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October 2011 fine-art market intelligence

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Fine art

Marathon art sale raises record $94.8 million, triple estimate

huffpost.com

The article reports that Sotheby’s marathon Chinese fine-painting sale in Hong Kong drew intense bidding, selling for HK$738.3 million ($94.8 million) including fees, well above its HK$200 million hammer-price presale estimate. The piece notes this was the highest result for Sotheby’s in this category and references a Bloomberg report.

Fine art

$9 million new Jackson Hole art auction record

thewesternartdealer.blogspot.com

Frederic Remington's painting "He Lay Where He Had Been Jerked, Still as a Log" sold for $1,583,000; Bob Kuhn's "Study of a Cougar" sold for $90,000; John Clymer's "Marie Dorian-Winter Refuge, 1814" sold for $391,000; Charlie Dye's "Texas Brush Popper" sold for $74,750; Clark Huling's "Grand Canyon" sold for $345,000; Richard Schmid's "The Last Lilies" sold for $69,000; O.C. Seltzer's "Charles Russell with Horse" sold for $74,750 and a drawing titled "Riders on the Mountain Trail" sold for $43,125.

Fine art

Claude-Joseph Vernet landscapes reunited in US

bbc.com

Claude-Joseph Vernet landscapes, A Grand View of the Sea Shore and A Mountain Landscape with an Approaching Storm, were reunited at the Dallas Museum of Art after being separated since 1806; the reunion was helped by a loan of the seaport painting from David H Koch.

Fine art

Amon Carter acquires Mary Cassatt painting

dallasnews.com

The Amon Carter Museum of American Art has acquired a Mary Cassatt painting titled Woman Standing, Holding a Fan, dating from 1878-79. The work is noted as one of Cassatt’s two canvases painted almost entirely in distemper, and it was created during a period of collaboration with Edgar Degas. The museum did not disclose the price, but experts value it between $3 million and $6 million; the painting is on display in the second-floor paintings and sculpture galleries.

Fine art

Iconic 'Proust's Armchair' sells for world record price of £46,850

paulfrasercollectibles.com

Aleksandro Mendini's Proust's Armchair, designed in 1978 and executed in 1981, sold at Bohmans Contemporary Two sale in London for £46,850 ($73,804), surpassing its £20,000–£30,000 estimate. The sale also set records for three Gerald Summers chairs commissioned by Wilfred Randolph Brown, with prices of £38,450, £32,450 and £27,500.

Fine art

German company returns art to Stern Estate

concordia.ca

German casino returns Nazi-looted painting by Dutch master Juriaen Pool II (1665-1745) to the Estate of Dr. Max Stern. The work, The Masters of the Goldsmith Guild in Amsterdam in 1701, was returned to the Amsterdam Museum after provenance research and restitution efforts. The article notes the painting’s journey from a German-owned casino to restitution and context about the Stern Estate and related institutions.

Fine art

Christie’s Unveils $21 Million West Coast Modern Art Collection

Christie’s

Christie’s announced a private West Coast collection of Modern and Contemporary art estimated above $21 million. Works by Magritte, O’Keeffe, Hofmann, Miró, Dubuffet and Ruscha were scheduled across three New York sale categories.

Fine Art

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