Art Investment

Summing up the London auction of contemporary art

The June auction of works by modern artists of Christie's, Sotheby's and Phillips de Pury brought 44.1 million pounds

recently in London auction of contemporary art, organized by the Christie's , Sotheby's , and Phillips de Pury. Despite the fact that the prices offered by buyers were much lower than it was during the art boom, auction organizers were pleased with the results of: Sotheby's sold 92.5% of lots, Christie's - 88%, and Phillips - 75%.

Sotheby's also took first place for sales: 21.85 million pounds, not including Buyer's Premium. At the auction held on 25 June, customers have 37 lots. 35 pieces sold on 30 June at Christie's, had 16.2 million. Closes our top three on 29 June Phillips, the result is - 6.07 million. Total auctions yielded 44.1 million pounds.

Probably a good influence on the results of pound sterling - 1,17 euro per pound. This explains why the bids were so many buyers from Europe. At Sotheby's Europe, it was 57% (while the Americans were 24%, and the natives of Asia - 19%). The first lot auction, drawing gouache Dyubyuffe Jean (Jean Dubuffet), entitled Paris Plaisir III, «left» of 270 thousand pounds (445 thousand dollars), with estimeyte 180-250 thousand. A work of Andy Warhol (Andy Warhol), Alexander Koldera (Alexander Calder), Jean-Michel Basque (Jean-Michel Basquiat) and Peter Doig (Peter Doig) yielded seven amount. However, not all of them have managed to overcome estimeyty.

Chief «blockbusters» auction has become a picture of Warhol «Mrs. McCarthy and Mrs. Brown», never before appearing in public tenders. The work went for 3.3 million pounds (5.44 million dollars) - to 200 thousand pounds less than the lower estimeyta. Another «Warhol», under the title «Serp & Molot», was sold for 1.75 million in the evaluation of 2-3 million. Work Koldera Doig and more fortunate. Rare sculpture «Five pieces of wood», the first in the early 1930's, was estimated at 1,2-1,8 million pounds, but experts of Sotheby's, as it turned out, poskromnichali - laid out a buyer for the work of 2.3 million. A picture Doig «Almost grown» went to the upper boundary estimeyta: over 1.8 million.

At Christie's also a work of Doig. The painting, entitled «Playground night» had 2.65 million (for 650 thousand above estimeyta) and climbed into first place in the list of top auction lots. It now ranks third in the list of most expensive creations of the artist - as if we in the U.S., if not the second. The head of the list image «White Canoe», sold in February 2007 for 5.1 million pounds.

In the current challenging times special auction records will not have to. However, sometimes they do occur - for example, at the same Christie's diptych Italian kontseptualista Alighieri Boetti (Alighiero Boetti) yielded 600 thousand pounds in the evaluation of 280-350 thousand pounds. Perhaps interest in the work of Boetti risen due to a large artist's retrospective, managed by the Naples Museum of MADRE (in conjunction with this exhibition of influential magazine Artforum devoted Boetti great article).

In addition to paintings by Peter Doig, millions have two works: «1025 Flowers» Gerhard Richter (Gerhard Richter) and «Suburban Nurse» Richard Prince (Richard Prince). Painting Richter little reached estimeyta: it was sold for 1.2 million pounds in the evaluation of 1,3-2 million. «Nurse» left far: 1.5 million, on lower estimeytu. In the past year, these pictures bring Prince 2-4 million pounds - the success of «nurses» was one of the symbols of the art boom. In 2008 th the price of works by this artist jumped by 34%, while revenue from sales amounted to 40 million.

At Phillips sums of seven were not. The most expensive lot was the picture of Ed Rushi (Ed Ruscha), entitled That Was Then This Is Now ( «That was Then, This Is Now»). She went for 600 thousand pounds - the lower estimeytu (600-800 thousand).

At Phillips appeared as several works of Chinese artists. Painting Mintszyunya Yue (Yue Minjun) with the image of laughing guys had 350 thousand pounds (in 50 thousand estimeyta above). The sale could be considered a success: In May 2006, similar work has gone for a sum equivalent to 214 thousand pounds. Cloth Fena Chzhentsze (Feng Zhengjie) under the name «Chinese Portrait P Series 2006 number 2» was sold for 81 thousand pounds in the evaluation of 50-70 thousand. This is the largest work Fena from all that has ever appeared at auction. In the era of the art boom of its success probably would have been more impressive: in just the past year, six «Chinese portraits» artist had amounts exceeding 100 thousand pounds.

Creation of other famous Chinese - Zhang Syaogana (Zhang Xiaogang), Yan Mei-Mina (Yan Pei-Ming) and Wang Guangya (Wang Guangyi) did not find buyers. Perhaps the reason is that their estimeyty were somewhat inflated. On the day the auction Christie's July 1, were also exhibited several works of Wang. Pictures Rolex and Prada, estimated at 80-120 thousand and 60-80 thousand pounds, respectively, were unable to sell. But the work of Harry Winston has 20 thousand pounds, with 10-15 thousand estimeyte.

Material prepared Yulia Maksimova, AI

Source: artprice.com , artinvestment.ru


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