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May 2003 Market Intelligence

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Fine art

Despite the recession avid collectors are still flocking to the International Fine Art Fair

theartnewspaper.com

The Art Newspaper reports that the 10th International Fine Art Fair, organized by Brian and Anna Haughton, ran from 9 to 14 May at the Seventh Regiment Armory and featured Old Master and modern paintings, drawings, and sculpture. Highlights included Jan Breughel the Younger’s Landscape with a village feast sold to Galerie d'Art Saint-Honoré for about $2.4 million, and notable works in works on paper such as Redouté's Hydrangea, Hyacinths, Saint-Jacques Lilies and Daisies sold for $600,000; an 1817 Ingres pencil portrait of Mrs Pellew sold for $450,000; a Klee watercolour Kopfracht sold for $650,000; a Fontana Concetto Spaziale sold for $585,000; and other six-figure sales across several dealers.

SOLD to the man in the mask

tarisio.com

The article reports on Tarisio Auctions' online sale of rare violins, highlighting the sale as the second-highest-grossing violin auction ever at $3.3 million and noting the Stradivarius ex-Jan Kubelik fetch of $949,000 as the priciest early-period Stradivari. It also mentions Isaac Stern’s violins sold, including a copy by Samuel Zygmuntowicz of the Vicompte de Panette Guarnerius, which sold for $130,000.

Fine art

John Sloan’s Easter Eve tops Sotheby’s auction at $3,032,000

antiquesandthearts.com

John Sloan’s Easter Eve, a nighttime New York City scene from 1907, was the top lot at Sotheby’s auction, selling for $3,032,000. The Potamkin Collection’s top lot was Theodore Robinson’s Boats at a Landing, which sold for $2,136,000, exceeding its high estimate; several other artists set auction records.

In Moscow the legendary Stradivari violin to be presented

newsru.ru

The news reports a presentation of the legendary Stradivari violin, the Emperor of Russia, created in Cremona in 1708, to be shown in Moscow alongside Kremlin Armory rarities. The concert in which the instrument will be heard is scheduled for May 20 at the Pushkin Museum; participants include Andrey Rozenydent, Dmitry Kogan, and Alena Baeva, according to ITAR-TASS.

In Moscow, presentation of the legendary Stradivari violin to take place

palm.newsru.com

The article reports that the legendary Stradivarius violin known as the Emperor of Russia, made in Cremona in 1708 by Antonio Stradivari, will be presented in Moscow in the Kremlin Armory surroundings. The event line-up includes concert performances at the Pushkin Museum on Prechistenka with participants Andrey Rozendant, Dmitry Kogan and Alena Baeva.

Pохищенная скрипка Страдивари найдена в Твери

utro.ru

The article reports that a unique Stradivarius violin stolen from a private collection in Tver was found by Tver police during operations and seized from a 25-year-old local resident. The article notes the violin’s label and its provenance as claimed by the claimant, and that an уголовное дело was opened under Article 164 of the Russian Criminal Code.

Fine art

The gavel falls on Enron artworks

washingtonpost.com

Claes Oldenburg’s Soft Light Switches sold for $360,000 (total price $405,500 including commission) at Phillips de Pury & Luxembourg, part of Enron’s five-work auction that yielded about $1 million. The sale included works by Donald Judd and Jack Pierson; Enron owed billions amid Chapter 11 filings since 2001.

Fine art

Waksal art sale former ImClone boss takes 19% loss on paintings

nypost.com

Sam Waksal, founder of ImClone Systems, sold two paintings at Sotheby’s for a 19 percent loss, after paying $3.3 million for the pair which brought in $2.7 million. He is liquidating nine masterwork paintings bought for $15 million. The article mentions Gagosian’s involvement and bids at Sotheby’s, including a $5.27 million Jackson Pollock and other works by Willem de Kooning and Roy Lichtenstein.

Fine art

Rothko sale tops Christie’s auction as Pinault’s painting leads

nytimes.com

The New York Times report covers Christie’s auction night where Mark Rothko’s No. 9 (White and Black on Wine) led sales, selling for 16.3 million to Robert Mnuchin; Arshile Gorky’s Year After Year failed to meet its estimate of 13-15 million; François Pinault emerged as the top seller, with Christie’s handling his Rothko sale. The event totaled 69.7 million, with 18 of 61 works unsold, and comparisons were drawn to Sotheby’s lower 27.3 million showing.

16-летняя школьница пыталась вывезти из России скрипку Страдивари

utro.ru

The article reports that a 16-year-old schoolgirl was found with a Stradivari violin during customs checks at the Russia–Finland border. The instrument bore an internal mark reading Amadeus Stradivarius 1713. The girl did not declare the violin and had no export permit for cultural valuables. Experts will decide its fate, with possible outcomes including the violin going to the state or being returned to the owner. No further personal details about the girl were released.

Berlin cello theft may have been a commissioned job

tagesspiegel.de

The article reports that an expensive cello owned by Alban Gerhardt was stolen from his rehearsal cellar in Charlottenburg. The instrument is described as a masterwork by the Italian Lorenzo Guadagnini created in collaboration with Giovanni Battista 1741. Police are seeking tips on the instrument’s whereabouts, and Gerhardt, who is a renowned cellist, may need to perform with a replacement instrument during upcoming sessions in England.

Fine art

New Goya finds fetch €3.5-million at auction

iol.co.za

Two previously unknown paintings by Francisco de Goya were auctioned in Madrid for €3.5-million (about R29-million). The Spanish state acquired them via right of first refusal, likely for display at Madrid's Prado museum. The works are Sagrada Familia (Holy Family) and Tobias y el Angel (Tobias and the Angel), painted in 1787.

Fine art

El estado compra dos goyas religiosos por 3,5 millones

elpais.com

El Estado compró por 3,5 millones de euros dos cuadros de Francisco de Goya, de tema religioso, tras una subasta de Alcalá Subastas en Madrid. Los lotes formaban parte de una colección tasada previamente y fueron declarados inexportables por la Junta de Calificación, Valoración y Exportación de Bienes del Patrimonio Histórico Español.

Fine art

Wynn wins Renoir for $23.5 million at Sotheby’s auction - Los Angeles Times

latimes.com

Steve Wynn paid $23.5 million for Pierre-Auguste Renoir's Dans les Roses (Portrait de Madame Leon Clapisson) at Sotheby’s in New York. Three works consigned by the Museum of Fine Arts, Boston, two Degas pastels and a Renoir painting, also sold for about $14 million. The auction total was $65.6 million, below the $70.9 million low presale estimate, with 11 of 39 works not finding buyers.

Fine art

Rejected Renoir sold for £14.6 million

telegraph.co.uk

Pierre-Auguste Renoir painting titled In The Roses (a portrait of Mme Leon Clapisson) sold for £14.6 million at Sotheby's in New York. The work had been rejected by the commissioner, Leon Clapisson.

Fine art

마그리트作 하늘새 47억원에 경매

munhwa.com

Belgian surrealist painter René Magritte's work L’Oiseau de Ciel (Sky Bird) was auctioned for 3.4 million euros (about 4.7 billion KRW) to raise severance for workers of the bankrupt Sabena airline; the painting is noted as one of Magritte's best-known cloud-and bird images sold in years. The owner Sabena Airlines had kept it since the 1960s after commissioning the work.

Fine art

Venden un Renoir por 23 millones de dólares

elpais.com

Sotheby’s vendió la pintura Dans Les Roses (Madame Leon Clapisson) (1882) de Pierre-Auguste Renoir por 23,5 millones de dólares, con comisión incluida, a un empresario de Las Vegas, Steve Wynn. La obra, previamente estimada entre 20 y 30 millones, fue adquirida vía teléfono móvil durante la subasta que marcó el inicio de la temporada de primavera.

Fine art

N.Y. art dealer arrested in Picasso, Monet deals

deseret.com

Michel Cohen, a New York art dealer, was arrested in Brazil for allegedly selling Pablo Picasso's Nu Accroupi for $4.5 million and collecting $7.5 million for a Monet painting he did not deliver. The gallery involved was Richard Gray Gallery in Manhattan, and extradition proceedings were initiated by U.S. authorities.

Fine art

L oiseau du ciel by Magritte sold for 3.4 million euros in Brussels

elpais.com

The Magritte painting L oiseau du ciel, an oil on canvas, 68.5 by 48 cm, was sold in Brussels for 3.4 million euros during Sabena's collection sale. The buyer’s identity was not disclosed, but it was noted the purchaser is a well-known Belgian figure and the work will not leave the country; the sale also included other Sabena assets and items such as 30 numbered lithographs.

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