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April 2018 fine-art market intelligence

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16 headlines

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Fine art

I’ve regained a part of my family: unusual Swiss restitution case brings John Constable painting home to heirs in France

artnews.com

The piece discusses a restitution case in which Alain Monteagle recovered a John Constable painting, Dedham from Langham (1813), looted in 1942, and returned to his family. The painting was exhibited at Christie’s in New York and planned for an auction in London; the story places the event within Switzerland’s historical stance on Nazi-looted art and notes prior Swiss restitution cases involving artworks by Max Liebermann and Albert von Keller.

Fine art

The decades-long dispute over millions of dollars in art owned by Ferdinand Marcos goes to trial

news.artnet.com

The article discusses a three-way international dispute over art and other assets once owned by Ferdinand Marcos and Imelda Marcos. A US District Court judge denied motions to dismiss and to grant summary judgment, moving the case closer to trial. The disputed property includes Monet's L’Église et La Seine à Vétheuil, Sisley’s Langland Bay, other unidentified paintings, sundry personal items, and about $15 million in cash and seized funds.

Fine art

Berkshire Museum sell-off approved by top Massachusetts court, ending lengthy legal battle

artnews.com

Alexander Calder, Albert Bierstadt, and Francis Picabia artworks, plus a Norman Rockwell piece given to the Berkshire Museum, are part of a deaccessioning plan approved by the Massachusetts Supreme Judicial Court; the sale could raise upwards of $55 million and may proceed with Sotheby’s in New York and a private Rockwell sale.

Fine art

London dealer ordered to return Egon Schiele works worth $5m to heirs of Holocaust victims

theartnewspaper.com

The article discusses a New York court ruling that London dealer Richard Nagy must return two Egon Schiele watercolours, Woman in a Black Pinafore (1911) and Woman Hiding Her Face (1912), valued together at about $5 million, to the heirs of Fritz Grünbaum, a Holocaust victim. The ruling, delivered by Justice Charles E. Ramos, rejects Nagy’s claim of lawful possession and cites the HEAR Act and the circumstances of seizure as invalidating a conveyance.

Fine art

Embattled casino mogul Steve Wynn quietly selling $100 million worth of art at Christie’s

news.artnet.com

Steve Wynn is consigning Andy Warhol’s Double Elvis [Ferus Type] (1963) and Pablo Picasso’s Le Marin (1943) at Christie’s, with an estimated combined value around $100 million. The two works are part of Wynn’s blue‑chip collection and are expected to lead Christie’s sale in New York on May 17, with Warhol’s piece estimated around $30 million. The news follows Wynn’s recent personal and financial upheavals, including selling his stake in Wynn Resorts and stepping down amid sexual misconduct allegations.

Fine art

The FBI has cracked the 30-year-old case of a stolen Marc Chagall

artrecovery.com

The article reports that a Marc Chagall painting titled Othello and Desdemona, stolen in 1988 from Ernest and Rose Heller, has been recovered by the FBI. It notes the theft involved multiple works and valued the stolen property at about $600,000 at the time, about $1.3 million today, and mentions other artists in the collection.

Fine art

Stolen art returned , FBI

fbi.gov

Chagall oil painting recovered nearly 30 years after heist; the work titled Othello and Desdemona by Marc Chagall was stolen in 1988 and recovered last year, leading to its return to the owners’ estate.

Fine art

Phillips contemporary sales yield new records for African American artists Stanley Whitney and Hugo McCloud, with Lynette Yiadom-Boakye among top lots

culturetype.com

The Culture Type article covers Phillips contemporary art sales in London and New York, highlighting new artist records for Stanley Whitney and Hugo McCloud. It notes Lynette Yiadom-Boakye's works, including The Separate (2011), selling among the top lots, and cites Jack Whitten and Lynette Yiadom-Boakye as standout artists in the sale, with overall Phillips results achieving high totals.

Fine art

National Gallery of Canada plans to sell a Chagall so it can buy a Jacques-Louis David

hyperallergic.com

National Gallery of Canada plans to sell Marc Chagall, La Tour Eiffel (1929) to fund acquisition of Jacques-Louis David, Saint Jerome Hears the Trumpet of the Last Judgment (1779). The Chagall is to be auctioned at Christie’s New York on May 15 with an estimated value of $6 to $9 million USD; the David is also of high value and is of interest to two Quebec museums (Montreal Museum of Fine Arts and Musée de la civilisation) which may bid jointly. The gallery emphasizes the goal is to keep the work in Canada and strengthen the national collection.

Fine art

Legal battle over Modigliani painting rumbles on

theartnewspaper.com

A New York State judge’s decision keeps a claim on Seated Man with a Cane alive. The painting by Amedeo Modigliani, Seated Man with a Cane (1918), was allegedly confiscated in 1944 and later purchased in 1996; the case involves the Nahmad family and the International Art Center, with questions about applicable law and HEAR Act implications.

Fine art

Lacma acquires major works by women through lively Collectors Committee Weekend

theartnewspaper.com

Betye Saar I’ll Bend But I Will Not Break (1998) is one of ten works acquired by Lacma during Collectors Committee Weekend, including pieces by Martha Boto, Jennifer Bartlett and Julie Mehretu, and the museum's first sculpture by Ruth Asawa; the event raised about $2.65 million across 20–21 April 2018.

Fine art

Lacma acquires major works by women through lively Collectors Committee Weekend

davidzwirner.com

Lacma acquires major works by women through lively Collectors Committee Weekend; the article reports that Lacma raised about $2.65m at the Collectors Committee Weekend, enabling the acquisition of ten works across departments, including pieces by Martha Boto, Betye Saar, Jennifer Bartlett, Julie Mehretu, and Ruth Asawa. The event featured dinners, a gala, and a benefit auction, with acquisitions decided through curator-led presentations and published prices and seller information.

Fine art

‘An equal partnership’ between Matisse and his model

christies.com

Henri Matisse, Odalisque couchée aux magnolias (1923), discussed by Hilary Spurling, is part of The Collection of Peggy and David Rockefeller and is offered at Christie’s in New York on 8 May. The model depicted is Henriette Darricarrère, whose collaboration with Matisse is described as an equal partnership, with details about the painting’s studio origin and use of props. The work’s price is presented as estimate: On request.

Fine art

Modigliani’s greatest nude is also his largest painting ever

sothebys.com

Amedeo Modigliani’s Nu couché (sur le côté gauche) is described as the largest painting of the artist’s career and the finest example from the reclining nudes series, estimated to sell for over $150 million at Sotheby’s Impressionist & Modern Art Evening Sale in New York on May 14.

Fine art

Chagall family rebukes National Gallery over decision to sell La Tour Eiffel

ottawacitizen.com

Marc Chagall’s La Tour Eiffel is being sold by the National Gallery of Canada. The Chagall Committee in Paris sent a letter to gallery director Marc Mayer criticizing the decision and urging consideration of alternative solutions. The sale was intended to finance Jacques-Louis David’s Saint Jerome, which Quebec has classified as a provincial heritage document to block the purchase.

Fine art

Pair of paintings by Mary Elizabeth Price achieves a record $306,250 at Doyle

usaartnews.com

Mary Elizabeth Price was the artist of the two floral paintings titled Flower Border I and Flower Border II, which together realized $306,250 at Doyle in an April 18, 2018 auction. The James A. Michener Art Museum in Doylestown, Pennsylvania purchased the works for its permanent collection, marking a world auction record for the artist.

Fine Art

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