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October 2013 fine-art market intelligence

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Fine art

Abstract masterpiece by Gerhard Richter from the collection of Eric Clapton

press.christies.com

Gerhard Richter Abstraktes Bild (809-1) from the Eric Clapton collection is highlighted as a top work in Christie’s fall season and will be sold in New York on November 12, 2013, after on-viewings in London and Paris; the release includes quotes about the work and provenance mentioning its 2001 auction acquisition by Clapton.

Fine art

SMU's Meadows Museum acquires significant portrait by Goya

dallasnews.com

The Meadows Museum at Southern Methodist University has acquired an important late portrait by Francisco Goya in honor of the museum's 50th anniversary. The oil-on-canvas depicts Goya's grandson Mariano, painted in 1827, and marks a major addition to the Meadows Collection. The acquisition was financed through the Meadows Foundation and Eugene McDermott Foundation.

Fine art

Bacon painting of Freud expected to fetch $85m (£53m) at auction

bbc.com

Francis Bacon’s triptych Three Studies of Lucian Freud (1969) is expected to fetch at least $85m (£53m) at auction in New York. The work, one of Bacon’s greatest masterpieces, will premiere in the UK at Christie's during Frieze Art Week in London, with a preparatory version having sold for £23m in 2011.

Fine art

RELEASE: Francis Bacon’s Three Studies of Lucian Freud an icon of twentieth century painting

press.christies.com

Francis Bacon’s Three Studies of Lucian Freud, an icon of twentieth century painting, is highlighted in a Christie's press release issued in New York Americas on 11 October 2013. The release discusses the painting’s exhibition timeline during Frieze Art Week and its anticipated sale at Christie’s New York on November 12, mentioning a world auction record for Bacon and Freud’s collaboration as a centerpiece of post-war and contemporary art.

Fine art

Francis Bacon portrait of Lucian Freud to set record at Christie’s auction

globalnews.ca

Francis Bacon’s Three Studies of Lucian Freud is discussed as potentially selling for up to $100 million at Christie’s New York sale, potentially surpassing the artist’s current record. Christie’s Francis Outred comments that the market has moved on since Bacon’s 2008 Triptych sold for $86 million.

Fine art

The New Orleans Museum Of Art acquires major work by Roy Lichtenstein

noma.org

The New Orleans Museum of Art announces the gift of Five Brushstrokes, 1984 (Fabricated 2010) by Roy Lichtenstein, a 20-foot tall painted aluminum sculpture installed in front of the museum by the end of 2013. The work is a gift from Sydney and Walda Besthoff with partial gift from the Roy Lichtenstein Foundation.

Fine art

RELEASE: UNTITLED (No. 11) A RADIATING SUNSET-ORANGE ABSTRACT MASTERPIECE BY MARK ROTHKO

press.christies.com

Untitled (No. 11) by Mark Rothko is described as a radiating sunset-orange abstract masterpiece to be offered at Christie’s in New York in November 2013. The release notes its orange-yellow and white cloud-like colors within a deep orange field, mentions prior record sale of a Rothko painting, and notes the piece’s exhibition history and estimated price range.

Fine art

Nazi loot is in major National Gallery show

independent.co.uk

Gustav Klimt's unfinished portrait of Amalie Zuckerkandl, on loan to the National Gallery for Facing the Modern: The Portrait in Vienna in 1900, is discussed as Nazi-looted art. The painting was connected to Amalie Zuckerkandl, Ferdinand Bloch-Bauer, and Erich Führer, with a history of confiscation and restitution involving Maria Altmann and the Klimt paintings.

Fine art

Heirs of Jewish collector push Austrian government to restitute Gustav Klimt’s Beethoven Frieze

gallerix.org

The heirs of Erich Lederer, a Jewish collector, request restitution of Gustav Klimt's Beethoven Frieze after claiming it was sold under duress in Austria post-World War II. Marc Weber, the family’s lawyer, says the Austrian Ministry of Culture has received the restitution lawsuit, noting the work was sold for 15 million Austrian shillings (about 1.09 million euros) far below its estimated value. The fresco, created in 1902 for the Vienna Secession, is currently in Austria.

Fine art

RELEASE: ANDY WARHOL’S COCA-COLA | The Icon of American Pop Art

mutualart.com

Andy Warhol’s Coca-Cola (3) is discussed as a famous Pop Art masterwork highlighted by Christie’s, with an estimate of 40,000,000–60,000,000 USD. The work, painted in 1962, is described as hand-painted rather than silkscreen and has been in a private collection for nearly two decades, with a London preview and Rockefeller Plaza sale on November 12.

Fine art

Max Stern estate reclaims 11th Nazi-looted artwork

concordia.ca

The Max Stern estate reclaims Andreas Achenbach’s painting Scandinavian Landscape (1837), restituted after being sold under duress in 1937 at Lempertz Auction House in Cologne; the return, announced on October 29, 2013, was aided by Van Ham Fine Art Auctions and announced at the Embassy of Canada to Germany in Berlin.

Fine art

German auction house returns Nazi looted Stern painting

thecjn.ca

The article reports that a Nazi-looted 1837 painting, Scandinavian Landscape by Andreas Achenbach, was withdrawn from auction in Germany and restitution was announced to the Canadian and Israeli university heirs of Montreal art dealer Max Stern. Concordia University led the Max Stern Art Restitution Project, representing Stern's estate and its beneficiaries (Concordia, McGill University, Hebrew University of Jerusalem).

Fine art

Dia’s Return Reconnects Its Collection With New York

Sotheby’s

Sotheby’s reports on Dia Art Foundation’s renewed New York presence and the institutional history behind its presentation of Minimal and Conceptual art.

Fine art

Xu Zhen’s Armory Commission Extends MadeIn Company’s Experiment

Sotheby’s

An open letter considers Xu Zhen’s selection for the Armory Show commission and the artist’s decision to work through the MadeIn Company identity.

Fine Art

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