Annual archive

2002 fine-art market intelligence

97 headlines · 12 months

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Highlights

Fine art

Much More Than Fifteen Minutes

artnews.com

The page reports on Sotheby’s contemporary-art auction in London where Gerhard Richter’s 180 Colors set an auction record at $2.9 million, and Andy Warhol’s Little Electric Chair from the Disaster series sold for $2.3 million, far above its high estimate. The sale drew a standing-room-only crowd and featured anonymous phone bids; notable figures include Matthew Carey-Williams and Stellan Holm, with former dealer Ivan Karp referenced in context.

Fine art

First public sight of Monet in 113 years

independent.co.uk

Claude Monet painting Prairie de Limetz, 1888, seen publicly after more than a century; part of a collection including Renoir Le Premier Pas, ahead of New York exhibition and London auction. The Monet work has a notable provenance linking to Theo van Gogh and private sale until 1950.

Fine art

Bacon paintings expected to raise a million

irishexaminer.com

Francis Bacon paintings Man In Blue VII, Head, and Portrait of Man with Glasses IV are listed for auction at Christie’s in London and are anticipated to raise over £1m (€1.4m). The article notes Bacon’s later works and his posthumous rising reputation, including a 1954 work and other pieces described as among his darker, angst-ridden canvases.

Fine art

SFMOMA acquires six Frank Stella works

sfgate.com

The San Francisco Museum of Modern Art has acquired six major works by American painter Frank Stella, donated by gift and partial purchase from Peninsula collectors Harry W. and Mary Margaret Anderson. The works include early pieces such as Polk City (1963) and Zambezi (1959); five of the works will eventually be on public view at Quadrus in Menlo Park, while one is to be hung in the museum. The total appraised value is described as likely in the seven figures, though the museum declines to estimate exact value.

Fine art

Post-War and Contemporary sale report where have all the Warhols gone

theartnewspaper.com

The Art Newspaper reports on record prices for works by Andreas Gursky, Peter Doig, Luciano Fabro and Douglas Gordon during a post-war and contemporary sale in London, noting a surprising lack of Warhol consignments. Christie’s and Sotheby’s are highlighted for their respective strategies and results, including a new auction record for Peter Doig and the top price for Gerhard Richter, with discussion about a perceived diminished supply of Warhol works.

Fine art

Faberge egg sold for record $9.58 million at Christie’s

upi.com

The Winter Egg, one of a limited number of imperial Faberge eggs, sold at Christie’s for $9,579,500 to an unidentified private collector, setting a world record for a Faberge work. The sale was part of a larger auction of works from Carl Faberge and the Forbes collection, with the Forbes material totaling $5,927,476.

Fine art

Spring art auctions show market strength

upi.com

The article reports that spring sales of Impressionist and modern works at Christie's and Sotheby's totaled $223.6 million, with Brancusi's Danaide selling for $18.1 million at Christie’s and Paul Cezanne's Pitcher and Plate of Pears selling for $16.7 million at Sotheby’s. Gauguin’s Tahitian Women Near the Palms failed to meet its $15 million estimate, selling for $11.5 million.

Fine art

Jean-Michel Basquiat continues upward trajectory in sales and at auction

theartnewspaper.com

Jean-Michel Basquiat is discussed in relation to recent press coverage and the sale of Lars Ulrich's collection including Basquiat’s selling performance. The article notes Basquiat’s rising prices following his 1988 death and mentions Hamiltons gallery’s upcoming show of eight major paintings and works on paper.

Fine Art

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