Displaying items by tag: Andy Warhol

Designed by Renzo Piano, the museum that houses the collection of John de Menil and Dominique de Menil opened to the public 25 years ago. A sold-out gala is being held tonight, November 29, to celebrate. The fete has raised $2.2 million, exceeding its $1.5 million goal. This is only the third gala held by the Menil Collection as the institution already boasts an endowment of approximately $200 million thanks to support from the board, donors, and corporate sponsors.

The theme of the night will be “Celebration in Blue,” a tribute to Yves Klein, an important figure in post-war European art and a personal friend of the Menils. Among the 700 guests will be Pablo Picasso’s grandson, Bernard Ruiz-Picasso, philanthropist Agnes Gund, president emerita of the Museum of Modern Art, and hedge fund chief John D. Arnold.

A silent auction will also be held at the gala. The 31 lots include works by Ed Ruscha, Olafur Eliasson, and Richard Serra. Proceeds will support operations and exhibitions. The museum plans to expand their contemporary art collection and hope to build the Menil Drawing Institute to house and exhibit modern and contemporary works.

The free museum features over 15,000 paintings, sculptures, prints, drawings, photographs, and rare books from the 20^th century, all of which were once part of the Menils extensive private art holdings. Included in the impressive collection are works by Paul Cezanne, Mark Rothko, Andy Warhol, Rene Magritte, Max Ernst, Henri Matisse, Pablo Picasso, and Jackson Pollack.

Phillips de Pury & Company’s Contemporary art auction took place on November 15 in New York and garnered $79,904,500, a seemingly humble amount compared to the $887.5 million auction powerhouses Sotheby’s and Christie’s collectively raked in just days earlier.

A smaller scale auction house than its counterparts, Phillips de Pury offered 37 works, many of which were by younger emerging artists. Dan Colen, Tauba Auerbach, Rashid Johnson, and Sterling Ruby all hit record prices, but the top lot of the night was Andy Warhol’s portrait of Mao Zedong (1973) that sold for its low estimate of $12 million. Another Warhol portrait, this time of Jacqueline Kennedy from 1964, was being sold by Eli Broad and reached $11 million; it was expected to bring $10 million to $15 million. Jean-Michel Basquiat’s Humidity (1982) sold for $9 million, falling considerably behind its low estimate of $12 million. Another Basquiat, Self-Portrait (1982) fared better and brought $4 million, breaking its high estimate of $3.5 million despite having its authenticity questioned earlier in the day.

The auction total landed in the middle of its pre-sale estimate of $73,620,000-$110,730,000. While the edgier offerings from Phillips continued to sell well, works by more established artists brought less impressive prices. While this could be the result of mediocre quality, it is important to remember that tying up a $1 billion auction week is no easy feat.

On Sunday, November 18, the Baltimore Museum of Art will unveil a major renovation to the contemporary wing that was built in 1994. The space has been under construction since January 2011 and is part of a $24.5 million overhaul that included a new roof, lighting, gallery paint and flooring as well as other structural changes to the Contemporary Galleries. The overarching goal was to modernize the wing, making the entire viewing experience more inviting and fulfilling for patrons.

John Russell Pope, the architect that created the Jefferson Memorial, the National Gallery of Art, and the National Archives, built the Baltimore Museum’s main building in the 1920s. While the Pope building is a structural masterpiece, the Contemporary wing has been regarded as an eyesore for years. Architect Michael Craft oversaw the recent renovation and has done as much as possible to ease the transition from the Pope building into the Contemporary wing.

The Baltimore Museum of Art’s Contemporary collection includes more than 100 objects including paintings, drawings, sculptures, photographs, and moving image works. At the wing’s unveiling, works by Andy Warhol, Jasper Johns, Robert Rauschenberg, and Olafur Eliasson will be on view.

Christie’s Post-War and Contemporary auction edged out Sotheby’s as the blockbuster sale of the week. Profits reached a walloping $412,253,100 on Wednesday night in New York and only six of the 73 lots went unsold. Beating the pre-sale estimate of $289,350,000-$411,800,000, the auction was the second highest grossing in Christie’s history. The record is currently held by the November 2006 Impressionist and Modern sale that brought $491.5 million. However, last night’s auction was the highest earning sale for the Post-War and Contemporary category to date.

During the course of the sale seven artist records were set and six works sold for over $20 million. Brett Gorvy, Chairman and International head of Post-War and Contemporary Art said, “We curated the sale around the rich variety of quality works and most coveted artists.” Works by these big name artists proceeded to sell for mind-bogglingly astronomical prices.

Andy Warhol’s iconic portrait of Marlon Brando, titled Marlon, (1966) sold for $23,714,500, Roy Lichtenstein’s interior Nude with Red Shirt (1995) brought $28,082,500, and Franz Kline’s seminal Abstract Expressionist painting, Untitled (1957) sold for a record $40,402,500. Other major sales included Warhol’s 3-D Statue of Liberty (1962) that went for $43,762,500, Mark Rothko’s Black Stripe (Orange, Gold and Black) that sold to a telephone bidder for $21,362,500, and Jeff Koons’ stainless steel Tulips (1995-2004) that brought $33,682,500, a new record for the artist. Jean-Michel Basquiat’s Untitled (1981) was expected to bring in big numbers and did not disappoint at $26,402,500, but the piece stayed under its high estimate of $30 million.

Contemporary sales continue tonight at Phillips de Pury.

The Contemporary art auction that took place at Sotheby’s Tuesday night made up for any disappointment stemming from last week’s Impressionist and modern art sale. Profits from the Contemporary sale reached $375.1, the highest total for any auction in Sotheby’s history. The previous record of $362 million was set in May of 2008.

The biggest sale of the night, Mark Rothko’s No. 1 (Royal Red and Blue) (1954) stirred up some competition and ended up selling to a telephone bidder for $75.1 million after the auction house’s fees. Other impressive sales included Jackson Pollack’s Number 4, 1951 that brought $40.4 million with fees, a record for the artist, and Francis Bacon’s Untitled (Pope) (1954) that sold for $29.7 million with fees. A number of high-quality works on paper by Andy Warhol also sold well. Green Disaster (Green Disaster Twice) (1963) sold to newsprint tycoon, Peter Brant, for $15.2 million and Suicide sold to the Manhattan art dealer, Philippe Ségalot, for $16.3 million, a record for a Warhol work on paper.

Out of 69 works offered at the auction, only 11 went unsold.

After a monumental postwar and contemporary auction that totaled $386 million this past spring, Christie’s expects an even bigger sale this November. Taking place November 14–15 in New York, the auction house estimates that the Post-War and Contemporary Art Sale could garner more than $441 million.

The 74-lot evening auction includes Andy Warhol’s Statue of Liberty canvas expected to bring in around $35 million and one of his silkscreens of Marlon Brando estimated at $15-$20 million. Other major draws include Jeff Koons’ balloon tulips for $25 million, a Rothko painting for $15-$20 million, and works by market darlings Alexander Calder, Gerhard Richter, Franz Kline, Ellsworth Kelly, and Jasper Johns. Jean-Michel Basquiat’s Untitled (1981) is expected to set records for the artist with an estimate of $20 million.

Christie’s has already brought in $928 million in contemporary art sales this year.

Six years ago wholesale powerhouse, Costco, stopped selling fine art amid allegations that two Picasso drawings sold on their online store were fakes. The company recently decided to give the venture another go adding “Fine Art” as a category in their “Home & Décor” section. Nestled between “Bathroom,” “Bedding,” and “Kitchen & Dining,” the foray into the art market seems to be going well. In the past two weeks or so, 8 out of the 10 have sold including a framed screen print by Andy Warhol for $1,450 and a framed lithograph by Henri Matisse for $1,000.

The works are supplied by Greg Moors, an art dealer based in San Francisco who provided Costco with art when they first launched the department in 2003. Driven by the notion of financially accessible art, Moors dismissed the peculiarity of a discount warehouse store selling fine art. In fact, this practice is not exclusive to Costco. Between 1962 and 1971, Sears sold over 50,000 works by such artists as Picasso, Rembrandt, Chagall, and Whistler as part of the Vincent Price Collection of Fine Art. Customers could even buy works on layaway.

Although he did not supply the store with the questionable Picassos, Moors is very careful about what is available via Costco. Most of the works are unsigned to avoid questions about the signatures’ authenticity. He is also attempting to sell the works of more living artists and is avoiding artists who are known to have a proliferation of fakes circulating in the art market.

Peter Brant, chairman and chief executive officer of the White Birch Paper Co., has fallen from billionaire status and is turning to his contemporary art collection to help recapitalize the family newsprint business. An early patron of Andy Warhol, Brant recently pledged 56 works to the lending arm of Sotheby’s including works by Warhol, Richard Prince, and Jean-Michel Basquiat. Brant also pledged pieces to a unit of the Deutsche Bank AG and his former business partner, including a Warhol from the early 1960s that is said to be worth around $35 million.

Ranked as one of the largest contemporary art collectors in the United States, Brant joins a number of wealthy collectors who have started taking out loans backed artworks to fund their ventures. It is rumored that Brant used his art collection to provide some of the capital needed to buy White Birch out of bankruptcy in 2011.

According to an annual report, Sotheby’s Financial Services provides consignment loans secured by artworks that borrowers have agreed to sell through the auction house, permitting them to get some of the proceeds as much as a year ahead of time. The auction house also makes term loans on works that clients aren’t planning to sell in order to solidify relationships with borrowers that will hopefully lead to future consignments.

The Andy Warhol Foundation for the Visual Arts and Christie's jointly announced today that the Foundation has engaged Christie's for future sales of Andy Warhol's work from its collection. Recognizing that the arts community needs its support now more than ever, the Foundation seeks to significantly increase its endowment in order to ensure and expand its long-term support of the visual arts. Toward this goal, Christie's will conduct phased sales over a period of years using multiple platforms, including single artist live auctions, private sales and continuing online auctions, bringing a wide range of Warhol's art - much of which has never before been seem by the public at large - to existing as well as new collectors worldwide. At the same time, the Foundation also plans to mark its 25th Anniversary by making additional gifts of significant works to museums, continuing its long history of donating Warhol's art.

The Andy Warhol Foundation for the Visual Ats was created at the late artist's direction for the purpose of advancing the visual arts. Since its founding in 1987, the Foundation has pursued that mission by making nearly $250 million in grants to hundreds of museums and non-profit arts organization nationwide; through grants made to individual artists and arts writers through its sister foundation Creative Capital; and through the Andy Warhol Museum, which it founded and endowed with a permanent collection of nearly 4,000 iconic artworks as well as with archival materials.

Picasso’s lovers, Richard Serra's steel and Andreas Gursky’s yacht-studded Monaco are the highlights of a $130 million trove Gagosian Gallery is taking for its first expedition to Brazil next month.

The occasion is the second annual ArtRio in Rio de Janeiro, a fair spread over 7,500 square meters (80,730 square feet) in four warehouses on Guanabara Bay. It will feature 120 galleries, including David Zwirner and White Cube, as well as events hosted by Christie’s and Sotheby's. The size and participants reflect a growing interest in the world’s sixth-largest economy.