raphael

Drawings Steady in Global Art Market

Filed under: Art

Like the broader art sector the prices of drawings rose through the bubble and fell during the financial crisis. According to Artprice, however, drawings resisted much of the insanity on the way up and was thus protected on the way down. By the art market peak, this medium picked up a price increase of only 27 percent, compared to 93 percent of contemporary art from 2002 through 2008. Since the broad market decline, drawings have fallen only 11 percent, while the global art index plummeted 36 percent (as of October 2009). Last year, the number of drawing sold actually increased by 10 percent, standing out in a dismal art market.

Old Master drawings have brought new life to the sector, particularly thesale of Raphael's "Head of a muse," which sold for £26 million at Christie's last December, setting a world record. The Chinese market is helping the sector along, as well, with the copious capital it brings to the market.

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Tags: art market, bubble, Christies, drawings, Old Masters, raphael

Raphael, Rembrandt and More At Christie's Old Masters Sale

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

It's still possible to set a record in this art market; it just takes an amazing lot from a far-off period in time. On December 8, 2009, a drawing by Italian renaissance artist Raphael will go under the gavel. The piece is expected to pull in a world record $19.7 million. The 12-inch drawing (in black chalk) will be auctioned by Christie's at its Old Masters auction. It was a study used for a muse in Raphael's fresco of Parnassus, which is in the Stanza della Segnatura in the Vatican. This is the highest quality piece by Raphael to come to auction since the 1980s.

Christie's is selling the Raphael drawing on behalf of an anonymous private collector, though it's been owned in the past by Sir Thomas Lawrence and King William II of Holland. It hasn't shown up at auction in more than 150 years. The history associated with this piece, as well as the piece itself, are what make it a threat to the record of 8.1 million pounds paid for the drawings "The Risen Christ" (Michelangelo) and Leonardo da Vinci's "Horse and Rider." They sold in July 2000 and July 2001, respectively.

The drawing was completed between 1508 and 1511 at the request of Pope Julius the II. The artist died in 1520 at the age of 37.

The sale will feature other major works including a masterpiece by Rembrandt, shown at right. Unseen in public for almost 40 years and offered at auction for the first time since 1930, Portrait of a man, half-length, with his arms akimbo, 1658, is offered from a distinguished private collection and is expected to bring in £18 million to £25 million. One of the most significant Old Masters to be offered in recent years. Saint John the Evangelist by Domenico Zampieri, called Il Domenichino (1581-1641), will be presented for sale for the first time in over 100 years. It is expected to sell for £7 million to £10 million.

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Tags: art, art auction, art auctions, art market, ArtAuction, ArtAuctions, artist, ArtMarket, artwork, auction, auction-house, auctionhouse, auctions, christies, leonardo da vinci, LeonardoDaVinci, michelangelo, raphael, vatican, vaticancity