Art Investment

At Christie's Russian art collectors have bought 20 million pounds

At the last auction on Feb. 9 Christie's works of the Impressionists, Modernists and Surrealists Russian art collectors have purchased 20 million pounds. It's almost a quarter of total revenue of the two auctions, which amounted to 84.9 million

In the past 9 February Christie's auction of Impressionist and Modern works, as well as surrealist Russian collectors bought works of art by more than 20 million pounds. It's almost a quarter of total revenue of the two auctions, which amounted to 84.9 million pounds (136.6 million dollars).

Top-lot auction of Impressionist - "Terrace at Vernon," Pierre Bonnard - for 7.2 million pounds bought a Russian collector. From his face the final bid by phone made Nedvetskaya Sandra (Sandra Nedvetskaia) - Officer Christie's in Zurich, working with Russian clients. Jobs at over twice its lower estimate and became the most expensive painting Bonnard, sold at public auction.

Nedvetskoy Customers also bought for 4.7 million pounds picture of "Magnet" (1941) Brush surrealist Rene Magritte. A portrait of French actress Lili Damita brush Fauves Kees van Dongen Russian paid 3.1 million pounds.

«This is a new kind of shopping - said the representative of the London dealership Theobald Jennings Jennings Gai (Guy Jennings), - these colorful works well will look at the villas Côte d'Azur. This market has long been Russian move, move west, as well as new European money ».

second at the price of top-lot trades - painting" Boats at Collioure "brush Andre Derain for 5,9 million pounds on behalf of a collector bought the head of the Department of Impressionist and Modern Art Christie's, Thomas Seydoux (Thomas Seydoux). For the same client, and he bought the painting "The trees in bloom (apple blossom)" (1912) Brush Natalia S. Natalia Goncharova for almost 4 million pounds. This painting depicting a blooming garden or a forest is one of the first Cubo-Futurist works by the artist, whose theme was the transformative power of spring, as embodied in the landscape, typical, according to Natalia Goncharova, her contemporary Russia.

Natalia Goncharova
trees in bloom (apple in color). 1912
Oil on canvas. 100,3 x 84,5
Christie's. 02/09/2011. Lot number 15
Estimate: 2,5-3,5 million pounds
Result: 3.96 million pounds
Source: nationalgallery.org.uk

Closes the three most expensive works in the evening pastel by Edgar Degas "Dancers in the yellow skirt, pushed under the hammer for 5.4 million pounds (estimate 3-5 million). This product was stored in a private European collection since 1899.

The auction was billed four works from the collection of the Art Institute of Chicago. In total, all 4 lots rescued more than 10 million pounds. The most expensive was the work of Pablo Picasso's "Double decker bus with open top for crossing the Seine, pushed under the hammer for 4.8 million pounds. Found new buyers, "Still Life with Guitar (on the background of a red curtain)" brush Georges Braque (3.96 million pounds), portrait by Henri Matisse's "Woman in an armchair (1919) (791,000 pounds) and Picasso's Cubist still-life" and the glass tube (433,000 pounds).

At the auction the works of the Surrealists in addition to "magnetic" to work with nude Magritte, mentioned above, the price was, of course, Salvador Dali. His sketch for the painting "Honey is sweeter than blood, estimated by experts at 2-3 million pounds, found a buyer for 4.1 million, becoming the most expensive work of the artist, sold at public auction.

Total number of proposed Christie's that evening 76 lots failed to sell 60 (79 per cent in quantity and 84 per cent in cash terms). 23 lots went under the hammer for an amount exceeding 1 million pounds, three - for amounts over $ 5 million. But was not among these works of still life "Hope" by Paul Gauguin, who predicted the maximum result of 10 million pounds. Painting remained unsold.

Among the buyers of 49 percent were customers from Europe (including Russia), 23 percent - from UK, 23 per cent - from the U.S. and 5 percent from Asia and others.

Top-10 evening auction Christie's on Feb. 9, 2011 (London)
The Art of Impressionism, Modernism and Surrealism

Lot

Description

Estimate and millions of pounds

Price, £

10

Pierre Bonnard (1867-1947)
«Terrace at Vernon", 1923
world record for the artist's work

3-4

7,209,250

16

Andre Derain (1880-1954)
«Boats at Collioure", 1905

4-6

5,865,250

9

Edgar Degas (1834-1917)
«Ballerina in yellow skirt, circa 1896

3-5

5,417,250

7

Pablo Picasso (1881-1973)
«Double decker bus with open top for crossing the Seine" , 1901

2-3

4,857,250

104

Rene Magritte (1898-1967)
«Magnet, 1941

3,5-5,5

4,745,250

106

Salvador Dali (1904-1989)
« Study for the movie "Honey is sweeter than blood», 1926-1927
world record for the artist's work

2-3

4,073,250

5

Georges Braque (1882-1963)
«Still Life with Guitar (on the background of a red curtain)", 1938

3,5-5,5

3,961,250

15

Natalia Goncharova (1881-1962)
«Apple trees in bloom, 1912

2,5-3,5

3,961,250

13

Claude Monet (1840-1926)
«Beach at Petit Zhenviye", 1875

3-5

3,737,250

33

Kees van Dongen (1877-1968)
«Actress Lily Damita, circa 1926

1,5-2

3,065,250

material was prepared by Maria Onuchina, AI

Source: bloomberg.com , a press release Christie's, artinvestment.ru


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