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April 2011 Market Intelligence

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A $10 million fiddle? Stradivarius takes another bow at auction

tarisio.com

The article discusses the Lady Blunt Stradivarius, a 1721 Stradivarius violin, and its planned auction by the Nippon Music Foundation in Tokyo to benefit Japan earthquake and tsunami victims. It notes the instrument’s record auction history and comments from Itzhak Perlman and Pinchas Zukerman, highlighting the instrument’s rarity and provenance.

10 million Stradivarius to be auctioned to raise funds for Japan earthquake victims

theatlantic.com

The Atlantic reports that Nippon Music previously paid over $10 million for a 1721 Stradivari violin named Lady Blunt. The foundation will auction the instrument to benefit victims of Japan's earthquake and tsunami, with proceeds going to relief efforts; the instrument is described as one of the best-preserved Stradivaris and was formerly owned by Lady Anne Blunt. The sale is coordinated by Nippon Music Foundation and Tarisio, which currently holds the auction record for a Stradivari at $3.6 million.

Fine art

Lord Beaverbrook's English estate sold to investors, the Globe and Mail reports

theglobeandmail.com

The Globe and Mail reports that Cherkley Court in Surrey, England was sold to Longshot, a consortium of 14 English investors, with plans to convert the estate into a hotel and golf club; the sale price was not disclosed, and the deal follows a legal settlement involving Beaverbrook U.K. Foundation and the Beaverbrook Gallery.

Fine art

Sotheby’s to auction collection of German art of the 60s and 70s

auctionpublicity.com

The article reports Sotheby’s London offering The Duerckheim Collection, a major collection of German art from the 1960s and 1970s, in the Contemporary Art Auction Series in June. It highlights works by Georg Baselitz, Gerhard Richter, Sigmar Polke and other artists, noting 59 artworks expected to realise in excess of £33 million across Contemporary Art Evening and Day Auctions on June 29–30, 2011.

Fine art

Salzburg’s Museum of Modern Art to return Klimt to heir

artforum.com

According to AFP, Salzburg’s Museum of Modern Art will return a 1915 Gustav Klimt painting, Litzlberg am Attersee, to the Canadian descendant Amalie Redlich. Georges Jorisch, Redlich’s heir, plans to donate nearly $2 million from sales of the work to the Salzburg museum; the painting was stolen by Nazis.

Fine art

Austrian museum’s Klimt painting seized by Nazis

seattletimes.com

The painting, Litzlberg am Attersee by Gustav Klimt, is owned by MdM Salzburg and worth up to euro30 million ($44 million). Nazi seizure and restitution discussions involve Amalie Redlich’s heir Georges Jorisch, with Salzburg authorities evaluating restitution.

Grand violon pour grands violonistes

sudouest.fr

The article reports that Bernard Magrez acquired a Stradivarius violin (produced 1700–1720) for his Institut culturel, with an estimated cost of 2 to 3 million euros. The instrument will be loaned to established violonists, such as Matthieu Arama, concertmaster of the Orchestre National Bordeaux Aquitaine, in exchange for performances at venues connected to Magrez’s patronage.

Fine art

Christie’s Chinese Painting Sales Valued Above HK$330 Million

Christie’s

Christie’s announced two Hong Kong sales comprising more than 400 classical and modern Chinese paintings and calligraphy works valued above HK$330 million. The consignments included private collections from several countries and many works appearing publicly for the first time.

Fine art

Spanish police recover stolen masterpieces from Goya and El Greco

artnews.conteart.com

The article reports that Spanish investigators recovered two stolen paintings, Goya's The Apparition of the Virgin of Pilar and El Greco's The Annunciation, which had been missing for 14 years. It notes the works were privately owned at the time of theft and recovered from a private house near Alicante; it also mentions a 2004 El Greco auction at Christie’s in London for 789,250 pounds.

Betrugskrimi um kostbare Geigen: Der tiefe Fall des Stradivari-Dealers

spiegel.de

The article discusses the downfall of violin dealer Dietmar Machold as Austrian and Swiss authorities investigate alleged embezzlement and fraud related to a proposed multi-million euro deal involving a collection of historic string instruments. The story mentions a potential 40 million euro order for a private university and orchestra, Machold’s bankruptcy, and a high-profile pursuit leading to his arrest.

Fine art

Rediscovered Rothko to highlight Christie’s Post-War and Contemporary Art Evening Sale

artnews.conteart.com

Mark Rothko’s undisclosed 1961 painting Untitled #17, oil on canvas, 93 x 76 inches, is the highlight of Christie’s Post-War and Contemporary Art Evening Sale in New York on May 11, 2011, with an estimate of $18,000,000–$22,000,000. The work comes from a private collection and is one of only ten paintings to come to light since the Rothko catalogue raisonné was published in 1998, and will be included in the supplement to the catalogue raisonné.

Benedetti musician's stolen violin returned by thief

bbc.co.uk

BBC News reports that a young Ayrshire musician had her violin stolen during a break-in and later had it returned anonymously to her family home in Dalry. The teenage girl, who had been invited to play with Nicola Benedetti, was described as delighted, and police were continuing to trace the break-in suspects.

Fine art

Auction result reveals disappointment for Sotheby’s Meiyingtang Collection

luxartasia.com

The article reports that Sotheby’s Meiyingtang Collection of Chinese ceramics sold poorly, with only about 70 percent of lots sold and total auction receipts of $51.2 million, roughly half of the pre-sale estimate; two post-sales boosted the total to $88.4 million. It notes strong competition from J.T. Tai ceramics as a counterpoint and mentions reserve prices not met. A 18th-century Qing Dynasty vase and a blue and white Palace Bowl later sold post-sale for $25.6 million and $11.5 million respectively.

Stradivarius worth millions sold for 100 pounds in a café, London

vecernji.hr

The article reports that John Michael Maughan, aided by two teenage boys, stole a Stradivarius violin worth £1.2 million from Korean violinist Min-Jin Kym at a cafe near Euston station in London, and also stole a Peccatte bow (£62,000) and another bow (£5,000). During the trial, it was noted that the violin and bows were offered for £100 in a nearby internet cafe, and a £30,000 reward was issued for the instrument’s recovery.

Stradivari case: there’s a demand for payment from police by an undercover investigator

bild.de

The article reports that a V-Mann involved in recovering a stolen Stradivari violin seeks 150,000 euros in compensation, plus five percent of the violin’s value, from the police. The instrument had been stolen in 2008 near Hannover and recovered with the thieves detained; the undercover operative had already received 160,000 euros from the insurance.

Keine Belohnung für Stradivari: V-Mann scheitert mit Forderungen

n-tv.de

The article reports on a police V-man who helped recover a stolen Stradivari violin from Rittergut Bennigsen near Hanover and later sought a reward from the police. The Hanover Regional Court dismissed his claim, stating rewards require a concrete agreement. The instrument was insured for 1.5 million euros, and the man had previously received 160,000 euros from the insurer; no agreement existed for additional rewards.

Carleton and St. Olaf music faculty present afternoon concert of classical music

carleton.edu

Carleton College’s music faculty and St. Olaf College musicians will perform an afternoon program for strings and piano, featuring Franck’s Sonata in A and Beethoven’s String Quartet in F, Op. 135. Performers include Hector Valdivia (violin), Mary Horozaniecki (violin), Elizabeth Ericksen (viola) of Carleton, and David Carter (cello) and Kathryn Ananda-Owens (piano) of St. Olaf; the event is at Carleton Concert Hall at 3 p.m. on Sunday, April 10, and is free and open to the public.

Fine art

ARIA: Christie’s to sell newly discovered Rothko painting

vivrearia.blogspot.com

The page reports that Christie’s will auction a previously undocumented Mark Rothko painting, Untitled #17, at the Post-War and Contemporary Art Evening Sale in New York on May 11, with an estimate of $18,000,000–$20,000,000. The work, one of only 10 paintings to come to light since the 1998 Rothko catalogue raisonné, has been in private hands since 1965 and was acquired directly from Rothko by the present owner.

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