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May 2023 fine-art market intelligence

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Category: Fine art

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Fine art

Masterpieces from the S.I. Newhouse Collection and 20th Century Evening Sale total $506,571,600

press.christies.com

The S.I. Newhouse Collection totaled $177,792,000 and the 20th Century Evening Sale totaled $328,779,600, with highlights including Francis Bacon’s Self-Portrait ($34,622,500) and Willem de Kooning’s Orestes ($30,885,000). The top lot was Henri Rousseau, Les Flamants ($43,535,000), and other notable works included Picasso’s Nature morte à la fenêtre ($41,810,000), Ed Ruscha’s Burning Gas Station ($22,260,000), Georgia O’Keeffe’s Black Iris VI ($21,110,000), and David Hockney’s Ea…

Fine art

Henri Rousseau’s Les Flamants Sets auction record at Christie’s for $43.5 million

observer.com

Henri Rousseau’s Les Flamants (1910) sold for $43.5 million at Christie’s 20th Century Evening Sale, setting a new auction record. The painting previously held the record at $4 million for Portrait of Joseph Brummer (1993). Other works by Degas, Renoir, Hockney, O’Keeffe, Picasso, and Matisse were featured in the sale.

Fine art

Post-War & Contemporary Art Day Sale Totals $80,449,990

press.christies.com

The post-war & contemporary art day sale at Christie’s New York on May 15, 2023 achieved $80,449,990, with a 90% sold by lot and 92% by value, contributing to a running total of $587,021,590. The top lot was Jackson Pollock, Number 28, 1949, which sold for $6,705,000. Other notable prices included Joan Mitchell Untitled at $5,132,000 and Helen Frankenthaler Genuine Blue at $3,317,000.

Fine art

21st Century Evening Sale totals $98,802,500

press.christies.com

Jean-Michel Basquiat’s El Gran Espectaculo (The Nile) sold for $67,110,000, the top lot. The sale total was $98,802,500 with 96% sold by lot and 123% hammer against low estimate. Several artist records were set, including for Robin F. Williams, Simone Leigh, Danielle McKinney, Rebecca Ackroyd, Diane Arbus, as well as for Vojtěch Kovařík, El Anatsui, Peter Saul, and William Eggleston.

Fine art

Basquiat painting sells for $67 million during a sleepy Christie’s sale

artnews.com

Jean-Michel Basquiat painting El Gran Espectaculo (The Nile), 1983, discussed in the Christie’s contemporary art sale context. The article notes the sale results at Christie’s, including a larger sale total of $98.9 million with buyer’s fees, and mentions other artists such as Louis Fratino, Barbara Kruger, Jeff Koons, Yayoi Kusama, Danielle Mckinney, Peter Saul and Diane Arbus. It also covers two Basquiat and Kusama lots backed by guarantees and discusses market sentiment and potential corrections observed by ARTnews.

Fine art

Christie’s 20th Century Evening Sale tops with Rousseau painting, Picasso still life leads after record-setting proceeds

rehs.com

The Christie’s 20th Century Evening Sale in New York featured 54 lots, with Les Flamants by Henri Rousseau leading the auction at $37.5 million (/$43.54 million with buyer’s premium) after a $20–$30 million estimate. Pablo Picasso’s Nature morte à la fenêtre (1932) followed, coming from Jan Krugier’s collection. The sale drew on holdings from the Paul Allen collection and other notable owners and included provenance tying to the Whitney family and Elsa von Mendelssohn-Bartholdy, among others.

Fine art

Women dominated Christie's 21st Century Evening Sale, setting multiple artist records, including Basquiat top lot

observer.com

Danielle McKinney and Rebecca Ackroyd each set artist records at Christie’s 21st Century Evening Sale, which featured works by Simone Leigh, Diane Arbus, Robin F. Williams and others. Jean-Michel Basquiat’s El Gran Espectaculo sold for $67 million to top the sale, while other notable results included Leigh’s bronze and Arbus’s photographs. New artist records were also set by Vojtech Kovarik, El Anatsui, Peter Saul and William Eggleston.

Fine art

Sotheby’s modern sale yields $427 million amid a sober market, reports Artnet News

news.artnet.com

The article reports Sotheby’s two back-to-back modern art auctions totaling $427 million, led by Gustav Klimt’s landscape at $53.2 million. Auctioneer Oliver Barker guided bidding amid withdrawals and reduced reserves, with commentary from art dealer Ray Waterhouse and Fine Art Group founder Philip Hoffman.

Fine art

Correction in Motion? Christie’s first sale of Gerald Fineberg’s collection pulls in $153 million, falling short of presale estimates

news.artnet.com

Gerald Fineberg’s collection sold at Christie’s in New York for $153 million, below its presale estimate of $163–235 million. The hammer total was $124.7 million with a 91 percent sell-through, and 65 lots were offered. Christophe Cerutti comments quoted regarding market conditions.

Fine art

Christie’s Gerald Fineberg auction generates $153 million despite tepid sales

artnews.com

Christie’s Gerald Fineberg auction generated $153 million in sales, with several works selling below or near estimates and some unsold; top lot was Christopher Wool’s Untitled (1963) which sold for $8.4 million, far below its $15–20 million estimate.

Fine art

$53 M Gustav Klimt leads Sotheby’s $427 M Two-Part Evening Sales in New York

voicecyprusnews.com

Gustav Klimt and Pablo Picasso are among the artists mentioned in the Sotheby’s two-part evening sales that totalled $427 million in New York. The Ostin collection included works by Jean-Michel Basquiat and Joan Mitchell, with several pieces backed by third-party guarantees or irrevocable bids.

Fine art

Museums and collectors in Asia make major acquisitions at the New York sales

sothebys.com

The article reports Sotheby’s New York Sales totaling $799 million, highlighted by top lots including Gustav Klimt Insel im Attersee ($53.2 million), René Magritte L’Empire des lumières ($42.3 million), and Codex Sassoon ($38.1 million); notable emphasis on works by women artists and artists of color, with a focus on The Mo Ostin Collection and other notable collections.

Fine art

Louise Bourgeois’s record-breaking $32.8m Spider tops Sotheby’s contemporary sale

theartnewspaper.com

Louise Bourgeois’s Spider sold for $32.8m with fees at Sotheby’s contemporary sale. The Now sale realized $30m (or $37.1m with fees) as part of a double-header auction that produced a combined hammer total of $175.8m for 46 lots sold (up to $204.6m with fees). Six artist records were set across the sale, including Justin Caguiat, Jadé Fadojutimi, and Nicole Eisenman with Night Studio (2009).

Fine art

Palm Beach art dealer sentenced to over two years in prison for blue-chip art fraud scheme

usaartnews.com

Daniel Elie Bouaziz, who owned Danieli Fine Art and Galerie Danieli in Palm Beach County, was sentenced to 27 months in federal prison followed by three years of supervised release for laundering money from the sale of counterfeit works by blue-chip artists including Andy Warhol, Jean-Michel Basquiat and Roy Lichtenstein; he was also fined $15,000. The case involved selling reproductions as originals and using fake invoices and provenance documents.

Fine art

Palm Beach art dealer sentenced to more than two years in prison for blue-chip art fraud scheme

theartnewspaper.com

Daniel Elie Bouaziz pleaded guilty to selling counterfeit art and was sentenced to 27 months in federal prison, followed by three years of supervised release. He owned Danieli Fine Art and Galerie Danieli in Palm Beach County and engaged in interstate commerce of more than $10,000 from the sale of counterfeit works by artists such as Andy Warhol, Jean-Michel Basquiat and Roy Lichtenstein, often using fake invoices and provenance documents.

Fine art

Francis Bacon to be the first artist traded on ARTEX MTF

thetimesofuae.com

Francis Bacon is the subject of the first artwork to be admitted to trading on ARTEX MTF, a 1963 oil on canvas triptych titled Three Studies for a Portrait of George Dyer. The work belongs to a series of five Dyer portrait triptychs and previously sold at auction in May 2017 for nearly $52 million; it will be offered to investors starting around $55 million. The listing is managed by Art Share 002 S.A., a Luxembourg-registered issuer.

Fine art

Christie’s Market Update: ["CHRISTIE'S 3.0 SALE JACK BUTCHER: CHECKS ELEMENTS –THIS ARTWORK MAY OR MAY NOT BE NOTABLE TOTALS 50.10 ETH - Christie's", "CHRISTIE'S 3.0 SALE JACK BUTCHER: CHECKS ELEMENTS –THIS ARTWORK MAY OR MAY NOT BE NOTABLE TOTALS 50.10 ETH"]

Christie’s

Christie’s documents the market development behind ["CHRISTIE'S 3.0 SALE JACK BUTCHER: CHECKS ELEMENTS –THIS ARTWORK MAY OR MAY NOT BE NOTABLE TOTALS 50.10 ETH - Christie's", "CHRISTIE'S 3.0 SALE JACK BUTCHER: CHECKS ELEMENTS –THIS ARTWORK MAY OR MAY NOT BE NOTABLE TOTALS 50.10 ETH"]. Its account reports that nEW YORK – May 23, 2023, Christie’s 3.0 closed Jack Butcher: Checks Elements – This artwork may or may not be notable, an auction comprised of three digital artworks – ‘Alpha’ elements Earth, Air, and Water.

Fine art

Christie’s Market Update: ["A CENTURY OF ARTTHE GERALD FINEBERG COLLECTIONPART I EVENING SALE TOTALS $153,053,300 - Christie's", 'A CENTURY OF ARTTHE GERALD FINEBERG COLLECTIONPART I EVENING SALE TOTALS $153,053,300']

Christie’s

Christie’s documents the market development behind ["A CENTURY OF ARTTHE GERALD FINEBERG COLLECTIONPART I EVENING SALE TOTALS $153,053,300 - Christie's", 'A CENTURY OF ARTTHE GERALD FINEBERG COLLECTIONPART I EVENING SALE TOTALS $153,053,300']. Its account reports that new York – Christie’s continued its 20th and 21st Century Spring Marquee Week auctions with a strong showing for A Century of Art: The Gerald Fineberg Collection Part I, a result that confirmed the prescient taste and sensitive eye of one of the great collectors of last half century.

Fine art

Phillips’ Day Sale of 20th Century & Contemporary Art Realizes $38.7 Million, the Second Highest Day Sale Total in Company History

Phillips

Phillips’s preserved release documents Phillips’ Day Sale of 20th Century & Contemporary Art Realizes $38.7 Million, the Second Highest Day Sale Total in Company History and details the principal works, sale terms, or market results.

Fine art

Phillips to Offer Masterworks by Richard Avedon Peter Lindbergh Helmut Newton Diane Arbus and Irving Penn Alongside Ultimate and Spotlight a Private London Collection

Phillips

Phillips’s preserved release documents Phillips to Offer Masterworks by Richard Avedon Peter Lindbergh Helmut Newton Diane Arbus and Irving Penn Alongside Ultimate and Spotlight a Private London Collection and details the principal works, sale terms, or market results.

Fine art

Phillips Unveils Spotlight a Private London Collection in a Dedicated Live Offering in the London Photographs Auction On 19 May

Phillips

Phillips’s preserved release documents Phillips Unveils Spotlight a Private London Collection in a Dedicated Live Offering in the London Photographs Auction On 19 May and details the principal works, sale terms, or market results.

Fine Art

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