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February 2021 fine-art market intelligence

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Fine art

Case review: René Gimpel’s heirs fight for restitution by French museums (2020)

itsartlaw.org

The case concerns three paintings by André Derain that were restituted to the heirs of René Gimpel by the Paris Court of Appeals in 2020; the paintings were previously in national collections and later restituted to the heirs. The article notes the involved works and the December 2020-January 2021 restitution developments, including the mayor of Marseille restituting Pinède, Cassis.

Fine art

Sotheby’s raked in a robust $26.7 million with an auction of works owned by the eclectic late collector Hester Diamond

news.artnet.com

Sotheby’s Masters sales totaled $135.7 million hammer, with the single-owner sale Fearless: the Collection of Hester Diamond realizing $26.7 million. The Botticelli Portrait of a Young Man Holding a Roundel led the results with $92.2 million, the second-most-expensive portrait ever sold, surpassing several notable Old Master works. The Bernini sculpture Autumn brought $8.9 million.

Fine art

Spanish government signs deal to keep Carmen Thyssen-Bornemisza Collection in Spain

theartnewspaper.com

The article reports that Spain reached a 15-year arrangement with Baroness Carmen Cervera to keep the Carmen Thyssen-Bornemisza Collection in Spain, including works by Monet, Sisley, Renoir, Degas, Rodin, Matisse and Picasso, with an annual fee of €6.5 million and a collection value of €1 billion.

Fine art

Restituted Van Gogh portrait to be offered at Christie’s

artnews.com

Vincent van Gogh, La Mousmé (1888), a drawing from his final years, is set to sell at Christie’s New York as part of the drawing sale “A Family Collection: Works on Paper, Van Gogh to Freud.” Estimated at $7 million–$10 million, the work stems from the family collection of London dealer Thomas Gibson and depicts an anonymous young sitter.

Fine art

A $9.8 million Sotheby’s Paris sale of Christo, Jeanne-Claude and friends doubles its estimate

news.artnet.com

Christo and Jeanne-Claude’s works and those by their artist friends sold for $9.8 million (€8 million) at Sotheby’s Paris, more than doubling the presale estimate. Notable results include The Umbrellas drawings by Christo selling for $2.1 million and $1.5 million, a work by Lucio Fontana, and other pieces such as Package and a Pont Neuf preparatory drawing. The sale was fully sold, with a private sale of preparatory drawings for The Gates reported.

Fine art

Sales for Christo and Jeanne-Claude’s art collection fetch more than $9 million on first day

thenationalnews.com

Christo Javacheff and Jeanne-Claude's art collection was highlighted in Sotheby’s Paris sale Unwrapped, Part I: The Hidden World of Christo and Jeanne-Claude, with sales reaching $9.7 million across 28 lots on the first day. The auction surpassed its €2.5 million to €3 million estimate, and individual works by Christo and Yves Klein featured prominently, including a drawing for The Umbrellas and a blue monochrome by Yves Klein that far exceeded its €100,000–€150,000 estimate to sell for $52,

Fine art

Collection of an American visionary press release

sothebys.com

The press release from Sotheby’s announces the unveiling for sale of the private collection of Anne Marion, a prominent American philanthropist and art collector, with an estimated value around $150 million. It highlights masterworks by Andy Warhol, Richard Diebenkorn, and Clyfford Still as central to the collection.

Fine art

A Vincent van Gogh landscape to go on the block in Paris could fetch nearly $10 million

news.artnet.com

Vincent van Gogh landscape Scène de rue à Montmartre (Impasse des deux frères et le Moulin à Poivre) (1887) is expected to sell for about $6 million to $9.7 million (€5 million to €8 million) at Sotheby’s and Mirabaud Mercier in Paris. The work has never been publicly exhibited and will be shown in Amsterdam, Hong Kong, and Paris before the March 25 auction.

Fine art

Exceptional 20th century art collection donated to the Seattle Art Museum to honor Jane Lang Davis and Richard E. Lang

prnewswire.com

Jane Lang Davis and Richard E. Lang donated a collection of 19 masterworks and $10.5 million to the Seattle Art Museum, with six works donated to the Yale University Art Gallery by the Friday Foundation. The gifts accompany prior monetary gifts of $9 million to nine Seattle arts organizations announced in October 2020. Artists mentioned include Lee Krasner (Night Watch, 1960), Clyfford Still (PH-338, 1949), Jane Lang Davis and Richard E. Lang (Lang Family Collection, 1973), and Philip Guston (The Painter, 1976).

Fine art

A gift of blue-chip Modern art comes to the Seattle Art Museum

theartnewspaper.com

The Art Newspaper reports on a donation to the Seattle Art Museum from the Friday Foundation, funded by the heirs of Jane Lang Davis and Richard E. Lang, comprising 19 works by artists including Bacon, Rothko, Krasner, Pollock, Frankenthaler, Kline and de Kooning.

Fine art

Seattle Art Museum receives major gift of contemporary art collection valued at about $400 million

spokesman.com

The Seattle Art Museum will acquire 19 abstract expressionist and European masterworks from the Lang Collection, donated by Jane Lang Davis and Richard E. Lang, plus $10.5 million in dedicated funds. The collection is valued at about $400 million according to a Sotheby’s executive cited in the report, with works by Jackson Pollock, Willem de Kooning and others.

Fine art

Christie’s Market Update: ["RELEASE: Christie's Post-War and Contemporary Art Online Sale Series Opens for Bidding February 25 - Christie's", "RELEASE: Christie's Post-War and Contemporary Art Online Sale Series Opens for Bidding February 25"]

Christie’s

Christie’s documents the market development behind ["RELEASE: Christie's Post-War and Contemporary Art Online Sale Series Opens for Bidding February 25 - Christie's", "RELEASE: Christie's Post-War and Contemporary Art Online Sale Series Opens for Bidding February 25"]. Its account reports that new York – Beginning February 25, Christie’s New York will host a series of four online only sales dedicated to the artists defining contemporary art today.

Fine art

Christie’s Market Update: Christie's to Offer the First Purely Digital NFT-Based Work of Art Ever Offered by a Major Auction House - Christie's

Christie’s

Christie’s documents the market development behind Christie's to Offer the First Purely Digital NFT-Based Work of Art Ever Offered by a Major Auction House - Christie's. Its account reports that nEW YORK – Christie’s is honored to present Everydays – The First 5000 Days by leading digital artist, Beeple, in a stand alone online-only sale open for bidding from February 25 - March 11, coinciding with First Open | Online.

Fine art

Christie’s Market Update: PRESS RELEASE: Sir Winston Churchill's Only Wartime Painting to be Offered in the Modern British Art Evening Sale, 1 March - Christie's

Christie’s

Christie’s documents the market development behind PRESS RELEASE: Sir Winston Churchill's Only Wartime Painting to be Offered in the Modern British Art Evening Sale, 1 March - Christie's. Its account reports that london – Christie’s Modern British Art Evening Sale on 1 March 2021 will be led by Sir Winston Churchill’s Tower of the Koutoubia Mosque (1943, estimate: £1,500,000-2,500,000), which is being offered from The Jolie Family Collection.

Fine Art

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