modern art

EXCLUSIVE: Abramovich Said to Be Owner of World's Most Expensive Painting

Filed under: Art, Wealth

EXCLUSIVE: Abramovich is Likely Owner of World's Most Expensive Painting

When we first reported back in May that Pablo Picasso's 1932 painting Nude, Green Leaves, and Bust (above) had sold for a record-breaking $106.5 million at Christie's we heard whispers that the buyer was a certain Russian oligarch known for his eye-popping acquisitions: Roman Abramovich. Now that the world's most expensive painting has been lent to the UK's Tate Modern museum by the unnamed "private collector" who bought it (as my colleague Deidre Woollard reported), a strong indication that the owner is based in London where Abramovich spends most of his time, we're hearing them louder. [cont'd]

Gallery: Record-Breaking Art

Tags: abramovich, art, art auction, art collectors, auction, billionaire, chelsea, London, modern art, most+expensive+painting, mostexpensivepainting, museums, oligarch, Pablo Picasso, Picasso, Roman Abramovich, Russian billionaires, Tate Modern, UK, wealth, world record, worlds most expensive, worlds most expensive painting

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Modigliani Painting Sets Record

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Art

While most of America was watching election results last night, a few were focused on the art market and specifically on the lady shown above, Modigliani's "La belle Romaine" which garnered a record-setting $68.9 million at Sotheby's in New York City. Sotheby's brought in a total of $227.5 million in the sale of Impressionist and modern art against pre-sale estimates of $195 million to $266 million. It was a nice jump over last year's $181 million sale and another sign of a potential art market recovery.

Amedeo Modigliani's 1917 portrait of a lovely, mostly undressed brunette sold to an anonymous telephone bidder. It was estimated to sell for as much as $40 million. The Wall Street Journal reports that the work's seller, Turkish banker Halit Cingillioglu, bought it for $16.8 million 11 years ago. Another Modigliani in the same sale, a 1917 portrait of the artist's lover, "Jeanne Hébuterne (in a Hat)," went for $19.1 million to a telephone bidder. Monet's "Water-lily Pond," also from 1917, sold for $24.7 million. Henri Matisse's 1942 "Dancer in a Chair, Checkerboard Floor" went for $20.8 million, over its $18 million high estimate.

Not every piece up for bid found a home, 15 of the sale's 61 pieces failed to sell. Matisse's 1934 lavender portrait, "Titine Trovato in Dress and Hat" was up for auction for the second time in two years but Sotheby's failed to sell the work yet again. Pablo Picasso's 1970 double portrait, "Man and Woman With a Bouquet" also went unsold. Matisse has another shot today when Christie's holds its major sale of Impressionist and modern art that includes Matisse's bronze "Back IV" sculpture which could bring as much as $35 million.

Tags: amedeo modigliani, art market, claude monet, Henri Matisse, impressionist art, matisse, modern art, modigliani, monetary policy, Pablo Picasso, sothebys

Borbonese & Roy Lichtenstein Handbag Collaboration

by Marsha Reid (RSS feed) —

Filed under: Handbags, Art

The Foundation of Pop Artist Roy Lichtenstein, has collaborated with Italian fashion house Borbonese to release a line of limited edition handbags showcasing the late artist's colorful work. Featured to the right is their Two Apples Tote. Traditonally, Borbonese has strayed away from such a colorful palette and has kept their luxurious line of handbags within more traditional colorways, but they has set aside their ususal classic aesthetic to bring you Lichtenstein in it's wild and vibrantly colorful form.

Lichtenstein's art and Borbonese's craftsmanship are beautifully coupled to make for an attention grabbing 12 piece collection of totes and clutches. Each one holds such a unique look. These bags would be ideal for the Summer given their fun loving nature and liveliness, but perhaps the Fall could also use a little burst of vibrancy too.

Gallery: Borbonese & Roy Lichtenstein Handbag Collaboration

Borbonese & Lichtenstein Self Portrait II Tote

Borbonese & Lichtenstein Two Apples Tote

Borbonese & Lichtenstein American Flag Clutch

Borbonese & Lichtenstein Little Big Painting Tote

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Tags: art, Borbonese, handbag, modern art, pop art, Roy Lichtenstein

$106 Million Picasso Sale Sets New World Record for Most Expensive Work of Art

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art

Last month The Classicist broke the news that a rarely-seen Picasso was expected to fetch up to $90 million at Christie's landmark Evening Sale of Impressionist and Modern Art, which took place yesterday in New York. Now the results are in and the painting, Nude, Green Leaves, and Bust (above) dated 1932, from the Collection of Mrs. Sidney F. Brody, was sold for a staggering $106.5 million to an unidentified telephone bidder, breaking the previous world record for any work of art sold at auction (set back in February when a Giacometti sculpture brought in $104.3 million). Yesterday's sale achieved a stunning $335.5 million in total. The Evening Sale portion of the Brody Collection also became the highest total for a single-owner sale offered at Christies New York, surpassing the landmark sale of the Collection of Victor and Sally Ganz sale in 1997. The 27 lots from the Brody Collection achieved $224.2 million.

Marc Porter, Chairman of Christie's Americas, commented: "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."

Tags: art market, auction record, Christies, Giacometti, Henri Matisse, modern art, most expensive art, Pablo Picasso, Picasso, world record

May Art Sales to Bring Records and Liquidity

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

The Impressionist and Modern Art sales on May 4 and 5, 2010 are likely to confirm a continued climb in art auction pricing. We're now six months or so into the badly needed upswing, and there's plenty of room for optimism. Not only are the presale estimates and sales on the way up, but the number of pieces being resold quickly is on the rise, as well. This means that there's a high degree of liquidity in the art market: collectors can sell easily and without worry (as long as the inventory doesn't suck, in which case there's no hope, of course).

The increase in art market liquidity is due in part to the return of guaranteed minimum pricing, in which the auction houses assume some sales risk for attractive or desirable pieces that they feel can beat the numbers and attract buyers and sellers of other strong works. According to ArtPrice, there are "tens of millions of dollars for major works" committed via guaranteed minimum pricing, indicating that confidence is up.

It's the price guarantees that have led to the arrival of some strong pieces at the early may auctions this year, including pieces from the collections of Mrs Sidney Francis Brody, Raymond and Miriam Klein, Bernard Goldberg and Michael Crichton. Brody's works alone could fetch up to $150 million. The high estimate for Christie's is $300 million, a target that doesn't include the top lot, "Nude, Green Leaves" by Pablo Picasso, which as Jared Paul Stern revealed in a recent column is expected to bring in as much as $90 million. Other artists with eight-figure estimates include Henri Matisse, and Alberto Giacometti.

Don't just look for good news – also a expect a few records to b set. Sotheby's has high hopes for pieces by Salvador Dali and Auguste Rodin.

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Tags: alberto giacometti, art auction, art auctions, art market, artist, Artists, auction, auction houses, auction-house, auctions, Christie, Christies, ChristiesAuction, ChristiesAuctionHouse, contemporary, contemporary art, giacometti, Henri Matisse, impressionist, impressionists, michael crichton, modern art, Pablo Picasso, picasso, rodin, Salvador Dali, Sotheby, sothebys

The Classicist: $90 Million Picasso, Crichton Collection & More in Megabucks May Art Sales

by Jared Paul Stern (RSS feed) —

Filed under: Auctions, Art, The Classicist

May is shaping up to be a megabucks month for the art market with some of the world's most notable collections of modern and contemporary master works crossing the block. Topping the list is a rarely-seen Picasso that's expected to fetch up to $90 million at Christie's landmark Evening Sale of Impressionist and Modern Art on May 4th in New York. The painting, Nude, Green Leaves, and Bust (above) dated 1932, is from the Collection of Mrs. Sidney F. Brody of real estate fame. The Brody collection boasts a wealth of master works by the "towering figures of the Modernist movement", including Picasso, Henri Matisse, Alberto Giacometti, Georges Braque, Edouard Vuillard, Marino Marini, and Henry Moore. The total value of the works to be offered is expected to exceed $150 million, making it one of the most valuable single-owner collections ever offered at auction.

Other standouts from the sale include Matisse's Nu au coussin bleu, 1924, estimated at $20–30 million, and Giacometti's Grande tête mince, 1954, estimated at $25–35 million. The Brodys acquired the Picasso direct from the artist's dealers in the 1950s and made it the focal point of their expanding collection at their mansion in Holmby Hills. The painting has only been exhibited once in the United States, when the Brodys loaned it to the 1961 exhibition Bonne Fête Monsieur Picasso, a retrospective staged in honor of Picasso's 80th birthday that was sponsored by the UCLA Art Council. The upcoming sale preview on April 30 marks the first time in 50 years the work will be publicly displayed.

Gallery: Megabucks May 2010 Art Auctions

Tags: alberto giacometti, Andy Warhol, art auction, art market, Christies, contemporary art, eduoard vuillard, georges braque, Henri Matisse, Henry Moore, Jasper Johns, marino marini, Mark Rothko, Mark Tansey, Michael Crichton, modern art, modernist, mrs. sidney brody, New York, Picasso, Robert Rauschenberg, Roy Lichtenstein

Continue reading “The Classicist: $90 Million Picasso, Crichton Collection & More in Megabucks May Art Sales”

Giacometti on the Block: Family Collection to Move at Christie's in Paris

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

Surrealist, modern and postwar pieces will go under the gavel next week at the Christie's Impressioniste et Moderne auction in Paris. More than 140 lots will be offered on December 1, 2009, with presale estimates ranging from $6 million to $9 million. Among the artists represented in the auction, which consists of the Lefebvre-Foinet collection, are Alberto Giacometti, Max Ernst, Henri Matisse and Zao Wou-Ki. The collection was amassed over five generations, with the latest in the family making the decision to sell.

A portrait of Maurice Lefebvre by Giacometti could fetch between $1 million and $1.5 million, but other lots are more attainable. "Lyrical Explosion C," by Alberto Magnelli, is expected to sell for $210,000 to $270,000, and Sonia Delaunay's "Colored Rhythms No. 615" could go for up to $160,000. Playing on the success of the market for Chinese art, Zao Wou-Ki's "5.11.64" could move for as much as $600,000.

Paris has done pretty well through the art market slump, especially when the auctions deviate at least somewhat from the norm. Though there aren't any guarantees, let's keep an eye on this one. It could be the touch of fresh air we need.

[Photo via Christie's]

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Tags: art, art auction, art auctions, art market, ArtAuction, ArtAuctions, Artists, ArtMarket, artwork, auction, auction-house, AuctionHouse, auctions, Christies, contemporary art, ContemporaryArt, giacometti, matisse, max ernst, MaxErnst, modern art, ModernArt, paris, paris france, ParisFrance, PostwarArt, surreal, surrealism, surrealist, Zao

Rare De Kooning Painting in Upcoming Bonhams Auction

by Ariston Anderson (RSS feed) —

Filed under: Auctions, Art

"Flesh was the reason oil painting was invented," proclaimed Dutch-born painter Willem de Kooning in 1950. It's no secret the influence women had in his work or in his success. In the early 1950s de Kooning began experimenting with the female form and landscapes, until the two subjects became inseparable. His painting Woman I launched him into overnight stardom when it was exhibited in New York in 1953.

Bonhams New York is presenting a rare work from 1965 that stems out of this period, Woman in a Landscape, in their upcoming Contemporary and Modern Art Sale. The painting builds on his previous work, but also reveals later influences such as contemporary Hollywood stars and Mesopotamian fertility goddesses. While de Kooning's own inner demons are clearly present in this work, it remains one of his gentler, more romantic portraits of the female sex. The fully-executed painting is rare for this period of de Kooning's work, and is thought to be a study for his 1966-67 painting, The Visit, which is housed in the Tate collection.

Woman in a Landscape is estimated at $400,000-$600,000.

The public is invited for a pre-sale viewing and reception of all works in the sale:
Monday Nov 9th 6-8 PM
Bonhams
580 Madison Avenue
New York, NY 10022

Sale takes place November 10th at 12 PM.

For more information visit Bonhams.com/contemporary.

Tags: art, art auction, ArtAuction, bonhams, contemporary art, ContemporaryArt, modern art, ModernArt, new york auction, NewYorkAuction, willem de kooning, WillemDeKooning

Gap Founders Art Collection Finds A Home At Last

by Deidre Woollard (RSS feed) —

Filed under: Art, Big Givers, Wealth

Gap founders Donald and Doris Fisher have finally found a home for their art collection. The pair spent years trying to build their own museum in San Francisco's Presidio but dropped those plans after facing major opposition from residents and city officials. Instead the large collection of contemporary art will have a home at the San Francisco Museum of Modern Art.

It's a huge get for the museum, the collection is a 1,100-piece assortment of works by 185 contemporary artists with many fine pieces from Alexander Calder, Roy Lichtenstein, Chuck Close and Andy Warhol and could be worth nearly $1 billion. Donald Fisher released a written statement that said in part: "San Francisco is where we raised our family and opened our first Gap store, and we want to give back to the city we love by sharing the art that means so much to us."

The museum is already in the planning phase for a major expansion and the Fisher Collection will be on display in a new wing. Works from the collection will be shown with the museum's existing holdings in modern and contemporary art. The works will go into an art trust and the pieces will be on loan to the museum for 25 years. The first peek at the art will come next summer when some of the works are shown as part of the museum's 75th anniversary celebration.

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Tags: art, contemporary art, ContemporaryArt, don fisher, donald fisher, DonaldFisher, DonFisher, gap, modern art, ModernArt, san francisco, SanFrancisco, sf moma, SfMoma

New Art Is Emotional, Old Is Intellectual, According to New Study

by Tom Johansmeyer (RSS feed) —

Filed under: Art

Do you like contemporary art? A new study suggests that's because you've developed an emotional connection to it. If you prefer older pieces, on the other hand, your response is intellectual. The findings, published in Psychology of Aesthetics, Creativity and the Arts, from the University of Rome was based on 137 people who attended to local museums in Rome: the Braschi, which is home to pieces created through the middle of the nineteenth century, and the National Gallery of Modern and Contemporary Art. Essentially, how you feel about a piece is based largely on when it was created.

Both groups – the emotive and intellectual – stated that their reason for going to the museums was "an interest in the artists" and the opportunity to "see the artworks in the original." But, those opting for the National Gallery frequently responded that they enjoyed "the pleasure they feel during their visit," while those going to the Braschi cited a "desire for cultural enrichment."

Is it as simple as "modern art is to be enjoyed and the classics are to be appreciated?" It sure seems that way, as the response by those hitting the Braschi seem to equate it to taking the stairs rather than an elevator – it feels good because it's good for you. That said, there's no doubt that intellectual stimulation feels fantastic, so oversimplifying the reaction as some form of self-betterment is probably a tad unfair, especially since participants in both groups had high scores for "openness to new experience." The modern art lovers, though, did tend to lean toward "sensation-seeking."

The demographic breakdown is pretty interesting, as well. Most of the participants were women, and all generally had similar levels of education. But, those preferring the National Gallery were 10 years younger, on average, than those gravitating toward the classics.

[Photo by Steve Ferdman, Bauzen Studios]

What Kind Of Art Do You Prefer?
Modern	88 (40.9%)
Classic	127 (59.1%)

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Tags: art, art museums, ArtMuseums, classics, contemporary art, ContemporaryArt, entertainment-awards, entertainment-ipedia, entertainment-pedia, modern art, ModernArt, research, study

Damien Hirst's Golden Calf

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Art

Compared to his diamond-covered skull, Damien Hirst's latest work for sale, a bull in formaldehyde, with a head crowned by a solid-gold disc, and hooves and horns cast in 18-karat gold is practically a deal. The Golden Calf will be auctioned off at Sotheby's in New York in September and is estimated to bring in $16 to $24 million. The calf comes in a gold-plated stainless steel and glass box. The monumental piece is part of Beautiful Inside My Head Forever, a major auction of new works by Hirst, on September 15 and 16. The auction will include formaldehyde sculptures, new paintings, new cabinets and preparatory drawings,

Gallery: The World of Damien Hirst

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Tags: art, damien hirst, DamienHirst, modern art, ModernArt, sothebys

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