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August 2014 Market Intelligence

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Fine art

Portugal will sell those 85 Joan Miró paintings after all

news.artnet.com

Joan Miró works from the Banco Português de Negócios collection, totaling 85 paintings, were approved by a Portuguese judge to be sold abroad, despite previous rulings that they'd be cultural heritage objects. The paintings, valued north of €36.4 million ($50.6 million), were originally set for Christie’s February sale but were pulled amid public outcry; later plans moved to Christie’s June sale in London before export was again blocked by a Lisbon judge. The Portuguese state, burdened by debt, hopes proceeds will bolster coffers.

Fine art

Norway museum returns Nazi-stolen Matisse painting to heirs

blog.chasenantiques.com

Henri Matisse Profil Bleu Devant la Cheminée (Woman in Blue in Front of a Fireplace) from 1937, once owned by Paul Rosenberg, was looted by the Nazis in 1941 and later returned to Rosenberg’s heirs after negotiations led by Christopher A. Marinello of Art Recovery Group; the painting is valued at about $20 million.

Fine art

Gauguin painting sells for record sum of almost $300 million

art-sheep.com

Paul Gauguin’s 1892 painting Nafea Faa Ipoipo (When Will You Marry?) was sold from a Swiss private collection for close to $300 million. The sale was reportedly to a Qatari buyer, with Rudolf Staechelin, who owns the work, declining to confirm the price. The painting has been on loan to the Kunstmuseum Basel for decades.

Fine art

Sale of Banksy’s ‘Mobile Lovers’ for 670,000 dollars saves youth club

news.artnet.com

Banksy’s Mobile Lovers (2014) was sold from Bristol’s Broad Plain Boys’ Club for £403,000 (roughly $670,000). The sale was brokered by MM Contemporary Arts; the buyer is a private philanthropist. The work was loaned to the Bristol Museum and Art Gallery display from April 14 to August 26, 2014, and the sale funds will support the youth club.

Vengerov granted permission to perform original Sibelius concerto

theviolinchannel.com

The Violin Channel reports that Maxim Vengerov is set to perform the original scoring of the Sibelius Violin Concerto with the Queensland Symphony Orchestra during its 2015 season, making him one of a handful of violinists granted permission to perform the work. The article notes the original version’s history, including revisions by Sibelius, a 1991 permission for a live performance and recording by Leonidas Kavakos, and mentions other related performances.

Fine art

Billionaire buys $1 million Picasso sketch at Leonardo DiCaprio gala

news.artnet.com

Patrice Motsepe, a South African mining billionaire, paid $1 million for a Pablo Picasso drawing at Leonardo DiCaprio's foundation gala in Saint-Tropez; the event also featured a Damien Hirst sculpture sold for $6 million to Len Blavatnik and other notable sales.

Fine art

Rauschenberg Foundation appeals $25 million payout to artist’s friends

news.artnet.com

The Robert Rauschenberg Foundation is appealing a Florida judge’s $24.6 million award to three friends of the artist who oversaw his estate. The foundation’s chairman, Christopher Rauschenberg, said the notice to appeal was filed on August 13, and emphasized advancing the foundation’s charitable mission.

Fine art

Miami artist who smashed Ai Weiwei vase pleads guilty

news.artnet.com

Benjamin Sutton reports that Maximo Caminero, the Miami artist who smashed Ai Weiwei’s vase at the Pérez Art Museum Miami, pleaded guilty to criminal mischief and will pay $10,000 in restitution. He will also receive 18 months of probation and complete 100 hours of community service. The vase was part of Ai Weiwei’s Colored Vases (2007–10) within the installation in the traveling retrospective According to What?

Vadim Repin performs Shostakovich Violin Concerto conductorless in a world premiere

theviolinchannel.com

The article reports Vadim Repin performing Shostakovich's First Violin Concerto in A minor without a conductor, with the Novosibirsk Academic Symphony Orchestra, described as the world’s first conductorless performance. The premiere took place during the Trans Siberian Arts Festival in Novosibirsk, recorded on April 14, 2014, and notes conductor Valery Gergiev’s last-minute cancellation.

14-year-old becomes a fourth-generation violin craftsman at Studio City Music – Daily News

dailynews.com

The article profiles 14-year-old Nathan Benning, who crafted a violin 14 months in the making and has become the fourth generation in the Benning family to build premium violins at Studio City Music in Studio City, California. It describes his family lineage of instrument makers, including his father Eric Benning and grandfather Hans Benning, and notes the family's long history dating back to 1901 with Carl Becker Sr. and Paul Toenniges.

Fine art

Sotheby’s sales jump 24 percent in first half of 2014

news.artnet.com

Sotheby’s reported a 24 percent increase in net auction sales to $2.7 billion for the first half of 2014, led by Hong Kong and London, with an 18 percent rise in auction commission revenues to $403 million. The top lot was Claude Monet’s Nympheas (1906) sold in London for £31.7 million ($54 million), followed by Francis Bacon’s Three Studies for Portrait of George Dyer (1964) at £26.7 million ($45.4 million); the Meiyintang Chicken Cup sold for $36.3 million in Hong Kong.

Fine art

France’s Supreme Court rejects Austrian restitution claim

news.artnet.com

Adriaen van Ostade, Francisco Goya, and Honoré Daumier drawings were involved in a restitution dispute over artworks seized by the American army in Austria at the end of World War II. France’s Conseil d’État ruled that the foreign affairs ministry was correct to deny the restitution claim, noting the artworks’ status as Guardian objects under Musées Nationaux Récupération and their accessibility requirements. The case, pursued by two Austrian collectors’ heirs, ended with a final verdict supporting the rejection of the claim.

Fine art

€200,000 Carlos Cruz-Diez sculpture dumped

news.artnet.com

€200,000 is stated as the approximate value of Carlos Cruz-Diez's Colonne Chromointerférente, a six meter high work from 1972, which was scrapped by local authorities in La Roche-sur-Yon. The piece was attributed to Carlos Cruz-Diez, and the value was cited as being around €200,000 ($295,279).

Fine art

Joburg sisters win battle for looted Nazi artwork

timeslive.co.za

Two Johannesburg sisters are heirs to a valuable art collection and will receive a R49-million painting believed to be by Vincent van Gogh from the National Gallery of Victoria in Melbourne; the work, titled Head of a Man (1886), was part of a Nazi-era forced sale linked to Richard Semmel, and the gallery agreed to restitute it following a December claim by the sisters’ Zurich-based lawyer Olaf Ossmann.

Fine art

Charles M. Russell’s artwork sells for millions at Reno auction

washingtonpost.com

Charles M. Russell’s artwork sells for millions at Reno auction. The article reports that 30 Russell works sold for millions at the Coeur d’Alene Art Auction in Reno, including a painting about the railroad’s impact on American Indians that brought in $1.9 million and another depicting a Native American chief that brought in $1.1 million. Other top prices included a Frederic Remington painting of a group of Indians for $1.7 million and a Thomas Moran painting of an Arizona gulch for $1.5 million.

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