|
After the Impressionist and Modern Art auctions, New York is hosting the most important sales dedicated to contemporary art. Christie’s, Sotheby’s and Phillips de Pury, leaders in the art market, are proposing exceptional catalogues with lots executed by the best artists from the Fifties to our days.
A difficult test to pass considering that contemporary art is still showing signs of weakness. The economic crisis has changed the market, especially the contemporary sector, and it is making professionals sigh for the “golden times” of 2007. What we are experiencing is a very particular situation: private deals are increasing and public auctions are losing ground, because nobody is willing to sell at reduced prices or, simply, show that they need to sell due to problems related to liquidity.
In the first test of 2009, Sotheby’s Contemporary auction held on 12th May recorded an 87% downturn with respect to the previous year sales (315 million for 83 lots, record auction in 2008), but the confrontation after the Lehman’s crack and the price fall in the contemporary sector may appear unrealistic in the light of the crisis. At Christie’s, the following day, the situation was brighter. In the evening of 13th May 54 works were auctioned at the Post-War Contemporary Art auction (49 were sold). Estimates ranging from 71.5 million to 104.5 million dollars were confirmed by the total sold equal to 93,734,500 dollars, which made the sector experts turn pale against the 331.4 million totalled in last year’s evening sale.
The situation is now becoming slightly brighter and the financial crisis, which affected even the world of auctions, is giving way to a shy, but meaningful economic rise. For this reason it will be interesting to follow the trend of the sales in the Big Apple, analysing and hypothesising what will happen on the market.
The first appointment is scheduled on 10th November at Christie’s with the Post-War & Contemporary Art Evening Sale, which will auction 47 lots realised by high-profile artists such as Donald Judd, Jeff Koons, Peter Doig, Joan Mitchell and many others.
The star of the evening is Brother’s Sausage by Jean Michel Basquiat, estimated between 9 and 12 million dollars. An amazing work consisting of six panels which in the drawing are overlapped to create a single work, where the US artist’s unrefined and ingenious energy emerges.
The other top lot at Christie’s is Tunafish Disaster, created by Andy Warhol in 1963, valued at 6-8 million dollars and realised with apparently trivial images: two housewives and some tins of tuna. A scene of ordinary life full of horror which the genius of Business Art represented on the canvas drawing inspiration from a news story, which talked about two housewives from Detroit who tragically died after drinking milk contaminated by tuna.
Another work at auction by the US master of Pop Art is Most Wanted Men No 3, Ellis Ruiz B. (estimate 5.5-6.5 million dollars), but also Heinz Tomato Ketchup with Campbell’s Soup Can (estimate 1-1.5 million dollars) and Michael Jackson (estimate 500-700 thousand dollars).
Interesting the selection of works by Jeff Koons, one of the most highly quoted artists in the contemporary sector: Large Vase of Flowers from 1991, estimated 4-6 million dollars, New Shelton Wet/Dry Gallon, New Hoover Covertible Doubledecker (estimate 2-3 million dollars) and a kitsch pier-mirror which is a clear expression of Koons’s typical poetics (Wishing Well, estimate 1.2-1.8 million dollars).
Among the masterpieces that will satisfy collectors we should mention Reflection (What does your soul look like), a beautiful oil on canvas by Peter Doig, estimated at 4-6 million dollars), but also Untitled by Joan Mitchell (estimate 5-7 million dollars).
Whereas, on 11th November an interesting group of contemporary works (55 lots) will be on sale at Sotheby’s New York venue. In particular, 200 One Dollars Bills by Andy Warhol is anticipated as the top lot of the event, favoured by an estimate of 8-12 million dollars. It is a marvellous serigraph realised in 1962, where the artist immortalises in a serial way the great symbol of the American economic boom, that is the dollar. Another work by Warhol, presented in the catalogue deals with the same theme: Untitled (Roll of Dollar Bills) estimated 2.5-3.5 million dollars.
One of the most important highlights of the auction at Sotheby’s is Gray Numbers by Jasper Johns (estimate 5-7 million dollars), but also a beautiful canvas by David Hockney, entitled California Art Collector (estimate 5-7 million dollars) and Untitled XV by Willem de Kooning (estimate 5-7 million dollars). The latter will be presented at auction also with a sculpture: Large Torso estimated between 4 and 6 million dollars.
Unmissable Orange, Red, Orange, a sublime work by Mark Rothko (estimate 2-3 million dollars) and Ilona on Top (Rosa back Ground) by the talented Jeff Koons (estimate 2-3 million dollars).
The great sales dedicated to Contemporary art will draw to a close at Phillips de Pury & Co., with the auction scheduled on 12th November. A limited catalogue for Part I – Contemporary Art, but with an inspiring selection where we can observe creations from the last years, buyable at contained prices.
Star of this New York session is once again Andy Warhol with Brillo Box from 1964 – object of popular consumption raised to work of art thanks to the artist’s intervention –estimated between 700 and 900 thousand dollars. Another work at auction by the US master of Pop Art is Diamond Dust Shoes (estimate 300-400 thousand dollars).
One of the most valuable works that will go under the hammer is Untitled (four women with their backs to the camera) by Richard Prince, estimate included between 400 and 600 thousand dollars and Infinity Nets (TWA) by Yayoi Kusama, an acrylic on canvas valued between 300 and 400 thousand dollars. Astonishing lot 6, a work from 1994 by Felix Gonzales Torres estimated between 250 and 350 thousand dollars.
With regard to the pieces realised by the great masters of our days, collectors will be attracted by the irreverence of Banksy and his Insane Clown (estimate 200-300 thousand dollars), but also by the installation of the Danish Olafur Eliasson valued between 300 and 500 thousand dollars.
Arcadja Auctions skim here through the auction at Christie’s – New York, November 10th 09 Arcadja Auctions skim here through the auction at Sotheby’s – New York, November 11th 09 Arcadja Auctions skim here through the auction at Phillips de Pury &Co. – New York, November 12 th 09 |
Loading ...