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May 2021 fine-art market intelligence

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Fine art

Courbet restitution settles with heirs of Hungarian collector, Sotheby’s sale planned

artnews.com

Gustave Courbet Baigneuses dans la forêt (1862) from Baron Ferenc Hatvany is restituted and set to be sold in Sotheby’s online Impressionist and Modern Art sale, with an estimated price of 180,000 to 250,000 USD. The work, confiscated from Hatvany in 1919 and later during WWII, has not appeared on the market since 1908 and is now offered as part of a settlement with Hatvany heirs.

Fine art

Christie’s inaugural 21st Century Evening Sale achieves USD 210.5 million

press.christies.com

Jean-Michel Basquiat’s skull painting In This Case (1983) led Christie’s inaugural 21st Century Evening Sale, selling for USD 93,105,000 as part of a total USD 210,471,500; the sale achieved 95% by lot and 123% hammer above the low estimate. Ana Maria Celis commented on the diverse group of 35 artists and 11 records set across 29 countries participating in the auction.

Fine art

Jean-Michel Basquiat's In this Case painting sells for $93.1 mn at New York auction

economictimes.indiatimes.com

Jean-Michel Basquiat's painting In this Case sold for $93.1 million at Christie’s in New York, including fees and commissions, after initially fetching $81 million. The work, created in 1983, depicts a skull on a red background and continues Basquiat’s themes of anatomy and representations of African-American characters.

Fine art

$93 million Basquiat leads Christie's new contemporary evening sale

artnews.com

Jean-Michel Basquiat, In This Case From, 1983 is highlighted as leading Christie's 21st Century sale in New York, which totaled $210.5 million with a 95 percent sell-through; the sale included multiple artists such as Alex Da Corte, Jordan Casteel, Nina Chanel Abney, Jonas Wood, Lynette Yiadom-Boakye, and Mickalene Thomas.

Fine art

Monet’s water lilies lead Sotheby’s three-auction marathon in New York

theartnewspaper.com

The Art Newspaper reports Monet’s Le Bassin aux Nymphéas (Water Lilies) leading Sotheby’s three-auction marathon in New York, where the evening sale total reached about $439.6 million and Basquiat’s Versus Medici topped the contemporary sale at $50.8 million.

Fine art

Sotheby’s $221.3 million Impressionist and Modern sale was solid, but proves the true market fireworks are for newer art

news.artnet.com

Claude Monet, Le Bassin aux nymphéas (1917–19) is noted as the top lot, selling for $70.3 million; Paul Cézanne, Nature morte pommes et poires (Circa 1888–90) is also discussed; the sale total was $221.3 million with 31 of 33 lots sold; the article mentions strong activity from Asian buyers and cryptocurrency as a payment option for a physical work.

Fine art

Christie’s 20th Century Evening Sale achieves USD 481.1 million

press.christies.com

Pablo Picasso’s Femme assise près d'une fenêtre (Marie-Thérèse), 1932, sold for USD 103,410,000 at Christie’s 20th Century Evening Sale, contributing to a total of USD 481,114,000. The sale was part of Christie’s 20/21 Marquee Week in New York and the results helped push the spring New York sales total to USD 691,585,500.

Fine art

An international feud over a looted Pissarro painting comes to a head as a French court rejects a Holocaust survivor’s claim

news.artnet.com

Léone Meyer’s bid to keep Camille Pissarro’s La Bergère Rentrant des Moutons (Shepherdess Bringing in Sheep), 1886, looted during World War II, was rejected by a French court which ruled the Oklahoma settlement has jurisdiction in the United States. The case involves the Fred Jones Jr. Museum of Art at the University of Oklahoma and leaders of Meyer's family seeking restitution; Meyer must continue paying daily fines of $2,500, now totaling $3.65 million, until she drops the French lawsuits. The painting is currently at the University of Oklahoma and had previously been owned by Aaron and Clara Weitzenhoffer.

Fine art

Christie’s rounds off New York auction week with strong $481m 20th century sale and half of it was pre-sold through guarantees

theartnewspaper.com

The article reports Christie’s New York 20th century evening sale totaling $415.4 million ($481.1 million with fees), led by Picasso’s 1932 Femme assise près d’une fen̂tre (Marie-Thérèse) at $103.4 million. It notes records for Alice Neel, Grace Hartigan, Barbara Hepworth, and Alighiero Boetti, and highlights that about half the proceeds came from lots backed by guarantees, with 25 lots pre-sold through third-party or house guarantees. It also mentions notable results for Matisse, Hartigan, Neel, de Kooning, and Seurat within the sale.

Fine art

20th and 21st Century Evening Sales surpass $691 million, driven by Picasso and Basquiat

christies.com

The Christie’s sales week totalled $691,585,500 across two New York evening sales, with Picasso’s Femme assise près d’une fenêtre (Marie-Thérèse) realizing $103,410,000 and Basquiat’s In This Case $93,105,000. The combined 20th & 21st Century Evening Sales were supported by multiple bidding channels and a virtual audience in partnership with Brioni and Microsoft.

Fine art

Christie’s 20/21 Century Auctions realizes combined total of $775,272,750

press.christies.com

Christie’s 20/21 Century Auctions realizes a combined total of $775,272,750. The press release highlights performances from the Impressionist & Modern, American and Latin American Art categories in New York on 17 May 2021, with notable results including Pablo Picasso’s Femme assise près d'une fenêtre (Marie-Thérèse) at USD 103,410,000 and Jean-Michel Basquiat’s In This Case at USD 93,105,000.

Fine art

Paintings by 4 Black Female Artists Set Auction Records at Christie’s Evening Sale: Lynette Yiadom-Boakye, Nina Chanel Abney, Mickalene Thomas, Jordan Casteel

culturetype.com

Nina Chanel Abney, Lynette Yiadom-Boakye, Mickalene Thomas, and Jordan Casteel are named in connection with auction records at Christie’s Evening Sale. The article discusses records for these four Black female artists and cites specific works and prices reported during Christie’s 21st Century Evening Sale in New York.

Fine art

Christie’s live sale of Latin American art totals $9.4 million

press.christies.com

Christie’s live sale of Latin American Art in New York totalled $9,419,000. The top lot was Fernando Botero’s The Bather, a triptych that realized $1,830,000. Botero also saw strong results across sculpture, painting and works on paper, including Still Life with Soup Tureen and Watermelon at $325,000 and La pudeur.

Fine art

$20 million Joan Mitchell painting sold at Art Basel Hong Kong

artnews.com

Joan Mitchell’s 12 Hawks at 3 O’Clock (ca. 1962) sold for about $20 million to a private collector at Art Basel Hong Kong, via Lévy Gorvy. The sale set a high publicly recorded price for the artist. The painting previously engaged $14–16 million estimates at Christie’s in 2018 and later sold for $14.6 million with premium at auction in the same year.

Fine art

The Private Collection of Artists Wolf Kahn and Emily Mason totals $8,712,000

press.christies.com

The Private Collection of Artists Wolf Kahn and Emily Mason totaled $8,712,000 at Christie's Fields of Vision in New York, with the live auction totaling $8,122,375 and the online sale $589,625; top lot was Georgia O'Keeffe's Autumn Leaf with White Flower selling for $4,950,000. New world auction records were set for Wolf Kahn (Down East Sunset I) and Emily Mason (Aquifer). Proceeds benefit the Wolf Kahn | Emily Mason Foundation and the Emily Mason | Alice Trumbull Mason Foundation.

Fine art

This mega-collector bought $100 million worth of art at last week’s auctions, including Basquiat’s $50 million take on the Medicis

news.artnet.com

Jean-Michel Basquiat, Versus Medici (1982), sold for $50.3 million at Sotheby’s, bought by Wynn Fine Art. The sale week total exceeded $100 million for Steve Wynn, with purchases including Vincent van Gogh, Le Pont de Trinquetaille (1888) for $37.4 million and Andy Warhol, Two Marilyns (Double Marilyn) (1962) for $15.8 million at Christie’s, while Wynn sold other works. The article notes Wynn’s background and Wynn Fine Art’s operations.

Fine art

Basquiat leads Christie’s HK sale to HKD 1.3 billion hammer total

artnews.com

Jean-Michel Basquiat, Untitled (One Eyed Man or Xerox Face), 1982, led Christie’s Hong Kong 20th and 21st century art evening sale. The auction achieved HKD 1.3 billion ($170.6 million, $204.2 million with premium) on 72 lots with a 97 percent sell-through, while Xu Beihong’s Slave and Lion (1924) failed to sell at HKD 350 million ($45 million).

Fine art

Christie’s Hong Kong auction week opens with a $204 million evening sale led by a Basquiat

news.artnet.com

The Christie’s Hong Kong sale generated $204 million (HK$1.6 billion) across 74 lots, with Basquiat’s Untitled (One Eyed Man or Xerox Face) (1982) selling for $30.2 million. Other top lots included Zhang Daqian’s Temple at the Mountain Peak, Sanyu’s Potted Chrysanthemums, and Zao Wou-ki’s 24.1.63, among works by Ghenie, Picasso, Nara, and Banksy.

Fine art

RESULTS | 20th and 21st Century Art Evening Sale totalled HK$1,585,290,000 / US$205,138,773

press.christies.com

Jean-Michel Basquiat and Zhang Daqian works headline the sale, with Basquiat's Untitled (One Eyed Man or Xerox Face) realising HK$234,290,000 / US$30,317,362 and 97% sold by lot. The sale totalled HK$1,585,290,000 / US$205,138,773 and featured 11 new artist records including Avery Singer, Ronald Ventura, Christine Ay Tjoe, Loie Hollowell, MADSAKI, Huang Yuxing, Kim Tschang-Yeul, Yeung Tong Lung, Izumi Kato, Chen Fei, and Kohei Nawa.

Fine art

Christie’s Market Update: Andy Warhol: Machine Made - Sale of 5 Unique NFTs Totals $3.38M - Christie's

Christie’s

Christie’s documents the market development behind Andy Warhol: Machine Made - Sale of 5 Unique NFTs Totals $3.38M - Christie's. Its account reports that nEW YORK — Marking another significant moment for the growing market for NFTs and digital art, Christie’s sale of Andy Warhol: Machine Made on behalf of The Andy Warhol Foundation for the Visual Arts achieved a combined total of $3,377,500.

Fine art

Phillips Announces Additional Highlights from Hong Kong-Beijing Dual-Location 20th Century & Contemporary Art & Design Sales in Collaboration with Poly Auction

Phillips

Phillips’s preserved release documents Phillips Announces Additional Highlights from Hong Kong-Beijing Dual-Location 20th Century & Contemporary Art & Design Sales in Collaboration with Poly Auction and details the principal works, sale terms, or market results.

Fine art

Phillips to Offer Bitchcoin by Artist Sarah Meyohas

Phillips

Phillips’s preserved release documents Phillips to Offer Bitchcoin by Artist Sarah Meyohas and details the principal works, sale terms, or market results.

Fine art

Christie’s Market Update: 20th and 21st Century Evening Sales surpass $691 million, driven by Picasso and Basquiat

Christie’s

Christie’s documents the market development behind 20th and 21st Century Evening Sales surpass $691 million, driven by Picasso and Basquiat. Its account reports that ‘We saw strong results for the masterpiece market tonight.

Fine Art

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