Category :Art Market

Written by: Elena Lanzanova

Impressionism And Modern Art At Auction In London

Wednesday 27 January 2010

London, one of the world leading capitals for the art market, will be hosting in the first days of February, precisely on 2nd and 3rd, marvellous impressionist and modern masterpieces which will be given to the best bidder in what is anticipated to be another interesting duel between the two leading auction houses, Christie’s and Sotheby’s.
The event represents an excellent chance to analyse the economic trend in this sector, which is always able to attract a large number of collectors willing to spend astronomic figures to “conquer” works of significant historical and artistic relevance. Indeed, according to recent statistics, in the last eighteen months, impressionist and modern art has given evidence of still being a strong and stable category. Despite the economic crisis in 2009, the data provided by Christie’s are very positive: 12 works sold for more than 10 million dollars; 34 lots sold for more than 5.5 million dollars and 109 for more than 1 million dollars. Extremely favourable signs for the future outcomes of the art market.
An accurate and high-quality selection is offered by Christie’s catalogue, which is proposing 48 lots for the auction “Impressionist/Modern Evening Sale” scheduled on 2nd February in the London venue of King Street. A prestigious sale considering the fact that the pre-sale estimate is calculated between 56,505,000 and 80,805,000 pounds.
The star of this session will be La Gitane by Kees Van Dongen, presented with an estimate between 5.5 and 7.5 million pounds. A marvellous oil on canvas executed by the Dutch master around 1910-1911, very prolific year for his artistic career.
Another highlight at Christie’s is a beautiful canvas dated 1916 by Natalia Gontcharova, Soviet artist who in 2008 achieved the title of most highly-paid women in the art market, thanks to Les fleurs sold for 5.5 million pounds. The work presented in London, entitled Espagnole, comes from a private Swiss collection and is valued between 4 and 6 million pounds.
Unmissable at a sale of modern art is Pablo Picasso’s name, present on this occasion with two paintings: Homme assis sur une chaise (estimate 3.5-5.5 million pounds), realised in Cannes in September 1956, and Tête de femme – Jacqueline (estimate 3-4 million pounds), portraying the painter’s second wife.
Among the masterpieces that will be proposed in the Evening Sale there is also Danseuses, a pastel on paper by Edgar Degas proposed to the public with an estimate of 2-3 million dollars and Nu aux jambes croisèes by Henri Matisse, valued between 2.5 and 4 million pounds.
Instead, on 3rd February a limited but very interesting group of impressionist and modern works, 39 lots by sensational names, will be auctioned at Sotheby’s London venue. One of the highlights is Kirche in Cassone (Landschaft Mit Zypressen) by Gustav Klimt, one of the Austrian master’s most important landscapes present on the market. Estimated at 12-18 million pounds, this jewel of art was bought in 1914 by Viktor and Paula Zuckerkandl, and then mysteriously disappeared in Vienna during the Nazi period and “reappeared” only a few decades later.
Another extraordinary work in the “Impressionist & Modern Art Evening” is Homme qui marche I by Alberto Giacometti, one of the artist’s most appreciable sculptures to have been on the market (estimate 12-18 million pounds).
Besides Klimt and Giacometti, the attention of art collectors and lovers will be attracted by Pichet et fruits sur une table by Paul Cèzanne (1893-94), valued at 10-15 million pounds, but also Sitzende frau mit violetten strumpfen by Egon Schiele (estimate 3-5 million pounds).
There is an interesting selection of works from the Fauves and Expressionist period, artistic movements which have recently enjoyed the favour of regular visitors of the most renowned auction houses. Indeed, in the last period the number of buyers incited to buy modern masterpieces has increased, in particular for Fauves authors and expressionist artists such as Van Dongen, Kirchner and Matisse. Sotheby’s is presenting a work by the latter artist, Femme Couchée, with an estimate between 3.5 and 5.5 million dollars. A magnificent example of subject by the French artist who throughout his career painted many women lying in domestic environments.  
The sale also includes Le Beau Navire (estimate 2.5-3.5 million pounds), a mysterious composition by the surrealist Renè Magritte, in which a female nude is identified with the sky in the background.
Among the most appreciable sculptures offered in the catalogue of Sotheby’s Evening Sale there is Reclining Figure by Henri Moore, a bronze dated 1982 and valued between 2.5 and 3.5 million pounds, but also a second work by Alberto Giacometti, entitled Petis buste sur colonne (estimate 1.8-2.5 million pounds).

Arcadja Auctions
Skim here through the auction at Christie’s – London, February 2nd 2010

Arcadja Auctions
Skim here through the auction at Sotheby’s – London, February 3rd 2010

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