Highlights and Downfalls @ Sotheby’s Contemporary Art Auction Evening Results May 14, 2013

942N08991_XXXXX.jpg.thumb.385.385

Last night, some GREATNESS went down at Sotheby’s in NYC. For starters, Barnett Newman’s Onement VI (above) sold not only over the high estimate, but sold over the artists’s highest record at auction for his painting for 43,845,000 USD  (Hammer Price with Buyer’s Premium). 

428N08991_XXXXX.jpg.thumb.385.385

Gerhard Richter’s Domplatz (above) did not break the high estimate but still took in a hefty 37,125,000 USD. Not too shabby, Richter.

418N08991_6w2nt.jpg.thumb.385.385

Francis Bacon’s Study for a portrait of his lover did not sell. And I am not shocked – I even predicted this myself. Last time Bacon paintings were at auction with Sotheby’s (this year) they did not sell either. Perhaps this indicates people do not want to look at twisted psychological portraits of others… But I still respect Bacon. Maybe in a few years his work’s will pick back up in the auction world.

Well, while Sotheby’s was hoping to bring in close to 400 million with this auction, they barely made it to 300 million. But hey, that’s the art market. You never know what to expect. For the rest of the results check them out here. It is shocking to see Warhol, Basquiat, and even Rothko not selling. WHO DOESN’T WANT A WORK FROM ONE OF THESE FABULOUSSSSSS MEN? This is not to say the market is not in favour of them, for if anything, I believe these men, especially Basquiat currently is being highly sought after.

So right now all we have are these results. Until ze next auction!

And mazel to those who purchased some EXTRAORDINARY art.

Catch you later kids.

XX, DP

The Met Buys a David for $840 – Say What?!

david-met-sketch

On January 29, 2013 Swann Galleries in New York City had an auction of Old Masters. Super. Right? Well, if you are interested in those old dudes and traditional art genres. But the Met totally stole the show, after it happened. How?

Well they purchased a piece, The Death of Socrates, with a shaky provenance  “French School, Early 19th Century.” It was estimated to reach $700. But the Met got it for a higher price, but still a bargain, compared to what it is really worth – because the reality of it, is that it is an actual Jaques-Louis David (you know, that artist who painted the Oath of Horatii which can be found in the Louvre- picture below).

url

David created this work as a study for The Death of Socrates. And the Met purchased the original work in 1931.

SAY WHAT?! 

Keep your eyes open – you never know what you will come across.

XX, DP

Sotheby’s Evening Impressionist and Modern Art Auction Results: May 5 2013

Last night Sotheby’s in London had an evening sale of Impressionist and Modern Art (click on the link for all the results). One of the sale highlight’s was Picasso’s “FEMME ASSISE PRÈS D’UNE FENÊTRE” (painting above and to the left). The painting is that of Picasso’s muse Marie Therese-Walter, who representes sex and desire in 20th Century Art. Picasso creates her using curvilinear lines, unlike that of another one of his lovers, Dora Maar (above and to the right), whom he portrays in more geometric and linear terms – remember Picasso was a massive womanizer and had many lovers. “FEMME ASSISE PRÈS D’UNE FENÊTRE” piece sold for $41 million – not breaking the high estimate but still not too shabby.

An artist who did break almost all of his high estimates is Egon Schiele. Apparently his work is a hot commodity in today’s art world. His Self-Portrait (pictured above) “Green Shirt with Eyes Closed” (1914) sold for almost $8 Million, almost double that of his high estimate. Way to go Egon!

The next sale we are uber-excited for is the Evening Contemporary Sale on February 12, 2013! Can’t see what prices Basquiat, Bacon, and Richter reach!

XX, DP