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July 2015 Market Intelligence

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My violin and The Man from UNCLE

slippedisc.com

The article discusses Jeremy Constant, concertmaster at Marin Symphony and assistant concertmaster at San Francisco Symphony, and his 1850 J. B. Vuillaume del Gesu violin (numbered 1801) which has historical connections to David McCallum (the actor from The Man from U.N.C.L.E.), Sir Neville Marriner, and Beatles sessions including A Day in the Life, Yesterday, and Eleanor Rigby. It recounts attempts to contact David McCallum junior and the eventual correspondence with McCallum senior via his son, including a visit to discuss the violin’s history.

Fine art

Romance novelist Danielle Steel’s art collection is heading to auction

news.artnet.com

Danielle Steel’s Stinson Collection, featuring paintings, sculptures and multimedia works by artists including John Beech, Kati Casida, Peter Forakis, Tom McKinley, Doug Owen and Julie Speidel, is heading to auction at Clars Auction Gallery on July 25–26. The collection is valued at over $100,000 according to Clars, and the sale also includes antique dolls from Lee and Richard Trotter, jewelry, watches, decorative arts, furnishings and several works of Asian art.

Fine art

National Bank of Hungary buys Titian painting for 4.5 billion forints

dailynewshungary.com

The National Bank of Hungary purchased a Titian painting for 4.5 billion forints (EUR 14.5m) through its art acquisition programme. The work, titled Mary with Child and St. Paul, was previously in a private home in Pecs and later lent to the Hungarian Museum of Fine Arts.

Fine art

German artists threaten to flog off their work in protest at national treasure law

independent.co.uk

Georg Baselitz and Gerhard Richter are cited in The Independent as protesting plans by Germany to designate national treasures and restrict sales abroad. Richter is quoted saying he would flog off his pictures, as the proposal would affect paintings over 50 years old worth over €150,000 and require regional approval to be sold abroad.

Fine art

The sordid Nazi history behind this famous Klimt painting

jta.org

Maria Altmann’s story involves stolen art and Nazi-era expropriation. Gustav Klimt’s portraits of Adele Bloch-Bauer were central to the tale, which was later dramatized in the film Woman in Gold and connected to legal restitution leading to the paintings being returned to Altmann’s estate. The Klimt portrait of Maria’s aunt remains on display at the Neue Galerie in New York.

Destination Lockenhaus: mecca for lesser-known musical gems

bachtrack.com

The Bachtrack review covers a performance at Kirche, Lockenhaus, on 9 July 2015 featuring Cristina Barbuti (piano), Alexander Lonquich (piano), Vilde Frang (violin), Nicolas Altstaedt (cello), Latica Honda-Rosenberg (violin), Christoph Koncz (violin), Eszter Osztrosits (violin), Pablo Hernán Benedí (violin), James Boyd (viola), Lily Francis (viola), Sebastian Klinger (cello). The programme included Killmayer Paradise for two pianos, Dvořák Piano Trio no. 3 in F minor, Op. 65, and Enescu String Octet in C major, Op. 7.

Fine art

Dealer Julian Agnew compares seeking Nazi loot restitution to ambulance chasing

news.artnet.com

Julian Agnew, a London Old Masters dealer and former owner of Agnew’s gallery, compared the pursuit of Nazi-looted artworks restitution to ambulance chasing in a letter to the Financial Times. The article discusses restitution cases, researchers and lawyers taking a percentage of sale proceeds, and mentions Gustav Klimt’s Portrait of Adele Bloch-Bauer I (1907) and Max Liebermann’s Two Riders on a Beach (1901) as points of context.

Fine art

Court freezes assets of dealer Timothy Sammons accused of swindling millions from collectors

news.artnet.com

Vincent van Gogh, Canaletto, Pablo Picasso, Marc Chagall, Henry Moore, Amedeo Modigliani, and René Magritte are named as artists involved in lawsuits against dealer Timothy Sammons. The article notes that the UK High Court froze up to £7 million ($10.7 million) of Sammons’s assets, confiscated his passport, and limited his weekly allowance to £750 ($1,500). It references Sammons’s past role at Sotheby’s Chinese art in New York and his London residence, and compares him to Larry Salander in behavior and legal trouble.

Fine art

Ashmolean Museum saves Turner painting

news.artnet.com

J.M.W. Turner The High Street, Oxford (1810) by J.M.W. Turner was saved for the Ashmolean Museum with public donations totaling £60,000 ($90,000). The painting, on long-term loan since 1997, faced potential private sale to cover the inheritance tax shortfall of £860,000 ($1.3 million) after Heritage Lottery Fund contributed £550,000 ($840,000), Art Fund £220,000 ($330,000), and Friends and Patrons £30,000 ($46,000).

Fine art

NZ art collector sues London dealer for 16 million

nzherald.co.nz

The article discusses Auckland interior designer and art collector Stephanie Overton suing London dealer Timothy Sammons for NZ$16.5 million after allegedly selling her paintings to New York dealers and not forwarding the proceeds. It notes Sammons’ past roles at Sotheby’s and his Mayfair-based fine art business, and mentions a separate High Court case involving the WH Smith family trust seeking £1.6 million related to a Canaletto sale.

Fine art

Record price for controversial MONA artwork at London auction

abc.net.au

The Holy Virgin Mary by Chris Ofili sold for 2.9 million pounds ($4.8 million) at Christie's in London, setting a record for the artist. Other MONA works sold included Damien Hirst's Beautiful Mis-shapen Purity Clashing Excitedly Outwards Painting for 542,500 pounds, Jake and Dinos Chapman’s Great Deeds Against the Dead for 422,500 pounds, and Jenny Saville’s Matrix for 782,500 pounds.

Fine art

Gauguin painting Nafea faa ipoipo goes on display in Madrid

reuters.com

Gauguin's Tahitian painting Nafea faa ipoipo (When Will You Marry?) is on display at Madrid's Reina Sofia Museum after being sold earlier this year. The work, painted in 1892, was reportedly bought for around $300 million by a Qatari buyer and is now on loan for an exhibition running until mid-September.

Fine art

Richard Prince to create 20 new works for Beirut retail magnate Tony Salamé

news.artnet.com

Richard Prince created 20 new artworks for Tony Salamé, founder of Aïshti. The Beirut-based retail magnate is investing in a 40,000 square-foot, David Adjaye-designed contemporary art space in Jal El Dib and Salamé’s collection includes works by Wade Guyton, Danh Vo, Franz West, Carol Bove, Gerhard Richter, and Christopher Wool. The exhibition space and museum plans are connected to the Aïshti Foundation and its inaugural exhibitions.

Fine art

Big Bacon fails to get a bid as Sotheby’s £142–202 million London contemporary sale misses target

news.artnet.com

The Sotheby’s London contemporary sale, estimated at £142–£202 million, concluded at £130.4 million ($204.7 million) with four top lots unsold. Francis Bacon’s Study for a Pope I failed to sell, while two other Bacon pieces from Jacques Casier’s heirs sold within or above estimates. A notable subset of the sale consisted of eight paintings of dollar signs and bills by Warhol, Haring and others, led by Warhol’s One Dollar Bill (Silver Certificate) which sold for £20.9 million.

Fine art

Warhols One Dollar Bill fetches £20.9m on record night for Sotheby’s

theguardian.com

Andy Warhol, Lucien Freud and Gerhard Richter artworks led Sotheby’s to a record contemporary art sale in London, with Warhol’s One Dollar Bill (Silver Certificate) selling for £20.9 million and a pair of Francis Bacon self-portraits fetching £30 million combined; the auction total was £130.4 million.

The Japanese disaster forced to sell a Stradivarius

bashny.net

The Nippon Foundation auctioned the Stradivarius violin Lady Blunt, made in 1721, in an effort to raise funds for earthquake and tsunami victims. The instrument is valued at about $10 million and is one of two highly preserved Italian master violins, with the other being the Messiah in Oxford’s Ashmolean Museum; the auction was planned for June 20 on Tarisio’s website.

Fine art

Record price for Julian Opie in fundraising auction for Ikon Gallery

theartnewspaper.com

Julian Opie’s Red Socks and Chanel Bag (2015) sold for £93,750 at Sotheby’s London in a fundraising sale for Ikon Gallery in Birmingham, setting a record price for the artist at auction. The sale, part of Sotheby’s Contemporary Art Day, raised more than £785,000 for Ikon’s 50th anniversary endowment fund. Other top lots included Hurvin Anderson’s Cypress Hill (2015) and Beatriz Milhazes’s O Hippie (2014).

Fine art

Museums respond to Biting report on Nazi-looted art

observer.com

The World Jewish Restitution Organization published a report criticizing U.S. museums for using the legal system to dismiss restitution cases involving Nazi-era looted art. The Toledo Museum of Art and the Detroit Institute of Arts issued statements in response. The cases center on artworks including Paul Gauguin’s Street Scene in Tahiti (1891) and Vincent van Gogh’s Les Becheurs (The Diggers). Provenance research conducted over 18 months led by Laurie Stein supported the museums’ view that the owner sold the paintings fairly and did not pursue restitution.

Fine art

Records fall for Ofili, Quaytman, Morley, more at £95.6 million at Christie’s London Contemporary Sale

artnews.com

The article covers Christie’s London postwar and contemporary sale where six artists set new records and the sale total reached £95.6 million ($150.1 million). Highlights include Chris Ofili’s The Holy Virgin Mary setting a new artist record and Francis Bacon’s Study for Head of Isabel Rawsthorne and George Dyer as the top lot selling for £12.2 million, with notable results for R.H. Quaytman and Malcolm Morley.

Fine art

Richter flops at Christie’s jittery £95.6 million London contemporary sale

news.artnet.com

Gerhard Richter paintings were among the unsold works at Christie’s London contemporary sale, part of a £95.6 million (about $150.1 million) total. Francis Bacon and Yves Klein were among the top lot performers, with Klein’s FC27 fire painting selling for £5.9 million; Bacon’s heads diptych sold within estimate for £12.2 million, and his large Two men working in a field sold for £10.7 million. The sale saw six artist records, a high number of lots sold under estimate, and mixed results across artists such as Richter, Polke, and Chapman.

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