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March 2017 Market Intelligence

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Fine art

Art dealer Perry Rubenstein pleads no contest in Michael Ovitz theft case

news.artnet.com

Perry Rubenstein pleaded no contest to two felony counts of grand theft by embezzlement related to failing to pay clients including Michael Ovitz; Ovitz sought restitution and Rubenstein faces possible jail time and a restitution amount around $1.14 million with a likely payment of $167,500. The case involved stock or paintings by Takashi Murakami and Richard Prince, with works sold for Ovitz and for Salke, and disputes over commissions and foundation payments.

Proms musician pleads for return of 317-year-old Matteo Goffriller violin stolen from Gatwick Express

standard.co.uk

News page about Carol Slater, a Proms musician, pleading for the return of her 317-year-old Matteo Goffriller violin after it was stolen from a Gatwick Express train. The instrument, valued by a similar Goffriller auction at £180,000 in 2015, is one of fewer than 20 of the Italian maker's works remaining. Slater, who has performed at the Royal Albert Hall and Royal Festival Hall, received the instrument from her father and studied under Max Rostal; she lives in Belsize Park with her husband, violist Ian Jewel.

Fine art

press release: christie’s to offer picasso’s consummate portrait of dora maar in new york

press.christies.com

Christie’s press release discusses Picasso’s Femme assise, robe bleue, a portrait of Dora Maar that will be offered at the New York Impressionist and Modern Art Evening Sale with an estimate of $35,000,000–50,000,000. The painting, created on 25 October 1939, is described as a searing yet tender portrait reflecting the relationship between Picasso and Dora Maar.

Fine art

press release the collection of chauncey d. stillman

press.christies.com

The press release concerns the sale of the Collection of Chauncey D. Stillman, with proceeds benefiting the Wethersfield Foundation. The collection includes works by Nicolas Lancret, Jean-Auguste-Dominique Ingres, Edgar Degas, Henri de Toulouse-Lautrec, Mary Cassatt, John Singer Sargent, and Gilbert Charles Stuart, among others, and the sale is announced to occur across multiple spring sales including Old Masters, Impressionist & Modern Art, and American Art.

Fine art

Czy Cy Twombly po raz kolejny pobije swój sprzedażowy rekord?

rynekisztuka.pl

Czy Cy Twombly po raz kolejny pobije swój sprzedażowy rekord? opisuje planowaną na maj aukcję w Christie’s Nowy Jork, dotyczącą pracy Leda and the Swan z 1962 roku o estymacji do 55 milionów dolarów. Artykuł podaje także wcześniejszy rekord sprzedaży Twombly’ego oraz kontekst historyczny wyników artysty na rynku sztuki.

Fine art

Leda e il Cigno vista da Twombly all’asta

exibart.com

Cy Twombly’s Leda e il Cigno, a about two-metre canvas using oil, pencil and crayon, is heading to Christie’s New York sale of Postwar and Contemporary art on May 17. The work, created in 1962, is one of Twombly’s versions of the Leda and the Swan subject; a second version is in the MoMA permanent collection. Estimated at around 55 million dollars, it has had only two owners and was kept private for about 25 years.

Fine art

Stolen Van Gogh paintings back in Amsterdam after 14 years

reuters.com

Vincent van Gogh paintings View of the Sea at Scheveningen (1882) and Congregation Leave the Reformed Church in Nuenen (1884) were unveiled at the Van Gogh Museum in Amsterdam, 14 years after being stolen. Investigators valued the recovered works at 50 million euros ($53.97 million) and linked their recovery to Italian police discoveries; the pieces were found in a villa in Italy.

Fine art

David Rockefeller obituary: billionaire art patron dies at 101

news.artnet.com

David Rockefeller, billionaire banker, art collector and patron, died at 101 in Pacantico Hills, New York. He was a longtime MoMA chairman and Chase Manhattan Bank leader, with an art collection estimated at about 15,000 works and once valued at $500 million.

Fine art

Christie’s to test the art market’s peak with a $55 million Twombly canvas

news.artnet.com

Cy Twombly, Leda and the Swan (1962) is offered by Christie’s New York with a pre-sale estimate of up to $55 million. The canvas has never appeared at auction before and has changed hands only twice over about 25 years. Cy Twombly, Untitled (New York City) (1968) is cited as a high previous Twombly sale for context, with Sotheby’s handling that piece. The sale is part of Christie’s spring postwar and contemporary art auction.

Fine art

Cy Twombly’s Little-Seen Leda and the Swan could reach $55 M at Christie’s sale in May

artnews.com

Cy Twombly’s Leda and the Swan (1962) is being offered at Christie’s as a star lot with a low estimate of $35 million and a high estimate of $55 million. The work has a sister painting in the Museum of Modern Art and hasn’t been shown publicly for over 25 years. A few other works are also estimated in eight figures in Christie’s May evening sale, including Francis Bacon’s Three Studies for a Portrait of George Dyer, Andy Warhol’s Big Campbell’s Soup Can with Can Opener (Vegetable), and Roy Lichtenstein’s Red and White Brushstroke.

Stolen Stradivarius recovered and privately debuted by Mira Wang

symphony.org

Geoff Edgers notes in the Washington Post that Mira Wang reintroduced the Totenberg Ames Stradivarius, stolen after a 1980 concert and recovered with help from FBI agent Christopher McKeough; the instrument was publicly associated with Tat Mir a? (Mira Wang) during a private Manhattan club performance. The instrument’s owners include Nina, Jill and Amy Totenberg.

Hommage à Boulez CD review – fabulous and compelling bow to a modern master

theguardian.com

The Guardian review discusses the West-Eastern Divan Orchestra conducted by Daniel Barenboim in a Deutsche Grammophon release honoring Pierre Boulez. It notes the Boulez Saal in Berlin, the Boulez Ensemble, and highlights the first and second discs, including Dérive 2, Messagesquisses, Anthèmes 2, and Le Marteau Sans Maître with Hilary Summers as contralto soloist.

Stolen Stradivarius violin returns to the stage

bbc.co.uk

Mira Wang, a student of Roman Totenberg, played the Ames Stradivarius in New York more than 36 years after it was stolen from Totenberg in Massachusetts in 1980 and recovered in 2015. Totenberg died in 2012 at age 101, and his three daughters attended the private concert.

A stolen, then recovered, Stradivarius returns to the stage

wvtf.org

NPR reporter Nina Totenberg discusses the Stradivarius violin stolen 37 years ago from Roman Totenberg and recovered in 2015, now returning to the stage with Mira Wang in New York. The instrument, made by Antonio Stradivari in 1734, has a history with the Totenberg family and is undergoing restoration at Rare Violins of New York.

Masterpiece restored: Stolen Stradivarius will sing again

wjla.com

The Ames Stradivarius, a Stradivari violin stolen in 1980 and recovered in 2015, is set to return to the stage with violinist Mira Wang performing in New York on March 13. The instrument, one of about 550 Stradivari violins, was likely worth millions and has a restoration that took more than a year.

Fine art

Sotheby’s confirms a “bulletproof” art market with £118 million sold at London sale

news.artnet.com

Gerhard Richter’s Eisberg is noted among top results; the sale totaled £118 million ($143.5 million) for 57 lots with four unsold, marking several artist records. Jean-Michel Basquiat’s Untitled (One Eyed Man or Xerox Face) from 1982 was among the top lots carried a £14-18 million estimate and sold for £11.97 million ($14.6 million) after a single bid.

Fine art

German artists capture Zeitgeist at Sotheby’s contemporary sale

theartnewspaper.com

An article about Sotheby’s contemporary auction where Wolfgang Tillmans’s Freischwimmer 119 sold for £380,000 and Georg Baselitz’s Mit Roter Fahne sold for £6.5m, with additional context on German artists and market performance. The piece mentions Sigmar Polke, Gerhard Richter, Jörg Immendorff and Albert Oehlen as a notable group, and notes the sale achieved £100.7m (£118m with fees) and 70% higher than last year.

Fine art

Heirs of Jewish publisher team up with German museums to track down Nazi-looted art

theartnewspaper.com

The Mosse Art Restitution Project and the Mosse Art Research Initiative, funded by Rudolf Mosse’s heirs and the Lost Art Foundation, aim to recover thousands of works looted by the Nazis. Institutions involved include Berlin State Museums, Foundation of the Jewish Museum Berlin, Berlin State Archives, Prussian Cultural Heritage Foundation, and Free University of Berlin, led by Meike Hoffmann.

Fine art

Bank’s Kandinsky looted by Nazis

mondexcorp.com

Wassily Kandinsky’s painting The Colourful Life (Das Bunte Leben) is at the center of a legal dispute over Nazi-looted art. The heirs of Emanuel Lewenstein claim a 1940 sale of the painting by a German bank without the family’s permission, with an estimated value of £65m ($80m).

Fine art

Records tumble at Christie’s $117.1 million contemporary sale in London, led by Peter Doig

news.artnet.com

Peter Doig’s Cobourg 3 + 1 More (1994) led Christie’s London sale, which totaled £94.8 million ($117.1 million). The evening set new highs for Cecily Brown, Njideka Akunyili Crosby, Carol Rama, Henry Taylor, Wolfgang Tillmans, Neo Rauch, Jean Dubuffet, Albert Oehlen, and Günther Uecker, and a record for a joint work by Joan Miró and Josep Llorens.

Fine art

Results: Triumph for Diego Giacometti from the collection of Hubert de Givenchy

press.christies.com

Diego Giacometti artworks from Hubert de Givenchy’s collection performed strongly at Christie’s Paris sale on 6 March 2017, achieving €32,748,500/£28,157,160/$34,523,469 with 100% of lots sold above estimates. The top lot was Diego Giacometti’s octogonal table aux caryatides et atlantes, circa 1980, which sold for €4,162,500 setting a new auction record for the artist.

Fine art

Klimt’s luminous ‘Flower Garden’ sets record at $59.3 million

antiquesandthearts.com

Gustav Klimt’s Bauerngarten (Flower Garden), an oil on canvas painted in 1907, sold for $59,321,248 at Sotheby’s, setting a record for a landscape by Klimt. Pablo Picasso’s Plant De Tomates (1944) realized $21,063,935, also a top lot, with other notable sales including Amedeo Modigliani’s Portrait Of Baranowski at $19,811,878 and Gauguin’s Tahiti depiction at $10,351,888.

Fine art

Magritte painting breaks record at Christie’s Surrealist sale

theartnewspaper.com

René Magritte’s La Corde Sensible (1960) sold for £13.5m (£14.4m with fees), setting a new record for the artist at Christie’s Surrealist sale. Another Magritte work, Le domaine d’Arnheim (1938), fetched £9m (£10.2m with fees) above its upper estimate. The sale was led by Paul Gauguin’s Te Fare (La Maison) (1892) at £18m (£20.3m with fees), with overall strong sell-through and a high total for the two auctions.

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