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March 2006 Market Intelligence

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Fine art

Pre-silkscreen Warhol at auction soon; new CAA president

artforum.com

Warhol's Small Torn Campbell’s Soup Can (Pepper Pot), an early hand-painted work from 1962, will be auctioned at Christie’s in New York for an estimated $10 million to $15 million. Amherst College professor Nicole Courtright has been elected president of the College Art Association for a two-year term, succeeding Ellen Levy.

Fine art

Pinault brings new life to Palazzo Grassi

theartnewspaper.com

The article discusses financier François Pinault, owner of Christie’s, inaugurating a Venetian gallery at Palazzo Grassi with a show drawn from his collection. It notes the acquisition of an 80% stake in Palazzo Grassi, the planned opening show “Where Are We Going?”, and highlights works by Damien Hirst, Jeff Koons, Urs Fischer, Raymond Pettibon, and Carl Andre, with renovations by Tadao Ando.

Fine art

Tax squabble may force sale of €25m pre-Columbian art collection

theartnewspaper.com

The Art Newspaper reports on a €25m pre-Columbian art collection owned by Dora Janssen that may be sold due to a dispute between Belgium's federal government and the Flanders region over inheritance tax. Janssen proposed gifting the collection to Brussels’ Royal Museums of Art and History to offset €7m in estate tax, but regional/federal disagreements threaten the transfer, potentially pushing the works abroad. The situation has delayed other Belgian gifts and involves discussions about compensation and where the works ultimately reside.

Fine art

Munch painting sought

latimes.com

The granddaughter of Alma and Gustav Mahler challenges Austria to return Edvard Munch painting “Summer Night at the Beach” (circa 1902) that was loaned to the Austrian Gallery at Belvedere Castle in Vienna and later given/sold to the museum by Alma Mahler-Werfel’s associates; Mahler claims Austria breached its Nazi-era restitution law.

Svensk fiol slår Stradivarius

svd.se

The article reports that two-valued million-sum violins from 1600s–1700s are compared in a blind test; a violin signed by Peter Westerlund performed best while the Stradivarius finished last. The blind test was organized by the Swedish violin and string instrument association and involved Bernt Lysell and Per Sandklef along with 55 string players and teachers.

Fine art

Five Klimt works get U.S. display – Orange County Register

ocregister.com

Gustav Klimt paintings, including Adele Bloch-Bauer I (1907), are set to be displayed at LACMA. The works, valued at $300 million, were returned to the family of Maria Altmann after a lengthy legal dispute over rightful ownership. The display runs April 4 through June 30 and includes Adele Bloch-Bauer II (1912) and three landscapes: Beechwood (1903), Apple Tree I (ca. 1911), and Houses in Unterach on Lake Atter (1916).

Fine art

Stolen Klimt paintings sent to a California museum

today.com

Five Gustav Klimt paintings that were stolen by the Nazis during World War II were sent to a California museum. Among them is Adele Bloch-Bauer I, valued at $120 million. The paintings were previously housed at the Belvedere in Vienna and are being transferred to the Los Angeles County Museum of Art.

Fine art

Letter From Maastricht; An Art Fair Where Wealth Is on Display With the Rembrandts

nytimes.com

The article discusses Maastricht as the site of the European Fine Art Fair (TEFAF), noting its wealth and the density of world-class art and collectors, including Rembrandts and other masterworks. The piece highlights access to wealthier participants and the intimate experience with art in Maastricht during TEFAF.

Fine art

Buyers vie for abstract art at Sydney sale of Burge trove

artnews.com

The Christie’s sale in Sydney of abstract art from William Burge’s collection drew strong crowds and intense bidding in a 193-lot sale, with estimates of A$2.5/4 million and total realisations of A$5.3 million. Notable works by Robert Klippel and Bridget Riley were highlights, including Klippel pieces such as Opus 300 and Opus 361, and Riley’s Study ’72 Final Scale (Red Crossing Blue and Green), with several records and strong results across artist groups from the 1960s and 1970s Sydney color-field painters. John Kaldor and the Art Gallery of New South Wales were among the notable participants and buyers.

Fine art

Museum glories in pair’s gift – The Denver Post

denverpost.com

Vicki and Kent Logan of Vail bequeath their extensive collection to the Denver Art Museum, along with their Vail home and gallery and endowments to support exhibitions, acquisitions and a curator. The ensemble includes works by Andy Warhol, with the bequest described as the Denver Art Museum’s largest ever and among its most significant developments.

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