Jean-Michel Basquiat, Dustheads (1982), via Christie’s

This week, Sotheby’s and Christie’s released their sales reports for the first half of 2013, with both sides announcing record sales figures. Christie’s has achieved a global sales total of £2.4 billion, including buyers’ premiums, a 9% increase on last year’s figure. The total includes the private sales of £465.2 million, an increasingly popular segment of the sales market, which saw a 13% growth from last year. The report also marks the third year in a row that the auction house has set new records for the period in both company and art market history.

Pablo Picasso, Étreinte (1971), via Sotheby’s

(more…)

Fearing for her son, the suspect in the theft of seven paintings by Picasso, Monet and more from a Dutch Museum, a Romanian woman has come forth saying that she has burned the paintings in her stove.  Olga Dogaru, the mother of suspect Rodu Dogaru, had buried the works when her son was arrested, and finally destroyed them in February.  Investigators are analyzing the contents of her stove to check for evidence of the works, which were worth tens of millions of dollars. (more…)

The sale of Pablo Picasso’s 1909 work Compotier et tasse has been blocked by U.S. authorities at the request of the Italian government.  The painting’s current owners, Gabriella Amati and her late husband, Angelo Maj, are being charged with embezzling $44 million from the city of Naples, and the work is suspected to have been purchased with the stolen money.  Immigration and Custons Enforcement director John Morton said: “Restraining this valuable artwork is an effort to help recover some of the estimated $44 million that this couple stole from the tax-paying citizens of Naples.” (more…)

Uriel Landeros, the University of Houston student who spray-painted over Picasso’s Woman in a Red Armchair at Houston’s Menil Collection, has been sentenced to two years behind bars for vandalism.  Landeros was facing up to 10 years in prison for felony vandalism, but pleaded guilty for a reduced sentence.  “We are heartened and grateful that the judicial process has come to completion,” said Menil spokesperson Gretchen Bock Sammons. “As for the Picasso, the restoration is complete and successful and the painting will eventually go on view — as works from the collection do, in rotation.” (more…)

Renowned art historian Sir John Richardson is profiled in a long interview with the Financial Times this week, speaking about his life, his career, and his expansive biography of Pablo Picasso. “I used to bounce out of bed to write. In the old days I shinned up a ladder, got a book down, looked in the index – I can’t do that now. But the chance is that I won’t be able to get to the end of the Life [of Picasso], not because of my health or my eyes but because, well, I know too much. I know where the bodies are buried. I think I’ll stop in 1962, when Picasso and Jacqueline got married.” (more…)

Pablo Picasso,  Absinthe Drinker (1901), via Courtauld Gallery

The Courtauld Gallery is currently presenting Becoming Picasso, once again bringing together paintings from Picasso’s 1901 debut exhibition in Paris. The works in this exhibition offer a striking view of Picasso’s early work, and his transformation from his early work in the vocabularies made famous at the time by artists such as Van Gogh, Degas and Toulouse-Lautrec. That early Paris exhibition successfully launched Picasso’s career, and several of the works included in the original exhibition are now considered to be some of his first masterpieces. (more…)

Billionaire Hedge Fund Manager and prodigious Art Collector Steven A. Cohen has issued a statement clarifying the details behind the purchase of Picasso’s Le Rêve from casino owner Steve Wynn.  Despite reports of the sale coming to light only recently, the deal was reportedly made last October, at the purchase price of $150 Million, when dealer William Acquavella contacted Cohen about the work’s availibility.  “We were at the gallery the next morning,” Says Sandy Heller, Cohen’s art advisor. “In three minutes we had a deal.”   (more…)

Pablo Picasso, Le Rêve (1932)

Hedge fund manager and notable collector Steven A. Cohen, who has just settled two insider-trading lawsuits with the government, has just purchased Picasso’s Le Rêve for $155 Million.  The exchange, between Cohen and Las Vegas Hotel Mogul Steve Wynn, is estimated to be the largest price ever paid for a work of art by an American collector. The sale of Le Rêve, Picasso’s 1932 portrait of a sleeping woman, had previously been discussed between Wynn and Cohen, particularly in 2006, when the sale was canceled after Wynn accidentally thrust his elbow through the piece, causing a 6-inch tear.  “Steve has wanted that painting for a long time. The timing of the sale is just a coincidence.”  Said an unnamed source.

Steven A Cohen, via Patrick McMullan

(more…)

Pablo Picasso’s much-loved painting, Child with Dove (1901), is likely to leave the UK for good this year.  The work recently changed hands, and the anonymous new owner is free to take the work abroad once its current loan ends in May.  “With arts cuts the way they are, it’s going to be increasingly difficult. (The Picasso) is, of course, a catastrophic loss. (But) it’s about being realistic: work is going to leave.”  Said Alan Yentob, creative director at the BBC. (more…)

Franz Ackermann, Walking South (2012), courtesy Faena Arts Center

Before installing the site-specific Walking South at Faena Arts Center in Buenos Aires, Franz Ackermann walked, trained, biked and bussed across the city for two months. Once, he took the train to the outskirts of the city and walked the same distance back, all part of his psychogeographical plan to map the city.

The result is a 260-square-meter (equal to ten highway billboards) multi-layered, 25-panel installation bursting with Ackermann’s emotional response to the landscape, dirt, people and air of Buenos Aires. Black and white photographs of buildings, cars, and street corners are a somber base for bright, unexpected shapes that extend from a busy center node, which is a tangle of red, blue, and grey tentacles growing from jellyfish-like bodies. These irregular bodies float among and encircle photos of reality, both connecting and confusing the viewer.

(more…)

Exiled Philippine dictator Ferdinand Marcos and his wife Imelda acquired many masterpieces, including Picassos and Van Goghs, 146 of which are unaccounted for, according to The Philippine government. Andres Bautista, head of the Presidential Commission on Good Government, told AFP: “The Marcoses were art aficionados and they spent millions of dollars buying up these paintings.” By all estimates the missing paintings are valued at hundreds of millions of dollars. (more…)

Rotterdam Kunsthal, photo Peter Dejong AP

The Kunsthal Rotterdam in the Netherlands suffered the loss of several valuable paintings in a theft around 3:00 a.m. on October 16th, among them Picasso, Monet, Gauguin, Matisse and Lucian Freud. The paintings were part of an exhibition of 150 works in the Triton Foundation’s collection as part of the museum’s 20th anniversary celebration. The burglars set off an alarm at a security agency and authorities responded within 5 minutes, but not in time to catch the suspects.

Picasso Harlequin Head, 1971 courtesy Businessweek

(more…)

Grand Palais, courtesy FIAC

FIAC, or the 39th International Contemporary Art Fair, will open tomorrow (Thursday) in Paris, with a VIP preview today, with 184 galleries exhibiting at the Grand Palais, and this year utilizing the restored Salon d’Honneur as well, which lies at the center of the structure. As in past years, galleries will exhibit sculpture at the Tuilieries Garden nearby. Approximately 65,000 visitors are expected to attend.

Tuilieries Garden courtesy FIAC (more…)

Breaking: Several valuable artworks were stolen from the The Kunsthal museum in Rotterdam on October 15th or 16th, including paintings by Picasso, Matisse, Monet, Gauguin and Freud. Police said the robbery happened on Monday night or early on Tuesday morning. They are reviewing surveillance video and asking any witnesses to come forward. The museum is showing works from the Triton Foundation in a 20th anniversary celebration. (more…)

Lynda Benglis sculptures and Hans Hurting paintings at Cheim & Read’s booth at Frieze Masters. All photos by Caroline Claisse for Art Observed unless otherwise noted

Frieze Masters and Frieze London concluded on October 14th, with both fairs reporting solid sales on the high end. This year, there was a distinct focus on curated booths and curatorial projects and less of an overt feeling of commercialization. Frieze Masters in particular focused on serious connoisseurship and an academic approach, both of which translated into a successful fair for dealers.

(more…)

Two famous Spanish directors, Carlos Saura and Fernando Colomo, will release two films featuring different aspects of Picasso’s life. One will focus on the painting of Guernica, and the other will explore how Picasso became wrapped up in the theft of the Mona Lisa back in 1911. Carlos Saura’s Guernica film will star Antonio Banderas as Picasso and Gwyneth Paltrow as Dora Maar, Picasso’s mistress.

(more…)

The Edinburgh airport has reversed its decision to censor Picasso‘s ” Nude Woman in a Red Armchair.” After complaints from several international arrivals, the airport, covered up the image, which was being used to advertise the Picasso and Modern British Art exhibition at the Scottish National Gallery of Modern Art. The airport now, however, has reviewed their initial decision and reinstated the image after Gallery officials labeled the move as “bizarre” that “somehow a painted nude by one of the world’s most famous artists is found to be disturbing.”

(more…)

 “What is it about Pablo Picasso that attracts vandals?” The Wall Street Journal asks, while contemplating the artistic and social relevance of the recent Picasso vandalism in Houston. The painting, Woman in a Red Armchair  (1929), is being restored and will show again soon.

(more…)

‪‬Sotheby’s to sell some 50 works owned by the late Theodore J. Forstmann in New York throughout May, valued at $75 million and including pieces by Picasso, Miró, Lichtenstein, and Soutine [AO Newslink]

(more…)

‪‬Chinese artist Zhang Daqian tops auction market at $507 million, on top of Warhol and Picasso. Regarding Chinese artists, “They are on top because China is the No. 1 country at auction and the Chinese are buying their own artists,” says Artprice economist Martin Bremond [AO Newslink]

(more…)

Pablo Picasso, Studio with Plaster Head (1925).  © The Museum of Modern Art/Licensed by SCALA / Art Resource, NY.

Modern Antiquity at the J. Paul Getty Museum displays the works of four iconic Modern Art masters who combined ancient objects with 20th-century aesthetics to create what are now seminal artworks. From Picasso’s post-cubist womanly forms to Picabia’s “transparencies,” one can experience the relation of these modern works to their classic counterparts in the setting of the Getty Museum, famous for its antiquities collection. Picasso, de Chirico, Léger, and Picabia each uniquely found inspiration in the antique classical objects in museums that they frequented. Despite the fact these ancient objects belonged to other times and cultures, these artists felt a contemporary affinity towards them as they made up part of their everyday life. This major exhibition focuses on the works these four artists made between 1905-1935.

(more…)

–>
FIAC 2011 at the Grand Palais in Paris. All photos on site for Art Observed by Caroline Claisse.

FIAC 2011 (The Foire Internationale d’Art Contemporain) opens this weekend in Paris for its 38th year. The international art fair, which boasts an impressive array of 168 galleries from 21 countries, will show the work of some 2,800+ artists. Running October 20–23rd, the exposition comes at the tail end of Frieze Art Fair, drawing artists, collectors, gallerists, and enthusiasts eastward from London. While the focus of Frieze leans toward contemporary, FIAC includes both contemporary and modern, including works from Picasso, Calder, and Matisse. The fair has been building momentum since 2006; Jennifer Flay, appointed general director in 2010, credits this boost to the fair’s move to the Grand Palais, one of the city’s most cherished architectural gems. The fair also expands this year to the Jardin des Tuileries, the Jardin des Plantes, the Museum of Natural History, and other venues around the city. Another innovation, a mobile application (in French) is available through Windows Phone which enables visitors to book tickets directly from their phone, as well as receive realtime news updates from the fair, find exhibitors and artists, and access videos and photos of the show.

–>
Jay Jopling of White Cube, which is exhibiting Damien Hirst’s Where Will It End.

More on site coverage and images after the jump… (more…)

‪‬

Auction brewings: A 1961 Roy Lichtenstein could go for $35 million at November 8th auction at Christie’s; a Picasso is estimated to sell for $25 million at Sotheby’s [AO Newslinks]

(more…)

Marie-Thérèse avec une guirlande (1937) by Pablo Picasso, via Gagosian Gallery

Currently on view at Gagosian Gallery in New York is Picasso and Marie-Thérèse: L’amour fou, an exhibition which reveals the paintings, drawings, prints, and sculptures inspired by Marie-Thérèse Walter, one of the most inspiring models of Picasso’s life. The exhibition is a love story of the artist and his muse told through art and is curated by the renowned Picasso biographer, John Richardson in collaboration with Marie-Thérèse’s granddaughter, art historian Diana Widmaier Picasso. It spans the years from 1927 to 1940 and includes several works which have never before been exhibited in the United States.

Following the success of Picasso: Mosqueteros in New York in 2009 and Picasso: The Mediterranean Years in London in 2010, the exhibit presents the next chapter in a continuous exploration of Picasso’s fundamental themes.

More text and images after the jump… (more…)