A new world record for Christie’s: the highest total for PWC Evening sale in the history – November 12th, 2014

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(Press Release) Christie’s set Art market history with its Post-War and Contemporary Art evening sale, which totalled $852,887,000, with strong sell-through rates of 97% by value and 94% by lot. The sale featured a range of superlative works from distinguished private collections and institutions, such as the Cy Twombly Foundation, the Linda Pace Foundation, The Bergman Collection, and the Lisa de Kooning Trust. The majority of the works offered have been featured in one or several museum exhibitions and almost half of them were completely new to the market. The sale established 11 new world auction records, selling 3 works for over $50 million, 23 for over $10 million and 69 for over $1 million. 38% of lots sold above the high estimate, and 43% of lots sold within the pre-sale estimate range. Two additional sales, the Day Sale, and an online-only auction will complete this week’s sales series.

At the zenith of the art market is Andy Warhol with several major works presented in the sale, including the highly anticipated Triple Elvis [Ferus Type], 1963 and Four Marlons, 1966. Sold by the German Westdeutsche Spielbanken GMBH & CO. KG. Triple Elvis [Ferus Type] and Four Marlons, achieved respectively a spectacular $81,925,000 (£51,612,750/ €65,540,000) and $69,605,000 (£43,851,150/ €55,684,000) after fierce bidding between eight telephone bidders and several persistent clients in the saleroom.

Achieving a world auction record for the artist at $30,405,000 (£19,155,150/ €24,324,000) after a 4-minute bidding battle between 4 collectors, Ed Ruscha’s Smash was an early example from the 1960s of one of the artist’s revolutionary word paintings, a body of work which established him as one of the most innovative and influential painters of his generation.

ABSTRACT EXPRESSIONISM

In the artist’s personal collection since its inception, Willem de Kooning’s Clamdigger was sold for $29,285,000 (£18,449,550/ €23,428,000) a world auction record price for a sculpture by the artist. This milestone in modern sculpture was sold by the artist’s three grand-daughters. Masterfully executed, Cy Twombly’s Untitled was presented on the market for the first time, having resided in the same private collection for the past 40 years. This work, from the famous series of Blackboard paintings made between 1966 and 1971, achieved $69,605,000 (£43,851,150/ €55,684,000), setting a new world auction record for the artist.

CONTEMPORARY

The contemporary selection of the sale saw exceptionally strong international demand for Untitled by Martin Kippenberger, which exceeded the artist’s record when it sold for $22,565,000 (£14,215,950/ €18,052,000). Staggeringly beautiful, Jeff Koons’s monumental sculpture Balloon Monkey (Orange) fetched $25,925,000 (£16,332,750 / €20,740,000). We saw strong international bidding on Gerhard Richter’s vibrant Abstraktes Bild (648-3) which sold for $31,525,000 (£19,860,750/ €25,220,000) while Abstraktes Bild (774-4) sold by the Linda Pace Foundation achieved $16,965,000 (£10,687,950/ €13,572,000). Proceeds from the sale of this work will be used to realize an arts campus in San Antonio, Texas, the home of the Foundation.

Record for Jasper Johns’ 1983 Flag at Sotheby’s Contemporary Art sale in NY – November 11th, 2014

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Contemporary Art has achieved $460,268,000 at Sotheby’s so far this week, including works by Rothko, Diebenkorn and Lucio Fontana from The Collection of Mrs. Paul Mellon sold last evening for a total of $116.6 million. Tonight’s auction saw a sell through rate of 85.9%, marking the 13th consecutive Evening Sale of Contemporary Art at Sotheby’s New York with a sell-through rate of over 80%.

The sale was led by Mark Rothko’s No. 21 (Red, Brown, Black and Orange) from The Schlumberger Collection which was sought by five bidders before selling for $44,965,000 to applause:

  • The pivotal canvas from 1951 has been in The Schlumberger Collection – the magnificent compendium of Modern and Contemporary masterworks acquired by

distinguished collectors and benefactors Pierre and São Schlumberger, for over 40 years and was last seen in public in 1970.

  • Other Schlumberger Collection works that performed well included Jean Dubuffet’s Cité Fantoche which set a record for the artist when it sold for $7,445,000 (est.

$4/6 million).

Jasper Johns’ 1983 Flag is among the most recognizable works of American Art and sold tonight for $36,005,000 to set a new record for the artist at auction after an extended contest between six bidders (est. $15/20 million): acquired from the artist in 1983, the year it was made, and has remained in the same private collection since.

Top prices for Andy Warhol portraits included Liz #3 (Early Colored Liz) the portrait of Elizabeth Taylor on a distinctive mint background achieved $31,525,000, Brigitte Bardot from the Gunter Sachs Collection sold for $11,645,000, and Self-Portrait (Fright Wig) fetched $11,365,000.

Strong Prices For Abstraction:

  • The 1961 Untitled Robert Ryman fetched $15,005,000, doubling the previous record for the artist which has stood since 2006 and several times the $500,000 the work brought when it last appeared at auction in 1988.
  • Gerhard Richter’s Abstraktes Bild from 1991 drew multiple bidders to fetch $21,445,000 (est. $15/20 million).
  • Christopher Wool’s Halloween Fell on a Weekend from 2004 sells for $8,005,000, to exceed the high estimate.
  • An Untitled Cy Twombly work on paper is sought by six bidders before exceeding the high estimate to sell for $5,205,000 to a bidder in the room.

Manet’s “Le Primtemps” led Christie’s sale of Impressionist and Modern Art – New York, November 5th, 2014

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The J. Paul Getty Museum in Los Angeles is the new owner of Edouard Manet’s Le Printemps (Springtime), sold at Christie’s New York Wednesday night for$65,125,000 (£41,028,750 / €52,100,000) after an epic bidding battle between private and institutional clients from the Americas, Europe, and Asia. The price set a new auction record for any work by Manet, nearly doubling the artist’s previous auction record of US$33.3 million, set in 2010. Of the 30 paintings that Manet exhibited at the Paris Salon of 1882 over the course of his lifetime, Le Printemps was the last remaining in private hands. Proceeds from its sale will benefit a private American foundation supporting environmental, public health and other charitable causes.

Manet’s Le Printemps was the star lot of Christie’s Evening Sale of Impressionist and Modern Art on Wednesday, which achieved an overall sale total of $165,635,000 (£104,350,050/ € 132,508,000), and was 90% sold by lot and 87% by value. Of the 39 works offered, 1 lot sold for over $50 million, 6 sold for over $5 million, and 31 sold for over $1 million. 38% of lots sold above the high estimate, and 23% of lots sold within the pre-sale estimate range. Three additional sales, Works on Paper, the Day Sale, and an online-only auction of Picasso Ceramics will complete this week’s sales series.

While the record price for Manet drove the evening’s headlines, the sale was also notable for consistently high sell-through rates at the middle market level, between $500,000 and $5 million. For example, works priced in the $1-2 million range were 92% sold by lot.  Similarly, works priced in the $2-5 million range were 93% sold by lot. Together, these impressive rates are an indication that collectors are seeking high-quality Impressionist and Modern art across a broad spectrum of prices.

Impressionist and Cubist works proved particularly appealing to clients this season, with 100% of the sale’s Impressionist and Cubist offerings sold — an indication of heightened interest in this movement as well as the great rarity of the works offered.  The Cubist selection was led by a collection of three works from the Melamed Family Collection, which totaled $10,151,000, including:

o         PABLO PICASSO, Figure, paper collage, pen and black ink and pencil on paper, 1913, price realized: $4,309,000

o         GINO SEVERINI, Etude pour Autoportrait au canotier, charcoal, pastel and white and blue chalk on buff paper, 1912-1913, price realized: $4,757,000 – a new auction record for a work by the artist in this medium.

Additional Cubist Highlights

o         Juan Gris, Verre et carafe sur une table, price realized: $1,085,000

o         Pablo Picasso, Guitare, price realized: $5,317,000

o         Georges Braque, Guitare et rhum, price realized: $4,645,000

Historic results for Impressionist & Modern Art at Sotheby’s New York – November 4th, 2014

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The Evening Sale totaled an exceptional $422.1 million, marking the highest total for any auction in Sotheby’s history.     Alberto Giacometti’s legendary Chariot is the second sculpture in auction history to cross $100 million, achieving $100,965,000, the second-highest auction price for the artist, and second-highest price for any sculpture at auction. One of only two casts remaining in private hands, which has remained in the same private collection for more than four decades. Sotheby’s holds the reigning world auction record for Giacometti as well as for a sculpture by any artist, set at Sotheby’s London in February 2010 by the artist’s L’homme qui marche I, which sold for $104.3 million.

Amedeo Modigliani’s totemic goddess Tête established a new world auction record for the artist, selling for $70,725,000.   Never before offered at auction, and one of few examples from the series remaining in private hands, breaking the artist’s previous auction record of $69 million, set at Sotheby’s in 2010 by the canvas Nu assis sur un divan (La belle romaine).

Three works by Claude Monet from a Private American Collection totaled $61.9 million, led by Alice Hoschedé au jardin from 1881 that achieved $33,765,000 million – a new auction record for a portrait by the artist. Vincent van Gogh’s Still Life, Vase with Daisies and Poppies fetched $61,765,000, marking a new auction record for any still life by the artist, as well as the highest auction price for Van Gogh since 1998.

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

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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

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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