Displaying items by tag: Sotheby's

Sotheby’s Contemporary Evening Auction in London totaled $116 million on February 12, 2013. The sale featured a number of works by art market powerhouses such as Francis Bacon (1909-1992), Jean-Michel Basquiat (1960-1988), and Gerhard Richter (b. 1932). Bacon’s oil on canvas triptych Three Studies for a Self-Portrait (1980), which sold for $21.5 million, was the evening’s top lot. German collector, Jurgen Hall, who plans to loan the work to a major international institution, purchased the painting.  

44 of the 54 lots offered sold and over 20 works brought more than $1 million dollars. Highlights included two Richter paintings, Wolke (Cloud) (1976) and Abstraktes Bild (769-1) (1992), which sold for $11.9 million and $12.8 million respectively. Basquiat’s Untitled (Pech/Oreja) (1982-83), a large-scale acrylic, oil stick, and paper collage, went for $10. 7 million and another one of his hefty works, Five Fish Species (1983), sold for $7.8 million. Both works were purchased by New York-based art dealer Jose Mugrabi.

While there were some major sales, the auction fell comfortably within its pre-sale estimate of $95.7 million to $132.2 million. The contemporary auctions will continue tonight, Feburary 13, 2013, at Christie’s London.

The success of Sotheby’s and Christie’s Impressionist, Surrealist, and Modern sales in London this week is proof that the demand for such works is on the rise. On February 6, 2013 Christie’s brought in $214 million worth of sales, just one day after Sotheby’s evening auction garnered $228 million.

The top lot at Christie’s was Amedeo Modigliani’s (1884-1920) portrait of his common-law wife titled Jeanne Hebuterne (au chapeau) (1919). The work, which was completed just one year before Modigliani’s death, sold for $42.1 million to one of Christie’s Russian-speaking client services representatives, who was bidding on behalf of a client. The work significantly surpassed its high estimate of $34.5 million.

Other major sales from Christie’s auction included Rene Magritte’s (1898-1967) landscape Le plagiat (Plagiary) (1940), which sold for nearly $8.2 million, Pablo Picasso’s (1881-1973) Nu accroupi (1960), which went for $11.4 million, and Pierre-Auguste Renoir’s (1841-1919) L’ombrelle (1878), which garnered $15.2 million.

With 89% of lots sold, the sale was a record in the Impressionist, Surrealist, and Modern category by Christie’s in February in the UK.

Pablo Picasso’s (1881-1973) Femme Assise Prés D’une Fenêtre (1932) sold for nearly $45 million at Sotheby’s Impressionist & Modern evening sale on Tuesday, February 5, 2013 in London. The coveted portrait of Picasso’s lover and muse, Marie-Therese Walter, came from a private collection and was last seen on the market in 1997 when it sold for $7.5 million. The portrait was guaranteed to sell due to a third-party “irrevocable bid” and while the buyer remains anonymous, some believe it was the guarantor, represented by Patti Wong, the chairman of Sotheby’s Asia.

The auction, which totaled $190 million, also included a separately catalogued section of 21 Surrealist works. All but three works sold, adding $26 million to the overall sale. Highlights from this section included Joan Miro’s (1893-1983) Femme revant de l’evasion (1945), which sold for $13 million and also carried a third-party guarantee.

Another considerable sale of the night was a series of three drawings by Egon Schiele (1890-1918), which brought $22 million. The works were put on sale by Vienna’s Leopold Museum. Another Schiele work, a pencil, gouache, and watercolor piece completed in 1915, sold to Wong on behalf a client for $13 million.

The sale was Sotheby’s second highest for an Impressionist sale in London.

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.

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.

British art collector, Douglas A.J. Latchford, has spent decades building his reputation as one of the foremost experts in Khmer antiquities. Latchford, a resident of Thailand, was knighted in 2008 by the Cambodian government for admirably returning 14^th-century Khmer artifacts.

In sharp contrast to his previous accolades, Latchford is currently the subject of a civil complaint files by the U.S. attorney’s office. Federal lawyers state that Latchford, referred to in proceedings as “the Collector,” bought a 10^th century Khmer warrior statue known as the Duryodhana in the 1970s knowing that it had been looted from a temple during the Cambodian civil war.

While Latchford denies ever having owned the work, court papers claim that he purchased the statue from a Thai dealer who acquired the work from an organized looting network. Allegedly, Latchford then helped get the piece into Britain by concealing what was actually being shipped. Upon its arrival to the U.K., the auction house Spink & Son sold the statue to a Belgian collector in 1975. The collector’s widow is the Duryodhana’s current owner.

The widow approached Sotheby’s New York in 2010, hoping to sell the 500-pound sandstone statue. However, the sale was put on hold because of objections from the Cambodian government. While lawyers are hoping to return the work to Cambodia, the auction house still plans on selling the treasure, stating that there is no evidence to prove that the statue was looted or that it is the property of the Cambodian government.

Latchford has been collecting Cambodian antiquities for over 55 years and has donated many works to well-known institutions, including the National Museum in Phnom Penh and the Metropolitan Museum of Art. A judge is expected to rule on the Duryodhana case within the next few months.

Los Angeles’ J. Paul Getty Museum purchased a Flemish illuminated manuscript at Sotheby’s for $6.2 million on Wednesday, December 5. The Roman de Gillion de Trazegnies by Lieven van Lathem (1430-1493) consists of eight painted half-page miniatures and 44 historiated initials. Lathem is renowned for his paintings of secular scenes during the Flemish high Renaissance of manuscript illumination. The Roman de Gillion de Trazegnies is considered his finest work from the period.

The major acquisition adds to the Getty’s already phenomenal collection of 15^th century illuminated manuscripts, which includes Lathem’s only documented manuscript, The Prayer Book of Charles the Bold. Acquired in 1989, Prayer Book serves as the main reference for all other Lathem attributions. The purchase of the Roman de Gillion de Trazegnies joins two of the artist’s defining works in one collection – a remarkable feat.

Roman de Gillion de Trazegnies tells the story of the curious adventures of a nobleman from the family of Trazegnies, whose seat was in Hainaut (present-day Belgium). The tale mixes genres including travelogue, romance, and epic and follows the protagonist, Gillion, on a journey to Egypt, where he comes a bigamist and dies in battle as a hero.

The illumination had been on loan for the Getty’s 2003 landmark exhibition, Illuminating the Renaissance.

At Sotheby’s London’s Evening Sale of Old Master & British Paintings on December 5, a rare drawing by Raphael set a new record for the artist at auction. A masterpiece in black chalk, Head of a Young Apostle (circa 1519-20), has been part of the Devonshire Collection at Chatsworth since 1720 and features one of the key figures in the artist’s final work, Transfiguration, a celebrated painting from the Renaissance, which is now in Rome’s Vatican Museum.

Amid a considerable amount of bidding both in the auction room and on the telephone, Head of a Young Apostle sold for $47.8 million, nearly three times the drawing’s low estimate of $16 million to $24 million. Gregory Rubenstein, Worldwide Head of Old Master Drawings at Sotheby’s, said, “A number of the world’s greatest collectors stepped up tonight in recognition of the genius of Raphael and the extraordinary beauty of this drawing.”

The sale proves that the market is still prime for Old Master works. Head of a Young Apostle is one of three exceptional Raphael drawings to appear at auction in the past 50 years; each work has set an all-time sale record for an Old Master drawing. This particular sale is the highest price paid at a European auction in 2012 and is the second highest Old Master sale to date. The first is Peter Paul Rubens’ Massacre of the Innocents, which sold for $76.7 million at Sotheby’s in 2002.

Sotheby’s Old Master sale realized almost $94 million and sold 74.5% by lot.

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.  

Historian and American decorative arts expert, Wendell D. Garrett, died of natural causes on November 14 in Williston, Vermont. He was 83. Garrett was well known for his appearances as an appraiser on the PBS series, “Antiques Roadshow,” which launched in 1997. Garrett participated in every season of the program and will make a posthumous appearance on the show’s next season, which premieres January 7, 2013.

Prior to his work on “Antiques Roadshow,” Garrett served as the senior vice president in the American decorative arts department at Sotheby’s. He also wrote and edited a number of books on antiques including Victorian America: Classical Romanticism to Gilded Opulence (1993), Monticello and the Legacy of Thomas Jefferson (1994), and American Colonial: Puritan Simplicity to Georgian Grace (1995).

Born in Los Angeles in 1929, Garrett attended UCLA where he earned a bachelor’s degree in history. Subsequently, Garrett enrolled at the University of Delaware and received a master’s degree in early American culture from the school’s distinguished Winterthur program. He later earned another master’s degree in American history from Harvard.

Garrett joined the Adams Papers Project at the Massachusetts Historical Society in 1959 where he served as the assistant editor of the Diary and Autobiography of John Adams (1961), a four-volume set that starts with entries from 1755. Garrett is also credited with finding an even earlier Adams diary with entries beginning in 1753. The Earliest Diary of John Adams was published in 1966 with Garrett as associate editor.

Garrett’s three children, four grandchildren, and a brother survive him.