Christie’s
Christie’s 21st Century Evening Sale – 14 May
Christie’s staged the first of its major New York evening auctions under a new organizing principle. Rather than team its familiar Impressionist and Modern art sale with its post-war and contemporary sale, the auction house split its offerings into 20th-century versus 21st-century art.
The reluctance to sell may have contributed to the relatively limited number of significant single-owner and estate collections up for sale this season, which have buoyed auction houses’ bottom lines the last few years.
The exception to that is Christie’s, which won the high-profile collection of the late Miami-based collector and philanthropist Rosa de la Cruz, estimated to bring in between $25M and $37M across 26 lots in advance of the 21st Century evening sale on May 14.
This spring auction sale is 30% bigger than the same event last year, 35 lots versus May 2023’s 27 lots, and its presale low estimate $104M is up 5%.
Let’s mention that the auction house experienced a hacking of its website this year, which created complications for bid registration and result consultation. This is why all the numbers we will provide you for Christie’s will only consider the Hammer price.
Jean-Michel Basquiat
The Italian Version of Popeye has no Pork in his Diet created by Basquiat at the young age of 21, was sold for $32M with BP a bit reaching the predicted price range of $30M to $40M (excluding fees). The New York painter’s sales record is held by a painting from 1982 that sold for $110.5M at Sotheby‘s in 2017.
Jean-Michel Basquiat
The Italian Version of Popeye has no Pork in his Diet, 1982
Acrylic, oilstick and paper collage on canvas mounted on tied wood supports
152 x 152 cm
Estimate on request
Sold: $27.500.000
Felix González-Torres
A new auction record was set for Felix Gonzalez-Torres with the sale of Untitled (America #3), 1992 for $13.635.000.
Felix González-Torres
Untitled (America #3), 1992
42 light bulbs, porcelain light sockets and electrical cord
1.280 cm
Estimate: $8.000.000 – $15.000.000
Sold: $13.635.000
Yayoi Kasuma
Enlightenment means living a life unconcernedly, 2008 fetched a price of $3.6M. In 2022, Phillips New York set a record with the sale of the artist’s Untitled (Nets), 1959, for $10.496.000.
Yayoi Kasuma
Enlightenment means living a life unconcernedly, 2008
Acrylic on canvas
194 x 259 cm
Estimate: $2.000.000 – $3.000.000
Sold: $3.500.000
Lynette Yiadom-Boakye
Black Allegiance to the Cunning, 2018 by Lynette Yiadom-Boakye reached the impressive mark of $2.4M. As is customary with all of her artworks, Lynette Yiadom-Boakye welcomes us into her pictorial and fictional space. The figures she creates are derived from a combination of imagination, memory and improvisation. The artwork titled Six Birds in the Bush, created in 2015, was sold at Sotheby’s in London during The Now Evening Auction on October 12, 2023, fetching a hammer price exceeding $3M.
Lynette Yiadom-boakye
Black Allegiance to the Cunning, 2018
Oil on linen
200 x 150 cm
Estimate: $1.000.000 – $1.500.000
Sold: $2.400.000
Kerry James Marshall
The painting Lost Boys, 1993 by Kerry James Marshall, which is a prominent piece from the artist’s early 90’s portrait series fetched a price of $2.228.000. The auction record for the artist is Past Times from 1997 fetching $21.114.500 on May 16, 2018, during Sotheby‘s Evening Sale of Contemporary Art in New York.
Kerry James Marshall
Lost Boys – AKA Black Tony, 1993
Acrylic and canvas collage mounted to board
70 x 77 cm
Estimate: $1.200.000 – $1.800.000
Sold: $2.228.000
Martin Wong
The artwork Portrait of Mikey Piñero at Ridge Street and Stanton, of 1985, was sold for a whopping $1.6M. Sotheby’s Hong Kong achieved a groundbreaking auction record for artist Mathew Wong when they sold his piece, River at Dusk, from 2018, for an impressive $6.646.193 in 2023.
Martin Wong
Portrait of Mickey Piñero at Ridge Street and Stanton, 1985
Acrylic and canvas
1.8 x 1.8 m
Estimate: $1.000.000 – $2.000.000
Sold: $1.623.000
Christie’s 20th Century Evening Sale – 16 May
The 20th Century Evening Sale, spotlights the vanguard artists from the most influential movements of the modern and post-war periods. The sale features groundbreaking champions of Abstract Expressionism like Joan Mitchell, alongside American visionaries such as Georgia O’Keeffe, Edward Weston and Andy Warhol. Additionally, it is enriched by renowned leaders of modernism like Alberto Giacometti, Pablo Picasso, and René Magritte.
20th Century Evening Sale contextualizes masterpieces for both established and newly recognized artists totalizing $413.3M with 92% of the lots sold against a presale estimate range of $345.9M to $501.7M representing only 75,89% of the initial maximum forecast.
Andy Warhol
The second highest sale of the auction was Andy Warhol’s Flowers, 1964, which fetched an incredible $35.5M with Buyer Premium. In 2022, Andy Warhol’s Shot sage blue Marilyn, 1964 sold for $195.040.000 at Christie’s New York, setting the auction record for the artist .
Andy Warhol,
Flowers, 1964
Acrylic, fluorescent paint and silkscreen ink on linen
208 x 208 cm
Estimate: 20.000.000 – 30.000.000
Sold: $35.500.000
Vincent Van Gogh
Created during the second year of Van Gogh’s residence in Paris, Coin de jardin avec papillons was sold for a total of $33.18M with Buyer Premium. It carried the evening’s highest estimate at $28M to $35M and also came armed with a third party guarantee. Verger avec cyprès, 1888, sold by Christie’s New York in 2022 for $117.1M with Buyer Premium currently holds the artist’s auction record.
Vincent Van Gogh
Coin de jardin avec papillons, 1887
Oil on canvas
50 x 61 cm
Estimate: $28.000.000 – $35.000.000
Sold: $33.185.000
David Hockney
David Hockney‘s immaculate and rhythmic work of art takes center stage in the impressive collection of TV series creator Lyn Lear. Originally acquired from the Los Angeles Louver Gallery, A Lawn Being Sprinkled, 1967, achieved $24.5M, $28.5M with Buyer’s Premium at this auction.
David Hockney
A Lawn Being Sprinkled, 1967
Acrylic on canvas
152 x 152 cm
Estimate: $25.000.000 – $35.000.000
Sold: $24.500.000
Alberto Giacometti
Alberto Giacometti’s bronze Femme Leoni from a 1958 cast, the third of an edition of six, realised $19M, $22.2M with Buyer Premium. It last sold at auction at Sotheby’s New York in October 2020 for $28.4M with Buyer Premium, meaning last night was likely a disappointment for the consignor. Luckily, the Giacometti also came backed by a third party guarantee. Christie’s New York auctioned in 2015 the artist’s record-breaking piece, L’homme au doigt, 1947, which is insured for $141.285.000.
Alberto Giacometti
Femme Leoni, 1947
Bronze with brown patina
152 cm
Estimate: $20.000.000 – $30.000.000
Sold: $19.000.000
Pablo Picasso
Throughout the artist’s career, the motif of a woman seated in an armchair was a prevalent theme that appeared repeatedly. Femme a Chapeau Assise, 1971 was sold for $17M Hammer price, value below the minimum estimate established for the painter’s work. On November 8th of the previous year, Femme à la montre dated from 1932 sold at Sothebys for a breaking record of $139.363.500, during the sale of Emily Fisher Landau’s collection.
Pablo Picasso
Femme au chapeau assise, 1971
Oil and Ripolin on canvas
130 x 97 cm
Estimate: $20.000.000 – $30.000.000
Sold: $17.000.000
Georgia O’keeffe
The artwork titled Red Poppy, 1928, which is one of the renowned artist’s iconic representations of magnified flowers, was successfully sold for $14M Hammer price. It last sold at auction at the same house back in May 1990 for $1.1M with Buyer Premium. Her Jimson Weed/White Flower No. 1,1932, which sold for $44.4M in November 2014 at Sotheby’s is still the record for a female artist.
Georgia O’keeffe
Red Poppy, 1928
Oil on canvas
92 x 76 cm
Estimate: $10.000.000 – $15.000.000
Sold: $14.000.000
Claude Monet
Saint-Georges Majeur is one of Monet’s six works that depict the extensive vista overlooking the Lagoon towards the Palladian church of San Giorgio Maggiore was sold for $11.5M Hammer price below the low estimate. Monet’s Le Bassin aux Nymphéas commanded the highest price of $74M, making it the top-selling item at Christie’s 20th Century Evening Sale in New York last year, 2023.
Claude Monet
Saint-Georges Majeur, 1908
Oil on canvas
59 x 73 cm
Estimate: $12.000.000 – $18.000.000
Sold: $11.500.000
Joan Mitchell
Created in 1987, Chord X by Joan Mitchell is a remarkable masterpiece from her later years reached the price of $11M Hammer price. Last year the artist achieved a record-breaking sale of Untitled for $29.160.000 at Christie’s New York auction. The Abstract Expressionist artist’s previous record was $16.6M, made at Christie’s New York in May 2018 for Blueberry, 1969.
Joan Mitchell
Chord X, 1987
oil on canvas
260 x 199 cm
Estimate: $10.000.000 – $15.000.000
Sold: $11.000.000
Willem De Kooning
The painting Man in Wainscott, 1969 by Willem de Kooning, sourced from the collection of the TV series creators Norman and Lyn Lear, was successfully sold for $7.2M, reaching $8.6M with buyers premium. The record for this artist was set in 2016 at Christie’s New York with Untitled XXV, 1977 purchased for $66.3M
.
Willem De Kooning
Man in Wainscott, 1969
Oil on paper and newsprint collage mounted on canvas
152 x 122 cm
Estimate: $4.000.000 – $6.000.000
Sold: $8.600.000
Andy Warhol
The Double Mona Lisa crafted in 1963, partly inspired by the artist’s own observation of the crowds, was sold for $4.6M Hammer price.
Andy Warhol
Double Mona Lisa, 1963
Silkscreen ink on canvas
76 x 86 cm
Estimate: $4.000.000 – $6.000.000
Sold: $4.600.000
Edward Weston
Edward Weston’s famous photograph, Shell (Nautilus), from 1927, fetched $850.000 Hammer price setting a new auction record for the artist.
Edward Weston
Shell (Nautilus), 1927
Gelatin silver print, mounted on original card
63 x 50 cm
Estimate: $800.000 – $1.200.000
Sold: $850.000
Christie’s Post-War and Contemporary Art Day Sale – 17 May
The Post-War and Contemporary Art Day Sale showcases masterpieces from defining movements of the post-war era and innovative creations of today. Notable works from the later part of the 20th century are featured in the auction, spotlighting important milestones in the world of art. Some of the art movements featured are Abstract Expressionism and Color Field painting, Pop art, and artworks depicting the lively downtown New York scene in the 1980s.
Christie’s expected to raise a total of $94.3M during the Post-War and Contemporary Art Auction. Nevertheless, the event concluded with the house earning $75.1M, which accounted for 80% of the projected amount. The total amount raised at the 2023 auction was $80.4M, reflecting a 7% surge in sales compared to this year.
Andy Warhol
Andy Warhol was deeply fascinated by the combination of glamour and tragedy embodied by Monroe, and upon receiving news of her demise, he promptly commenced the creation of her portrait. Marilyn Monroe (Marilyn), 1967 was sold for $3M within the limit of the low estimate for the lot.
Andy Warhol
Marilyn Monroe (Marilyn), 1967
Screenprint in colors on paper, in ten parts
91 x 91 cm
Estimative: $3.000.000 – $5.000.000
Sold: $3.000.000
Mark Tansey
Archive, 1991 was one of the highlights of the night, reaching a value of $1.5M. The artist’s record sale is Triumph Over Mastery II, 1987, which sold for $11.824.500 at Sotheby’s New York in 2023.
Mark Tansey
Archive, 1991
Oil on canvas
195 x 138 cm
Estimate: $800.000 – $1.200.000
Sold: $1.520.000
Willem de Kooning
The Woman in a Flowboat, by Willem de Kooning was one of the highlights of the evening, sold for $1.5M.
Willem De Kooning
Woman in a Rowboat, 1965
Oil and charcoal on paper mounted on Masonite
122 x 56 cm
Estimate: $1.200.000 – $1.800.000
Sold: $1.500.000
Bob Thompson
The top sales of the auction saw Music Lesson in fourth place, selling for $1M and setting a new auction record for the artist.
Bob Thompson
Music Lesson, 1962
Oil on canvas
120 x 120 cm
Estimate: $400.000 – $600.000
Sold: $1.000.000
Cecily Brown
The Fox and Geese, 2008-2011 by Cecily Brown was sold for $810.000. The artist’s record was achieved last year with Free Games for May, 2015 sold for $6.711.450 at Sotheby’s New York.
Cecily Brown
The Fox and Geese, 2008-2011
Oil on canvas
63 x 55 cm
Estimate: $450.000 – $650.000
Sold: $810.000
Jean-Michel Basquiat
Famous Negro Athletes was sold for $720.000, just above the maximum estimate expected for the New York artist’s painting.
Jean-Michel Basquiat
Famous Negro Athletes, 1981
Oilstick and wax crayon on brown paper
45 x 60 cm
Estimate: $500.000 – $700.000
Sold: $720.000
Lynne Mapp Drexler
Untitled, 1960 by American abstract and representational artist Lynne Mapp Drexler sold for $600.000. Her auction record was achieved with Herbert’s Garden,1960, sold by Christie’s New York in 2022 for $1.5M
.
Lynne Mapp Drexler
Untitled, 1960
Oil on canvas
84 x 88 cm
Estimate: $300.000 – $500.000
Sold: $600.000
María Berrío
La Cena, executed in 2012, is a successful illustration of María Berrío’s surrealist visions and her acclaimed artistic style was sold for $350.000. The record price for this artist at auction is $1.6M for He Loves Me, He Loves Me Not, 2015 sold at Phillips New York in 2022.
María Berrío
La Cena, 2012
Wax crayon, graphite, fabric collage and Japanese rice paper collage on canvas
121 x 147 cm
Estimate: $350.000 – $450.000
Sold: $350.000
Salvo
Salvo’s Tenerife, 1997, an abstract piece characterized by vibrant colors and geometric shapes, exceeded expectations by selling for $130.000, well above the anticipated ceiling of $80.000. Last year, the painting Prima Primavera, 1996 was sold for $495.300, well above the initial estimate of $60.000 to $80.000 at the Phillips’ Day Sale of 20th Century & Contemporary Art.
Salvo
Tenerife, 1997
Oil on canvas
50 cm
Estimate: $60.000 – $80.000
Sold: $130.000
Dana Schutz
Another work that sold above expectations was Coma, 2004 by Dana Schutz, which sold for $130.000. Christie’s Hong Kong hosted the artist record auction in 2020, where Elevator, 2017 was sold for $5.800.354.
Dana Schutz
Coma, 2004
Oil on canvas
55 x 71 cm
Estimate: $70.000 – $100.000
Sold: $130.000
Sotheby’s
Underperformed the presale low estimates for both of its marquee evening sales Monday night, 13 May. The house generated $227.9M overall across its The Now and Contemporary art evening sales, about 8% beneath the $247.8M lower target amassed.
Sotheby’s The Now Evening Auction – 13 May
The Now Evening Auction contextualizes masterpieces for both established and newly recognized artists. totalizing $32.7M with 94% of the lots sold against a presale estimate range of $30.2M to $42.6M representing only 72% of the initial maximum forecast.
The equivalent sale in May 2023 brought $37.2M, meaning this year’s version achieved only around 7.5% less by value. Five of the 17 lots to actually cross the block carried both a house guarantee and a third-party irrevocable bid; their collective low estimates totaled $11M, more than one-third of the hammer total for The Now.
Of the 17 lots offered, 13 hammered within or above their respective pre-sale estimate ranges. The sale was also comfortably majority women, with female artists contributing 70% of the lots by volume and around 55% of the sale’s total by value.
Kerry James Marshall
At the auction, Kerry James Marshall Vignette #6 reached a price of $7.482.800, making it the highest selling lot. Situated in a serene and idyllic rural backdrop, the artwork exemplifies Kerry James Marshall’s oeuvre, which revolutionizes the Western canon and delves into the exploration of Black identity and representation. Despite being the most significant sale at The Now Evening auction, Kerry James Marshall’s piece did not achieve the projected maximum price of around $10M.
Kerry James Marshall
Vignette #6, 2005
Acrylic on Plexiglas, in artist’s frame
166 cm
Estimate: $7.000.000 – $10.000.000
Sold: $7.482.800
Avery Singer
Avery Singer Happening, 2014 was another noteworthy sale that was successfully concluded for $3.206.000. The art piece embodies the artist’s tongue-in-cheek digital idiom that draws inspiration from both past and future, resulting in a monumental and psychologically impactful work.
Avery Singer
Happening, 2014
Acrylic on canvas
254 x 304 cm
Estimate: $2.500.000 – $3.500.000
Sold: $3.206.000
Justin Caguiat
The opening painting of the auction night was The Saint is Never Busy, 2019, which sold for a remarkable $1.092.000 in just six and a half minutes, nearly triple its high target of $300.000. Represented by Modern Art Gallery, the artists already achieved a milestone last year at Sothebys with To the approach of beauty its body is fungible a large-scale canvas from 2020 sold for an impressive $787.400, surpassing its estimated value of $200.000.
Justin Caguiat
The saint is never busy, 2019
Oil on canvas, in artist’s frame
222 x 289 cm
Estimate: $200.000 – $300.000
Sold: $1.092.000
Takako Yamaguchi
Takako Yamaguchi, represented by Ortuzar Project Gallery, was auctioned Untitled, 1998. The sumptuous painting, almost two meters high, also exceeded expectations and achieved a sale price of $825.500.
Takako Yamaguchi
Untitled, 1998
Oil and metal leaf on paper
201 x 107 cm
Estimate: $400.000 – $600.000
Sold: $825.500
Sotheby’s Contemporary Evening Auction – 13 May
The Contemporary Evening Sale in May 2024 showcases artworks of the latter half of the 20th Century, spanning from Post-War abstraction in America and Europe to Color-Field painting, Minimalism, and the Pop Art movement, and delving into the critical inquiries of postmodernism in the 1980s and 1990s
The Contemporary Evening Auction contextualizes masterpieces for both established and newly recognized artists totalizing $234.5M with 92% of the lots sold against a presale estimate range of $209.4M to $301.8M representing only 71.42% of the initial maximum forecast.
Francis Bacon
Francis Bacon’s art reached its peak in his portrayal of his lover, George Dyer, capturing the highs and lows of their relationship. After around 90 seconds of activity, this Portrait went for $27.7M. It’s somewhat a bit disappointing, as its hammer price fell below its low estimate. The artist record was set in 2013 at Christie’s with Three Studies of Lucian Freud, 1969 purchased for $142.4M.
Francis Bacon
Portrait of George Dyer Crouching, 1966
Oil on canvas
198 x 147 cm
Estimate: $30.000.000 – $50.000.000
Sold: $27.735.000
Joan Mitchell
Joan Mitchell‘s quartet of paintings, which spanned almost her entire career, was obtained by Greg Renker, co-founder of the American multi-level marketing empire Guthy-Renker. The artist was one of the few selected who exceeded expectations at the auction. Belonging to a renowned private collection, Noon,1969 who was initially valued between $15M to $20M, ended up reaching a price of over $22.6M.
Joan Mitchell
Noon, 1969
Oil on canvas
259 x 200 cm
Estimate: $15.000.000 – $20.000.000
Sold: $22.615.000
Andy Warhol and Jean-Michel Basquiat
The artwork named Untitled, 1984 created through a collaboration between Andy Warhol and Jean-Michel Basquiat, has fetched a price of $19.367.500, coming close to its maximum estimated worth of $20M.
Andy Warhol and Jean-Michel Basquiat
Untitled, 1984
Acrylic, silkscreen ink, oilstick/canvas
294 x 419 cm
Estimate: $15.000.000 – $20.000.000
Sold: $19.367.500
Andy Warhol
Andy Warhol’s massive Flowers, 1964, a 208cm by 208cm fluorescent silkscreen, bloomed on the block, and made the evening’s top price of $30.5M, $35.4M with Buyer Premium.
Andy Warhol
Late Four-Foot Flowers, 1967
Acrylic, silkscreen ink and graphite on canvas
121 x 121 cm
Estimate: $7.000.000 – $10.000.000
Sold: $11.250.000
Cy Twombly
Cy Twombly‘s 1959 creation proved to be another highlight of the evening, selling for $7.458.300, surpassing the expected sales average and exceeding all expectations. As an American painter, sculptor, and photographer, Twombly‘s unique vision and artistic prowess shone through in this remarkable piece, captivating collectors and enthusiasts alike. In 2015, at Sotheby’s New York, the artwork Untitled (New York City), 1968, set an auction record by selling for $70.530.000.
Cy Twombly
Untitled, 1959
Oil, oil based house paint and graphite on canvas
96 x 142 cm
Estimate: 4.000.000 – 6.000.000
Sold: $7.458.300
Yayoi Kusama
Yayoi Kusama’s presence at the Sotheby’s Contemporary Evening Auction did not go unnoticed, as her artwork Pacific Ocean sold for $4.6M tripling the estimated price, highlighting her significance in the contemporary art market. Untitled (Nets), 1959 is the artist’s auction record, sold for $10.496.000 in 2022 by Phillips New York.
Yayoi Kusama
The Pacific Ocean, 1958
Oil on canvas
122 x 175 cm
Estimate: $1.000.000 – $1.500.000
Sold: $4.658.000
Joan Mitchell
Once again, we bring attention to another masterpiece by Joan Mitchell, Untitled, 1973, sold for an impressive $2.38M exceeding the anticipated average and highlighting her exceptional talent.
Joan Mitchell
Untitled, 1973
Oil on canvas
80 x 40 cm
Estimate: $1.000.000 – $1.500.000
Sold: $2.380.000
Sotheby’s Contemporary Day Auction – 14 May
Sotheby’s Contemporary Day Auction featured incredible artworks sold to support the Walker Art Center in Minneapolis, a remarkable display of Warhol’s renowned Toy Painting series, and pieces from the historically significant Barbara and Daniel Fendrick Collection.
The Contemporary Day Auction in New York totaled $93.522.547 and 87% of the lots were sold. The highest projected value for this auction was $82.479.000, with a successful actual sales representing 113% of the initial maximum forecast.
Antony Gormley
The top lot of the sale was Angel of the North,1997 one of Antony Gormley’s best-known sculptures provided by White Cube Gallery which reached $3.266.500, constructed in Gateshead in 1998, it has become one of the most well-known landmarks in the country. Christie’s London sold the artist’s record, A Case for an Angel I, 1989, for $6.710.202 in 2017.
Antony Gormley
Angel of the North, 1997
Bronze
99 x 262 x 20 cm
Estimate: $2.500.000 – $3.500.000 USD
Sold: $3.266.500
Cy Twombly
A remarkable outcome of the auction was the sale of Cy Twombly’s Klu,1951 which fetched a staggering $1.512.000, far surpassing the top estimate of $600.000. Bearing exceptional provenance having been gifted by the artist to Robert Motherwell and remaining in the artist’s collection until his death, the present work is a testament to the kind of collaborative experimentation and thought between artists of this period.
Cy Twombly
Klu, 1951
Oil based house paint and earth on canvas
101 x 132 cm
Estimate: $400.000 – $600.000
Sold: $1.512.000
Lucy Bull
Lucy Bull’s Loving Tongue, 2019 painting, fetched $762.000 above expectations of $400.000. In this art piece, the artist fervently strives to intensify sensory encounters, captivating viewers by constructing environments that invite exploration and wandering. The artist set a new record this spring with 16:10:00 painting from 2020 fetching $1.814.500 during The Now Evening Auction held at Sotheby’s New York.
Lucy Bull
Loving Tongue, 2019
Oil on linen
127 x 76 cm
Estimate: $350.000 – $450.000
Sold: $762.000
Latin American Artists
We are pleased to emphasize the incorporation of several sculptures by Fernando Botero, which has led to remarkable outcomes. Additionally, let’s take a note on the works of other notable Latin American artists who hold significance in the secondary market.
Olga de Amaral
The sale of Pueblo X, 2013 an artwork by Olga de Amaral, shatters the artist’s previous record, reaching a remarkable $698.500. Until now, Amaral has held the record for Cesta Lunar 50a, 1991, which sold for $555.000 during the Contemporary Art Morning Auction in 2018, at Sotheby’s New York. Let’s note that important artworks are currently participating from the exhibition Weaving in abstraction at the Metropolitan Museum in New York.
Olga de Amaral
Pueblo X, 2013
Gold leaf, acrylic and gesso on linen
200 x 100 cm
Estimate: $250.000 – $350.000
Sold: $698.500
Jesús Rafael Soto
Jesús Rafael Soto’s historical Escritura de Oslo from 1968 reached $381.000.
Jesús Rafael Soto
Escritura de Oslo, 1968
Painted wood construction with painted metal and nylon filament
102 x 172 x 16 cm
Estimate: $300.000 – $400.000
Sold: $381.000
Another Jesús Rafael Soto’s artwork, Petit bleu, exceeded expectations by selling for $146.050, a remarkable $26.000 more than anticipated. Sotheby’s New York witnessed a historic moment in May 2018 when the artist’s work Vibración Blanca, 1959 fetched an unprecedented price of $1M at the Contemporary Art Evening Sale.
Jesús Rafael Soto
Petit bleu, 1965
Painted wood construction
84 x 84 x 18 cm
Estimate: $80.000 – $120.000
Sold: $146.050
Carlos Cruz-Diez
We recorded another above-average result for Physichromie No. 508, 1970 by Carlos Cruz-Diez which sold for $279.400. The market of the artist has been quite valued lately since the artist studio increased its price list by more than 30%.
Carlos Cruz-Diez
Physichromie No. 508, 1970
Acrylic, plastic elements and aluminum on panel, in artist’s wooden frame
100 x 120 cm
Estimate: $150.000 – $200.000
Sold: $279.400
Sotheby’s Modern Evening Auction – 15 May
The current evening auction features 52 lots with approximately the same number of lots offered in the previous year’s sale 54 lots. However, betting on more attractive pricing with estimated value significantly lower with just $184M this year representing a 39% drop from the total sales value of $303M in 2023. Let’s not forget that the sale coincides with the 150th anniversary of the first Impressionist exhibition in 1874.
Claude Monet
Monet’s Meules à Giverny, 1893, reached impressive $34.804.500. The auction record for the artist is hold by an other painting of Les Meules dated from 1890 which sold for $110.747.000 at Sotheby’s New York in 2019.
Claude Monet
Meules à Giverny, 1893
Oil on canvas
65 x 100 cm
Estimate Upon Request
Sold: $34.804.500
Leonora Carrington
The iconic painting Les Distractions de Dagobert, 1945 broke the record for the artist with a result of $28.485.000 acquired by Eduardo Costantini the Director of MALBA Museum. The 2022 Venice Biennale, which referenced Carrington‘s writing in its title, The Milk of Dreams, has brought a surge of awareness about the artist.
Leonora Carrington
Les Distractions de Dagobert, 1945
Tempera on Masonite
75 x 87 cm
Estimate: $12.000.000 – $18.000.000
Sold: $28.485.000
René Magritte
Created between 1955 and 1957, Le Banquet is a remarkable illustration of René Magritte’s unique talent to capture the essence of the gap between perception and our visual encounter with reality fetched a reasonable $18.144.000 compared to its reccord with in 2022 at Sothebys New York L’Empire des Lumières, fetching $42.3M.
René Magritte
Le Banquet, 1955-1957
Oil on canvas
75 x 121 cm
Estimate: $15.000.000 – $20.000.000
Sold: $18.144.000
Alexander Calder
Blue Moon is a masterpiece that combines sound, form, color, and motion, showcasing Alexander Calder’s innovative and ambitious approach to sculpture was another outstanding sale at the Modern Evening Auction sold for $14.352.300. In 2014, at Christie’s NY sales, Calder’s Poisson Volant, 1957, hit the auction record for $25.925.000.
Alexander Calder
Blue Moon, 1962
Sheet metal, rod, wire and paint
152 x 762 cm
Estimate: $7.000.000 – $10.000.000
Sold: $14.352.300
Remedios Varo
Another remarkable sale for a Latin American Surrealist artist could be illustrated by Esquiador (Viajero), 1960, which went for impressive $4.174.000 quite closer to the artist record sale of $6.186.800 with Armonia, 1956 sold at Sotheby’s in 2020.
Remedios Varo
Esquiador (Viajero), 1960
Oil on Masonite
44 x 32 cm
Estimate: $1.000.000 – $1.500.000
Sold: $4.174.000
Pierre Bonnard
Surpassing all sales expectations, Nu s’habillant dated from 1925 achieved an impressive sale value of $3.085.000. The artist achieved a record-breaking sale in 2019 at Christie’s New York auction, where La Terrasse or Une terrasse à Grasse, 1912 was sold for a staggering $19.570.000.
Pierre Bonnard
Nu s’habillant, 1925
Oil on canvas
74 x 45 cm
Estimate: $800.000 – $1.200.000
Sold: $3.085.000
Sotheby’s Modern Day Auction – 16 May
Sotheby’s Modern Day Auction brings together artwork from Europe and the Americas spanning a century, highlighting the finest works from Impressionism to Abstract Expressionism. In May, Sotheby’s will be featuring a selection of valuable possessions from notable private collectors, including Helene and Zygfryd Wolloch and the Meier Family of Portland, Oregon. Our focus in the sale is on notable items, specifically the works of Latin American painters Diego Rivera, Rufino Tamayo, and Wifredo Lam.
Sotheby’s Modern Day Auction brings together artwork from Europe Americas highlighting the finest works from Impressionism to Abstract Expressionism featuring notable private collectors, including Helene and Zygfryd Wolloch and the Meier Family of Portland, Oregon.
The Modern Day Auction contextualizes masterpieces for both established and newly recognized artists totaling $57.1M with 93% of the lots sold against a presale estimate range of $41M to $58.3M representing 90.98% of the initial maximum forecast.
Henri Matisse
The artwork Jeune fille au chapeau de crin blanc, 1923 by Henri Matisse stood out as a prominent feature of this auction, surpassing expectations by selling for $4.355.500. Although the painting has achieved sales above the average, it still falls short compared to the artist’s auction record. The record, held by Christie’s New York in 2018, is for the artwork Odalisque couchée aux magnolias, 1923, with a value of $80.750.000.
Henri Matisse
Jeune fille au chapeau de crin blanc, 1923
Oil on canvas
47 x 39 cm
Estimative: $1.500.000 – $2.500.000
Sold: $4.355.500
René Magritte
L’État de veille, 1958 is one of several gouaches by Magritte that depict his iconic motifs of cloud-filled skies and framed windows. The artwork from 1958 was successfully auctioned off, fetching a notable amount of $1.572.500 triplicating its high estimate.
René Magritte
L’État de veille, 1958
Gouache on paper
19 x 24 cm
Estimative: $400.000 – $600.000
Sold: $1.572.500
Willem de Kooning
Willem de Kooning’s Untitled, 1967 characterized by its striking coral, golden yellow, deep red, and captivating white and aquamarine pigments, fetched a price of $825.500 at the auction.
Willem de Kooning
Untitled, 1967
Oil and charcoal on vellum mounted on canvas
134 x 106 cm
Estimative: $400.000 – $600.000
Sold: $825.500
Alexej von Jawlensky
The painting Divine Glow, 1918 by the Russian expressionist painter achieved a value of $762.000, duplicating its high estimate. The record for this artist was set in 2008 at Sotheby’s London with Schokko,1910, purchased for $13.608.000.
Alexej von Jawlensky
Abstrakter Kopf: Göttliches Leuchten (Abstract Head: Divine Glow), 1918
Oil on board
42 x 32 cm
Estimative: $250.000 – $350.000
Sold: $762.000
Rufino Tamayo
Rufino Tamayo’s painting, Sandías, created in 1972, showcases Tamayo’s skill in using color and form, and demonstrates his strong affinity for pre-Columbian influences. The artwork fetched a price of $762.000 upon sale. America, from 1955, holds the auction record for Rufino Tamayo, sold for $6.802.500 in 2008 by Sotheby’s New York.
Rufino Tamayo
Sandías, 1972
Oil and sand on canvas
45 x 65 cm
Estimative: $600.000 – $800.000
Sold: $762.000
Diego Rivera
With sales failing to meet the minimum estimated value, Mercado de Flores (Grupo de ocho mujeres), produced in 1936, fetched a price of $533.400. The Rivals, 1931, by Diego Rivera, reached an impressive $14.130.000 at Christie’s New York in 2022, setting the auction record for the artist.
Diego Rivera
Mercado de Flores (Grupo de ocho mujeres), 1936
Tempera on linen mounted on Masonite
60 x 82 cm
Estimative: $600.000 – $800.000
Sold: $533.400
Philips
Philips‘ Modern & Contemporary Art Evening Sale – 14 May
The Modern & Contemporary Art Evening Sale by Phillips showcased significant works of art from both established and emerging artists of the modern and contemporary periods. Phillips is known for its expertise particularly in the contemporary and modern categories.
Modern & Contemporary Art Day Sale Afternoon Session contextualizes masterpieces for both established and newly recognized artists totalizing $86.2M with 83% of the lots sold against a presale estimate range of $74.9M to $113.5M a performance representing 83% of the initial maximum forecast.
Jean-Michel Basquiat
After 40 years of being kept private, Basquiat‘s 1982 artwork, Untitled (ELMAR), 1982 was sold for $46.479.000 its first exhibition price at auction.
Jean-Michel Basquiat
Untitled (ELMAR), 1982
Acrylic, oilstick, spray paint and Xerox collage on canvas
172 x 236 cm
Estimate: $40.000.000 – $60.000.000
Sold: $46.479.000
Helen Frankenthaler
Another standout at this auction was Helen Frankenthaler, whose piece Acres, 1959 sold for $3.690.000, exceeding its high estimate total of $2.500.000. The artist achieved the highest auction record at Sothebys in 2020, as their artwork Royal Fireworks, 1975 sold for a staggering $7.895.300.
Helen Frankenthaler
Acres, 1959
Oil on canvas
235 x 239 cm
Estimate: $1.800.000 – $2.500.000
Sold: $3.690.000
Derek Fordjour
Derek Fordjour has also achieved notable sales success, as evidenced by his work Numbers, 2018, which generated a sales value of $889.000, setting a new auction record for the artist.
Derek Fordjour
Numbers, 2018
Acrylic, charcoal and oil pastel on newspaper, mounted on canvas
182 x 121 cm
Estimate: $400.000 – $600.000
Sold: $889.000
Noah Davis
Boy with Glass, created in 2010, showcases Noah Davis’ talent for imbuing ordinary life with profound emotional significance. The artwork, which was estimated to be worth $150.000 to $200.000, sold for a price higher than the expected average value of $279.400. The artist’s record-breaking work Congo #7, 2014 sold for $1.500.000 in 2022 at Christie’s New York.
Noah Davis
Untitled (Boy with Glasses), 2010
Oil on canvas
25 x 25 cm
Estimate: $150.000 – $200.000
Sold: $279.400
Philips‘ Modern & Contemporary Art Day Sale – Morning Session – 15 May
Modern & Contemporary Art Day Sale Morning Session contextualizes masterpieces for both established and newly recognized artists totaling $11.8M with 78% of the lots sold against a presale estimate range of $13.5M to $20.3M representing only 41,87% of the initial maximum forecast.
Joan Mitchell
Untitled, 1975 was sold for $584.200. It was painted the year following the artist’s groundbreaking exhibition at the Whitney Museum of American Art, New York.
Joan Mitchell
Untitled, 1975
oil on canvas, diptych
33 x 46 cm
Estimate: $350.000 – $550.000
Sold: $584.200
On Kawara
NOV. 8 (from Today Series, no. 23), 1977, exceeded expectations and sold for $330.200. Untitled (Decade), 1990-1999 marks the artist’s auction record in 2017 at Sotheby’s New York for $4.175.000.
On Kawara
NOV. 8, 1977
Liquitex on canvas with newspaper clipping in artist’s box
20 x 26 cm
Estimate: $150.000 – $200.000
Sold: $330.200
Neil Jenney
The artwork Biosphere #3, 1971-1975 was auctioned for $323.850, surpassing the maximum estimated value of $60.000. Christie’s New York in 2016, achieved a record-breaking sale of $965.000 for the artwork Threat and Sanctuary, 1969, establishing it as the artist’s highest auction result.
Neil Jenney
Biosphere #3, 1971–1975
Oil on panel, in artist’s frame, in two parts
78 x 655 x 12 cm
Estimate: $40.000 – $60.000
Sold: $323.850
Lois Dodd
The sale of Wild Geraniums at auction set the artist’s second-highest record, reaching a price of $228.600, just shy of his all-time highest sale. The artist set a new auction record this year with the sale of Green Door and Bed, 1994 for $239.400 at Christie’s New York auction.
Lois Dodd
Wild Geraniums, 1974
Acrylic on canvas
122 x 94 cm
Estimate: $60.000 – $80.000
Sold: $279.400
Emmi Whitehorse
The artwork titled Canyon Lake I, 2001 by Emmi Whitehorse has achieved a new auction record for the artist, fetching a price of $177.800 significantly surpassing the anticipated maximum value.
Emmi Whitehorse (Diné)
Canyon Lake I, 2001
Oil pastel on paper mounted to canvas
100 x 129 cm
Estimate: $40.000 – $60.000
Sold: $177.800
Milton Avery
Avery’s painting titled Dark Sea, Dark Sky, 1959 fetched a price of $139.700, exceeding the anticipated value and concluding the auction on a high note.The artist’s record-breaking piece, The Letter, 1945, was auctioned by Sotheby’s New York in 2022 for $6.069.500.
Milton Avery
Dark Sea, Dark Sky, 1959
Oil on canvasboard
23 x 30 cm
Estimate: $25.000 – $35.000
Sold: $139.700
Philips‘ Modern & Contemporary Art Day Sale – Afternoon Session – 15 May
Modern & Contemporary Art Day Sale Afternoon Session contextualizes masterpieces for both established and newly recognized artists totalizing $7.2M with 80% of the lots sold against a presale estimate range of $5.6M to $3.9M representing 80% of the initial maximum forecast. Among the 132 lots available, 32% were sold at prices surpassing the highest average.
Salvo
Al mattino, 2004 by the artist Salvo reached a sale price of $254.000, above the expected average of $150.000.
Salvo
Al mattino, 2004
Oil on canvas
100 x 130 cm
Estimate: $100.000 – $150.000
Sold: $254.000
Dan Colen
Dan Colen, another artist who stood out with above-average sales, his work Mother (Well), 2018, sold for $165.100. The artist’s auction record is Boo Fuck’n Hoo, 2006 for the price of $3.077.000 in 2014 by Christie’s New York.
Dan Colen
Mother (Well), 2018
Oil on canvas
63 x 81 cm
Estimate: $10.000 – $15.000
Sold: $165.100
Kehinde Wiley
Memling’s Portrait of Jacob Obrecht, 2013 measuring 81.3 x 90.2 cm, sold for more than its estimated price of $80.000 to $120.000, reaching $152.400. In 2024, the artist achieved a new auction record of $717.751 with Christian Martyr Tarcisius, 2008 for Phillips London.
Kehinde Wiley
After Memling’s Portrait of Jacob Obrecht, 2013
81 x 90 cm
Estimate: $80.000 – $120.000
Sold: $152.400
Francesca Mollet
The artist’s second auction record was set with the sale of Sancreed painting from 2020, which fetched $139.700. Last year’s auction record, Two Thistles, 2021 was sold for $276.057 by Phillips London in 2023.
Francesca Mollett
Sancreed, 2020
Oil and acrylic on canvas
120 x 100 cm
Estimate: $40.000 – $60.000
Sold: $139.700
Jenna Gribbon
The price for My place beside her in bed, 2019 exceeded the anticipated average, selling for $133.350. The artist’s auction record was set in 2020 at Christie’s New York with their work Regarding Me Regarding You and Me, 2020 selling for $478.800.
Jenna Gribbon
My place beside her in bed, 2019
Oil on linen
40 x 30 cm
Estimate: $50.000 – $70.000
Sold: $133.350
Jill Mulleady
A thousand natural shocks, 2017 by Jill Mulleady achieved a selling price of $120.650, slightly exceeding the expected average. Sotheby’s Hong Kong auctioned the artwork titled Great Pains to Simplify my Environment, 2019, setting a record price of $163.403 in 2021.
Jill Mulleady
A thousand natural shocks, 2017
Oil on canvas
121 x 91 cm
Estimate: $70.000 – $100.000
Sold: $120.650
Four of the world’s leading auction houses sold almost $1.4 billion worth of art in New York last week, towards the low end of estimates ranging from $1.3 billion to $1.8 billion. That marks a 22% decline from $1.8 billion in 2023, and a 36% drop from $2.5 billion in 2022.
Let’s mention that the 3 houses secured irrevocable bids from third parties guarantees . This indicates a cautious market approach, securing sales through pre-arranged bids amidst uncertain bidding dynamics.
This results reflect a market in flux, with solid performances offset by unmet high expectations. The art world watches closely as the season unfolds, seeking signs of recovery and renewed vibrancy in the market.
