The modest results of contemporary art auction Phillips de Pury October 12
The auction brought $ 12.9 million against the expected 9,9-14,4 million. 34 percent of lots were left without buyers
Phillips de Pury auction was held on the same day with solemn VIP-events on the occasion of the opening of an art fair Frieze. According to artinfo.com, auction showed "indecision of the market for contemporary art", bringing the total amount of 8,249,950 pounds, while total preliminary estimate was 9,9-14,4 million pounds. Of the 35 lots have been sold to 23, thus, no buyer were 34%of the lots, equivalent to 25%of the volume in value terms. At the auction price records were set for works of two artists.
top lot - the work of Jeff Koons (Jeff Koons) «Litter bins with seal and walrus" (2003-2009), a funny sculpture of painted aluminum and galvanized steel, was the only lot, sold more million. The work was bought for 2.1 million pounds, with 2.3 million pounds estimeyte.
| Litter bins with seal and walrus. 2003-2009 Estimate: 2.3 million pounds Result : 2.11325 million pounds Source: |
Although filled to overflowing auction room, almost all of the lots sold went to an anonymous orders over the phone shoppers.
Everyone - experts and the audience - interested in how world events and the global economic crisis will affect the activity of buyers. Their attitude at the last auction is related to the general mood of passing now in London fair Frieze: quotations were quiet, sometimes scanty, - except a few are local "battles" that took place for the works of young artists.
It all started in the health, very cheerfully: sculpture Uolida Besht (Walead Beshty) 2005 "Copper cube with edge 50 cm (FedEx ® Large Kraft Box © 2005 FEDEX 330 508)" went to customer orders over the phone for a record for the artist 46 850 pounds estimeyte 20-30 thousand pounds. abstract work Taub Auerbach «CMY 5 "2008 (acrylic on paper on board) also set a record by earning 49,250 pounds estimeyte 15-20 thousand pounds.
| Result: 46 850 pounds Source: | Estimate: 15-20 thousand pounds Result: 49 250 pounds Source: |
Vosmisantimetrovy beetle Maurizio Cattelan (Maurizio Cattelan) of metal and ceramics in 1995 (one of three) went for 91 250 pounds estimeyte 50-70 thousand pounds . nedotyanuvshih to include the winning price was Paris dealer Emmanuel Perroten (Emmanuel Perrotin).
Meanwhile the younger generation has continued to enjoy the attention of collectors: for abstract work Untitled prodigy Jacob Cassie (Jacob Kassay) 2010 , the auction house was rescued 91,250 pounds, leaving only memories estimate of 50-70 thousand.
Large, four-part work late Steven Parrino (Steven Parrino), entitled "Scared glance "(1993), was sold for 361,250 pounds estimeyte 300-500 thousand pounds. hlebavshi left with nothing for trades claim it Vanmoerkerke collector Mark (Mark Vanmoerkerke).
At yesterday's auction There were few classical works. But worth mentioning the work of Ed Rushi (Ed Ruscha) «Judy" in 1992, which is within the estimate (180-220 thousand pounds) earned 193,250 pounds.
for some people was really a bad night: no luck prolific American George Condo (George Condo), whose exhibition at the end of the month opens at London's Hayward Gallery. Both of his lot - "Cave Paintings" in 2008 (estimate 300-500 thousand pounds) and " two works. 1) The Departure, 2004. 2) The Arrival, 2004 "(estimate 300-400 thousand pounds) were left without buyers. Perhaps the fact that, at Friezei already plenty of work condo, so it seems, the appetite market is already satisfied.
![DZhORDZh](/content/download/news_2011/20111014_cave_painting.jpg") George Condo The cave paintings. 2008 Estimate: 300-500 thousand pounds Result: not sold Source: |
Head Contemporary Art PhillipsMaykl McGinnis (Michael McGinnis) confirmed this conjecture after the auction, noting that the grand total of auction can be attributed to oversaturation of the market the material. He added that the current situation in general is difficult to predict something.
from relatively expensive lots, earned more than 400 thousand, to mention two works by Damien Hirst (Damien Hirst). "Observations. The crown of justice "(2006; estimate 0.7-1 million pounds) - reminiscent of stained glass composition of butterflies on canvas - yielded 780 450 pounds. Two-meter "point" picture under an ominous name of "5-Aminouratsil" (2007, estimate 600-800 thousand pounds) earned 690,850 pounds. "The crown of justice", by the way - one of the few guaranteed to work the auction.
| observations. Crown of justice. 2006 Estimate: 0.7-1 million pounds Result: 780 £ 450 < br /> Source: < /td> | 5 Aminouratsil. 2007 Estimate: 600-800 thousand pounds Result: 690 850 lbs Source: |
Two other works by guarantees, also left with a relatively small excess of estimate: the work of Richard Prince (Richard Prince) «My Life as a Weapon" (2007) was sold for 541,250 pounds estimeyte 500-700 thousand pounds, and Cecily Brown diptych (Cecily Brown) «Park" brought 421,250 pounds estimeyte 400-600 thousand pounds.
Last night, the trades of contemporary art Sotheby's, who offered to customers with an even more impressive level of prices.
Prepared by Mary Estrova, AI
Source:
Editor's comment: the tone of the report artinfo.compoluchaetsya that 66 percent sold, of which several million people have become dollar - an indicator of undecided customers in respect of Contemporary Art. Yeah, it is felt in the West do not smell the gunpowder. They would be in Moscow for the first snow. We at the local auctions and to result in 30 percent have nothing to complain about. This is an antiques and traditional. And as for contemporary art (such specialized trades we simply have not done), even guessing not make up my mind. Apparently, in this part of things buyers Phillips considered overvalued: Condo glut of example. In the meantime, all the first names were scattered like hot cakes: and Koons, and Hirst, and Cattelan. And a million and one million. Telephone customers often interrupted from the floor rate, known buyers left with nothing - a segment of an antique that is suspicious, but this is not the case. Normal trading that took place in conditions of relative oversupply and "bearish" sentiment in the market. In general, Phillips - attractive and ambitious auction, which does not forget himself, but also does a lot for the market of Russian Contemporary Art.
Vladimir Bogdanov, AI
Permanent link to:
https://artinvestment.ru/en/news/auctnews/20111014_philips_contemporary.html
https://artinvestment.ru/news/auctnews/20111014_philips_contemporary.html
© artinvestment.ru, 2024
Attention! All materials of the site and database of auction results ARTinvestment.RU, including illustrated reference information about the works sold at auctions, are intended for use exclusively for informational, scientific, educational and cultural purposes in accordance with Art. 1274 of the Civil Code. Use for commercial purposes or in violation of the rules established by the Civil Code of the Russian Federation is not allowed. ARTinvestment.RU is not responsible for the content of materials submitted by third parties. In case of violation of the rights of third parties, the site administration reserves the right to remove them from the site and from the database on the basis of an application from an authorized body.
