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April 2017 fine-art market intelligence

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Fine art

At 12.6 million, an Andy Warhol Mao sets new high for Western contemporary art in Asia

news.artnet.com

Andy Warhol, Mao (1973) sold for 98.5 million HK dollars (12.6 million USD) at Sotheby’s Hong Kong, setting a new high for Western contemporary art in Asia. The hammer price was 86 million HK dollars (11 million USD), below the low pre-sale estimate of 90 million HK dollars (11.6 million USD). The work was sold to an unnamed Asian private collector and was guaranteed by an irrevocable bid.

Fine art

Warhol Foundation sues photographer Lynn Goldsmith over Prince-themed artworks

news.artnet.com

Artnet News reports that the Warhol Foundation for the Visual Arts filed a lawsuit against photographer Lynn Goldsmith regarding Prince-themed artworks by Andy Warhol. The foundation seeks a declaratory judgment that Warhol’s Prince series does not infringe Goldsmith's copyright and argues the works are transformative or fair use, while asserting Goldsmith’s claims are barred by the statute of limitations.

Fine art

Bronze maquette for a sculpture by Henry Moore auctioned

fineartpublicity.com

A bronze maquette for Henry Moore's Draped Reclining Figure (British, 1898-1986) sold for $195,500, above its $150,000 high estimate, at Cottone Auctions' Fine Arts & Antiques Auction. The sale, held online and in Geneseo, totaled about $2.1 million in gross. The item came from the Seymour H. Knox Collection from Buffalo, with other pieces from New York museums and estates also offered.

Fine art

Monumental Basquiat Leads Contemporary Art Evening Sale

sothebys.com

Jean-Michel Basquiat’s Untitled, 1982, is described as a monumental masterpiece leading Sotheby’s May Contemporary Art Evening sale in New York. The article notes other artists in the sale including Roy Lichtenstein, Andy Warhol, Robert Rauschenberg, Cy Twombly, David Hockney, and Gerhard Richter.

Fine art

Sotheby’s Predicts Basquiat Canvas Will Sell for Record $60 Million

news.artnet.com

Jean-Michel Basquiat Untitled (1982) is predicted by Sotheby’s New York to fetch $60 million at the Contemporary Art Evening auction on May 18. The article notes this would surpass the artist’s current high-water mark of $57.3 million set at Christie’s New York in May 2019, and compares it to other 1982 Basquiat works and prior top sales.

Fine art

Nazi-looted painting returns to Paris almost 80 years after theft

newsweek.com

The painting Bergère Rentrant des Moutons by Camille Pissarro, looted by the Nazis from the Meyers, returned to Paris and will be displayed at the Musée d'Orsay after a long legal battle involving Léone Meyer and the University of Oklahoma. The work arrived in Paris on April 20, following a settlement of the lawsuit by Meyer and confirmation from Pierre Ciric, Meyer's lawyer.

Fine art

Gathering light: Beauford Delaney's artistry shines in new KMA exhibit

eu.thespectrum.com

Beauford Delaney, a Knoxville native and abstract painter, is spotlighted in the Knoxville Museum of Art’s Gathering Light: Works by Beauford Delaney From the KMA Collection. The exhibit, opening May 5 and running through July 23, features about 40 works from Delaney’s estate, including Scattered Light and a 1933 pastel of Delaney’s mother Delia, along with self-portraits and watercolors.

Fine art

Christie’s to Disperse the Tuttleman Collection Across May Sales

Christie’s

Christie’s positioned modernist, Pop and Latin American works from Edna and Stanley Tuttleman across its May New York sales, led by a Roy Lichtenstein estimated at $2–3 million and sculptures by Botero and Moore.

Fine Art

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