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June 2015 Market Intelligence

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Fine art

Ai Weiwei record at 5.4 million keeps Phillips 28.6 million contemporary sale on track

news.artnet.com

Ai Weiwei Circle of Animals / Zodiac Heads (2010) sold for £3.4 million (£5.4 million including premium) at Phillips' London sale, which helped Phillips reach £18.2 million ($28.6 million) and set top prices for Ai Weiwei. Other notable results included Harold Ancart, Robert Gober, Sherrie Levine, Carroll Dunham, Bruce Nauman, Sigmar Polke, and Jonas Wood, with Dunham and Polke among the highlighted works.

Fine art

$39 million Klimt leads Sotheby’s £280 million London Impressionist and Modern sale

news.artnet.com

Gustav Klimt's 1902 portrait Gertrud Loew led Sotheby’s London Impressionist and Modern sale, selling for £24.8 million or $39 million after premium. The sale realized £178.6 million or $282 million, within the pre-sale estimate, and was just behind the previous record £186.5 million for the same auction in February. Other notable restituted works included Max Liebermann’s Two riders on the beach and Kazimir Malevich’s Suprematism, 18th Construction (1915).

Fine art

British art dealer discovers unknown Monet pastel taped to another work

theguardian.com

The Guardian reports that Jonathan Green of the Richard Green Gallery discovered an unknown third Monet pastel taped behind two other pastels bought at a Paris auction in 2014. The hidden work depicts the jetty and lighthouse at Le Havre, and the pieces have a provenance linking to Monet and to Paul Durand-Ruel.

Fine art

Christie’s Impressionist and Modern sale reaches $113 million, despite the odds

news.artnet.com

Pablo Picasso’s Tête (1969) and Claude Monet’s Iris mauves (1914–17) are among the top lots in Christie’s Impressionist and Modern Art Sale in London, which achieved a mid-estimate of £71.5 million ($112.9 million) across 42 of 50 lots. The Monet sold for £10.8 million ($17.1 million) to an American phone bidder; Picasso’s Tete (1969) sold for £4.45 million ($7 million).

Fine art

UK moves to block export of Cézanne painting after £13.5 million sale

news.artnet.com

Paul Cézanne, Vue sur L’Estaque et Le Château d’If (1883–85), sold for £13.5 million ($20.5 million) at Christie’s London; UK culture minister Ed Vaizey imposed a temporary export bar with a deadline to match the price. The work is in the Fitzwilliam Museum collection, and its export license will be reviewed at year end.

Fine art

Bad Banker’s Basquiat smuggled with shipping invoice for $100 returns home

news.artnet.com

The article reports the repatriation of Basquiat’s Hannibal (1981) and a Roman togatus statue to Brazil. The works were tied to Brazilian financier Edemar Cid Ferreira, who was convicted of crimes related to Banco Santos. The Basquiat is valued at about $8 million, while the statue is appraised at $100,000; both were smuggled into the United States and forfeited by the government.

Fine art

ICE repatriates famous artwork stolen from Brazil

ice.gov

The painting by Jean-Michel Basquiat, titled Hannibal or The Basquiat, and a Roman Togatus statue were repatriated to Brazil after being smuggled into the United States and forfeited to the government. The repatriation ceremony took place in New York City and involved ICE HSI, the U.S. Department of State, and the U.S. Embassy in Brazil.

Il più antico violoncello del mondo esposto al Metropolitan Museum di New York

ageofaudio.com

The article discusses the oldest cello in the world, attributed to Italian luthier Andrea Amati (1570), associated with the Cremonese school, and housed at the Metropolitan Museum of Art. It mentions the instrument nicknamed “King,” its royal commissions for the French court of Charles IX, and details of its provenance from the Hottinger collection to Wurlitzer and to Cremona tourism authorities in 1966. It also notes modifications in 1801 by Sebastian Renault and references figures such as Nicolò Amati, Antonio Stradivari, and the Medici heraldry on the instrument.

Music stores work leads to arrest in violin thefts

augustachronicle.com

The article reports that stolen oboes, trumpets, and hand-crafted violins valued at over $100,000 were recovered due to collaboration between music shop employees in Georgia and North Carolina. Leslie Edwards Fields and Gary Donald Crouse were arrested on theft by receiving stolen property charges after suspicious activity at Atlanta-area shops and follow-up investigations by Atlanta Violin and police in Roswell.

Fine art

California federal judge rules against Jewish family over Nazi-seized artwork

ibtimes.co.uk

California federal judge John Walter ruled that the Spanish Thyssen-Bornemisza Museum in Madrid owns Camille Pissarro's 1897 Rue Saint-Honoré, Après-midi, Effet de Pluie under Spanish law, dismissing a 2005 lawsuit by Lilly Cassirer's great-grandchildren to reclaim the work. The court suggested a fair response to Nazi victims, and the Cassirers plan to appeal to the 9th Circuit. The painting, seized by Nazis from Lilly Cassirer in 1939, had a restitution history and later passed through multiple owners before residing in the museum.

Fine art

Court denies claim of heirs to Nazi-looted Pissarro painting

news.artnet.com

A Camille Pissarro painting seized from Lilly Cassirer in 1939 was ruled by Judge John F. Walter to remain in the Thyssen-Bornemisza Museum in Madrid under Spanish law, rather than be returned to Cassirer's heirs. The article notes the museum’s potential concession and cites the Washington Conference Principles and the Terezin Declaration, with statements from Evelio Acevedo Carrero and references to Cassirer’s wartime restitution efforts.

World’s oldest cello goes on show in New York

slippedisc.com

The Amati “King” cello, the earliest surviving bass instrument of the violin family, will be on view at The Metropolitan Museum of Art starting June 11, 2015, on special loan from the National Music Museum in Vermillion, South Dakota. The installation highlights Andrea Amati and his workshop, with related instruments by Amati’s heirs and by Guarneri and Stradivari.

Fine art

Billionaire Steve Cohen goes on a $240 million Giacometti buying spree

news.artnet.com

Steve Cohen is identified as the buyer of Alberto Giacometti’s Pointing Man (1947), which sold for $141.3 million at Christie’s. The article notes Cohen’s prior Giacometti purchase, Chariot (1950), for just under $100 million at Sotheby’s, and mentions Greenwich, Connecticut as his residence.

Fine art

Australian tycoon Alan Bond, who bought Vincent van Gogh’s Irises for record $54 million in 1987, is dead at 77

news.artnet.com

Alan Bond, the Australian ex-billionaire who once owned Vincent van Gogh’s Irises (1889), died at 77 after heart surgery. Bond bought Irises at Sotheby’s New York in 1987 for $53.9 million, a record at the time, and later sold it to the Getty Museum in 1990; the sale and financing arrangements surrounding the painting were controversial.

Fine art

Steven A. Cohen revealed as buyer of $141.3 million Giacometti sculpture

artnews.com

Steven A. Cohen purchased Alberto Giacometti's L’Homme au doigt (1947) for $141.3 million at Christie’s, setting a record for the most expensive sculpture sold at auction. The work, also known as Pointing Man, was part of Christie’s May 12 sale Looking Forward to the Past. Other noted prices in the sale included Picasso’s Les Femmes d’Algers (Version “O”) at $179.3 million.

The musical instruments prepared by international masters centuries ago are in Armenia

1lurer.am

The article reports that violins by eight world-famous masters from the 17th to 19th centuries, including Stradivarius, were brought to Yerevan and displayed at the Aram Khachaturian House Museum. A prize winner of a competition related to Aram Khachaturian will be allowed to play on a violin made by a French master 120 years ago for a year to develop his talent.

Fine art

Crystal Bridges Museum acquires Louise Bourgeois works

antiquesandthearts.com

The article reports that Crystal Bridges Museum of American Art in Bentonville, Arkansas has acquired two sculptures and two paintings by Louise Bourgeois (1911–2010): Maman (1999), Quarantania (1947–1953, with a 1990 cast), Connecticutiana (1944–1945), and an untitled oil on canvas from 1947. Rod Bigelow, Crystal Bridges executive director, comments on Bourgeois's influence on American narrative and feminist art, noting the addition of both sculptures and paintings for visitors to experience in two and three dimensions.

Fine art

Gauguin painting’s price tag may have been confirmed

theartnewspaper.com

Gauguin’s Nafea Faa Ipoipo (When will you Marry, 1892) is discussed in connection with a reported $300m sale to the Qatar Museums Authority, with Reina Sofia press release cited and subsequent clarifications. The article compares it to Gauguin’s Te Poipoi (The Morning, 1892) and notes related loan and exhibition details.

Fine art

Iconic Young British Artist Works From MONA Tasmania London 2015 press release

press.christies.com

This Christie’s press release covers iconic Young British Artist works from MONA, Hobart, including Chris Ofili, Jake and Dinos Chapman, Jenny Saville and Damien Hirst, to be featured in the Post-War and Contemporary Art Evening Auction on 30 June 2015 in London, with viewings commencing 26 June 2015. The release references The Holy Virgin Mary (1996) by Chris Ofili as a leading work.

Fine art

Gambling millionaire bets on YBA works

theartnewspaper.com

David Walsh, a gambling millionaire, is selling four key YBA works in London’s contemporary auctions: Great Deeds Against the Dead by Jake and Dinos Chapman, The Holy Virgin Mary by Chris Ofili, Beautiful mis-shapen purity clashing excitedly outwards painting by Damien Hirst, and Matrix by Jenny Saville. The items are expected to fetch £400,000–£600,000, around £1.5 million, £500,000–£700,000, and £800,000–£1.2 million respectively, with auction at Christie’s in London on 30 June 2015.

Fine art

Outrage in Ireland over sale of Old Masters, including two paintings by Rubens

news.artnet.com

The article reports that Russborough House foundation plans to consign nine artworks, including two Rubens paintings, to Christie’s London. The highlighted works include Rubens’ Head of a Bearded Man and Venus Supplicating Jupiter, with presale estimates totaling about $12.5 million. The sale is criticized by Irish heritage groups and politicians, who argue for government intervention or other options.

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