Art Investment

The results of the auction of Impressionist and Modern Christie's

Last Wednesday, November 3, house Christie's held in New York evening sale of Impressionist and Modern works . The result amounted to 231.4 million dollars (preliminary estimate 198,3-286,6 million dollars). Of the 84 lots remained unsold 17 (20 percent). More than a million dollars yielded 43 papers, of which ten went for amounts in excess of five million. For comparison: a similar auction last year ended with a score of 65.6 million dollars.

ANRI Matisse Nude with back IV. 1978 HENRY Matisse nude from behind IV. 1978 Source: artinfo.com

With regard to ethnic composition of buyers, there was dominated by Americans (45%of purchased lots), followed by Europeans (31%) Asians (6%) and collectors from other parts of the world (18 %).

Modernism in the auction enjoyed far greater success than the "impressionistic" lots, which pulled down quite calmly, without any special stir. Considerable revival caused only some work, in particular a group of five works by Georges Seurat (Georges Seurat), whose work is referred to as neo-impressionism. His pencil sketch "Walking" (circa 1882) bought for 3.3 million dollars (estimate 1,5-2,5 million).

Another graphic work for which erupted "War rates," - "Man and Woman (Embrace)" Austrian expressionist Egon Schiele (Egon Schiele). Winner of the American dealer Robert Mnukhin (Robert Mnuchin) paid for the drawing 7.4 million (preliminary estimate was 4-6 million). Last seen working at an auction in 2001 (London Sotheby's; amount of sales - 2.6 million dollars).

2010 is sure to be remembered as the year of the incredible prices on the masterpieces of modernist sculpture. Even at the peak of the art boom, prices in this category did not reach $ 30 million, and in February of this year's sculpture « Walking man "Giacometti (cast, incidentally, in the amount of six copies) was sold for 104.3 million. The next big deal not long in coming: « Head "Amedeo Modigliani (Amedeo Modigliani) in June, went at auction for 52.7 million. Trend consolidated Christie's: top-lot auction on November 3 was bronze relief by Henri Matisse (Henri Matisse) titled "Nude with Back IV », sold for 48.8 million dollars (the buyer was an eminent dealer Larry Gagosian (Larry Gagosian)). The work that Christie's experts estimated at 25-35 million dollars, was cast after the death of Matisse in 1978. It is worth noting that Modigliani, for example, enjoyed similar success only "lifetime" instances. The sum of 48.8 million was a record for the artist.

Juan Gris Violin and Guitar. 1913 Juan Gris The violin and guitar. 1913
Source: christies.com

Another record - 28.6 million for the painting "Violin and Guitar" cubist Juan Gris (Juan Gris). Estimate of this rare paintings, dating back to 1913, amounted to 18-25 million. It is known that the painting was already a guaranteed buyer.

At the auction was in abundance Fernand Leger (Fernand Léger), three paintings, which included the ten most expensive. Among them - "Cup of Tea" (1921), pushed for 8.1 million dollars in assessing the 8-12 million. The previous owner was a picture of IT-pioneer Max Palevsky (Max Palevsky). at Christie's was put up nine works from his collection ; together they brought 23.5 million dollars (estimate 23,1-34,5 million). Another Leger in the collection was bought by a dealer Palevsky Daniela Luxembourg (Daniella Luxembourg) for 6,4 million.

Top-10 evening auction Christie's3 November 2010 ( New York) The Art of Impressionist and Modern »

Lot

Description

Estimate, of millions of dollars

Room, dollars

buyer

65

Henri Matisse (1869-1954)
«Nude female figure from behind IV» (1956)
world record for the artist

25-35

48802500

Gallery Gagosian Gallery Inc

23

Juan Gris (1887 -1927)
«Violin and Guitar» (1913)
world record for the artist

18-25

28642500

anonymous buyer from Europe

25

Joan Miro (1893-1983)
«Air» (1938)

12-18

10330500

art dealer from Europe

64

Alberto Giacometti (1901-1966)
«Venetian woman V» (1956)

8-12

10274500

private buyer

39

Fernand Leger (1881-1955)
« A cup of tea » (about 1920-1921)

8-12

8,146,500

private buyer

17

Fernand Leger (1881-1955)
« Still Life » (1927)

3,5-6,5

7,922,500

Art Dealer

22

Egon Schiele (1890-1918)
« Man and Woman (Embrace) » (1917)

4-6

7,362,500

Gallery L & M Arts

37

Fernand Leger (1881-1955)
«woman on a red background, seated woman» (1927)

5-7

6,354,500

Luxembourg Art Limited

26

Pablo Picasso (1881-1973)
«Head of a Man» (1921)

5-7

6,130,500

art dealer in the U.S.

7

Gustave Caillebotte (1848-1894)
«Seine at Argenteuil» (1882)

5-7

5,122,500

art dealer in the U.S.

Sources: Press Release Christie's, artinfo.com , artinvestment.ru


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