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September 2013 fine-art market intelligence

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Fine art

Sunset at Montmajour: van Gogh work discovered 20 years after experts rejected it as a fake

independent.co.uk

Vincent van Gogh’s Sunset at Montmajour was unveiled by the Van Gogh Museum as a genuine work, discovered after researchers confirmed it despite two decades of rejection. The painting, painted in 1888 during his Arles period, had been stored in a Norwegian attic before being authenticated through X-rays, chemical tests, and microscopic analysis.

Fine art

Long-lost Van Gogh painting identified

record-courier.com

The article reports that the 1888 landscape painting Sunset at Montmajour by Vincent van Gogh has been authenticated by the Van Gogh Museum as the real work, after decades in a Norwegian industrialist’s attic. The work, believed to be the first full-size Van Gogh discovered since 1928, was noted to have been painted July 4, 1888 and features impasto brushwork; it will be on display at the museum starting Sept. 24. The piece has a documented provenance and had been misidentified as a fake in the past.

Fine art

Corcoran signs settlement with Clark estate getting $10 million and part of Monet proceeds

washingtonpost.com

The Corcoran Gallery of Art will receive $10 million in cash and will have a role in a new national arts foundation under a final settlement in the estate dispute of heiress Huguette Clark. The museum will also collect half of the proceeds in excess of $25 million from the sale of Claude Monet’s Water Lilies and could claim 25 percent of any money recovered from the recipients of gifts Clark gave late in life.

Fine art

Relatives settle dispute over reclusive heiress Huguette Clark's will

huffpost.com

Huguette Clark's will dispute is settled in New York with Judge Nora Anderson overseeing. The settlement divides assets from Clark's multimillion-dollar estate between her goddaughter Wanda Styka, dozens of extended relatives, and a charitable arts organization to be housed in the Bellosguardo Foundation, with specific bequests including at least $10 million to the Corcoran Gallery of Art and a substantial gift if Monet's Water Lilies sells for over $25 million.

Fine art

Results: Christie’s inaugural Shanghai auction achieves RMB 154 million/USD$25 million

press.christies.com

The Christie’s inaugural Shanghai auction achieved RMB 154 million (USD 25 million) in total sales, with 98% sold by lot and 96% sold by value. Cai Guo-Qiang’s Homeland sold for RMB 15 million to aid the Quanzhou Contemporary Art Foundation. Hong Kong-based Christie’s described the sale as the first Picasso sold at auction in mainland China, with notable records for Cheong Soo Pieng and Masriadi.

Fine art

1st Picasso auctioned in China sold for 1.8 million dollars

sandiegouniontribune.com

The 1969 oil painting Homme Assis by Pablo Picasso was sold in Shanghai by Christie’s in China’s first mainland auction, fetching 1.8 million dollars. Christie’s overall auction in Shanghai valued the 42 works and jewelry around 100 million yuan and ended with a total take of 154 million yuan.

Fine art

Picasso's Homme Assis brings 1.9m to Christie's Shanghai auction

paulfrasercollectibles.com

Picasso's Homme Assis sold for $1.9m at Christie's inaugural Shanghai sale, against a $1m high estimate, as part of a broader sale that realised about $25m. The auction also included a ruby and diamond butterfly necklace by Faidee at $3.4m and a Cai Guoqiang drawing that brought $2.4m; Cheong Soo Pieng set a new Singaporean art record with By the River II at $678,326.

Fine art

Paris Became a Crucible for Modern Chinese Artists

Sotheby’s

Sotheby’s traces the Chinese artists who worked in Paris and the cross-cultural exchange that helped shape modern Chinese art.

Fine Art

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