Displaying items by tag: lots

Christie's London staged a really solid sale this evening that realized £117 million ($178 million) against a presale estimate of £93–132 million and achieved all but five of 62 lots selling. These figures hide what was actually a fairly see-saw event, as 25 lots went for hammer prices above their estimate, three of them for record prices. Twenty lots struggled, selling for hammer prices on or below the low estimates, including five of the top 10 lots. (Estimates do not include buyer's premium, whereas sale prices given here do.) So, while the sale was the third highest for Christie's contemporary in London (the previous high was £133 million in June 2012), it wasn't entirely smooth sailing.

The Dallas-based auction company, Heritage, will host a number of sales featuring objects from Pierre-Auguste Renoir’s (1841-1919) personal archive starting on September 19, 2013 in New York. Items include the artist’s eyeglasses, funeral receipts, clothing, paperwork, photos, medals, statues and books signed by fellow artists. The sale will also include letters and writings by Renoir that detail his travels, inspirations for paintings and relationships with models and dealers.

During the 1970s, Renoir’s heirs moved from France to Canada and then to Texas, taking the artist’s belongings with them. The trove, which will be broken into 150 lots, has been stored in various spots across North America until now. Scholars are hoping that an institutional buyer will step up and make a bulk purchase as the collection holds significant historic value.

The collection was put up for auction once before in 2005 but it failed to sell. Following the sale, anonymous buyers from Arizona purchased the lot. They are now consigning the works to Heritage.

George Bailey, the Chairman of Business Development at Sotheby’s London has partnered with fellow Sotheby’s employee, Lucinda Blythe, to launch an independent online auction site. The Auction Room (www.theauctionroom.com) specializes in “middle market” works of art that fall just under the minimum value criteria that many big name auction houses such as Sotheby’s and Christie’s enforce.

The Auction Room’s inaugural sale of Middle Eastern Contemporary Art will take place on June 24, 2013. An accompanying exhibition will held in London so that prospective buyers can view the works in person before the online sale begins. All of the lots offered will also be available for browsing two weeks before the sale on The Auction Room’s website.

The Auction Room will also specialize in the sale of jewelry, watches, silver, ceramics, and paintings. While the website is a bold new venture, Bailey will maintain his post at Sotheby’s.

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.

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.