Displaying items by tag: Christie's

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.

Held at Christie’s in New York this past Monday, the first in a series of auctions to benefit the Andy Warhol Foundation for the Visual Arts brought in over $17 million. The sale featured over 354 works by Andy Warhol including prints and photographs. Online auctions will begin this coming February.

Many works exceeded their high estimates including Jackie, a screen print and paper collage of Jacqueline Kennedy that had a high estimate of $300,000 and sold for $626,000 as well as Self Portrait in Fright Wig which was estimated at $12,000-$18,000 and sold for $50,000. The biggest sale of the night was a print featuring a butterfly titled Endangered Species: San Francisco Silverspot that reached over $1.2 million.

Profits from the sale will go towards the foundation’s endowment, and will help the organization to expand their contributions to the visual arts.

Four works by contemporary heavyweights Fred Tomaselli, Takashi Murakami, Mickalene Thomas, and Gilbert & George will be offered by Christie’s to benefit the artistic activities of the Brooklyn Museum. Profits from the sale, which will be held during the Post-War and Contemporary auction on November 15, will go towards the preservation and presentation of the museum’s collection, exhibitions, and a variety of public programs. The four works were made especially for the auction.

The sale marks the beginning of BKLYN: A Celebration of the Brooklyn Museum, a multi-year collaboration between Christie’s and the museum that will include additional sales benefitting the institution. Housed in a 560,000-square-foot Beaux-Arts building, the Brooklyn Museum is one of the oldest and largest institutions in the country. Its permanent collection features everything from ancient Egyptian pieces to contemporary art.

The top sale at last night’s Impressionist and modern Art auction at Sotheby’s in New York was a 1932 painting by Pablo Picasso of his muse, Marie-Therese Walter. The suggestive Nature Morte aux Tulipes, estimated at $35 to $50 million, sold to a phone bidder for $41.5 million.

The sale at Sotheby’s took place just one day after Christie’s lackluster Impressionist and modern art auction and didn’t fare much better than its predecessor. While there were some notable sales, 31% of lots went untouched including mid-level works by Degas and Rodin. While many have been blaming the election and unfortunate weather for the mixed sales, the quality of the work featured has also in question. Many have taken note of the padded sales by both auction houses and during these delicate economic times, buyers want to spend money on exceptional works, not mediocre works by exceptional artists.

On a positive note, there were a number of impressive sales besides the Picasso portrait. Claude Monet’s 1881 landscape Champ de Blé estimated at $5 to $7 million fetched $12.1 million and a photograph of Marcel Duchamp taken by Man Ray sold for $2.4 million, well over it’s $1.7 million high estimate. Another work that exceeded expectations was Fernand Leger’s Les Contructeurs, which went for $1.37 million, more than double its low estimate. The sale brought in $163 million; it was expected to garner about $169 million in total.  

Christie’s kicked off their highly anticipated fall auctions with a lackluster Impressionist and Modern Art sale on Wednesday evening. While there were many outstanding circumstances (i.e., Hurricane Sandy, the presidential election, the Dow Jones’ drop) that may have contributed to the sale’s inability to reach its low estimate of $210 million, the auction garnered $204,800,000 but left 21 of its 69 lots unsold. Other factors that may have contributed to the uneven sale were too high estimates and an inconsistence in quality as it was the mid-level works that went without buyers.

The top sales were high with six works selling for over $10 million. Wassily Kandinsky’s early and rare Studie fur Improvisation 8 brought $23 million and a set a record for the artist at auction while just breaking its low estimate of $20 million. Claude Monet’s Nymphaes, a watercolor from his water lilies series, was the evening’s top lot at $43,762,500. Other top lots included Pablo Picasso’s Buste de Femme that sold for $13,074,500, Constantine Brancusi’s white plaster Une Muse that brought $12,402,500, and Joan Miro’s Peinture (Femme, Journal, Chien which fetched $13,746,500.

Sotheby’s sale begins today after three days of delays due to Hurricane Sandy.

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.

Christie’s announced this week that it has named Doug Woodham the president of Christie’s Americas. Woodham has spent the last 20 years working in finance, technology, and business, holding jobs at UBS Wealth Management and Moody’s KMV, an analytics company that helps capital markets and credit risk management professionals worldwide.

Christie’s former president, Marc Porter, is now the international head of private sales and will continue to serve as the chairman of Christie’s Americas. Woodham, who will report directly to Christie’s CEO Steven Murphy, will be responsible for the overall management of the company in the Americas.

Woodham’s art world experience includes a two-year stint as the co-chair of the American Fellows patron program at the Whitney Museum of American Art. He played a pivotal role in developing a financial plan for funding the Whitney’s new building; a Renzo Piano designed the $750 million structure that will open in New York’s meatpacking district in 2015.

The National Geographic Society is well known for its collection of photographs chronicling scientific exhibitions, explorations, archaeology, wildlife, and various cultures of the world. With 11.5 million photos and original illustrations in its collection, National Geographic will bring a small selection from the archive to Christie’s December auction. There will be 240 pieces spanning from the late 1800s to the present including photographs as well as paintings by artists such as Andrew and N.C. Wyeth. The National Geographic Collection: The Art of Exploration is expected to bring about $3 million on December 6. This marks the first time any of the institution’s collection has been sold.

While many of the works have never before been published or exhibited, a number of them are well known including Steve McCurry’s Afghan Girl that has a pre-sale estimate of $30,000 to $50,000. Other works include a 1969 illustration entitled A Blue Globe Hanging in Space–The Earth as Seen From the Moon by Charles Bittinger, a photo of a diver with an octopus taken by Jacques Cousteau, and The Duel on the Beach, a painting by N.C. Wyeth.

All proceeds from the auction will be put towards the promotion and preservation of the National Geographic archive as well as the young photographers, artists, and explorers who will guide the institution into the future.

Last week at Sotheby’s auction house in London, Gerhard Richter’s Abstraktes Bild (809–4) sold to a telephone bidder for $34.2 million, the highest price paid for a living artist’s work at auction. Previously owned by musician and collector, Eric Clapton, the abstract painting was estimated to bring $14.1 million to $18.8 million.

Alex Branczik, Senior Director and Head of the Evening Auction of Contemporary Art, said, “The combination of outstanding provenance and gold-standard quality in this sublime work by this blue-chip artist made for an historic auction moment. Gerhard Richter’s international appeal as one of the hottest Contemporary artists was once again confirmed this evening.”

The German postwar painter, best known for his abstract and figurative works, was recently the subject of a critically acclaimed retrospective, Gerhard Richter: Panorama, at the Tate Modern in London, the Pompidou Center in Paris, and the Staatlichen Museum in Berlin. After the show, the prices of Richter’s works have continued to climb.

Friday’s sale beat out Jasper Johns’ Flag painting from the 1960s, which brought $28.6 million at Christie’s in 2010, for a living artist at auction. Richter, 80, lives in Cologne, Germany.

While sales totaled $3,486,127 million at Sotheby’s American Paintings, Drawings, and Sculpture auction on September 28^th in New York, 35% of lots went unsold. Sotheby’s did slightly better than Christie’s in the American Art arena, but both sales are a testament to the lackluster performance of mid-season auctions.

“Sotheby’s did put a few more important paintings in the sale,” said Debra Force of Debra Force Fine Art, Inc. “The question is whether the clientele is there to buy it.” It appears that the clientele interested in purchasing Rockwells were at least in attendance. Is He Coming? (1919), a quintessential Norman Rockwell painting of a young boy and his dog peering up the chimney on what appears to be Christmas Eve, brought in $602,500. The final price was $300,000 more than than the paintings high estimate ($200,000–$300,000).

Sotheby’s sale featured more than 200 paintings, drawings, and sculptures and included property from two noteworthy private collections belonging to Margie and Robert E. Petersen and Susan Kahn Rosenkranz and Richard Rosenkranz. Highlights included works by Rockwell Kent, Marsden Harley, Grandma Moses, and Ben Shahn with Kent and Moses taking two of the top five lots. Moses’ On the Banks of the Hudson reached the third highest price of the sale at $92,500 but still brought in considerably less than its high estimate of $120,000. Rockwell Kent’s Adirondack Farm, Summer sold for $86,5000 (estimate: $25,000–$35,000), the fourth highest sale of the auction.

While the highlights of the auction could have made more money in a more important sale, the quality is there. "Maybe more important collectors need to get used to looking at these mid-season sales," says Force.