Jean-michelBasquiat

Basquiat and Others Beat Minimum at Phillips de Pury Art Auction

The action was small at only $9.6 million, but big names were featured at the Phillips de Pury art auction on Friday night. Donald Judd and Jean-Michel Baquiat went under the gavel and home with collectors for the third auction in a row. This follows solid results at Christie's and Sotheby's, marking a distinct turn in the fortunes of the art market.

Phillips de Pury didn't match Sotheby's and Christie's in terms of above-estimate totals and older works, but that really is the norm. So, I wouldn't view the fact that it only hit the middle of its presale estimate pessimistically. Given what was sold earlier in the week at the larger houses, the Phillips sale does nothing but confirm the direction of the art market.

Established artists did continue to rise aove the fray, with Judd's 1987 sculpture, "Untitled (87-29 Studer)," selling for £735,650. Basquiat's "Cash Crop" landscape and collage "Untitled" were the second best sellers behind Judd's work at £713,520 each. All beat their low-end estimates of £600,000.

There was a concern that Phillips would struggle to attract buyers, particularly because the auction was focused on living artists. While the challenge may not have been evident from the fact that 86 percent of the lots sold, it was confirmed by the tendency of them to move at the low end of the presale range.

Source

Tags: art auction, art auctions, art market, ArtAuction, ArtAuctions, ArtMarket, auction house, auction houses, AuctionHouse, AuctionHouses, basquiat, Christies, ChristiesAuction, ChristiesAuctionHouse, donald judd, DonaldJudd, jean-michel basquiat, Jean-michelBasquiat, phillips de pury, PhillipsDePury, Sotheby, sothebys

High Hopes for London Art Auctions

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

The London art auctions are upon us, and a year has made a hell of a difference. The auctions at Christie's, Sotheby's and Phillips de Pury are expected to fetch at least $104 million, which would be an increase of 68 percent over the same season in 2009. If the houses can pull this off, the art market will probably breathe a collective sigh of relief after more than a year of downright awful results.

At this point last year, the art market was in miserable shape. It was already in trouble, as the recession had begun to crystallize over the summer of 2008, a process which was hardened by the financial market meltdown in September. By the end of the year, prices had plummeted, and the practice of guaranteed minimum pricing had generally been abandoned.

By the end of 2009, signs of a recovery began to emerge, though few were willing to commit to it. A few pieces, such as Andy Warhol's "200 One Dollar Bills" turned in strong performances, but nothing was solid enough to call a trend. Nonetheless, hopes are high for the next round of sales, which will include museum-caliber paintings by Peter Doig and Yves Klein. Shown at right is Andy Warhol's Dollar Sign estimated at $1,950,000 - $2,925,000 at Christie's London Post War and Contemporary Art Evening Auction on February 11.

Tags: andy warhol, AndyWarhol, art auction, art auctions, art collecting, art collection, art collector, art market, ArtAuction, ArtAuctions, ArtCollecting, ArtCollection, ArtCollector, Artists, ArtMarket, artwork, auction house, auction houses, AuctionHouse, AuctionHouses, basquiat, Christies, damien hirst, DamienHirst, england, jean-michel basquiat, Jean-michelBasquiat, Jeff Koons, JeffKoons, london, lucian freud, LucianFreud, peter doig, PeterDoig, phillips de pury, PhillipsDePury, sothebys, yves klein, YvesKlein

Continue reading “High Hopes for London Art Auctions”

Artists to Watch in 2010

by Tom Johansmeyer (RSS feed) —

Filed under: Art

What does 2010 have in store for the art market? Well, it's starting to look like this is the year the market will finally (begin to) recover, though there could be some trepidation at points. Better pieces are coming under the gavel, and serious collectors are interested in artists with real track records. As things loosen up, emerging artists and those just past that stage (think Ben Krell for the former and Nelson Diaz for the latter) will start to see better conditions, as the logjam in the auction houses, once broken, should ease the pressure on galleries and also lead to some progress in private sales. Basically, the return of liquidity to the art market will be better for everyone.

Almost everyone.

This year, some artists won't enjoy as much of the recovery (if it happens ... just to hedge our bets) as others. Their prices were run up too quickly, making the subsequent fall severe. These artists, auction darlings who don't have the history or potency of a Lucian Freud or even a Richard Prince. Yet, they shot out of the emerging artist category years ago. In 2010, these artists, including Damien Hirst and Jeff Koons, will occupy something of a purgatory, as the art market resets values through upward bidding, now that the decks have been washed clean.

Source

Tags: art auction, art auctions, art market, ArtAuction, ArtAuctions, ArtMarket, banksy, BanksyGraffiti, basquiat, china, damien hirst, DamienHirst, england, francis bacon, FrancisBacon, jean-michel basquiat, Jean-michelBasquiat, Jeff Koons, JeffKoons, london, lucian freud, LucianFreud, phillips de pury, PhillipsDePury, richard prince, RichardPrince, sothebys

Continue reading “Artists to Watch in 2010”

Art Basel Is Fun Again

by Tom Johansmeyer (RSS feed) —

Filed under: Events, Art

Art Basel was fun again this year. After a recession-stained climate last year led to toned down partying, collectors and dealers (and everyone else) was back in style this time around. According to the Wall Street Journal, it seemed like everyone was throwing a party this year, with the likes of Larry Gagosian and Lance Armstrong getting in on the action. And, the parties didn't suck. Hosts went all out -- with live music and other attractions -- to separate themselves from the competition. Some even tried something new, with the words "Everybody has a Damien Hirst" uttered.

Of course, there were enough celebrities in supply to ensure that every host had one to boast about. Scott Stapp, lead singer of Creed, and Russell Simmons, for example, were present at the Mondrian South Beach Hotel. Simmons is a committed collector of works by Jean-Michel Basquiat and Barbara Krueger and was in town to raise money for his charity, Rush Philanthropic Arts Foundation.

An after-party hosted by Julian Schnabel's art dealer son, Vito, attracted some big names, as well. Peter Brant, an art collector who recently tried to move "Brother Sausage" by Basquiat at auction, was there, along with Abby Rosen.

Yet, there were more intimate dinners and cocktail parties than in past years, according to Art Basel regulars. A few corporate sponsors still made the plunge, including UBS, NetJets and Cartier.

Source

Tags: art, art collecting, art collection, art collector, art dealer, art exhibit, art exhibits, art fair, art show, ArtCollecting, ArtCollection, ArtCollector, ArtDealer, ArtExhibit, ArtExhibits, ArtFair, ArtShow, basquiat, cartier, damien hirst, DamienHirst, jean-michel basquiat, Jean-michelBasquiat, julian schnabel, JulianSchnabel, Lance Armstrong, LanceArmstrong, Larry Gagosian, LarryGagosian, miami, miami beach, MiamiBeach, NetJets, Parties, peter brant, PeterBrant, russell simmons, RussellSimmons, Scott Stapp, ScottStapp, south beach, SouthBeach, ubs, UbsAg

Massive $12 Million Basquiat on Offer at Christie's

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art

On Nov. 10 Christie's in New York will auction off an epic 15-ft. wide Jean-Michel Basquiat painting as part of its Post-War and Contemporary Art sale. The painting is expected to fetch up to $12 million. Brother Sausage (detail above), painted in 1983 and featured on the cover of Basquiat's catalogue raisonné, is a cartoon strip-like composition of six panels hinged together to form a narrative frieze of multiple drawings and Xeroxed overlays, each laden with themes of racial inequality and prejudice, wealth and corporate greed in a fame and consumer-obsessed American. Christie's notes the work is "steeped in Basquiat's signature style, raw energy and ingenious, loaded layering," exemplifying the artist at the pinnacle of his career. Also included in the auction are Andy Warhol's Tunafish Disaster, painted in 1963 and estimated at $6 - $8 million; and Jeff Koons' Large Vase of Flowers from 1991, estimated at $4 - $6 million.

[via JustLuxe]

Tags: Andy Warhol, AndyWarhol, Christies, contemporary art, ContemporaryArt, Jean-Michel Basquiat, Jean-michelBasquiat, Jeff Koons, JeffKoons, New York, NewYork, painting

Bargain Basquiat at Christie's London Sale

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art

Reflecting the lower prices for contemporary art brought on by the recession, there are some relative bargains to be had at Christie's Post-War & Contemporary Art auction in London on June 30. Chief among them is Jean-Michel Basquiat's Red Skull (above), painted in 1982 and estimated at only $2.4 million - $3.2 million. Other potential steals include Richard Prince's Country Nurse, est. at $2.4 million - $3.2 million; Jeff Koons' Moustache, est. at $1.9 million- $2.8 million; Francis Bacon's Study for Portrait, est. at $1.2 million - $1.9 million; and Andy Warhol's Self-Portrait, est. at only $800,000 - $1.2 million. The results will no doubt be closely monitored by art world insiders.

Tags: Andy Warhol, AndyWarhol, Christies, Francis Bacon, FrancisBacon, Jean-Michel Basquiat, Jean-michelBasquiat, Jeff Koons, JeffKoons, Richard Prince, RichardPrince

Metallica Drummer to Auction $12 Million Basquiat

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art

Metallica drummer Lars Ulrich is selling a massive 8-ft. wide Jean-Michel Basquiat painting at Christie's in New York on Nov. 12, where it's expected to fetch about $12 million. Untitled (Boxer) (above), painted in 1982, is an important "proxy self-portrait,'' Brett Gorvy, Christie's international co-head of postwar and contemporary art, tells Bloomberg. "The black artist as defiant hero.'" In 2002, Ulrich, a noted collector, sold Basquiat's 1982 Profit I at Christie's for $5.5 million. In July, Irish rock band U2 sold the artist's Untitled (Pecho/Oreja) for $10.1 million at Sotheby's in London. The auction record for a Basquiat work was set at Sotheby's in New York last year with the $14.6 million sale of 1981's Untitled.

Tags: Basquiat, Christies, Jean-Michel Basquiat, Jean-michelBasquiat, Lars Ulrich, LarsUlrich, Metallica, U2

Bacon, Basquiat, Prince and Warhol Star in Sotheby's Sale

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art

Not to be outdone by archrival Christie's, Sotheby's is staging its own major Contemporary Art auction in London on July 1st. With total pre-sale estimates topping $130 million, the event is being billed as "the highest value summer sale of contemporary art ever held by Sotheby's in Europe." The untitled Jean-Michel Basquiat painting belonging to Irish rockers U2 that my colleague Deidre Woollard mentioned earlier this month is a top draw in the auction, with an estimate of $8 - $12 million.

Other highlights include two important works by Francis Bacon: Figure Turning, painted 1962, est. $20 - $30 million, and Study for Head of George Dyer, painted in 1967, est. at over $16 million. Rounding out the other notable big-ticket items are Richard Prince's Overseas Nurse, 2002, est. at $8 - $12 million - more than the current Prince auction record; and Andy Warhol's 1964 Large Campbell's Soup Can (pictured right), est. $5 - $7 million. Also of interest: tennis great John McEnroe is selling his 1986 Warhol portrait with ex Tatum O'Neal, est. only $500,000 - $700,000. See the gallery for images.

Gallery: Sotheby's Summer Sale

Tags: Andy Warhol, AndyWarhol, Contemporary art, ContemporaryArt, Francis Bacon, FrancisBacon, Jean-Michel Basquiat, Jean-michelBasquiat, John McEnroe, JohnMcenroe, Richard Prince, RichardPrince, Sothebys, U2

Rare Never Exhibited Bacon on Offer at Christie's

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art

A rare Francis Bacon triptych that has never before been seen in public and has never been offered at auction is expected to fetch over $20 million during Christie's Contemporary Art Sales in London at the end of the month. Painted in Paris in 1975, Three Studies for a Self Portrait (above) is similar in character to the Bacon triptych that sold for $28 million at Christie's last month. Also starring in the sales on June 30 through July 1: Lucian Freud's Naked Potrait with Reflection, one of the most important works by the artist ever to be offered at auction, est. $20 million - $30 million; Jeff Koons' Balloon Flower (Magenta), 1995-2000, the most important Koons work ever offered at auction in Europe, est. about $25 million; Andy Warhol's Nine Multicolored Marilyns, est. $5 million - $7 million; and Jean-Michel Basquiat's Trunk, painted in 1982, est. $2 - $3 million.

Gallery: Christie's Summer Sale

Tags: Andy Warhol, AndyWarhol, Christies, Contemporary art, ContemporaryArt, Francis Bacon, FrancisBacon, Jean-Michel Basquiat, Jean-michelBasquiat, Jeff Koons, JeffKoons, Lucian Freud, LucianFreud, Marilyn Monroe, MarilynMonroe

Christie's $400 Million Contemporary Art Auction

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art

On May 13, Christie's New York will stage an incredible Post-War and Contemporary Art sale that could realize close to $400 million. Several museum-quality works are on offer among the 57 lots, and Christie's expects several records to be set. Highlights include Francis Bacon's 1976 Three Studies for Self -Portrait, estimated at $25 - $35 million; a morbidly obese Lucian Freud nude, billed as the most important Freud painting ever offered at auction, also est. $25 - $35 million; Willem De Kooning's 1975 Untitled IV, est. $10 - $15 million; several major works by Andy Warhol including his 1962 Campbell's Soup Can (Pepper Pot), est. $6 - $8 million, and his 1986 Self-Portrait, pictured here, est. $2.5 - $3.5 million; Jean-Michel Basquiat's 1987 Victor 25448, est. $4.5 million - $6.5 million; and many more. Some story-hungry members of the press may be rooting for an art market crash, but we're not buying it.

Gallery: Christie's Contemporary Art Auction