Displaying items by tag: Christie's

Christie’s will be holding an online-only auction of works by Andy Warhol (1928-1987) from February 26 through March 5, 2013. The sale, which aims to grant a broader audience the chance to own a Warhol original, will benefit the Andy Warhol Foundation for the Visual Arts.

125 paintings, drawings, photographs, and prints by Warhol, an art market powerhouse, will be available. The works feature a wide range of pre-sale estimates, spanning from $600 to $70,000. The online format allows interested buyers to browse available works, make bids, and receive notifications by phone or email about the sale and status of their bids.

Although this is Christie’s first online-only Warhol sale, the auction house will be hosting more throughout 2013 as part of an ongoing partnership with the Warhol Foundation. The weeklong digital sale marks the first time Christie’s has ever offered online-only Post War and Contemporary art sales.

Highlights from Christie’s online sale include one of Warhol’s famous Campbell’s soup cans filled with concrete (circa 1964), four gelatin silver prints of Steven Spielberg stitched together (circa 1976-1986), and a graphite on paper drawing titled Madonna and Child (circa 1981).

Paris’ legendary Ritz hotel, which is currently undergoing a major $267.5 million renovation, has been unknowingly sheltering a 17^th century masterpiece. The work, which is believed to be by the French painter and court artist of Louis XIV, Charles Le Brun (1619-1690), was first spotted by Olivier Lefeuvre, a specialist in the period at Christie’s France. Upon seeing the painting in July, a month before the Ritz closed its doors for two years worth of renovations, Lefeuvre knew that the work had to be a Le Brun. Initials reading “CLBF,” which stands for Charles Le Brun Fecit (Le Brun did this) and a date, “1647,” were found on the work, supporting Lefeuvre’s hunch.  

How the painting ended up in the Ritz remains a mystery, as the hotel archives lack any reference to the work. While Christie’s has been unable to track down any record of the painting, officials have no doubt that the work is an authentic Le Brun. The painting, which depicts the killing of Trojan princess Polyxena after she was linked to the death of Achilles, was renamed The Sacrifice of Polyxena by Christie’s.

The Le Brun painting will be auctioned by Christie’s in Paris in April 2013 and could raise as much as $665,000 for the foundation established by owner Mohamed Al Fayed in memory of his son Dodi, the late boyfriend of Princess Diana. Dodi and Diana dined at the Ritz before their fatal car accident in 1997.

The painting will go on display at Christie’s New York location next week.

Following Simon de Pury’s departure from the auction house Phillips de Pury & Co. on December 21, 2012, the company is in the midst of a number of changes. Upon de Pury’s exit after 12 years with the company, the auction house has reverted to its original name, Phillips, and has plans to develop its New York and London locations.

Phillips, which specializes in contemporary art, design, photography, and limited edition prints, will expand their salesrooms in order to compete with bigger auction houses such as Sotheby’s and Christie’s. In February 2013, 11,500 square-feet of offices and 10,000 square-feet of gallery space will be added to the company’s headquarters on Park Avenue in Manhattan.

Last year, Phillips purchased a 52,000 square-foot building in London’s Berkeley Square. The auction house plans to turn the seven-story structure into their London headquarters, which will resemble the company’s Manhattan office. Rumors have circulated that Phillips also purchased space in London’s Mayfair district, but officials have declined to comment.

On February 6 in London, a painting by the Italian artist Amedeo Modigliani (1884-1920) will lead Christie’s Impressionist and Modern Art Sale. Painted in 1919, Jeanne Hebuterne (au chapeau) is a portrait of Modigliani’s common-law wife seated in a wooden chair wearing a black hat and dress, illustrating the elongated form he is known for.

While Modigliani is one of Europe’s highest-selling modern artists, the market for Impressionist and modern art has slowed lately due to a lack of exceptional works in circulation. However, the upcoming sale at Christie’s is expected to bring as much as $237 million with the Modigliani portrait selling for as much as $35.5 million.

Jeanne Hebuterne appeared in a posthumous Modigliani retrospective in Venice in 1922. The portrait was bought from Sotheby’s, London for $26.4 million by a New York collector who is now putting it up for sale.

American pop artist Andy Warhol (1928-1987) brought $380.3 million in sales in 2012, exceeding Chinese ink painter Zhang Daqian (1899-1983) as the world’s highest seller at auction. Warhol also surpassed modern master Pablo Picasso (1881-1973) and Gerhard Richter (b. 1932), who holds the record for top living artist at auction.

Warhol’s all-time sales reached $2.9 billion while Picasso, who is regarded as the world’s costliest artist at auction, hit $5 billion. Picasso’s total auction sales for 2012 were down to $334.7 million from $366 million. Officials blame lack of supply for the dip in Picasso sales; while works by Picasso remain in demand, there are currently fewer exceptional pieces on the market. Daqian took an even harder hit than Picasso, slipping from $782.4 million at auction to $241.6, most likely the result of the economic and political uncertainty that pervaded China in 2012, which affected the international demand for Chinese art.

The restructuring that occurred last year knocked Daqian from first to fourth place in terms of selling power, a reflection of the increased demand for western postwar and contemporary works in the art market. A testament to contemporary art’s dominance, auctions in that category raising a record $1.1 billion in November 2012 through sales at Sotheby’s, Christie’s, and Phillips de Pury & Co.

Christie’s announced that Americana Week 2013 will be held from January 24-25 and on the 28^th in New York. The week will include a series of public viewings and auctions focusing on American craftsmanship and artistry. An Important American Silver sale will be held on the 24^th, an Important American Furniture, Folk Art, and Prints auction will take place on January 25^th, and on the 28^th, Christie’s will hold English Pottery and Chinese Export Art sales. The Americana Week auctions will present over 400 lots, many of which are from the 18^th and 19^th centuries and have never been offered at auction until now.

Highlights from the American Silver auction include a drum-form teapot by Paul Revere (1734-1818), a Japanesesque mixed-metal and hardstone style tea service by Tiffany & Co., and a set of silver casters by Simeon Soumaine (circa 1685-circa 1750) from 1740.

Leading the American Furniture, Folk Art, and Prints sale is a Chippendale carved mahogany block-and-shell bureau table signed by John Townsend (1733-1809). The bureau table will be offered alongside a Queen Anne carved maple armchair attributed to John Gaines III (1704-1743), an Edward Hicks (1780-1849) painting depicting William Penn’s treaty with Delaware tribal chiefs, a number of early needlework samplers from The Stonington Collection, and much more.

The English Pottery auction presents over 50 lots including early salt glazed stoneware, redware and creamware formed by William Burton Goodwin, and a London delft polychrome dish, which is painted with the biblical story of Abraham and Isaac.

Highlighting the Chinese Export Art sale are a Chinese export ‘orange Fitzhugh’ armorial dinner service from the early 19^th century, a pair of Chinese export famille rose fishbowls, and a Chinese export ‘Lady Washington States China’ dish, which was presented to Martha Washington by Andreas van Braam (1739-1801), the director of the Dutch East India Company, in 1796. Van Braam designed the dish as an introductory gift for the First Lady.

When Jane Cordery, an art teacher in Hampshire, England discovered a portrait of a white owl in her attic, she was struck by the painting’s sophisticated brushwork. Upon her unearthing, Cordery decided to email a photo of the work to Christie’s in London.

The auction house determined that the painting, titled The White Owl (1856) was the work of pre-Raphaelite artist William James Webbe (fluent 1953-1878) and valued the painting at $113,449. Further research proved that The White Owl had been exhibited at the United Kingdom’s Royal Society during the mid-nineteenth century. It was here that famed art critic, John Ruskin, viewed the work and remarked on its painstaking composition.

The Webbe painting headed to Christie’s Victorian art sale last week and sold for $951,050, exceeding its estimated price and setting the record for the artist at auction. An anonymous British dealer purchased The White Owl at the Christie’s sale. While Cordery claims she had never seen the painting before, her partner said that he received the work as a gift from his mother.

England’s British Empire and Commonwealth Museum, which closed in 2008, is in hot water after nearly 150 works that were lent to the museum while it was still open have been deemed missing. To make matters worse, a number of the pieces were sold at auction without their owners’ permission.

Most of the museum’s collection has been turned over to the Bristol city council, which is carrying out a full audit. In addition, trustees of the museum are in negotiations with the eight displeased owners to work out compensation agreements. While no arrests have been made, trustees of the museum have been involved in an ongoing dispute with the former director, Gareth Griffiths, over the missing works.

Among the 144 works that have disappeared is a nineteenth-century oil painting belonging to Lord Caldecote. Caldecote’s father, a well-known engineer and industrialist, lent the work by maritime master, Thomas Buttersworth, to the museum. After his father’s death, Caldecote asked for the painting to be returned. Sadly, the painting’s whereabouts are unknown as Christie’s sold it for almost $100,000 back in 2008.

There are no reports of personal profits from the sales and it is believed that the mix-up occurred because it was unclear whether objects had been given to the museum or were there on loan.

The British Empire and Commonwealth Museum opened in 2002 and aimed to tell the story of Britain’s colonial past through objects. While the institution was initially lauded, it was unable to attract enough visitors to keep it afloat. Plans to move the museum to London were scrapped after the country fell on tough economic times.

The back-to-back American art auctions that took place at Christie’s and Sotheby’s this week both garnered impressive numbers. The auction at Christie’s on November 28 set the bar high when it reached $38,469,650 in sales. However, Sotheby’s followed up strong and achieved a total sale of $27,608,500, exceeding the high estimate of $24,158,000. Franklin Riehlman, owner of Franklin Riehlman Fine Art in New York City said, “Prices at Sotheby’s were nice and strong. Christie’s had a phenomenal sale and Liz Sterling has done a wonderful job reconstructing the department.” Elizabeth Sterling was appointed the head of American art at Christie’s earlier this year.

The top lot at Christie’s was Edward Hopper’s October on Cape Cod (1946), which went for $9.6 million and set a new record for the most expensive item sold to an online bidder. The oil painting, which features a house and small barn from a distance, is one of the last works by Hopper remaining in private hands. Other solid sales were Charles Burchfield’s Golden Dream (1959), which brought $1,202,500; Stuart Davis’ City Snow Scene (1911), which also reached $1,202,500; and Martin John Heade’s Hummingbird Perched on the Orchid Plant (1901), which brought $1,802,500.

Georgia O’Keeffe fared well at both auctions and took the top two lots at Sotheby’s; both plant paintings, Autumn Leaf II (1927) realized $4,282,500 and A White Camellia (1938) brought $3,218,500. “O’Keeffe did very well,” said Riehlman. “There was a lot of bidding.” An O’Keeffe painting titled Sun Water Maine (1922) also reached the second highest price at Christie’s when it realized $2,210,500, exceeding the high estimate of $1,500,000.

Norman Rockwell continued to perform well at Sotheby’s and two paintings exceeded their high estimates when The Muscleman (1941) sold for $2,210,500 (high estimate: $800,000) and Doctor and Doll (1942) reached $1,874,500 (high estimate: $700,000). Other impressive sales included Alfred Jacob Miller’s Caravan En Route [Sir William Drummond Stewart’s Caravan] (circa 1850), which went for $1,762,500 and Arthur Dove’s Town Scraper (circa 1933), which realized $1,258,500.

“The market for early modernists seems very strong,” said Riehlman. “Older works didn’t do as well. Cassatt and Prendergast are spotty, but 15 years ago every Cassatt would have sold.” Out of the one Mary Cassatt work offered at Sotheby’s and two present at Christie’s, not a single piece sold. Similarly, Maurice Prendergast’s one painting offered by Sotheby’s, Park Street Church, Boston (circa 1905-07), failed to sell and at Sotheby’s, Picnic Party (circa 1900-03) didn’t quite reach its low estimate of $300,000 when it sold for $290,500 and New Hampshire (circa 1910-13) just broke its low estimate of $40,000 when it realized $43,750.

“Both houses are being very selective in terms of traditional 18^th and 19th century materials,” said Riehlman. Buyers are much more likely to make significant purchases when the majority of works are top-quality. Despite the declining interest in older works, there was a lot of action at both sales. Riehlman was planning on buying Marvin Cone’s Stone City Landscape (1936), which realized $752,500, a record for the artist. “It went like a freight train right by me,” he said, a testament to just how eager buyers were this week.  

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.