Strong sales at Sotheby’s last night – Italian sale and Contemporary Art Evening sale – London October 17th, 2014

Manzoni Achrome (1958-59) i

A key new benchmark price achieved as eight bidders drove Piero Manzoni’s monumental Achrome well beyond pre-sale expectations to £12,626,500 / $20,249,118 / €15,872,822 (est. £5-7m) – establishing the highest price across all the Frieze auctions this week. The painting was the star lot at Sotheby’s auction of Italian Art this evening which established a grand total of £41,406,650 / $66,403,845 / €52,052,461 – the highest ever total for an auction of 20th century Italian Art. Alongside Manzoni, works by Castellani, Bonalumi and Simeti (all white) nearly doubled the previous records for the artists. All three works came from Giobatta Meneguzzo’s collection and were sold to benefit his museum, the Museo Casabianca. During the Contemporary Sale, a new record was set for one of the founding fathers of the ZERO movement Heinz Mack, when Die Vibration der Stille sold for £302,500.

CONTEMPORARY ART EVENING SALE

Totalled £28,203,200 / $45,229,472 / €35,454,352 (est. £25.1- 35.1m)

125% increase in Chinese participation compared to last year. Martin Kippenberger’s Ohne Titel (1992) sold for £2,322,500 / $3,724,593 / €2,919,624 to Yuz Museum, Shanghai. The top lot of the Contemporary Evening Sale, by the most important living French painter, Pierre Soulages, Peinture from 1958, was bought by a private Asian collector for £2,658,500/ $4,263,436 / €3,342,011 (est. £2-3m). Following the record price established at Sotheby’s in June for Adrian Ghenie, in his third appearance at a Sotheby’s evening auction, bidders drove Duchamp’s Funeral I to £1,022,500 / $1,639,783 / €1,285,389 (est. £400,000-600,000). The top lot of the Contemporary Evening Sale, by the most important living French painter, Pierre Soulages, Peinture from 1958, was bought by a private Asian collector for £2,658,500 / $4,263,436 / €3,342,011 (est. £2-3m). Hotly contested artists introduced at auction tonight, Israel Lund & Danh Vō: both set new records this evening selling for £110,000 and £314,500 respectively

Seven Auction Records

Piero Manzoni, Enrico Castellani, Agostino Bonalumi, Turi Simeti, Israel Lund, Dan Vō & Heinz Mack

Post-War & Contemporary Art and The Italian Sale at Christie’s total £67,9 million – London, Ocotber 16th, 2014

On October 16, Christie’s London evening auctions of Post-War & Contemporary Art and The Italian Sale realised a combined total of £67,928,500. The top price this evening was paid for Peter Doig’s The Heart of Old San Juan, painted in 1999, which sold for £4,562,500. In total 21 lots sold for over £1 million and 32 for over $1 million.

POST-WAR & CONTEMPORARY ART

The Post-War & Contemporary Art Evening Auction realised a total of £40,344,500 selling 89% by lot and 94% value against a pre-sale estimate of £32.1 million – £47.1 million. Record prices at auction were established for 5 artists (such Joe Bradley, Rachel Whiteread, Toby Ziegler and Louis Eisner).

Francis Outred, International Director and Head of Post-War & Contemporary Art, Christie’s Europe: One of the most packed auction rooms I have ever seen witnessed a landmark October auction series, which, for the first time, approaches the importance of our February and June auctions. We saw a record for an Evening Auction in October and a record for the Italian Sale. Achieving a total of £114million over three auctions, this October series doubled our previous record of £57.4million last year and was a testament to the power of Frieze week. Our record Italian Sale, which set a new record for Alighiero Boetti, shows the increasing strength of Italian art, a field in which Christie’s has seen a decade of dominance. In the spirit of Frieze week, the exciting younger generation of painters made a strong debut at our Evening Auction, with record prices for artists such as Joe Bradley, Toby Ziegler, Brent Wadden and Louis Eisner. Strikingly, works by Gerhard Richter made 4 of the top 10 prices at Christie’s tonight, which shows Richter’s continued influence on younger artists and his enduring relevance to painting today.

Highlights:

- Waldstück, 1969 (estimate: £3,000,000 – £5,000,000), which is one of Richter’s three large-scale paintings capturing the heart of the Chilean rainforest, sold for £4,450,500. this work has remained in the same hands for nearly forty years and dates from a breakthrough moment in Richter’s career coinciding with his first New York exhibition at the Guggenheim Museum.

- Peter Doig’s The Heart of Old San Juan, 1999 (estimate: £4,000,000 – £6,000,000) sold for £4,562,500. This image of an emerald basketball court on the edge of the sea holds a significant place in the artist’s oeuvre as it is his first painting in a tropical landscape.

- Executed in 1987, Jean-Michel Basquiat’s Love Dub for A (estimate: £4,000,000 – £6,000,000), realised a total of £4,338,500.

THE ITALIAN SALE

The Italian Sale achieved £27,584,000 / $43,968,896 / €34,342,080 – the highest ever total for an auction of 20th century Italian art. It was 88% sold by lot and 88% by value against a pre-sale estimate of £22.4 million – £32.3 million.The top price was paid for Alighiero Boetti’s Colonna, from 1968, which sold for £2,434,500 / $3,880,593 / €3,030,953 and set a world record price for the artist at auction. 6 artist records were set for works by Alighiero Boetti, Marina Apollonio, Agostino Bonalumi and Piero D’Orazio.

Mariolina Bassetti, Chairman Christie’s Italy: Building on the success of last years’ Italian sale and of the single owner auction ‘Eyes Wide Open: An Italian Vision’ in February 2014, which made 14 artist records, we are proud to maintain our status as market leaders in Post-War Italian art. The 14th edition of Christie’s Italian Sale realised a total of £27.5 million, smashing the previous record for the category. Over the years, the Christie’s team has built the strength of the Italian Sale on strong foundations of art historical research and curatorial values. The Italian Sale continues to offer exceptional works from Italian modern and contemporary art, which continues to attract an increasingly international audience. We are pleased that the group of works by Alighiero Boetti realised a combined total of £4.8 million and that the Private Collection ‘Mapping Modern Art in Italy’ achieved such a strong result of £8.3 million. The numerous record prices set tonight prove the gradual and healthy growth of the Post War and Contemporary Italian art market, from artists that are relatively new to the auction house market such as Paolo Scheggi and Marinoa Apollonio to the most significant sculpture by Alighiero Boetti’s entitled Colonna, which set a world auction record for the artist.

ARTIST RECORDS:

POST-WAR & CONTEMPORARY ART

5 RECORD PRICES:

Lot 50 Brent Wadden £74,500 / $118,753 / €92,753

Lot 53 Toby Ziegler £98,500 / $157,009 / €122,633

Lot 54 Joe Bradley £986,500 / $1,572,481 / €1,228,193

Lot 61 Rachel Whiteread £578,500 / $922,129 / €720,233

Lot 89 Louis Eisner £134,500 / $214,393/ €167,453

* * *

THE ITALIAN SALE

6 RECORD PRICES:

Lot 107 Marina Apollonio £92,500/ $147,445/ €115,163

Lot 108 Carla Accardi £170,500 / $271,777 / €212,273

Lot 125 Alighiero Boetti £2,434,500 / $3,880,593 / €3,030,953

Lot 135 Agostino Bonalumi £386,500 / $616,081 / €481,193

Lot 140 Piero D’Orazio £278,500 / $443,929 / €346,733

Lot 166 Nanda Vigo £52,500 / $83,685 / €65,363

Phillips inaugural sale at Mayfair totals £14.8 million – Ocotber 15th, 2014

image002

LONDON –   15 OCTOBER 2014 – Phillips London October Contemporary Evening Auction totalled £14,862,500 / $23,631,375 / €18,578,125 selling 80% by lot and 77% by value.

“At the starting line of an extensive fall season we are very pleased to have launched our European Headquarters with an Evening Auction which took place in a packed sale room and which saw many strong prices. Since the opening of our space at 30 Berkeley Square last week we have seen early signs of great promise ahead having welcomed an average of 1,000 visitors a day to our exhibitions and with almost a third of this evening’s bidders being fresh to Phillips.” Michael McGinnis, President, Phillips.

“With records for Tauba Auerbach, Danh Vō, and KAWS we have once again started the week of Frieze auctions with real energy. The animated bidding in the room that saw strong prices for Banksy, Anselm Kiefer and Alex Israel was a continuation of the momentum we have felt all week with the opening of our European Headquarters.” Peter Sumner, President, London.

Top Ten Lots:

6 Christopher Wool Untitled, 1990 £2,098,500 / $3,336,615 / €2,623,125

4 Tauba            Auerbach Untitled (Fold), 2010 £1,142,500 / $1,816,575 / €1,428,125

7 Jeff Koons Jim Beam – Observation Car, 1986 £962,500 / $1,530,375 / €1,203,125

21 Anselm Kiefer Für Paul Celan, 2004 £818,500 / $1,301,415 / €1,023,125

13 Martin Kippenberger Untitled (from the series Krieg Böse / War Wicked), 1991 £782,500 / $1,244,175 / €978,125

16 Banksy Submerged Phone Booth, 2006 £722,500 / $1,148,775 / €903,125

17 Keith Haring Untitled, 1988 £602,500 / $957,975 / €753,125

27 Damien Hirst            5-Fluorotryptamine, 2007 £578,500 / $919,815 / €723,125

20 Barry Flanagan Left Handed Drummer, 1997 £506,500 / $805,335 / €633,125

15 Anish Kapoor Untitled, 2000 £506,500 / $805,335 / €633,125

Auction Records:

4 Tauba            Auerbach Untitled (Fold), 2010 £1,142,500 / $1,816,575 / €1,428,125

2 Danh Vo We The People (Detail), 2011 £206,500 / $328,335 / €258,125

47 KAWS Accomplice, 2010 £266,500 / $423,735 / €333,125

Featured Image -- 2556

Gallery Weekend Budapest

ArtMarketTalks:

Soon on AMT.. I will be there!

Originally posted on ArtGuideEast:

Budapest is about to have its first “gallery weekend” mid-September. ArtGuideEast asked Gábor Rieder chief organiser of GWB about the initiative, their plans and the program itself.

Rieder Gábor chief organiser of Gallery Weekend Budapest

Rieder Gábor chief organiser of Gallery Weekend Budapest

ArtGuideEast: Who initiated the idea of the first Gallery Weekend Budapest?

Gábor Rieder: The original idea was born when I discussed new possibilities with gallerist Ani Molnár who was then the president of the Association of Hungarian Contemporary Art Galleries, in early January 2014. This idea  had been circulating among the gallerists of Budapest for many years, but there were no professionals to manage the event. We have just founded a new non-profit initiative, the Creative Platform Contemporary Art Foundation, in order to organize special contemporary art projects originally related to the magazine publishing. (At that time I was the chief editor of Flash Art Hungary, since then the magazine has ended thanks to unworthy political business.) Then…

View original 927 more words

The Britsh auction house Bonhams could be sold to Chinese Poly Culture

The power of China Poly Culture has identified its next Western prey in Bonhams, the historical British auction house with over 200 years of history. As part of the group owned by the Chinese Government, Poly Group, Poly Culture is one of the leading auction houses in Asia which in March, made ​​its debut in the Hong Kong Stock Exchange.
Owned by the Dutch collector Evert Louwman, Bonhams earlier this year had already started to looking for buyers, and will now will be sold for a figure of which we still do not know the amount, probably some hundreds of millions of pounds.
Recently, another major news involved the English house and the Asian area: the former director of Art Basel Hong Kong Magnus Renfrew has become director of Bonhams Asia, to redefine the strategy of the company in the Eastern area, perhaps already in the perspective of the great plan of acquisition by Poly Group …

An innovative tool for the art world community: Global Art Agenda is now available on your app store

image

Launched on August 4th, Global Art Agenda is an innovative app developed by the French company NetDevices, with an agenda and a clever set of tools to allow the art lovers to be constantly updated on what’s happening in the art world.

The App is available in French and English for free on the App Store and on Google Play. It presents an ever-growing selection of the most significant international art events, comprising an Art Travel Guide and a Global News sections.

40 major fairs have already joined the app: Global Art Agenda covers all the key art domains and collects essential information about the significant fairs and biennials around the globe. Also, users can discover in preview a selection of galleries and of their artworks on display. Moreover, art lovers can plan their trips, finding a selection of high standing hotels, restaurants, bars & clubs etc.

Global Art Agenda offers a selection of Global News, introducing interesting articles from media partners, leading actors in the art and culture fields. Art lovers can also share information (notes, photo, articles…) and can keep track of relevant documents in their notes as maps, meeting memos and photos with Evernote.

watch the video

 

eBay and Sotheby’s new venture announced

unnamedeBay and Sotheby’s announced a partnership to develop an innovative online platform that will make it easier for millions of people worldwide to discover, browse and acquire exceptional works of art, antiques and collectibles. With Sotheby’s expertise and historic auction experience and eBay’s technology platform, they will start by offering a number of live auctions that are taking place at Sotheby’s headquarters in New York. To accomplish this, eBay in the near future will be launching a newly-designed experience on its site, tailored for collectors of rare, unique and premium art and collectibles as well as first-time buyers.

As technology evolves and mobile commerce becomes ubiquitous, collectors are increasingly purchasing high-end items online and even on-the-go from their mobile devices. Both companies will focus on growing the market at price points where they expect their collectors to converge in the future – particularly in the segments such as jewelry, watches, prints, wine, photographs and 20th design. The global art market is currently estimated around $65 billion, with annual online sales far below averages for other luxury goods.

Some figures:

• Online bidders competed for 17% of the total lots offered in 2013

• The number of lots purchased online in 2013 increased 36% vs. 2012

• More than half of all lots sold were in the $5,000-$100,000 range

• 32% of all BIDnow bidders had never transacted at Sotheby’s prior to 2013

• The number of visitors to sothebys.com on mobile devices (tablet + smartphone) doubled in 2013

• Mobile traffic now in 2014 accounts for 25% of total Sotheby’s website traffic

• Collectibles accounted for nearly $8 billion of GMV in 2013 with 36 million active buyers

• Each day on eBay, more than 3,500 auctions close with a price of >$5,000

• eBay has 145 million global active buyers in 190 countries

• 40% of eBay Volume is touched by mobile

• eBay enabled $20 billion in mobile commerce in 2013, up from $0 in 2008