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October 2016 fine-art market intelligence

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Fine art

AO Auction Recap London Phillips 20th Century and Contemporary Evening Sale October 5, 2016

artobserved.com

A recap of Phillips London’s 30-lot evening sale during Frieze Week, noting 6 unsold lots and a final tally of £17,867,750. It mentions key lots and artists including Thomas Schütte, Urs Fischer, Rudolf Stingel, Mark Grotjahn, Mark Bradford, Andy Warhol, Keith Haring, Gerhard Richter, Anselm Kiefer, Antony Gormley, Damien Hirst; highlights include Stingel and Bradford achieving or surpassing estimates and several notable pass-ins.

Fine art

Stolen van Gogh paintings recovered after 14 years

smithsonianmag.com

Vincent van Gogh’s View of the Sea at Scheveningen (1882) and Congregation Leaving the Reformed Church in Nuenen (1884) were recovered by Italian authorities 14 years after they were stolen from the Van Gogh Museum in Amsterdam in December 2002. The paintings were found in Castellammare di Stabia, near Pompeii, wrapped in cloth in a warehouse and are expected to be used as evidence in a trial.

Fine art

Phillips evening sale in London led by Warhol and Bradford results in £17.9 million ($22.7 million)

news.artnet.com

Warhol’s Twenty Pink Maos (1979) sold for £4.7 million ($6 million) and Mark Bradford’s Rat Catcher of Hamelin III (2011) reached £3.7 million ($4.7 million) at Phillips, with the sale totaling £17.9 million ($22.7 million). The event was a 28-lot sale in London tied to Frieze Week, with several guarantees and a pre-sale estimate of £14.2 to £20.5 million.

Fine art

Carnegie Museum eyes $1 million Kerry James Marshall painting as Frieze opens

artnews.com

The article discusses Frieze London viewing and sales, including the Carnegie Museum’s interest in a Kerry James Marshall painting valued at around $1 million. It notes prices quoted in pounds for works such as Anish Kapoor’s Stave (Red) and observations about how a weaker pound could benefit international collectors during Frieze London.

Fine art

$6 million Jean Dubuffet leads impressive Leslie Waddington auction at Christie’s

news.artnet.com

Jean Dubuffet’s Visiteur au chapeau bleu (Visitor with Blue Hat) (1955) leads Christie’s sale of Leslie Waddington’s collection; the sale total reached £28.3 million ($36.1 million) with four artist records set. The auction occurred during Frieze week in London, and Waddington’s collection comprised 44 lots with pre-sale estimates of £12-18.5 million.

Fine art

Sotheby’s caps Frieze Week with record contemporary auction

news.artnet.com

Jean-Michel Basquiat's Hannibal (1982) is featured in Sotheby’s Frieze Week sale coverage. The article reports that Sotheby’s achieved the highest ever Frieze week evening sale total, with a £47.9 million ($59.6 million) sale, and notes the comparative lower lot count (34 works) for the evening sale.

Fine art

Sotheby’s contemporary sale nets $59.6 million, led by $13.1 million Basquiat

artnews.com

The sale at Sotheby’s New Bond Street in London totaled £47.9 million ($59.6 million) with a high estimate of £31.2 million and a 91.2 percent sell-through. Jean-Michel Basquiat’s Hannibal (1982) sold for £10.6 million ($13.1 million) to a phone bidder, leading the evening; the work significantly exceeded its £4.5 million ($5.6 million) high estimate.

Fine art

102 Latin American Artworks, and a New Institute, Will Go to MoMA

nytimes.com

Patricia Phelps de Cisneros, who is donating more than 100 major works of Latin American art to the Museum of Modern Art, and Glenn D. Lowry, MoMA’s director, are shown with Alejandro Otero’s Pampatar Board (1954). The article discusses Cisneros and her husband Gustavo A. Cisneros donating 102 more works and establishing a research institute at MoMA for Latin American art.

Fine art

Can Sotheby’s recapture Munch mania with this $50 million canvas

news.artnet.com

Edvard Munch, Girls on the Bridge (1902) is highlighted as a potential second-priciest work at Sotheby’s New York sale on November 14, 2016, after The Scream. The piece previously sold for about $30.8 million in May 2008 at Sotheby’s New York and for $7.7 million in 1996, all at Sotheby’s New York. Other key works include Pablo Picasso pieces (one painting up to $18 million and a sculpture up to $8 million), Tamara de Lempicka (up to $6 million), László Moholy-Nagy (up to $4 million), and Diego Rivera (up to $700,000).

Fine art

Paul Allen said to be seller of $35 million Richter jet painting

bloomberg.com

Paul Allen is reported to be the owner of a Gerhard Richter painting of a jet fighter that could fetch as much as $35 million at Phillips in New York. The work previously sold for $11.2 million at Christie’s in 2007, a record at the time for the artist.

Fine art

Phillips launches debut Hong Kong sale with Richter Warhol Kusama

news.artnet.com

Artists mentioned include Yayoi Kusama, Gerhard Richter, Andy Warhol, Roy Lichtenstein, George Condo, Lee Ufan, Liu Wei; the sale in Hong Kong at Mandarin Oriental is estimated to reach up to 100 million HKD ($12.9 million), with top works including a Richter Abstraktes Bild and a Lichtenstein landscape.

Fine art

Tech billionaire Paul Allen likely seller of Gerhard Richter at Phillips for up to $35 million

news.artnet.com

Gerhard Richter, Jet Fighter (1963) mentioned as Düsenjager (1963) is linked to tech billionaire Paul Allen as the likely consignor for a Phillips sale in November with an asking price up to $35 million. The article notes Bloomberg reporting by Katya Kazakina and quotes Phillips spokesman Michael Sherman; it also references the painting’s previous auction record and Richter market context.

Fine art

Lessons from the unfolding Old Masters forgery scandal

hyperallergic.com

The article discusses a brewing scandal in the Old Masters market centered on alleged forgeries, including a painting once attributed to Frans Hals that sold for $10 million and is now considered a forgery. It also covers the Cranach painting seized by French authorities, linked to Giulano Ruffini, and mentions related works by Parmigianino’s circle and Orazio Gentileschi, with display at the Metropolitan Museum of Art and the National Gallery in London.

Fine art

Sotheby’s to Offer a Rauschenberg Survey from the Marks Collection

Sotheby’s

Sotheby’s announced that more than a dozen Robert Rauschenberg works from James and Roslyn Marks would be offered from fall 2016 through spring 2017, spanning nearly every period of the artist’s career and carrying published estimates up to $400,000.

Fine Art

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