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March 2007 fine-art market intelligence

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Fine art

Tate raises money to keep Turner watercolor in UK

artforum.com

The Tate gallery in London raised £4.95 million ($9.7 million) to keep J.M.W. Turner’s The Blue Rigi, 1841, in the UK after it was sold to an anonymous foreign bidder for £5.8 million ($11.4 million). The sale was temporarily suspended by the British government to allow the fund-raising effort, which raised about 70 percent of the total in five weeks, according to David Barrie of the Art Fund.

Fine art

Selling art, reaping resentment

inquirer.com

The article discusses the Eakins affair and deaccessioning, examining the controversy surrounding selling art from institutions such as Thomas Jefferson University, the Pennsylvania Academy of the Fine Arts, and Fisk University to raise funds; it mentions The Gross Clinic, The Cello Player, and paintings by Georgia O'Keeffe and Marsden Hartley.

Fine art

Herzog Waterscape stars at Lively Skinner sale

artnews.com

Herzog Waterscape stars at Skinner sale; Herman Herzog’s Florida waterway painting Near the Outlet of Wassalassa River sold for 127,000 and Abram Arkhipov’s Girl from Ryazon 116,000, Lionel Walden’s Breaking Waves 73,438, and Rodolfo Morales untitled painting 52,875. Andy Warhol Queen Elizabeth II lithograph sold for 41,125; Jane Peterson Harbor View and Zinnias and Lilies sold for 25,850 and 27,025, and Xavier Bueno works 32,900 and 37,600. Other notable results include Gustave Baumann woodcut Cotton Wood Tussels at 16,450 and George Loring Brown View of the Italian Coast at 14,000; some pieces fell under estimates (Emile Albert Gruppe, Alfred Thompson Bricher, Laura Coombs Hills), while Florida and Hawaiian subjects were highlighted as hot by Robin Starr.

Fine art

Bidders overflow Swann’s first African-American art auction

artnews.com

Jacob Lawrence’s portfolio The Legend of John Brown, 1977 sold for 156,000 and Elizabeth Catlett’s Nude Torso, 1976 sold for 120,000; Kara Walker’s Kneeling Silhouette, 1995 sold for 43,200; Hale Aspacio Woodruff’s Totem, circa 1950-54 sold for 96,000; Norman Lewis’s Street Music, 1950 sold for 67,200; Beauford Delaney’s Untitled (Portrait of a Young Black Woman), circa 1950 sold for 28,800.

Fine art

Raymond D. Nasher, 85, Dallas art collector who built a museum, dies

nytimes.com

Raymond D. Nasher, a real-estate developer and banker, and his wife Patsy built a major collection of Modern and contemporary sculpture and established a public museum in Dallas, dying at age 85 in Dallas. The article notes his early life, education at Duke, and key acquisitions by the Nasher collection, including works by Matisse and others.

Fine art

Stolen Artworks and the Lawyers Who Reclaim Them

nytimes.com

Carol Kino reports on restitution of looted antiquities and Nazi-era art, highlighting lawyers Lawrence M. Kaye and Howard N. Spiegler of Herrick, Feinstein who helped recovered works for heirs, including Klimt paintings, the Goudstikker case, the Lydian Hoard, and the Schultz prosecution; the article discusses the growing role of cultural property law.

Fine art

Seattle Art Museum receives more than $1 billion in art gifts

archive.seattletimes.com

The Seattle Times reports that the Seattle Art Museum (SAM) has received gifts totaling more than $1 billion in art, donated by numerous collectors including Richard and Elizabeth Hedreen who gave Bartolom Esteban Murillo's Saint Augustine in Ecstasy. The gifts encompass works by Brancusi, Georgia O'Keeffe, Mark Rothko, Morris Graves and others, with about 200 pieces going on display in SAM's new downtown expansion. The Wright collection of postwar and contemporary art from Virginia and Bagley Wright is highlighted as a major longtime promised gift to SAM.

Fine Art

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