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November 2014 fine-art market intelligence

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Fine art

Giacometti leads Sotheby’s record $422 million sale

artnews.com

Giacometti bronze sculpture Chariot (1950) sold for $100 million, contributing to Sotheby’s record $422.1 million sale; works by Modigliani and van Gogh also featured with $70.7 million and $61.8 million respectively.

Fine art

Sotheby’s Has Record Auction With Works By Giacometti and Van Gogh

mainepublic.org

Giacometti and Van Gogh are among the artists discussed in the Sotheby’s auction coverage. The works included a Giacometti sculpture that sold for over $100 million and a Van Gogh still-life that sold for almost $62 million; Modigliani also sold for more than $70 million. The article notes the auction topped $422 million in total.

Fine art

Chinese film magnate buys Van Gogh for $62 million

news.artnet.com

Vincent van Gogh, Still Life, Vase with Daisies and Poppies (1890) is reported to have been bought by Wang Zhongjun of Huayi Brothers at Sotheby’s New York for $61.8 million, with a pre-sale estimate of $50 million. The painting is noted as one of the early Van Gogh works to reach the United States market, and the article mentions related sales and the record for Van Gogh’s Portrait of Dr. Gachet at $82 million.

Fine art

Industry veteran Jerry Perenchio donates largest single art gift to LACMA

hollywoodreporter.com

Industry veteran Jerrold “Jerry” Perenchio donates a large art collection to the Los Angeles County Museum of Art, including paintings by Monet, Cezanne, Degas and other masters. The gift coincides with a $125 million contribution from the Los Angeles County Board of Supervisors toward LACMA’s new central building designed by Peter Zumthor.

Fine art

Manet painting sells for $65 million at Christie’s, setting new record

bbc.com

Edouard Manet's Spring, depicting Jeanne Demarsy, sold at Christie’s in New York for $65 million (£40.6m), setting a new auction record for the artist. The buyer was the J. Paul Getty Museum in Los Angeles. The sale total exceeded the $33.2 million previous record for a Manet and the Christie’s sale overall was valued at over $165 million.

Fine art

Television tycoon donates modernist trove to LACMA

hyperallergic.com

Edouard Manet’s M. Gauthier-Lathuille fils (1879) and Pablo Picasso’s Tete (Head of Fernande) (1909) are among the works highlighted in a bequest to LACMA from Jerry Perenchio. The donation, totaling over $500 million with at least 47 works, accompanies plans for a new building project designed by Peter Zumthor, funded partly by public coffers, and will be showcased in spring 2015.

Fine art

Getty Museum buys Manet’s Spring for a record $65.1 million

apnews.com

The J. Paul Getty Museum in Los Angeles announced it paid a record $65.1 million for Edouard Manet’s Spring, a portrait of actress Jeanne Demarsy, auctioned at Christie’s in New York. The work, painted in 1881, joins other Manet pieces at the Getty and was intended to be part of four seasonal portraits. The sale proceeds will benefit an American foundation supporting environmental and public health causes.

Fine art

Record $65.1 M Manet leads Christie’s to solid $165 M impressionist-modern total

artnews.com

Manet’s Le Printemps (1881) sold for $65.1 million, record for the artist, at Christie’s Impressionist and Modern auction. Christie’s total was $165.64 million, with 4 of 39 lots unsold and 20 above estimates; the night’s star was Manet’s Le Printemps, bought by Otto Naumann with Brooke Lampley on the phone as underbidder.

Fine art

$159 Million Bunny Mellon Auction at Sotheby’s Sells Out Amid Bidding Frenzy

news.artnet.com

The article reports Sotheby’s sold the Rachel “Bunny” Mellon collection for $158.7 million, well above the $82.9–120.1 million estimate, with all 43 lots sold in a white-glove sale. Notable works included Mark Rothko paintings; Alex Branczik purchased Untitled (1970) for $35.5 million (with premium $40 million), and Untitled (Yellow, Orange, Yellow, Light Orange) (1955) sold for $32.5 million after a late bid by the Nahmad family.

Fine art

Hedge Fund mogul Steve A. Cohen buys Giacometti sculpture for $101 million

news.artnet.com

Steve A. Cohen purchased Alberto Giacometti’s Chariot for $101 million at Sotheby’s, a sale reported by Artnet News and linked to by The New York Times. The bid was placed on Cohen’s behalf by David Norman of Sotheby’s. The sale followed a prior record-setting context involving Giacometti’s Walking Man I and Manet’s Le Printemps at Christie’s.

Fine art

Spring by Eduard Manet sold for $ 65 million

gallerix.org

Spring (La Primavera) by Eduard Manet sold for $ 65.13 million at Christie’s in New York, setting a record for French Impressionist works. The painting depicts actress Jeanne Demarsy during a summer walk with an umbrella and was estimated at $25-30 million prior to the sale.

Fine art

Jasper Johns flag sells for $36 million at Sotheby’s setting artist auction record

artlyst.com

Jasper Johns’sFlag refers to Jasper Johns’ work Flag, which sold for $36,005,000 at Sotheby’s. The sale set a new record for Johns at auction. The result was led by Mark Rothko’s No. 21 (Red, Brown, Black and Orange) from The Schlumberger Collection, which sold for $44,965,000, and Jean Dubuffet’s Cité Fantoche, which sold for $7,445,000, all noted during Sotheby’s contemporary art evening sale in New York.

Fine art

Sotheby’s autumn auction of American Art features three works from the Georgia O’Keeffe Museum led by Jimson Weed/White Flower No. 1

prweb.com

Georgia O’Keeffe Museum deaccessions are the basis of Sotheby’s autumn American Art sale in New York on 20 November 2014, led by Jimson Weed/White Flower No. 1 (est. $10/15 million) with two additional works On the Old Santa Fe Road (est. $2/3 million) and Untitled (Skunk Cabbage) (est. $500/750,000).

Fine art

Christie’s contemporary art sale nets $852.9 million, all-time auction record

artnews.com

Christie’s contemporary art sale in New York grossed $852.9 million across 75 lots, setting an all-time auction record. Warhol’s Triple Elvis and Four Marlons led at $81.9 million and $69.6 million respectively, with Cy Twombly achieving a record untitled work at $69.6 million. Eleven artists set new records, and the sale achieved a 94 percent sell-through rate.

Fine art

Epic Christie’s $852.9 million blockbuster contemporary art sale is the highest ever

news.artnet.com

Roy Lichtenstein’s Reflections on the Prom (1990) sold for an amount described as TK with an estimate around $15 million. Andy Warhol’s Triple Elvis (Ferus Type) (1963) sold for $81.9 million, with an estimated region around $70 million. The Christie’s sale totaled $852.9 million, exceeding its roughly $600 million estimate, with 15 artist records set and 75 of 80 lots sold. Warhol’s Elvis and Brando works accounted for $151.5 million of the total, each originally estimated around $70 million.

Fine art

Christie’s contemporary art auction nets $852.9 million

artforum.com

Christie’s contemporary art auction brought in a record total of $852.9 million, exceeding its high estimate of $836 million. Notable sales included Warhol’s Triple Elvis (Ferus Type) at $82 million, Four Marlons by Warhol at $69.6 million, De Kooning’s Clamdigger at $29.2 million, and an untitled work by Cy Twombly at $69.6 million.

Fine art

Getty acquires Manet work Spring for about $65 million to be shown

latimes.com

The J. Paul Getty Museum acquired Édouard Manet's 1881 painting Spring (Le Printemps) for more than $65 million and will be displayed on Nov. 25 in the Getty’s West Pavilion. The sale set a record for Manet, surpassing a previous high of $33.2 million for Self Portrait With a Palette. The acquisition adds Spring to a group of Manet works at the museum, alongside Portrait of Madame Brunet (1860-63), The Rue Mosnier With Flags (1878), Bullfight (1865), and Portrait of Julien de la Rochenoire (1882).

Fine art

The story of the first painting to sell for over a million pounds

spectator.com

The Spectator article covers Velázquez’s portrait of his assistant Juan de Pareja, which became the first painting to sell for over a million pounds at Christie’s on 27 November 1970, surpassing the prior record and reaching £2,310,000 in the sale.

Fine art

$44M O'Keeffe painting more than triples auction record for woman artist

hyperallergic.com

Georgia O’Keeffe’s Jimson Weed/White Flower No. 1 (1932), oil on canvas, sold for $44,405,000 at Sotheby’s as part of an American Art auction, setting a record for the most expensive work by a female artist sold at auction. The sale benefited the Georgia O’Keeffe Museum, which also offered two other works that day, including Untitled (Skunk Cabbage) and On the Old Santa Fe Road.

Fine art

O’Keeffe painting sells for $44 million at Sotheby’s, sets record for work by female artist

news.artnet.com

Georgia O’Keeffe’s Jimson Weed/White Flower No. 1 sold for $44.4 million at Sotheby’s, far exceeding its $10–15 million estimate and setting a new record for a work by a female artist. The sale contributed to a total of $75.4 million for the American art sale, with O’Keeffe’s three works for the Georgia O’Keeffe Museum acquisitions fund totaling $50.4 million.

Fine art

Georgia O’Keeffe’s Jimson Weed sells for $44.4 million

theartwolf.com

Georgia O’Keeffe’s Jimson Weed/White Flower No. 1 sold for $44,405,000, setting an auction record for the artist and for any female artist. The sale took place at Sotheby’s and contributed to a total of $75.4 million for the auction, with multiple works from the Georgia O’Keeffe Museum on offer.

Fine art

Georgia O'Keeffe painting sets auction record for female artist

bbc.co.uk

Georgia O'Keeffe's white blossom painting sold for $44.4m (£28.8m) at auction, setting a record for a work by a female artist. The piece surpassed Joan Mitchell's previous record of $11.9m (£7.5m). The sale was at Sotheby's in New York, with an estimated $15m (£9.5m) that was exceeded after bidding, and proceeds will support the O'Keeffe Museum's acquisitions funds.

Fine art

Georgia O'Keeffe's Jimson Weed/White Flower No 1 sets female-artist auction record

paulfrasercollectibles.com

Georgia O'Keeffe's Jimson Weed/ White Flower No 1 sold for $44.4 million at Sotheby's in New York, setting a new record for the work of a female artist. The prior female-artist record was $11.9 million by Joan Mitchell, which Jimson Weed surpassed by 273.1%. The painting was consigned by the O'Keeffe Museum. Another O'Keeffe work, On the Old Santa Road, sold for $5 million.

Fine art

Georgia O'Keeffe painting sets auction record for female artist

bbc.com

Georgia O'Keeffe's white flower painting sold for $44.4m (£28.8m) at auction, setting a new record for a female artist. The work, Jimson Weed/White Flower No 1, had an estimated price of $15m (£9.5m) and was sold by the Georgia O'Keeffe Museum in Santa Fe, with proceeds supporting the museum's acquisitions funds.

Fine art

Kunstmuseum Bern accepts 1,300 artwork Nazi-Era Gurlitt collection amidst legal battles

news.artnet.com

The Kunstmuseum Bern and the German government announced that the Swiss museum will accept the nearly 1,300 artworks bequeathed by Cornelius Gurlitt, including works by Matisse, Liebermann, Dix, and Chagall; many are suspected of being looted by the Nazis. The works will remain in Germany while provenance is resolved, with a task force continuing research into restitution and a full list of works to be published soon to aid heirs.

Fine art

Bunny Mellon collection more than doubles expectations at 218 million

news.artnet.com

The Bunny Mellon collection at Sotheby’s achieved total sales of $228 million, far exceeding a $100 million presale estimate. The sale included a world record $32.6 million hammer price for a blue diamond and notable Rothko paintings that fetched $36.5 million and $40 million.

Fine art

Female Surrealists Reclaim a Distinct Place in the Movement

Sotheby’s

Sotheby’s examines women associated with Surrealism and the ways their work challenged the movement’s treatment of gender, identity and mystery.

Fine Art

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