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December 2014 Market Intelligence

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Fine art

LAPD gets break in one of biggest art heists at $12M

cnn.com

The CNN article reports that 12 paintings stolen in an Los Angeles home burglary were recovered, including works by Marc Chagall and Diego Rivera, with a total value around $12 million; the investigation involved the FBI and LAPD, and a reward was offered.

Fine art

The Miami Market Report a sales recap

vulture.com

The Miami Market Report a sales recap discusses how art dealers fared at Art Basel Miami Beach, noting celebrities shopping for art and strong sales of works on paper. It mentions a Frank Stella painting bought for just under $1 million, a Pablo Picasso fresco reportedly sold for around $1 million, and sales of Christopher Wool and Sigmar Polke works on paper for $1.5 million and $1 million respectively.

Fine art

Secret $100 million Cézanne sale in Detroit

news.artnet.com

Paul Cézanne La Montagne Sainte-Victoire vue du bosquet du Château Noir (1904) reportedly sold for $100 million; the buyer was an anonymous private collector believed to be Qatar, per Artnet News. The sale was through the Edsel & Eleanor Ford House in Grosse Pointe Shores, Michigan, and proceeds were designated to create an endowment for preservation and restoration of the Ford House collection.

Fine art

Ford House sells Cézanne painting for $100 million

detroitnews.com

Paul Cézanne, La Montagne Sainte-Victoire vue du bosquet du Château Noir, sold for $100 million to a private buyer. The Ford House says the sale was kept quiet to avoid issues with the Detroit Institute of Arts during bankruptcy proceedings. The painting was bought by Edsel and Eleanor Ford, who originally paid $242,000.

Fine art

Secret $100 million Cézanne sale in Detroit, artnet News

web.archive.org

Paul Cézanne's La Montagne Sainte-Victoire vue du bosquet du Château Noir (1904) sold for $100 million, as reported in artnet News by Sarah Cascone on December 19, 2014. The sale was tied to the Edsel & Eleanor Ford House in Michigan, and details were reported in the Detroit Free Press during Detroit's bankruptcy context.

Fine art

LAPD recovers nine stolen artworks worth millions

news.artnet.com

Coline Milliard reports that the Los Angeles Police Department and the FBI recovered nine paintings worth about $10 million that were stolen from a collector’s Encino home in 2008. The paintings, which include works by Chaïm Soutine, Emil Nolde, Marc Chagall, and Diego Rivera, were being sold after an undercover sting in West Los Angeles in which a man identified as Raul Espinoza was arrested and charged with receiving stolen property.

Prized viola found smashed after being stolen from Philadelphia musician

6abc.com

The prized viola stolen from Philadelphia musician Nancy Drye was found smashed in a vacant lot on Haverford Avenue in West Philadelphia. The instrument, possibly made in Paris in 1790 and last appraised in 2008 for $9,000, belonged to Drye, who plays in the University of Pennsylvania Orchestra, and she describes it as an irreplaceable family member.

Fine art

Cézanne painting will come to market for the first time since 1936

artnews.com

Paul Cézanne, Vue sur L’Estaque et Le Château d’If, 1883-85, will be sold at Christie’s London in the Impressionist and modern evening sale on February 4. The work previously belonged to Samuel Courtauld and was purchased in 1936, after which it remained in his private collection; the painting carries an estimate of £8 million to £12 million ($12.5 million to $18.7 million).

Fine art

Rothko Revisited

artatlaw.com

Rothko Revisited discusses a claim by Dallas art collector Marguerite Hoffman against L&M Arts, Studio Capital, and David Martinez over a confidential sales contract for a 1961 Mark Rothko painting titled Untitled. The case centers on a confidentiality clause and Hoffman’s loss of potential auction proceeds, with the painting later selling at Sotheby’s for $31,442,500 in 2010 and Hoffman receiving $1.2 million in damages. The defendants moved for judgment as a matter of law after the jury verdict.

Museo del Violino arrival from Moscow three musical masterpieces

cremonaoggi.it

The event announces three musical masterpieces arriving from the Glinka National Museum Consortium of Musical Culture in Moscow to Cremona: a rare 1715 Stradivari viola, a 1742 Guarneri del Gesù violin, and a 1611 Amati brothers viola da gamba. They will be exhibited from December 18 after a preview on December 17 in Cremona, with comments from local officials and experts including Paolo Bodini and Bruno Giuranna.

From the Maine Sunday Telegram: in Ned Steinberger’s studio, the violin gets an electric makeover

thinkns.com

The article discusses Ned Steinberger, known for designing electric guitars for Sting, Peter Gabriel, and Eddie Van Halen, and now electric violins, a viola, and a cello. It notes the DaPonte String Quartet incorporating Steinberger’s electric instruments into performances and mentions holiday concert venues in Winter Harbor, Boothbay Harbor, and Newcastle.

Fine art

Italian retiree gets to keep stolen Gauguin painting

news.artnet.com

The Italian retiree Nicolo, a Fiat factory worker, purchased Paul Gauguin’s Fruits sur une table ou nature au petit chien (1889) and Bonnard’s La femme aux deux fauteuils, which were stolen in 1970. He has been awarded ownership of the paintings, which are valued at about €35 million ($43.5 million) and €600,000 ($747,000) respectively, after authorities confirmed their possession by him and efforts to return them to the rightful owner.

Stolen viola alert in Philadelphia involving a Giovanni Grancino instrument

theviolinchannel.com

The Violin Channel reports a stolen viola, labeled Giovanni Grancino, Milan, 1696, taken from a Philadelphia home on Hamilton Street, Powelton. The instrument was made in Paris in 1790 and bore the label Giovanni Grancino, Milan, 1696; three laptops were also stolen. The owner has possession of the viola since 1978 and the instrument case was found discarded the next day.

Fine art

Abbott-Guggenheim: a New York kunstkammer, collection of Renaissance and Baroque sculptures, clocks and works of art

press.christies.com

Christie’s press release discusses the Abbott-Guggenheim Collection, a Renaissance and Baroque sculpture, clocks and works of art collection to be sold during Christie’s Old Masters Week in January 2015. The collection was built by Dr. Peter Guggenheim and Dr. John Abbott, with provenance linking to institutions and notable collectors; approximately 120 lots are expected to exceed $11 million.

Airline bans youth orchestra from boarding plane over violin dispute

classicfm.com

The story concerns the LGT Young Soloists, led by artistic director Alexander Gilman, who were denied boarding by Singapore Airlines over the checking of Stradivarius violins; Lufthansa later transported the group back to Zurich. Singapore Airlines issued a statement about an internal review of the incident at Hong Kong airport on December 6.

Pekka Kuusisto considers the possibility of buying a violin and selling his home, if needed

suomenkuvalehti.fi

The article discusses Pekka Kuusisto, an internationally successful Finnish classical musician, and his access to a unique Cremonese violin made by Guarneri del Gesù, a violin believed to be about 100+ years missing. It mentions a secret audition in Helsinki’s Musiikkitalo and comparisons with other high-profile instruments such as Elina Vähälä’s Amati, Jukka-Pekka Saraste’s Napolitan Ferdinand Gagliano, Jaakko Kuusisto’s Venetians Goffriller, and Kuusisto’s own Guadagnini.

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