Art Investment

Phillips de Pury & Co has earned 71.3 million dollars at yesterday's auction of contemporary and postwar art

yesterday in New York, the trades of postwar and contemporary art of Phillips de Pury & Co. The auction brought 71.3 million dollars, ie stay within the estimate 66,2-97,4 million, the most expensive lots went to buyers, a seller on the phone. Customers were without seven of 44 (16 percent) of the lots, which is equivalent to 6 per cent in cash terms. Prices of seven lots exceeded the amount of $ 3 million, three lots went under the hammer five million more. According Artinfo, a similar result - a big improvement over the results of similar trades Phillips last year, which brought 19.9 million dollars estimeyte 23,6-34,2 million.

SAY Twombly Untitled. 2006
Source: bloomberg.com

Top-lot auction was written with acrylic on canvas painting of Cy Twombly (Cy Twombly) 2006 Untitled, which depicts several rows of painted red paint podtekshih loops. The work was sold for $ 9 million, its estimate was 8-12 million. This amount is became the second best result of the auction of the artist. Twombly work - one of 18 major auction items for which there was a guarantee of a third party, the auction house to insure good and would have good earnings, even if the hall buyers were not so active. According to Michael McGinnis ( Michael McGinnis), head of the department of Modern Art Phillips, guarantees of third parties has "become an industry standard».

Andy Warhol
Nine Gold Marilyn (From "negatives"). 1980
Source: phillipsdepury.com < /td>
CHRISTOPHER Vul
Untitled (P177).
1993 Source: phillipsdepury.com

Cloth Twombly spared to work with the catalog cover - "Nine Gold Marilyn (From" negatives ")," Andy Warhol in 1980 - another guaranteed Lot, who went up to the buyer, a seller on the phone for 7.9225 million dollars ( estimate 7-10 million). In the hall of job applicants was not found.

Among the prominent buyers attending the auction, was the Los Angeles billionaire Eli Broad and collector (Eli Broad), former Member of the Board of Directors of MMC "Norilsk Nickel" Oleg Baibakov, fashion designer Tommy Hilfiger (Tommy Hilfiger) and financial manager Glenn Fuhrman (Glenn Fuhrman), running on a computer magnate Michael Dell (Michael Dell).

Hilfiger acquired the work of Damien Hirst (Damien Hirst) 2006 "Splitting. Crown of Life" for $ 1.4 million. canvas, decorated with butterflies, like stained-glass window of a Gothic cathedral. The work was protected by a guarantee, like a figurine made of stainless steel in 1986, "Troll from Cape Cod, "by Jeff Koons (Jeff Koons), sold for 578,500 dollars estimeyte 600-700 thousand dollars. Koons work last time changed by the owner of London's Sotheby's auction in June 2001 for 63,750 pounds (90,195 dollars).

Return of "Troll" to the market look pale in comparison with the result of lots of Alexander Calder (Alexander Calder) - painted metal sculpture "thrill" of 1972. It was sold to international art trader David namadi (David Nahmad) for 5.6825 million dollars (estimate 5-7 million). The last time a work of Calder put up for auction and took in the 1999 auction at Sotheby's in New York at 1.5425 million dollars.

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Richard Prince My sister-fugitive. 2006
Source: artinfo.com
Alexander Calder awe. 1972
Source: phillipsdepury.com

Work of Richard Prince ( Richard Prince) «Sister runaway" in 2006, depicting the sexy nurse, brought 6.8 million dollars, nearly reaching the top plate estimate of 7 million. In contrast to the works of Warhol, this work was the subject of the struggle between the three buyers. However, all They also traded on the phone. 'Sister-fugitive "not reached to a record other ladies from the same family in July 2008," Overseas Nurse "(2002) set a record among the works of Prince in this series, bringing the auction house Sotheby's 4,241,250 pounds ( $ 8.4 million) at auction in London.

sensational in its time job Maurizio Cattelan (Maurizio Cattelan) «Frank and Jamie" - two made a life-size wax figures of New York overturned York police (2002), sold for 2.3225 million dollars (estimate 2-3 million). The work became a buyer orders over the phone.

buyers attracted great interest in three works by Christopher Wool ( Christopher Wool) from American private collections. work "Untitled (P177)» 1993 was sold for 2.2105 million dollars (estimate: 1.2-1.8 million). Failure to control for the product suffered a New York dealer Stellan Holm ( Stellan Holm). Two other works of Voula, also performed on an aluminum board, fell into the hands of the New York dealer Alberto Magrabi (Alberto Mugrabi). He bought another work "Untitled (P63)» 1988 for 842 500 dollars (estimate: 700 -900 000 dollars) and the work "Untitled (P71)», performed in the same year, at 1.3705 million dollars (estimate of 1-1.5 million). "I think it was a good, strong bid," - said Magrabi came out of the hall.

Toward the end of the evening hall once again came to the excitement, several candidates found in the work of young artists Kesseya Jacob (Jacob Kassay) and Sterling Ruby (Sterling Ruby) .

work Anish Kapoor (Anish Kapoor), 2008 "Untitled" stainless steel was sold to a buyer, a seller on the phone for 1.3145 million dollars (estimate: 0.8-1, 2 million). aspired to work Kapur Larry Gagosian (Larry Gagosian) left empty-handed.

«They [Phillips de Pury] become more active - praised the well-known dealer in the previous auction. - They are, they have big names. "Gagosian bought the sculpture of two parts, Richard Serra (Richard Serra)« Hands "in 1985 to 2.3225 million dollars (estimate: 2.5-3.5 million).

brought a good profit and a charity auction section, the proceeds of which go to the expense of the Solomon R. Guggenheim (Solomon R. Guggenheim Foundation). Lot 21 was sold out of 22, the amount of revenue amounted to $ 2.7 million - above upper bound estimate of 2.2 million.

now trades modern and postwar art auction house will hold a Christie's.

Prepared by Mary Estrova, AI

Source : artinvestment.ru


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