pablo picasso

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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Most Expensive Painting Goes On Display In The UK

by Deidre Woollard (RSS feed) —

Filed under: Art

Picasso's Nude, Green Leaves and Bust stunned the world when it sold at Christie's New York last May for $106.5 million. Now the Telegraph reports that the most expensive painting ever sold at auction is on display for the first time in the UK at the Tate Modern. The painting was done in 1932 during Picasso's very fruitful year when he did a series of paintings of his mistress and muse Marie-Therese Walter. Picasso first saw young Marie-Thérèse on the streets of Paris in 1927, when she was just seventeen years old. Because of her age and the status of his marriage to Olga Khokhlova the relationship was kept quiet for several years. This painting was part of a colorful explosion of works painted in January 1932 in anticipation of the major retrospective that he was planning. The Steve-Wynn-owned painting Le Reve is from this period as is La Lecture which sold for over $40 million earlier this year. The painting has been lent to the gallery by a private collector and will have pride of place in the new Pablo Picasso room in the Poetry and Dream wing on Level 3 of the building.

Tags: Microsoft, museum exhibit, pablo picasso, tate modern

Picasso's La Lecture Sells Above Estimate

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Art

A portrait of Picasso's mistress reading led the sales results Sotheby's Impressionist & Modern Art Evening sale on Tuesday night in London. Pablo Picasso's iconic 1932 painting of Marie-Thérèse Walter, La Lecture was hammered down at £25,241,250 ($40,711,612) more than double the low estimate of £12 – 18 million. The bidding ended after a spirited battle among at least seven bidders, both on the phone and in the salesroom. It sold to an anonymous buyer bidding over the telephone. The sale brought in a total £68,834,400 falling neatly within the pre-sale estimate of £55,630,000 - 79,250,000. The sale was 84.5% sold by value and the average lot value for the works was £2.15 million/ $3.5 million.

Last year another painting from the same year also featuring Picasso's beloved mistress Marie-Therese Walter, Nude, Green Leaves, and Bust, sold for $106.5 million at Christies setting a record for Picasso and for any artwork sold at auction. La Lecture was acquired by the present owner in 1996.Picasso first saw young Marie-Thérèse on the streets of Paris in 1927, when she was just seventeen years old. Because of her age and the status of his marriage to Olga Khokhlova the relationship was kept quiet for several years. This painting was part of a colorful explosion of works painted in January 1932 in anticipation of the major retrospective that he was planning. The famous Le Reve which is currently owned by Steve Wynn is also from this highly fertile time period.

Helena Newman, Chairman, Sotheby's Impressionist & Modern Art Europe reported that buyers came from 11 countries, with bidding from Asia, Russia, the US and Europe. Other highlights includes a sculpture by Marino Marini which sold for £4,185,250 and Henry Moore's important large-scale Reclining Connected Forms which brought in £2,057,250. A new auction record was achieved for a work on paper by Surrealist artist René Magritte with the sale of Le Maître d'École for £2,505,250. The gouache on paper depicting Magritte's iconic bowler-hatted man sold for over double the pre-sale estimate of £800,000 – 1.2 million and double the previous record for a work on paper. A record price in sterling was also reached for Giorgio Morandi's Natura Morta, which sold for £1,385,250 against an estimate of £800,000- £1.2 million.

Tags: art, auctions, marie-therese walter, pablo picasso, picasso, sothebys

1932 Picasso Portrait of Young Mistress Going Up for Auction

by Rigel Celeste (RSS feed) —

Filed under: Auctions, Art

A 1932 nude portrait by Picasso of his young lover and muse Marie-Therese Walter went on display this week at Sotheby's in Paris and will be auctioned off next month with an expected sale price of $19-$29 million. "La Lecture" or "Reading" was painted during Picasso's "lovestruck" period and depicts Marie-Therese sleeping in an armchair with her head back and an open book on her lap. "In the early 1930s he was very lyrically in love and reflected that in these gorgeous colors, and lovely compositions," said Philip Hook, Director of the Impressionist and Modern Picture Department at Sotheby's in London. "This period is just about the most desirable of all Picasso's (periods), certainly in market terms."

The painting will be the premier offering at next month's Impressionist and Modern Art sale in London.

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Tags: art, pablo picasso, picasso, sothebys

Lampe Berger Opens Pop Up Boutique in New York

by Carrie Coolidge (RSS feed) —

Filed under: Decor, Holiday Guides, Celebrity Design, Luxury Shopping

Lampe Berger opens new pop up store on Madison Avenue in Manhattan

Lampe Berger, the 110-year old French luxury home fragrance company has opened a pop up store in New York. The boutique features the complete range of Lampe Berger's latest cutting edge technology with products that deodorize, create beautiful scents and decorate the home with exquisite designs.

"This Pop Up Store gives us the perfect opportunity to create an enticing, luxurious environment in which to share the Lampe Berger experience with the people of Manhattan," says Cherry Robinson, Lampe Berger Vice President of Marketing and Sales.

Lampe Berger's beautiful signature lamps, each a work of art in itself, are available for purchase as well as its exquisite home fragrance collection---just in time for anyone searching for a truly unique gift to give a friend of loved one for the holidays. Lampe Berger products create an atmosphere where undesirable odors are banished, leaving an environment that is delicately scented. Its new scent-release system known as "catalysis" provides clean and beautifully scented air at home.

The first Lampe Berger lamp was created in 1898 by Maurice Berger, a pharmacy dispenser, to purify the air in hospital wards. By 1930, as fragrances were skyrocketing in popularity around the world, the company's dispensers, known as "lampes" had become a collector's item. Early collectors included artists Jean Cocteau and Pablo Picasso. Lampe Berger is known for its many innovations, many of which are patented around the world.

Gallery: Lampe Berger Opens Pop Up Boutique in Manhattan

Tags: home fragrance, Jean Cocteau, Lalique, lampe berger, Maurice Berger, Pablo Picasso, shopping

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The Case of The Electrician and Pablo Picasso

by Deidre Woollard (RSS feed) —

Filed under: Art

Tags: art, Pablo Picasso, picasso, pierre le guennec

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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

Albertus Swanepoel Brings Spice to Stetson

by Annie Scott (RSS feed) —

Filed under: Apparel, Men's Style

Even if you've already got an iconic, American-made Stetson hat, you probably don't have one like this.

Though the classic Stetsons will always be available and you may think there's nothing new (or at least nothing new that's not ridiculous) in the world of hats, Albertus Swanepoel's 2010 collection has rendered us speechless. These fabulous, spicy hats are masculine and creative, with lush materials and colorful, yet handsome plumage.

"It's a great honor to collaborate with a legacy brand such as Stetson. They are the Rolls Royce of hats to me in America and I'm thrilled to be associated with this brand," said Swanepoel. "This is also is a great opportunity for me to inject a more modern sensibility into their iconic designs."

And that he did. Inspired by everything from vintage cars to modern films and even art, he has created an alluring collection of attractive hats that appeal to ages 8 to 80. Above, for example is the "Pablo," a 100 percent fur felt pork pie dress hat which has coloring and an unusual bow placement influenced by the works of Pablo Picasso (retails for $200.00). Fewer than 50 of this hat will be made.

Select styles from the limited edition Albertus Swanepoel for Stetson collection are available now from Hartford York for pre-order, to ship in September, and will be available at Barneys stores nationwide. Check out the full 14-hat collection -- and their inspirations -- below.

Gallery: Albertus Swanepoel for Stetson

Tags: albertus swanepoel, hat, hats, pablo picasso, picasso, stetson

Picasso Among Works of Art Stolen from Paris Art Museum

by Carrie Coolidge (RSS feed) —

Filed under: Auctions, Art

A valuable Pablo Picasso painting was stolen early this morning from the Paris Museum of Modern Art by a masked thief. The robber also stole four other important works of art with total value estimated to be somewhere between $120 million and $616 million, according to Paris enforcement officials.

The stolen works of art that were cut from their frames include Picasso's The Pigeon with the Peas, Amedeo Modigliani's Woman with a Fan, Georges Braque's Olive Tree near Estaque, Henri Matisse's Pastoral and Fernand Leger's Still Life with Chandeliers.

Indeed, a similar theft took place in 1990 at Boston's Isabella Stewart Gardner Museum. The 13 stolen works of art that were cut from their frames have yet to be recovered. The museum is offering a reward of $5 million for information leading to the recovery of the missing works in good condition.

The theft comes only a few weeks after Picasso's 1932 masterpiece, "Nude, Green Leaves, and Bust" was sold for $106.5 million, a world record auction price for any work of art. The painting, which was from the collection of Mrs. Sidney F. Brody, was sold by Christies New York.

Tags: art, art theft, Christies, france, Isabella Stewart Gardner, Modigliani, Pablo Picasso, paris, Picasso, theft

The Classicist: Rash of New World Records Says "The Rich Are Back"

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Timepieces / Watches, Luxury Cars & Autos, Auctions, Art, The Classicist, Wealth

Following an incredible number of record-breaking sales of some of the world's most expensive items, from cars to art to watches, diamonds and estates, that have taken place just in the past two weeks, we are hereby making an official declaration: The Rich Are Back. While the economic recovery has been slow to materialize in some quarters, those with the money to make multimillion-dollar purchases are suddenly not shy about dropping the coin. The megabucks deals mean an optimistic outlook has finally taken a firm hold, and the wealthy no longer feel the need to pinch their pennies in the fear that more hard times could be lurking right around the corner. We say it's about time too.

In one hectic twelve-day period, from May 3 to May 14, we saw the record-breaking sales of a $106 million Picasso painting; a $50 million mansion in Bel-Air; a $46 million ranch in Colorado; a $40 million Bugatti; a $32 million Warhol self-portrait; a $26 million Jasper Johns painting; an $18 million Ferrari; an $8 million blue diamond; and a $5 million Patek Philippe chronograph – about $330 million worth of the world's most expensive possessions. The astonishing sales have given an immediate boost to the art, classic cars, real estate and collector's timepieces markets, many of which faltered in the wake of the economic downturn, losing billions of dollars in value. Here's a rundown of the nine history-making deals as they unfolded over the twelve-day whirlwind of wealth disbursement; see the gallery for images:

Gallery: The Return of the Rich

Picasso, <i>Nude, Green Leaves, and Bust</i>

Tags: Andy Warhol, art, auction, Bel-Air, Bootjack Ranch, Bugatti, Chris Evans, Christies, chronograph, classic cars, Colorado, contemporary art, diamond, estates, Ferrari, Ferrari 250 GTO, Jasper Johns, Michael Crichton, Pablo Picasso, Patek Philippe, Picasso, ranch, real estate, The Rich, world record, worlds most expensive

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$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

Hidden Art Collection Will Finally Reach Auction

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

A collector's hidden art stash could be good for as much as $26 million. The collection, which had been owned by Ambroise Vollard, will be sold at Sotheby's sales in May and June. It's been hidden in a bank vault for four decades, and now people have shot at buying works by Pablo Picasso, Paul Cezanne and Andre Derain.

Derain's piece, shown above, is the top lot in the collection, a landscape that is estimated with a low end of $13.9 million and the potential to go over $20 million. It heads under the gavel on June 22, 2010 at Sotheby's in London. The following week, in Paris, 140 paintings, drawings, prints and books once belonging to Vollard will be sold, with a presale estimate staring at $3.4 million.

The 141 pieces in the collection were tossed in a Societe Generale vault in Paris by Vollard's associate, Eich Slomovic, in 1939. That's the year Vollard died car crash). Slomovich, who was given the collection to sell on consignment, died in 1942 (cause of death: NAZIs). The vault was opened in 1979 and was scheduled that year for auction. Legal challenges, however, kept the collection in limbo until 2006.

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Tags: art auction, art auctions, art market, auction, auction-house, AuctionHouses, auctions, cezanne, london, Pablo Picasso, paris, picasso, sothebys

Picasso Revealed and Revered at the Met

by Bobbie Leigh (RSS feed) —

Filed under: Events, Art

You think you've seen it all? Not a chance. Picasso may be the most researched artist of all time, even his laundry receipts have been studied, but the new exhibition at New York's Metropolitan Museum of Art yields something new at every turn. "Picasso in the Metropolitan Museum of Art" showcases some 300 works, the museum's complete collection of the artist's paintings, drawings, sculptures, ceramics, and works on paper.

The show's magic comes from its all encompassing range starting with a 1900 self-portrait of Picasso at 19 (and yes, he was a knockout) and ending with an exuberant musketeer, painted when he was 87. What's totally new and positively riveting are a series of10 videos that demonstrate how Picasso worked, reworked, and revised. Just one example is his melancholy 1901 "Woman Ironing," depicting a sad-faced woman pushing down vigorously on one of those heavy irons that had to be heated on a hot stove. The Met's technical team revealed that originally her knuckles were visible and the slope of her neck was amended. The scientific analysis also showed that there is a totally different composition beneath the final painting. One theory is that either Picasso or another artist painted the earliest version. Now, totally restored, it is a supreme example of Picasso's one time conviction that "art emanates from sadness and pain."

Tags: art exhibit, art exhibits, metropolitan museum of art, Pablo Picasso, picasso

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May Art Auctions Likely to Bring Back Excitement

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

The May art sales are coming, and I, for one, can't wait to see what happens. The art market took an exciting turn at the end of 2009. Prices appeared to be on the mend, though nobody was willing to believe it fully – not after the tumult experienced for the year and a half before it. Tentative steps gave way to optimism at the beginning of this year, leading many to accept that the art market is coming back. Collectors opened their wallets. Auction houses put better works on the block. Everything looked good.

Unfortunately, there hasn't been much action in the major categories since February. This is strictly a function of the auction seasons. Sure, we've had the Armory Show in New York and Phillips de Pury's anemic sex-themed auction, but this doesn't scratch the big-money art market itch. At the beginning of March, Sotheby's moved Andy Warhol's "Self Defense" for $420,000, well ahead of the presale estimate of $250,000 to $300,000. Christie's pushed "Two Jackies" for $446,500, more than 10 times more than the low-end presale estimate of $40,000. Yet, without piercing the million dollar mark, it's hard to capture anyone's imagination.

So, we've had to wait – and will have to continue to do so until May. In the meantime, anticipation has been mounting. What's coming up next?

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Tags: andy warhol, art, art auction, art auctions, art market, artist, Artists, arts-culture, auction house, auction houses, Christies, Pablo Picasso, Sotheby, sothebys