For the best Barrons.com experience, please update to a modern browser. Blinky Palermo, Ohne Titel, 1970. A 1933 portrait of a child holding a stuffed teddy bear, titled Portrait de Mademoiselle Poum Rachou, by Art Deco darling Tamara de Lempicka sold for $7.8 million, against an estimate of $3.5 million. Elaine de Kooning, Charge, 1960 Courtesy Sotheby's. It quickly surpassed its on-request estimate of at least $25m thanks to a two-way bidding war between collectors on the phones with Sothebys head of private sales for the Americas Courtney Kremers and the auction houses senior vice president in New York Brad Bentoff. Courtesy of Christies Images Limited 2023. It last sold at auction in May 1987 for $520,000. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. The work beat its estimate by a staggering 350%, setting a strong early pace for the artists work at auction. And Joan Mitchells sublime Abstract Expressionist composition Untitled (1958) made $6.8m ($8.1m with fees) against an estimate of $7m to $10m. Like other sectors of the economy, its not even, Deitch says. Courtesy of Phillips. The piece sold for a final price of $19.7 million. This workwhich belonged to Brazilian financial services firm Fundao Itajust beat the previous $32.1 million record set in 2019 for a similar work, Spider (1997). It went to a bidder on the phone with Sothebys Mexico City office representative Lulu de Creel, who triumphed over two bidders in Hong Kong to win it. This copy is for your personal, non-commercial use only. Whitney Museum Sells Breuer Building to Sotheby's - The New York Times Modern Evening Auction | 2022 | Sotheby's Sothebys Europe chairman Oliver Barker takes bids on Tamara de Lempicka's Portrait de Romana de la Salle (1928) in 14 November's Modern Evening Auction in New York Courtesy Sotheby's. The sale opened dynamically, with sculptures by Jean Arp and Alexander Calder and a painting by the Pittsburgh-born modernist William Baziotes all exceeding their estimates. All rights reserved. In accordance with applicable MLS rules, IDX listings displayed on this site may be filtered by certain objective criteria, including price. If its coming up for sale at this moment, it means that there is someone who has been identified already as a potential buyer. In the end, there appeared to be exactly one someone interested in buying the Mondrian. Even with that high note, the evenings overall performance, while solid, lacked much fizz, according to Guy Jennings, a senior director of the London-based Fine Art Group. About Sothebys International Realty Affiliates LLC. This new situation is much more fun, says the dealer Jeffrey Deitch, who could be seen bidding at auctions throughout the week. Blitzing past Kahlos $8 million auction record, the work hammered on a bid of $31 million (just above its low estimate) to a client on the phone with Sothebys New York private sales representative Ana di Stasi. Courtesy of Sothebys. At Christies Fineberg sale, one of Wools striking, colorful word paintings was estimated at $15 million to $20 million, and sold for just $10 million with premiums. Grimly, the sales third-to-last lot appeared to benefit from the so-called death effect: Peinture 92 x 65 cm. Sotheby's Celebrates National Portrait Gallery's Reopening With So did unemployment. An ambitious exploration into high-end residential markets across the globe. Klimts shimmering lake-scape, Insel im Attersee (Island in the Attersee) (1901-02), was the top lot and sold to a Japanese telephone bidder for $46m ($53.1m with fees), a result squarely in line with the auction houses unpublished estimate of around $45m. that portrays the former German chancellor with a casual, welcoming look. The June 27 sale will be a relatively small, curated auctionin the neighborhood of 15 worksand will coincide with Sothebys modern and contemporary and Now evening sales in London. May Auctions Reveal Diverging Storylines Within Today's Art Market The market is very different today than it was in 1983, Jacoby said before the auction. Paintings by Christopher Wool, for instance, struggled to generate interest. The market is trying to find equilibrium because buyers are extraordinarily price sensitive.. This year, that number sank precipitously to just $403 million, nearly a 47% year-over-year decline. There were two at Sothebys Mo Ostin sale: One sold for $5.8 million, just above its low estimate of $5 million, and the second, which was estimated from $1.5 million to $2 million, failed to find a buyer. late Whitney Museum president David Solinger, late Museum of Modern Art (MoMA) president William S. Paley. Alberto Giacometti, Trois hommes qui marchent (grand plateau), 1952 Courtesy Sotheby's. The evening began with the cream of the Mo Ostin collection before moving to (mostly) modern works. Portrait of a Man, 1971-72, was completed over 36 sittings, the Duke said, according to Sothebys. It will almost. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. The Klimt was backed by an irrevocable bid. An earlier version of this article misstated the results of a Sothebys sale on May 16 last year. All Rights Reserved. I have my eye on something else, he reasoned. Lois Dodd was part of a new wave of modern artists to emerge in the second half of the 20th century and is known for her observational works that depict landscapes, nudes, and still lifes. Another new auction record was set for French centenarian Pierre Soulages. Here are the most expensive works sold this week. In this market theres competition for superb rare work, Deitch says, and ones that are just sort of mediocre are not getting the prices that you would have seen in 2017.. Among dozens of Portrait Mode events throughout the U.K. is the exhibition on being and becoming at Christies titled, SELFHOOD; the Wallace Collections Portraits of Dogs; a William Morris Gallery show focused on fashion photography; and a major exhibition marking the 300th anniversary of Joshua Reynolds birth at The Box in Plymouth. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. Sotheby's International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. The slowdown comes after many seasons in which collectors, advisers and dealers wrung their hands over the potential for macroeconomic conditions to affect art prices, followed quickly by some variation of but they didnt! once totals were triumphantly tallied. Another highlight of the sale was a rare painting by Gustav Klimt, Island in the Attersee, which the Austrian artist finished in 1902. Simone Leigh, Las Meninas II, 2019. Art has gotten so expensive, across the board. We've detected you are on Internet Explorer. Despite this broader picture, a number of artists set major records under the hammer. The underbidder for the Hammershi was New York art advisor Todd Levin. Back on French soil, Paul Gauguins floral still life Nature morte avec pivoines de chine et mandoline (1885) was on offer the Ambroise Vollard Collection (the storied French art and artist supply dealer) after being restituted to his heirs in February. Its a collection that is ever-evolving and spans from antiquity to contemporary masters.. This site is protected by reCAPTCHA and the Google, Yes, I would like more information from Sotheby's International Realty. The lots in the Mo Ostin sale, which carried a pre-sale estimate of $103.3 million to $155.3 million, ultimately brought $123.7 million. After slow bidding on the Ostin collection, Sothebys announced that six lots would be withdrawn from the Modern Evening Sale (83 percent of the works sold, but eight works were passed on). The sale tees up a big year for the artist: Anatsui was selected as the next Hyundai Commission artist to present a major work at Tate Moderns vast Turbine Hall later this year. It eventually hammered for a record $10.4m ($12.2 with fees), obliterating the artists previous highwater mark at auction of $4.9million. Contemporary landscapes, party barns, and bespoke home cocktail bars are all the rage. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 36 results sorted by Lot number (low to high) Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Sotheby's International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Songshan District, Taipei City, 105 Taiwan, Sotheby's International Realty's commitment to. Kay Sage All Rights Reserved. The Solinger collection auction was a sold-out, white glove affair, bringing in a hammer total of $116.3m ($137.9m with fees), near the upper end of Sothebys pre-sale estimate range of $86.7m-$118m (estimates do not include auction house fees). Courtesy of Sothebys. Three bidders between New York and London, including one in the auction room, drove the hammer price up to $16.9 million, well past its $10 million estimate. This work, from the Stoffbilder series of fabric paintings, is considered to be among German abstract painter Blinky Palermos greatest achievements. On Tuesday evening, Sothebys combined modern evening sale and stand-alone sale of the late record producer Mo Ostin had an estimate of $375 million to $534 million. Freud was a family friend of the Cavendishes, who have owned Chatsworth Houseseat of the Duke of Devonshiresince the mid-1500s. Thats a dynamic market. Deitch purchased a Jeff Koons sculpture at Christies for just under $2 million, well under its estimate of $3 million to $5 million. An error has occurred, please try again later. Before the sale, three lots were withdrawn, including a 1932 Georgia OKeefe painting (estimated at $8 million) and a Henry Moore sculpture. It was a long way from this day last spring, when the second part of the exemplary Macklowe Collection raised $246 million alongside $408 million in the Modern Evening Sale. Not every painting is a masterpiece, and not every artist is a market darling. Our experienced team of real estate professionals is committed to introducing clients to the most inspiring selection of properties and providing them with a complete package of real estate services. We have 13 luxury homes for sale in Taiwan. Copyright 2006-2023 Sotheby's International Realty Affiliates LLC. Here, we select 10 notable results achieved during the May auctions. Its been coming for a while, says the art adviser Jacob King, who bought a painting by Sturtevant at Christies on Wednesday evening for $882,000. Sotheby's auctioneer Oliver Barker fields bids for Gustav Klimt's Insel im Attersee (Island in the Attersee) (1901-02) in New York on 16 May 2023 Courtesy Sotheby's. His 1961 black-and-red abstract canvas for $20.1 millionwith fees, after a protracted bidding spar between Sothebys chairman in Switzerland, Caroline Lang ,and Sothebys chairman of Europe, Helena Newman. That plays a role in how people are spending their money and thinking about allocating their assets.. But the artworks certainly found an audience on Tuesday as bidders competed for over 15 paintings from the collection accumulated by Ostin, who died last year, and another 54 lots included in Sothebys latest Modern Evening Sale, which helped the auction house realize $427 million in a single night. Above the fireplace in the Los Angeles living room where the music executive Mo Ostin entertained celebrity clients like Frank Sinatra, Paul Simon and Joni Mitchell were two unusual paintings by Ren Magritte. It sold for a hammer price of $48m ($51m with fees) to a collector in Asia who placed a solitary bid via Sothebys chairman for Switzerland Caroline Lang.