Sunday, November 28, 2010
Sunday, October 3, 2010
Monday, August 23, 2010
Saturday, July 31, 2010
Thursday, July 29, 2010
Sunday, July 4, 2010
Tuesday, June 15, 2010
Monday, May 24, 2010
Thursday, May 13, 2010
WSJ, Kelly Crow:
Christie's International auctioned $232 million of post-war and contemporary art at its evening sale in New York on Tuesday, led by a record-setting $28.6 million waxy painting of an American flag by Jasper Johns.
"Flag," which was completed in 1966 and hung for decades in the home of the late "Jurassic Park" author Michael Crichton, sold to New York art adviser Michael Altman. It was priced to sell for up to $15 million.
Mr. Crichton's collection of colorful, mid-century artworks helped the sale beat Christie's own presale expectations as well as eclipsing the house's $93.7 million sale last May -- proving collectors are once again willing to chase after newer works that carry the right pedigree.
The mood was chipper throughout the sale, with collectors like hedge-fund manager Steve Cohen and former superagent Michael Ovitz taking spots in skyboxes overlooking the auction house's crowded sales room, where others like entrepreneur Eli Broad and author Salman Rushdie took their seats. Two men on the front row wore ballcaps: fashion designer Marc Jacobs and fund manager John Angelo, who sits on rival Sotheby's board.
Yet the night unquestionably belonged to Jasper Johns, the artist from Georgia whose seminal series of late 1950s and 1960s depictions of flags, targets and alphabets represent some of the earliest examples of Pop art. Christie's sold eight of the artist's works for a combined $43.6 million, including the $4.1 million "Figure O."
The sale's other big winner was Andy Warhol, whose 1965 diptych of a lavender-faced Elizabeth Taylor, "Silver Liz," sold for $18.3 million, above its $15 million high estimate. Warhol's portraits of Hollywood starlets like Ms. Taylor or Marilyn Monroe are among his most coveted pieces, and at least four bidders competed for "Liz," with New York dealer Dominique Levy getting it.
The Christie's sale also amounted to a test of Robert Rauschenberg's market. Three telephone bidders went after his 1960-61 "Studio Painting" – one of the artist's so-called "Combines" because he hung a small bag on a clothesline that runs between the work's pair of painted canvases. A Christie's specialist who often represents Parisian collectors won it for $11 million, over its $9 million high estimate. A Rauschenberg silkscreen, "Trapeze," also sold for $6.3 million. (Final prices, unlike estimates, include the auction house's additional fee.)
Altogether, 74 of the 79 works offered found buyers, helping the sale reach 98% of its potential total value -- one of the most successful showings since the recession. The Crichton estate's 31 pieces alone sold for $93.3 million, against a $69.6 million high estimate. The sale broke at least five records for artists including Johns, Mark Tansey, Sam Francis, Lee Bontecou and Christopher Wool. Around 74% of the offerings went to American buyers, the auction house said.
Other sellers included Mr. Ovitz: Christie's helped him sell a pair of works, including Neo Rauch's surreal café painting, "Seek," for $1 million. The work had been priced to sell for between $800,000 and $1.2 million. Mr. Ovitz also sold Eric Fischl's 1984 image of a nude woman basking in her own reflection, "Vanity," for $1 million.
Sotheby's holds its post-war and contemporary sale on Wednesday, and boutique auctioneer Phillips de Pury follows on Thursday.
Thursday, May 6, 2010
This was a stellar night for Christie's and for the art market. The sale was led by exceptional prices for works by Pablo Picasso, Alberto Giacometti and Henri Matisse from the Brody Collection, one of the greatest private collections to come to market. In addition, we witnessed great depth of bidding and strong results for important works from other American and European collections, including additional paintings by Picasso and works by Giacometti and Pierre-Auguste Renoir. We are honored to have been entrusted with so many remarkable works this season, and we are delighted to have delivered such positive results, including three new world auction records for Picasso, Georges Braque, and Jean-François Raffaelli." The star lot of the evening, and the most anticipated work to come to market from private hands in the last decade, was Nude, Green Leaves and Bust, a sensuous and stunning masterpiece from Picasso’s celebrated 1932 series of paintings depicting his muse and mistress Marie-Thérèse Walter. Referred to as the “lost” 1932 Picasso because it had never before been published in color, Nude Green Leaves, and Bust was acquired by Mr. and Mrs. Sidney Brody in 1950 for $17,000 from the art dealer Paul Rosenberg. It had been exhibited in public only once since its purchase, at a 1961 exhibition sponsored by the UCLA Art Council. At the auction, eight bidders competed for the Brody Picasso, as Christie's lead auctioneer and Honorary Chairman Christopher Burge started the bidding at the $58 million mark. Mr. Burge took bids from within the saleroom and on the phone before the competition settled down to two bidders at the $88 million mark and a one-on-one battle ensued. Finally, at 7:32pm – nine minutes after the bidding open – the final bid was hammered down and a new world record for the most expensive artwork at auction was sealed at $106,482,500.---Todd Sigety
Saturday, April 17, 2010
Tuesday, April 13, 2010
Thursday, April 8, 2010
Saturday, March 20, 2010
Tuesday, February 23, 2010
Saturday, February 20, 2010
Wednesday, February 17, 2010
Sunday, February 14, 2010
Sunday, January 31, 2010
Saturday, January 30, 2010
Sunday, January 24, 2010
Saturday, January 16, 2010
Thursday, January 14, 2010
Wednesday, January 13, 2010
By Le-Min Lim Jan. 12 (Bloomberg) -- Mainland Chinese are buying more art at Christie’s International’s auctions in New York and Europe as their purchases “rose significantly” last year using wealth produced by a growing economy, Christie’s said. Mainland China residents bought the most-expensive items at Christie’s New York jewelry auction in October and more than doubled their purchases of Chinese art last year at sales in London and New York, said Andrew Foster, president of Christie’s Asia, in a statement. Nine of the 10 priciest items at the second part of a Paris auction of Yves Saint Laurent’s effects in November were bought by Asians, Christie’s said, without saying how many were Chinese. The past two years have seen the Chinese outbid Americans and Europeans for top-end Asian antiques and gems at art sales in Hong Kong, the world’s third-largest auction market after New York and London. Now, the Chinese are expanding their collection beyond traditional art to include watches, wine, jewels and some Western art, said Foster. “The trend is crystal clear,” said Foster, who’s also Christie’s chief operating officer. Asia’s “wealth is migrating to art and lifestyle purchases, and not only in Hong Kong.” Hong Kong is leading the global recovery in the art and auction markets, said Foster. Like rival Sotheby’s, the company holds biannual sales in the city. In 2009, Christie’s Hong Kong sales tallied HK$2.7 billion ($348 million), with buyers paying 27 percent more per lot at the second auction than the first. Foster said “passion” is returning to the Hong Kong art market. “The head evaluates, but the heart rules the art market.”
Monday, January 11, 2010
Do you know...
the most important requirement of any appraiser is USPAP compliance?
ASA Granted Expanded USPAP Options
In a letter dated January 5, 2010, The Appraisal Foundation officially granted ASA's request to allow BV, GJ, MTS, and PP appraisers subject to USPAP the following options for meeting USPAP continuing education requirements:
- Successful completion of the 15-Hour National USPAP Course and pass the associated 15-Hour National USPAP Course Examination every five calendar years, or
- Successful completion of the 7-Hour National USPAP Update Course every two calendar years, or
- Successful completion of a 7-Hour National USPAP Update Course specific to Business Valuation, Gems and Jewelry, Machine and Technical Specialties, or Personal Property every two calendar years
Sunday, January 10, 2010
Museums across the country are selling off portions of their collections to generate cash for operating expenses. It's a passionate discussion; no one wants to HAVE to do this. Sadly, reality interferes with artistic missions. If you can't experience it, is there still art?
Many museums and historical institutions SHOULD redefine their mission statements, re-allocate their collections and re-focus on their core constituents.
It's important to keep the lights on, doors open and remain relevant to your community! Creativity is key!