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June 2014 fine-art market intelligence

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Fine art

Oregon museums dangle tax breaks in bid for masterpieces

news.artnet.com

Paul Signac Les Tours Vertes, La Rochelle (1913) is mentioned as part of a loan to the Jordan Schnitzer Museum of Art; Pablo Picasso Fillette Aux Nattes Et Au Chapeau Vert (1956) is noted as on loan from a private collection; Francis Bacon Three Studies of Lucian Freud (1969) sold for $142.4 million at Christie’s and later appeared on loan at the Portland Art Museum; the article discusses Oregon’s lack of a use tax and how museums benefit from loans through private collectors, including Elaine Wynn’s loan of the Bacon triptych.

Fine art

New record for 19th century art at Villa Grisebach

news.artnet.com

Max Liebermann, Schafherde (1888) led Villa Grisebach's 19th Century Art sale with a €575,000 result. Joseph Anton Koch followed with Landschaft mit Apoll unter den Hirten (c. 1836) at €312,500. The sale total was €18.5 million for spring sales, with overall results at €3 million for the 19th Century Art category. Other notable results include Ben Nicholson’s White Relief (1934) at €537,500, Eduardo Chillida’s Estela a Picasso (1975) at €562,500, František Kupka’s Der Rosafarbene Hut (1906) at €350,000, and Konrad Klapheck’s Im Zeitalter der Gewalt I (1994) at €337,500.

Fine art

RELEASE: The Barbara Piasecka Johnson Collection with Proceeds to Benefit the Barbara Piasecka Johnson Foundation - London, 8 July

press.christies.com

The press release from Christie's London announces works from The Barbara Piasecka Johnson Collection with proceeds to benefit the Barbara Piasecka Johnson Foundation, to be offered at Christie’s London from 8 to 17 July. The star lot is Saint Praxedis by Johannes Vermeer (1655), with an estimate of £6-8 million, supported by material analysis from the Rijksmuseum and Free University, Amsterdam validating Vermeer's authorship.

Fine art

Christie’s to auction Vermeer’s Saint Praxedis after Rijksmuseum research strengthens attribution

codart.nl

Christie’s will auction Saint Praxedis by Johannes Vermeer of Delft (1632-1675) in London on 8 July as part of the Old Master & British Paintings Evening Sale. Recent technical analysis by the Rijksmuseum supports Vermeer’s authorship and links the lead white pigment to Dutch painting, with a match to Vermeer’s Diana and her Companions in the Mauritshuis.

Fine art

Top Dollar at Sotheby’s £122 million Impressionist and Modern Evening

news.artnet.com

Coline Milliard reports that Sotheby’s Impressionist and Modern Art evening sale in London realized £121,957,000 ($207,875,707) with a Monet Water Lilies selling for £31,722,500 ($54,071,001) and Mondrian’s Composition with Red, Blue and Grey selling for £15,202,500 ($25,912,661). The sale saw 96.2 percent by value and 91.3 percent by lot, with 46 lots offered and most selling; proceeds benefited from two major collections, including Seventeen works from Jan Krugier's estate. The article notes the market displaying recovery rather than bullishness and compares results to prior records for Monet and other artists.

Fine art

Monet’s Water Lilies sells for HK$418 million at London auction

scmp.com

Claude Monet’s Water Lilies (Nympheas), a 1906 painting, sold for £31.7 million (HK$418 million) to an anonymous bidder at a Sotheby’s sale in London. The work is noted as one of the highest sums paid for a Monet, previously belonging to Paul Durand-Ruel and exhibited in major galleries including MoMA in New York and the Musée National d Art Moderne in Paris.

Fine art

Kurt Schwitters' Ja-Was?-Bild sets new artist record in London sale

paulfrasercollectibles.com

Kurt Schwitters' Ja-Was?-Bild (1920) sold at Christie's London for £13.9m ($23.7m), surpassing the previous record for Schwitters' work. Alberto Giacometti's Femme de Venise II also featured, selling for £9m ($15.3m). The report notes the work's large size and scarcity on the private market as contributing factors, with Monet also referenced in Sotheby's London sale.

Fine art

Record-setting Schwitters can’t stop Christie’s flop in London

news.artnet.com

Kurt Schwitters Ja – Was? – Bild sold for £13,970,500 (US$23,710,964) at Christie’s London on June 24, 2014. The sale was part of a Christie’s Impressionist and modern evening auction that sold 40 of 60 lots (67% sell-through) with total sales including buyer’s premium of £85,784,000 ($146,004,368). Other highlighted works included Balthus Les trois soeurs, and Henri Matisse L’artiste et le modèle nu, with the latter selling for £6,802,500 ($11,577,855).

Fine art

Artemisia Gentileschi's Mary Magdalene sets new world record

paulfrasercollectibles.com

Artemisia Gentileschi's Mary Magdalene in Ecstasy sold for $1.1 million against a $407,352 estimate at Sotheby's Paris on June 26, establishing a new world record for the artist. The painting, rediscovered in the south of France, was part of a sale of old master and 19th century paintings.

Fine Art

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