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May 2008 Market Intelligence

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Fine art

Jeff Koons is it a new record

artinvestment.ru

Jeff Koons's Flower - balloon (Magenta) is slated for auction at Christie's in London on June 30, with experts suggesting bids could reach $23.5 million; the sale is tied to the Rachovski collection in Dallas. The article notes related Koons works and past auction records, including a 23.5 million sale for Hanging Heart and 11.8 million for Blue Diamond.

Fine art

Bacon painting stars at Sotheby’s highest-ever sale

artnews.com

Francis Bacon’s Triptych, 1976 sold for $86.3 million at Sotheby’s New York sale, setting a new record for Bacon and for a contemporary artwork at auction. Yves Klein works from the Helga and Walther Lauffs collection also performed strongly, with MG 9 selling for $23.6 million and IKB 1 selling for $17.4 million. The sale totaled $362 million for contemporary art, surpassing pre-sale estimates and Sotheby’s own previous contemporary art high.

Fine art

Resilient Market Marches On at $1.6B Spring Sales

artnews.com

No usable Maegis blog-specific headline fields could be determined from this blue-chip news page. The article discusses spring art market sales totaling $1.57 billion across Christie’s, Sotheby’s and Phillips, with breakdowns by contemporary, Impressionist, and modern art, but does not present Maegis blog headline fields.

Siegmund Nissel obituary: Amadeus Quartet second violin

independent.co.uk

The article discusses Siegmund Nissel, who was the second violin in the Amadeus Quartet, a renowned string quartet formed in London after World War II. It covers his origins, escape from Austria, internment in the Isle of Man during World War II, and his later musical development and collaborations with fellow quartet members.

Fine art

Sotheby’s London to offer exceptionally rare study for Head of George Dyer by Francis Bacon

auctionpublicity.com

Francis Bacon's Study for Head of George Dyer, 1967, is highlighted as an exceptionally rare portrait in Sotheby’s Evening Sale of Contemporary Art in London. The work was acquired by its current owner from Marlborough Gallery and has a pre-sale estimate in excess of £8 million. It references Bacon’s relationship with Dyer and Tate Britain’s retrospective of Bacon in 2008.

Fine art

Bacon’s Triptych breaks auction record

irishexaminer.com

Bacon’s Triptych, 1976, sold for $86.3m, surpassing the previous record of $52.7m for Study for Innocent X (1962). The three-panel work depicts a headless figure with three vultures and two disfigured portraits, and is linked to myths of Prometheus and The Orestia; the sale was at Sotheby’s and the seller was a private EU collector. The article also notes a separate record for a living artist by Lucian Freud, selling for $33.6m at Christie’s in New York.

Fine art

Bacon Triptych Auctioned for Record $86 Million

nytimes.com

Francis Bacon’s 1976 Triptych sold for $86.3 million at Sotheby’s, becoming the most expensive contemporary artwork sold at auction; the sale totaled $362 million with 83 works, and 18 artist records were set. The painting was sold by the Moueix family. Yves Klein and other artists such as Piero Manzoni, Tom Wesselmann, and Takashi Murakami were mentioned in relation to the auction.

Fine art

Bringing Home the Bacon

artforum.com

Sarah Thornton at Sotheby’s Contemporary Art Evening Sale discusses the sale, including Takashi Murakami’s My Lonesome Cowboy (1998) which sold for $15.2 million, and Yves Klein’s MG9 from circa 1962 as part of the event that totaled $362 million.

Fine art

Freudian Analysis

artforum.com

Sarah Thornton at Christie's Post-War and Contemporary Art Evening Sale; the article discusses the Christie’s Post-War and Contemporary Art Evening Sale and notes the sale of Tom Wesselmann’s Smoker #9 and Andy Warhol’s Double Marlon, including prices achieved.

Fine art

Lucian Freud’s Benefits Supervisor Sleeping sells for record $33m

thetimes.com

Lucian Freud’s life-size portrait Benefits Supervisor Sleeping, depicting Sue Tilley, sold at Christie’s in Manhattan for $33.64 million, a new record for a living artist. The painting was painted in 1995 and is part owned by Christie’s. The buyer was not disclosed.

Fine art

Miller Collection’s Seventeen Works Head to Christie’s London

Christie’s

Christie’s announced seventeen Impressionist and Modern works from the J. Irwin and Xenia S. Miller Collection for its June London sale, expected to exceed £40 million. Monet’s 1919 Le bassin aux nymphéas led a group that also included Matisse, Bonnard, Chagall, Picasso, Kandinsky and Pissarro.

Fine art

Munch and Leger paintings set sale records

telegraph.co.uk

The article reports that Sotheby’s achieved record prices for Leger and Munch paintings during an evening auction, with Leger’s Study for the Woman in Blue selling for $39.2 million and Munch’s Girls On A Bridge selling for $30.8 million; Monet’s The Railroad Bridge at Argenteuil sold at Christie's New York for nearly $41.5 million. It notes mixed signals for the market and that nearly one in five lots failed to sell.

Cabbies rewarded for returning $4 million violin

npr.org

The NPR article reports that Grammy-nominated violinist Philippe Quint left his $4 million Stradivarius in a Newark taxi and that taxi driver Mohammed Khalil recovered and returned the instrument to Quint. Quint later rewarded the cabbies for their honesty with a private concert.

Cabdriver thanked for returning a Stradivarius

nytimes.com

The New York Times article covers violinist Philippe Quint thanking a Newark cabdriver after Quint’s Stradivarius violin, valued at $4 million, was returned after being left in a cab; the story notes Quint’s gratitude and describes the cabdriver’s honesty and the moment of the return.

Fine art

Monet painting sells for $41.4 million at Christie's

cbsnews.com

Claude Monet’s painting Le Pont du chemin de fer a Argenteuil sold at Christie's for $41,481,000, setting a new auction record for the artist. The sale exceeded an estimated range of $35 million to $40 million and the buyer’s identity remains anonymous; the Nahmads were reported as possible sellers. A second Monet work from the Nympheas series sold for $11,689,000.

Fine art

Christie’s Impressionist and Modern Evening Sale Totals $277.3 Million

Christie’s

Christie’s New York reported $277.3 million from its Impressionist and Modern Art evening auction, its third-highest category total at the time. Monet’s Pont du chemin de fer à Argenteuil set a $41.48 million record, while works by Rodin, Giacometti and Miró also established new artist benchmarks.

Fine art

We learned the name of the buyer's most expensive paintings of Mark Rothko

artinvestment.ru

The article reports that the buyer of Mark Rothko's White Center, sold at Sotheby's New York on May 15, 2007 for 72.8 million dollars including commission, was a Qatari sheikh. It also notes the same auction included Francis Bacon's The Theme of Pope Innocent X for 52.7 million dollars, and mentions Hamad bin Khalifa al-Thani as a prior significant buyer.

Virtuoso to give concert to thank Egyptian driver who returned 4 million violin

dailynewsegypt.com

The article reports violinist Philippe Quint plans a private 30-minute performance at Newark Liberty International Airport to thank Mohamed Khalil, the Egyptian-born taxi driver who returned Quint's 1723 Antonio Stradivari Ex-Kiesewetter violin valued at $4 million. The instrument had been on loan from philanthropists Clement and Karen Arrison of Buffalo, New York; Khalil will also receive tickets to Quint's New York performance at Carnegie Hall on Sept. 23.

Fine art

In separate events, Qatar’s ruling family buys 72.8m Rothko, 52.7m Bacon, 19m Hirst

artobserved.com

The article reports that the Qatari ruling family, Emir Sheikh Hamad bin Kalifa Al-Thani and his wife, purchased Rothko’s White Center (Yellow, Pink and Lavender on Rose) for $72.8 million and Francis Bacon’s Study from Innocent X for $52.7 million, with Damien Hirst’s Lullaby Spring selling for £9.7 million; purchases occurred through Sotheby’s in 2007, with further plans for museums and galleries in Doha and related Gulf region cultural expansions.

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