pavilion [Architect’s Journal]
–>
Jim Dine donates 40 drawings influenced by Greek and Roman sculpture to the Morgan Library [Artinfo]

Julian Schnabel’s Picasso Femme au Chapeau will soon be sold by Christie’s [New York Times]
–>
The Mugrabis, a high impact, market-making collector family, may be addicted to the game of art [The Observer]

Bust (1970) by Pablo Picasso, via Gagosian Gallery

Currently on view at Gagosian’s Chelsea Gallery in New York is “Picasso: Mosqueteros,” one of the first exhibitions in the United States to focus on the late paintings of the artist. The selection of works aims to shed new light on the context and subjects that influenced the artist’s later work. Featuring a large group of important paintings and prints from the collection of Bernard Ruiz-Picasso as well as works from The Museum of Modern Art, New York, the Museo Picasso, Malaga, and various other private collections spanning the years of 1962-1972, the exhibit is the first to display works from Picasso’s later period since the exhibition “Picasso: The Last Years: 1963-1973” at the Solomon R. Guggenheim Museum in 1984. Such unique images of matadors, musketeers, twisted couples and disturbed women provide a glance into the world of Picasso’s later life.

Press Release
A Personal Lesson in Late-Period Picasso [NY Times]
Picasso’s Mosqueteros [Luxury Culture]
Picasso’s Mosqueteros at Gagosian Gallery [Time Out New York]
Picasso Looks Death In the Eye [Economist]

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Currently on view at Sotheby’s New York for the first time and for a short time only is a selection of works from the collection of Steven and Alexandra Cohen.  The exhibition consists of twenty pieces by masters of the modern period, such as Picasso, de Kooning and Warhol, and leading contemporary artists, dealing with women as subject matter.   Other artists represented in Women are: Edvard Munch, Paul Cézanne, Henri Matisse, Amedeo Modigliani. Robert Rauschenberg and Susan Weil, Yves Klein, Gerhard Richter, Cindy Sherman, Lucian Freud, Richard Prince, Marlene Dumas and Lisa Yuskavage.

Sotheby’s New York
–>
Women: A Loan Exhibition from the Collection of Steven and Alexandra Cohen
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1334 York Ave, New York,
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10th floor
–>
April 2 – April 14, 2009

RELATED LINKS

Exhibition Page and Press Release [Sotheby’s]
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NY Times Carol Vogel Previews the Exhibition [New York Times]
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Steven Cohen’s Rise as a Collector [The Independent]
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MAO Critiquing Cohen’s Motives [MAO]
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NY Mag Examines Cohen’s Motives [New York Magazine]
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The Exhibition in the Light of the Art Market [Wealth Bulletin]
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Speculations on the Exhibition [ArtForum]
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Speculations on the Exhibition II [ArtInfo]
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Speculations on Cohen’s Motives [Bloomberg]
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Exploring Cohen’s Motives [Luxist]
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Preview of the Exhibition [Bloomberg]

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Guernica (1937) by Pablo Picasso, via Museo de Reina Sofia

A tapestry replica of Picasso’s famous 1937 anti-war painting Guernica will be exhibited at the Whitechapel in London.  Commissioned by Norman Rockefeller, the tapestry is currently displayed at the United Nations Headquarters in New York outside the Security Council Chamber. It is now arriving at the Whitechapel as part of Polish-born London artist Goshka Macuga’s installation that will feature the tapestry for a reopening of the Whitechapel after a ₤13.5 million re-development. The refurbishment of the gallery is by Belgian architects Robbrecht & Daem and Yaya nominee Witherford Watson Mann.

Controversial Tapestry to star in Whitechapel reopening [Art Newspaper]
“Guernica” Tapestry will travel to Whitechapel [Artinfo]
Whitechapel Gallery expansion unveiled [BuildingDesignOnline]
Picasso Tapestry of Guernica Heads to UK [The Guardian]
Tapestry of Picasso’s Guernica to be displayed in Britain [The Telegraph]
The reopening of the Whitechapel Gallery after the completion of a large expansion [The Financial Times]
Look What they’ve done to the Whitechapel [This is London]
Whitechapel’s $20 Million Redo Expands Edgy London Gallery [Bloomberg]
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Le Repos (1932) by Pablo Picasso, via Artnet

Steven Cohen, founder of prominent hedge fund SAC Capital, and his wife Alexandra have lent Sotheby’s 20 artworks valued at $450 million worth of art from their very substantial collection. The works will be displayed from April 2nd to April 14th at Sotheby’s New York headquarters, and will revolve around the female form and its portrayal from 1890 to the present. The exhibition is not tied to a sale, and is entitled Women.

Women III by Willem de Kooning, Turquoise Marilyn by Andy Warhol, Madonna by Edvard Munch, and Le Repos by Pablo Picasso will be amongst the pieces on display, alongside paintings by more contemporary artists such as Lisa Yuskavage and Marlene Dumas.  Cohen bought the de Kooning from David Geffen for $137 million, spent $80 million to acquire Turquoise Marilyn from Stefan Edlis, and acquired the Picasso at auction for $34.7 million.

Cohen and his wife are avid collectors, and have accumulated one of the most significant collections of 20th century art in the world, according to Tobias Meyer, Sotheby’s head of contemporary art. Cohen is known for owning a formaldehyde-enclosed shark by Damien Hirst, currently on loan to the Metropolitan Museum in New York, and has been steadily expanding his collection over the last ten years, buying works by major artists.

In a statement released through Sotheby’s, Mr Cohen remarked: “Our collection has not been curated before. It will be an exciting experience for us.”

SAC Capital has also become one of the larger shareholders of Sotheby’s, accumulating a 5.9% stake after its share price has collapsed over the past 6 months due to lackluster results.

SAC Capital’s Steve Cohen Lends Sotheby’s 20 Artworks [Bloomberg]
Sotheby’s investor to show collection [Financial Times]
Hedge fund manager Steve Cohen puts £320m art collection on show [Telegraph UK]
The tycoon who loved women so much he spent $700m on them[Independent UK]
Why’s Steve Cohen Showing Sotheby’s So Much Love? [New York Magazine]
Sotheby’s to Show Works From Cohen Collection [ArtInfo]

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Composition avec bleu, rouge, jaune et noir (1922) by Piet Mondrian, part of the Yves Saint Laurent – Pierre Berge collection; sold for â‚¬21.6 million, beating its estimate range of â‚¬7 million to â‚¬10 million and setting an at-auction record for the artist. Image via Christie’s.

Following three days of viewing by the public in the majestic setting of the Grand Palais in Paris, Christie’s kicked off its marathon three day, six session auction of the vast Yves Saint Laurent and Pierre Berger collection–700 pieces collected over five decades.  A moribund art market and legal manoeuvrings by the Chinese government were not enough to put a dent on the first day of auctions, as Christie’s realized $264 million including commissions, setting a record for the sale of a personal collection, beating out a 1997 auction of Victor and Sally Ganz’ extensive private collection which sold for $206.5 million. This first auction focused on Impressionist and modern art, with 61 lots on sale.

While Picasso’s Instruments de musique sur un gueridon, a synthetic cubist piece from 1912 estimated at €25 million to â‚¬30 million, failed to sell, records were broken for Matisse, Brancusi and Mondrian. Other high priced lots by blue chip names sold very well to a field of over 1,200 participants, with another 100 partaking in the sale via phone. The Grand Palais served as a giant showroom, conceived as a recreation of sorts of St Laurent’s and Berge’s apartment in Paris’ 7th arrondissement. Over 30,000 thousand people are expected to visit the Palais during the course of the public exhibition and the auction.

“This is a very important auction,” said Souren Melikian, the longtime art editor of The International Herald Tribune. “There are a large number of high-quality objects, not necessarily as stunning as billed, but high quality bought over a large number of years. And they come to auction at a time when the market is winding down, when there is less available than 20 years ago.” [Via the New York Times]

Auction page: Christie’s
Fondation Yves Saint Laurent – Pierre Berger
Art World’s Stimulus Package: Matisse, Mondrian, Not Picasso [WSJ]
Christie’s Laurent Sale Fetches Record $262 Million [Bloomberg]
Yves Saint Laurent sale proves art is in fashion [Times UK]
Yves Saint Laurent Art Sale’s 1st Night Brings In $264 Million [NYT]
Saint Laurent and His Art Still Make a Sensation [NYT]
Treasures, after a fashion [FT]
YSL art auction sets new record [Guardian UK]
Record for Matisse and Others at Christie’s Sale of Yves Saint Laurent Collection [ArtDaily]
Saint Laurent art sale raises $264 million in first night [ArtForum]
Record bids for YSL private art [BBC]
Obituary: Yves Saint Laurent [BBC]
China tries to stop Paris auction [BBC]

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Pablo Picasso’s Boy Leading a Horse” (1905 to 1906)  via the MoMA

Guggenheim and MoMA keep two works by Picasso after settlement with heirs alleging works were sold under Nazi duress [Bloomberg]
The austerity of Christie’s and Sotheby’s during leaner times in the art market [NYimes]
In related, how major London galleries are cutting staff and shuttering spaces [TheArtNewspaper]

Railcars and rooftops bear JR’s imagery in Kibera, Kenya via WoosterCollective

Street artist JR wheatpastes his art on 2,000 square meters of rooftops and railcars in a Kenyan slum [WoosterCollective]
On the practice of hypothecating fine art as collateral for loans [Financial Times]

Damien Hirst’s “Human skull in space” (oil on canvas), cover art for the 150th anniversary edition of Charles Darwin’s On the Origin of Species – via the The GuardianUK

Damien Hirst does cover design for the 150 year anniversary of Charles Darwin’s On the Origin of Species [GuardianUK]
The rise of Nicola Vassell, from gallerina to Director at Deitch Projects in New York [NYTimes]

The Colossus, historically attributed to Goya, via Reuters

Chief conservator of the Prado announces that their Colossus was probably created by Goya’s apprentice [Reuters]
The Dallas Museum of Art is in acquisition mode [Artdaily]
A profile of artist Walton Ford, creator of dramatic naturalist canvases [NewYorker via C-Monster]

Race Riot by Andy Warhol, top left, Forget It! Forget Me! by Roy Lichtenstein, right, and Life is a Killer by John Giorno, bottom left. Undated picture taken at the Rose Art Museum, Brandeis University, Waltham, Massachusetts. Image via Bloomberg.

Several major Brandeis University donors and trustees suffered substantial losses when Bernard Madoff’s Ponzi scheme was exposed, leaving the university in a very precarious financial position.  Facing a potential $79 million deficit, according to an official interviewed at the Daily Beast, the university is facing some rather stark choices: closing the Rose Museum and selling the entire collection at a fire sale price, or potentially firing up to half of its faculty.

Museum page: Rose Art Museum
Statement from Michael Rush, Director of the Rose Art Art Museum, regarding the impending closing of the museum [Rose Museum]
Brandeis Forced To Close Museum [WSJ]
Outcry Over a Plan to Sell Museum’s Holdings [NYT]
Brandeis Art Sale Illustrates Pressures on Colleges [WSJ]
Brandeis President Says School May Keep Its Art, but Rose Will Close [ARTINFO]
Brandeis may keep art, says president [Boston Globe]
Critics Blast Brandeis Plan to Close Rose Museum, Sell Artworks [Bloomberg]
Protests, Rumors swirl in Rose Musem closing [Artnet]
Q&A with Rose Art Museum director Michael Rush [ArtJournal]
A Madoff Sell Off? [TIME]
Brandeis on the Brink [The Daily Beast]
Save the Rose Art Museum [Facebook]

More detail on the story after the jump…

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Alanna Heiss via ArtNet

Alanna Heiss has retired after 37 years of curating MoMA’s PS1; an article on her final show [NYTimes]
$250,000 worth of prints including those by Pablo Picasso, Henri Matisse stolen in Berlin [AssociatedPress]
A chronicle of the rise of auction prices before the fall, and a rumor that 2/3 of the bidders for Hirst’s monumental September auction may not actually pay for the works, and part 2 here [Bloomberg]
A video of  Eric Fischl at Mary Boone [Newarttv]

Egon Schiele’s Portrait of Wally via the ArtNewspaper

US lawsuit filed to confiscate Egon Schiele’s Portrait of Wally from the Leopold Museum in Vienna is suspended [ArtNewspaper]
Art dealers as paparazzi fodder?  White Cube owner Jay Jopling garners attention with singer Lily Allen in St. Barths [TheMirror]
also on the island, dealer Larry Gagosian and the band Kings of Leon fete collectors Roman Abramovich, Dasha Zhukova and Aby Rosen, designer Marc Jacobs, hip hop mogul Russell Simmons, musician Jon Bon Jovi and actor Daniel Craig among others [IndependentUK]
In other art world vacation news, Damien Hirst hires 4 guards formerly in the British Special Forces to protect him during his Mexico holidays [MercoPress]

The Chanel Mobile Art Pavilion via architecturelist

The Zaha Hadid-designed Chanel Mobile Art tour is stopped; London, Moscow, and Paris canceled [ArtInfo]
Emmanuel Perrotin on three current Parisian exhibitions [The Moment – NYTimes]
MoMA to launch two-year series of live performance works [NYMag]
Collector Ronald Lauder interviewed at his Klimt-rich Neue Galerie in New York [Financial Times]
Damien Hirst bans a documentary film of his Statuephilia work [TelegraphUK]
The Velvet Underground’s John Cale will represent Wales at Venice Biennale of Art next year [BBC]
The controversial act of State museums deaccessioning works [NYTimes]
The Getty endowment has declined 25% [LATimes]
Art Info’s Top 5 art world figures of 2008 [ArtInfo]

Untitled (mattress) (1991) by Rachel Whiteread, via The Museum of Modern Art

Brazilian Photographer Vik Muniz has curated an exhibition at the Museum of Modern Art featuring approximately 80 works from the museum’s collection, including those by Eugène Atget, John Baldessari, Marcel Duchamp, Nan Goldin, Gordon Matta-Clark, Pablo Picasso, Dieter Rams, and Rachel Whiteread. The exhibit is part of Artist’s Choice, a series of exhibitions where an artist becomes a curator using selected works from the Museum of Modern Art’s Collection.

Muniz often questions the traditions and symbolism of visual representation by contrasting unlikely materials to depict subjects in his photographs. In this exhibition he has similarly brought works together out of their normal museological classification, thus allowing the viewer to create their own visual interpretation of artworks based on various linkages and connections. For the show’s theme, he employs a rebus, a puzzle that uses carefully connected images and symbols to create a phrase or a sentence. Instead of forming a sentence, he organizes the artworks by linking them through similarities in material, subject matter, technique, and form.

Artist’s Choice: Rebus, Vik Muniz
Museum of Modern Art
New York, New York
through February 23, 2009
Exhibition Page: Artist’s Choice: Rebus, Vik Muniz
Press: ‘Art’s Choice + Muniz = Rebus’- Connecting the Dots at the Museum of Modern Art New York [New York Times]
Vik Muniz on Guest-Curating his MoMA Show, ‘Rebus’ [New York Mag]
Vik Muniz Creates Rebus, an Inventive Narrative of Works from MoMA’s Collection [ArtDaily]

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Improvisation 19 (1910) by Wassily Kandinsky, on display at Lenbachhaus, Munich, Germany

The Lenbachhaus in Munich drawing on support from the Centre Pompidou in Paris, and the Guggenheim Museum in New York which have pooled their collectively large collections of works by Wassily Kandinsky to mount a major retrospective of the oft-overlooked artist’s oeuvre, re-examining his influence on subsequent generations of artists and aesthetic schools.  The retrospective features a total of 95 works from all periods of Kandinsky’s five decade career, focusing on the major, large scale pieces that were instrumental in Kandinsky’s own evolution as an artist.  Kandinsky was a founding pioneer of Abstract Expressionism, through his works as well as his theoretical treatises and writings.   His methodical approach to conveying abstraction through color, line and form demonstrates a very sharp intellect that also has the ability to create accessible works of art, an ability which has been successfully replicated by very few abstract painters since his death in 1944.

Those unable to make it to Munich before the end of the exhibition will be able to view it April 8th to August 10th, 2009 at the Pompidou in Paris, and from September 18th to January 10th, 2009 at the Guggenheim in New York.  Each leg of the exhibit will emphasize works in that particular museum’s Kandinsky collection: the artist’s Blue Rider period is strongly represented at the Lenbachhaus, while the Pompidou will exhibit numerous pieces from his time in Weimar Germany (heavily influenced by the Bauhaus movement of the time). The Guggenheim’s collection, in turn, heavily features pieces from Kandinsky’s Parisian sojourn. The three museums, which individually have the three largest Kandinsky collections, have pooled their resources to create an retrospective of unprecedented scale. Pieces from private collections and other museums in Russia, Switzerland, the United States and other countries were also added to the pool, offering spectators a unique opportunity to view multiple seminal works of art in one viewing.

KANDINSKY: ABSOLUTE. ABSTRACT.
Stadtische Museum, Lenbachhaus,
Munich, Bavaria, Germany
through February 22nd, 2009

Museum Website: Lenbachhaus
Exhibition Page: Kandinsky: Absolute. Abstract.
Treatise by Artist: ‘Concerning the Spiritual in Art’
Kandinsky Gallery at the Guggenheim Musem
The overlooked great in the history of modern art: an artist who found new levels of meaning [GuardianUK]

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“Livre, pipe et verres” (1915) by Juan Gris, Christie’s, via Artnet

CHRISTIE’S IMPRESSIONIST AND MODERN ART, New York, Thursday November 6th

Total Lots Offered: 82
Total Lots Sold: 46
Total Sales Value: $146.7 million
Total Sales Pre-Auction Estimate: $240.7 million

This is the first of five articles that will summarize in parts the auction results following AO’s last covered Wednesday November 5th Christies Auction covered by AO here. Following a day where the Dow Jones industrial average dropped over 400 points, overall, Christie’s Impressionist and Modern art auction, the second evening sale of the week, was perhaps successful versus others in the week. Though overall sales were poor, the six guaranteed works sold. In total, 44% of the lots failed to sell, or rather, of the 82 pieces offered 36 works were brought in (37% by value). Auctioneer Christopher Burge quoted to Bloomberg after the sale: “Obviously, prices have changed, we’d be foolish not to recognize that.”

The auction totaled $146.715 million against a pre-sale estimate of $240.7 million to $337.2 million. Marquee works from Juan Gris, Pablo Picasso, and Wassily Kandinsky brought high prices but works by Claude Monet and Henri Matisse met little to no interest. New world auction records were set for Cubist master Juan Gris, Henri Laurens, American artist Alice Neel and for Seurat and Magritte for works on paper. 27 of the 46 works that did sell earned in excess of $1 million. 61% of buyers were Americans, 26% Europeans and 11% (other) with 2% going to Middle Eastern buyers.

Gris Sets Record in Slow Christie’s Auction [New York Times]
World Record For Juan Gris at Christie’s New York – “20.8 Million For Livre, pipe et verre” [Art Daily]
Christie’s Impressionist Sale Falls Short; 44% Fails to Sell [Bloomberg]
Some Gloom, Some Records at Up-And-Down Night at Christie’s [ArtInfo

more detail and pictures after the jump…

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On Wednesday November 5th, Christie’s conducted its sale of the estates of two separate widows (the Alice Lawrence and Hillman family collections) bearing similar works of mostly late 19th and early to mid-20th century pieces, in an auction thus titled “The Modern Age.” These auctions included works by headliners such as Pablo Picasso, Paul Cézanne, Mark Rothko, Fernand Léger, Edouard Manet, Henri de Toulouse-Lautrec, Amedeo Modigliani, Giorgio De Chirico and René Magritte. The event followed the latest Sotheby’s auction for Impressionist and Modern art on Monday (as covered by AO here) which disappointedly totaled $223.8 million against the $338 million low estimate. Additionally, the Modern Age sale corresponded to a particularly steep post-presidential race drop in the public equity markets in which the Dow plunged 486 points.

The auction results were no surprise considering the current tepid environment in the art market: The two collections listed 58 lots, of which 17 did not sell, for a total sale of $47 million, which was less than half of its $104 million low estimate. Christie’s said 51% of buyers were American and 29% European. Though Surrealist lots by Magritte (see image above) and De Chirico (see below) did well, of the lots that were brought in were the most expensive of the sale, notably, Manet’s “Fillette sur un banc/Girl on a Bench,” a 1880 portrait of a girl with a wide-brim hat estimated at $12-18 million (see image below), and Rothko’s “No. 43 (Mauve),” estimated at $20-30 million. Other works by Cézanne, Renoir, and de Kooning also failed to sell.

Bleak Night at Christie’s, in Both Sales and Prices [NY Times]
Art-Market Rout Persists: Rothko Snubbed at Auction [Bloomberg]
Buyers Cool to Private-Collection Art at Christies [Reuters]
Market Forces Bring Fire-Sale Prices for Christie’s “Modern Age” [Art Info]
The Modern Age: Property from the Hillman Family Collection [Art Daily]
Christie’s Wan and Woeful Night [CultureGrrl]
Christie’s Website

more auction results, quotes and images after the jump…

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Kazimir Malevich’s 1916 painting Suprematist Composition sold for $60 million via International Herald Tribune.

The results of the Sotheby’s New York Impressionist and Modern Art auction Monday night were overall dissapointing, despite some noteworthy lot results of works by Malevich, Degas and Munch. Fears of an art-market meltdown have been fueled by recent lukewarm results at London’s Frieze art fair and the abrupt pulling from the auction of the 1909 Picasso that was expected to sell for over $30 million. While the Sotheby’s evening total on Monday stood at 45 works sold for $223.8 million, it was well below its initial estimates of $337 million to $476 million, which were set over the summer before the financial crisis. The sale was the lowest for an Impressionist evening sale at Sotheby’s since May 2001. David Norman, an executive vice-president at Sotheby’s was quoted by the Guardian as saying “Anyone would expect people to be more circumspect in this environment. We’re selling in a very uncertain world.”

Auction Season Opens With Little Enthusiasm [NY Times]
Art Market `Corrects’ as Lots Go Unsold at Sotheby’s [Bloomberg]
Three Big Lots Pace Respectable Showing at Sotheby’s [ArtInfo]
New York sales hit record highs amid signs that the art market is dropping [Guardian UK]
Work by Kazimir Malevich sold for record $60 million [International Herald Tribune]
Kazimir Malevich’s Suprematist Composition Sets Record at Sotheby’s Sale [Art Daily]
Opening of Fall Art-Auction Season Marked by Crappy Sales, Great Deals [NYMag]
Flat result at NY season’s first art auction [Reuters]
Munch artwork fetches record $38m [BBC]

more results and pictures after the jump…

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Danseuse au Repos, the 1879 painting by Edgar Degas is a highlight of this evening’s Sotheby’s auction though it remains to be seen if it will sell for its estimated $40 million, via NY Times

After extremely high sales in May which tallied $1.56 billion, and then more recently lackluster sales in London which missed low estimates by up to $40 million, as covered by Art Observed here, the art world is up for a major test in the next two weeks as Sotheby’s and Christie’s begin tonight selling contemporary, impressionist, and modern works that add up to high estimates of $1.76 billion, including a work by the Russian Kazimir Malevich (“Suprematist Composition” 1916, a $60 million geometric work) and a $40 million self-portrait by Francis Bacon and other works from high profile financiers Kohlberg, Kravis, Roberts & Co. co-founder Henry Kravis and Lehman Brothers Chief Executive Officer Fuld.

Despite Pablo Picasso’s 1909 painting ‘Arlequin’ (which was estimated at $30 million) being pulled before the Sotheby’s auction recently, this evening’s Sotheby’s impressionist and modern art sale is slated to tally about $320 million and includes 71 lots including “Danseuse au repos” by French Impressionist Edgard Degas which is expected to go for $40 million (pictured above).

This auction will be followed by Christie’s $153 million high estimate November 5th sale which includes works from the estates of the widows, Rita Hillman and Alice Lawrence, and then a November 6th sale, comprised of art from various owners, estimated to total up to $344 million. Sotheby’s November 11th sale of contemporary art could total up to $281.6 million and features works by John Currin, Richard Prince, and Yves Klein. Following that is Christie’s November 12th sale with a high estimate of $321.7 million, featuring Metallica drummer Lars Ulrich’s Jean-Michel Basquiat painting of a boxer at an estimate of $12 million.

On Auctions Overall:
Big Prices, Big Risks at Fall Art Auctions [NY Times]
NY art auctions under microscope amid financial crisis [AFP]
Art world dreading declines at upcoming key NY sales [Reuters]
Kravis, Fuld Brace for N.Y. Auctions as Collectors Lower Prices [Bloomberg]
Falling under the hammer [Financial Times]
It’s not a pretty picture Christie’s, Sotheby’s may be on the hook [New York Post]
Art sales face acid test in midst of credit crunch [Financial Times]
Exceptional Work by Francis Bacon Leads Christie’s New York Post-War & Contemporary Art Sale [ArtDaily]
Things Are Cold, Clammy at City Auction Houses [NYObserver]

From ArtObserved:
Metallica’s drummer to sell Basquiat painting at Christie’s New York, November 12th auction; ‘Boxer’ to be displayed during Frieze Art Fair in London [ArtObserved]
Sotheby’s hopes to smash Russian art at auction record with $60 million sale of Malevich painting in New York on November 3rd [ArtObserved]

On withdrawn Picasso:
Picasso work withdrawn from Sotheby’s sale [Reuters]
Picasso painting pulled from sale [BBC News]
Picasso Work Is Withdrawn From Sotheby’s Sale [NY Times]
Sotheby’s Withdraws Picasso’s Arlequin From Impressionist and Modern Art Sale [Art Daily]
Picasso Withdrawn From Sotheby’s Imp-Mod Sale [Artinfo]
Picasso painting withdrawn from Sotheby’s auction [Associated Press]

Auction Information:
Impressionist & Modern Art Evening Sale – Sotheby’s November 3 [Sotheby’s]
Christie’s Impressionist/Modern Evening Sale November 5th [Christie’s]

more pictures from the Sotheby’s Sale and other auctions after the jump…

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George Michael via TelegraphUK

At Frieze, George Michael and partner annouce plans for 10,000 sf Dallas space for $200 million in British contemporary art [FirstPost]
Emily Rauh Pulitzer gives $45 million for Harvard’s collection, as well as 31 works, incuding Picasso, Modigliani, and Giacometti valued at an additional $200 million [Boston Globe]
Jackie Wullschlager summarizes 20 years following Damien Hirst’s curated “Freeze” show of YBA ‘s [FinancialTimes]
Two new London outposts for existing galleries: Yvon Lambert across from White Cube and Pilar Corrias in Rem Koolhaas-designed space in Fitzorivia [ArtReview.com]
A Fernando Botero video interview on his Circus series, and part two here [Vernissage]
In new Moscow Museum of Modern Art branch, Sotheby’s previews 50 20th-century works, including Bacon, Warhol and Picasso to be sold for estimated $200 to $300 million in New York in November [The Moscow Times] more on that, and Christie’s Moscow previews, here [NYTimes]

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A London building-side JR via Woostercollective

Some large works mark JR’s return to London from NYC (previously covered by AO here) for a solo show at Lazarides [Woostercollective]
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The Tate will brand a cruise ship line focused on art [GuardianUK]
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Jackie Wullschlager’s biography of Marc Chagall reviewed [The Economist]
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Focusing on the sculptures of Pablo Picasso [Wall Street Journal]
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Due to gambling regulatory concerns, Lazarides cancels ‘art raffle’ meant to coincide with Frieze [ArtInfo]
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Tar magazine (anagram of art) debuts with a cover by Julian Schnabel [Mediabisto]
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The Chapman Brothers produce a fuzzy backdrop for Stella McCartney’s spring/summer show in Paris [Independent]

Le Rêve, Pablo Picasso (1932) via Ocasionalidades

The $139 million Picasso painting, Le Rêve, that was damaged in 2006 by billionaire Stephen Wynn will be publicly shown for the first time since the accident at Acquavella Galleries in New York City.  Stephen Wynn, the operator of a Las Vegas casino and one of the most significant art collectors in the world, damaged the Picasso painting when he accidentally bumped it with his elbow back in 2006, only hours after agreeing to sell it to Steven Cohen for $139 million.  The sale was canceled due to the damage of the painting.  Since then, the painting has been repaired and will be included in the upcoming Picasso exhibit opening October 15 at Acquavella Galleries. The exhibit will include an estimated $500 million worth of artwork, much of which is not for sale.

Watch Those Elbows: Wynn’s $139 Million Picasso Joins N.Y. Show [Bloomberg]
Acquavella To Show Wynn’s Damaged Picasso [NYSun]
Steve Wynn’s Repaired Picasso Joins New York Show [Artinfo]
The $40-Million Elbow [New Yorker]

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