{"id":1886,"date":"2023-06-30T16:10:25","date_gmt":"2023-06-30T08:10:25","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=1886"},"modified":"2023-06-30T16:10:25","modified_gmt":"2023-06-30T08:10:25","slug":"big-names-fail-to-bring-momentum-to-christies-81-1-m-london-sales","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/big-names-fail-to-bring-momentum-to-christies-81-1-m-london-sales\/","title":{"rendered":"Big Names Fail to Bring Momentum to Christie\u2019s $81.1 M. London Sales"},"content":{"rendered":"

On Wednesday,\u00a0Christie\u2019s<\/a>\u00a020th\/21st Century evening sale in London generated \u00a363.8 million ($81.1 million) in sales. Despite the big names included, most lots garnered hammer prices below or near their low estimates.<\/p>\n

Unlike\u00a0Sotheby\u2019s London sales<\/a>, which saw a Klimt painting become the most expensive artwork sold\u00a0auction<\/a>\u00a0in Europe, the sale at Christie\u2019s seemed to follow the slow action at the New York auctions in May, where signs of a market correction were evident.<\/p>\n

Blue-chip artists whose works sold at hammer prices below their low estimates included Alberto Burri, Cy Twombly, and Louise Bourgeois. However, works by Edgar Degas, Damien Hirst, and David Hockney sold for well above their high estimates. Several contemporary artists, like Diane Dal-Pra and Ahmed Mater, also saw their work sell for above their estimates and set new auction records.<\/p>\n

In a\u00a0post-auction press conference<\/a>, Christie\u2019s London head of Impressionist and modern art Keith Gill said the sales results reflected the company\u2019s strategy of \u201cpresenting the right works at the right estimates and trying to present works that our clients had not seen at auction before.\u201d<\/p>\n

The auction was particularly focused on portraiture, which Christie\u2019s vice chairman Giavanna Bertazzoni said was \u201cin recognition of the highly anticipated re-opening of the National Portrait Gallery.\u201d<\/p>\n

But the most successful sale wasn\u2019t even a portrait at all. Signac\u2019s oil on canvas painting\u00a0Calanque-des-Canoubiers-Pointe-de-Bamer-Saint-Tropez<\/em>\u00a0(1896) held the highest estimate of the auction,at \u00a35.5 million\u2013\u00a38 million ($7 million\u2013$10.1 million). The pointillist landscape was one of the 13 works that came with third-party guarantees, selling for a final hammer price of \u00a36.7 million ($8.5 million), or \u00a38.02 million ($10.1 million) with fees.\u00a0Calanque-des-Canoubiers-Pointe-de-Bamer-Saint-Tropez<\/em>\u00a0has already been requested for the upcoming exhibition \u201cSymphonies of Color: Signac and Neo-Impressionism,\u201d to be held at the Museum Barberini in Potsdam, Germany in 2026.<\/p>\n

Jean-Michel Basquiat\u2019s 1984 tribute to the legacy of Picasso,\u00a0Untitled (Pablo Picasso),\u00a0<\/em>also had a guarantee. The winning bid came from an in-person bidder for \u00a36.46 million including fees, narrowly missing the high end of its estimate of \u00a34.5 million\u2013\u00a36.5 million.<\/p>\n

Cecily Brown\u2019s\u00a0Kiss Me Stupid<\/em>\u00a0had an estimate of \u00a33 million\u2013\u00a35 million, but the hammer price came in just under the low end at \u00a32.9 million, or \u00a33.549 million with fees. When the oil painting last appeared at auction at\u00a0Sotheby\u2019s in New York in 2008<\/a>, the estimate was $800,000 to $1 million.\u00a0Kiss Me Stupid<\/em>\u00a0also garnered the third-highest selling price among the 68 lots.<\/p>\n

Enthusiastic bidding followed works by Diane Dal-Pra, Sahara Longe, Louis Fratino, and Victor Man.<\/p>\n

Dal-Pra\u2019s surrealist figurative portrait,\u00a0It Belongs to You<\/em>, was the the sale\u2019s first lot. Her 2020 painting of a woman embracing a long-horned goat, carried an estimate of \u00a330,000\u2013\u00a350,000, but went to an online bidder for \u00a3113,400 including fees, setting a new world auction record for the French artist.<\/p>\n

British artist Sahara Longe\u2019s\u00a0Self-Portrait<\/em>\u00a0carried an estimate of \u00a340,000\u2013\u00a360,000 but sold for \u00a3113,400 with fees.<\/p>\n

That energy continued with Fratino\u2019s portrait painting\u00a0Listening to a conch<\/em>, which was the third lot of the afternoon. It carried an estimate of \u00a340,000\u2013\u00a360,000, but realized a price of \u00a3201,600 with fees, more than three times its high estimate.<\/p>\n

Immediately afterward was Man\u2019s 2017 work\u00a0Weiltinnenraum (World Within)<\/em>\u00a0with an estimate of \u00a3100,000 to \u00a3150,000. Bidding quickly pushed the price for the dark figurative portrait beyond the high estimate. After just under five minutes of activity and 25 bidders, Christie\u2019s deputy chairman and head of postwar and contemporary art, Sara Friedlander, placed the winning bid for a final hammer price of $1.4 million.\u00a0Weiltinnenraum (World Within)<\/em>, which had been exhibited at the Gladstone Gallery in New York in 2018, sold for more than \u00a31.7 million including fees, more than ten times its high estimate. It also set a world record for the artist.<\/p>\n

Christie\u2019s auction in London included three works from the Gerald Fineberg Collection: Kazuo Shiraga\u2019s painting\u00a0Choryo (Jumping Dragon)<\/em>, Cy Twombly\u2019s\u00a0Untitled<\/em>\u00a0from 1956, and Josef Albers\u2019\u00a0Study for Homage to the Square<\/em>\u00a0(1972), the last of which sold for \u00a3869,400 with fees. The hammer price for the Shiraga was \u00a31.2 million ($1.52 million), or \u00a31.49 million ($1.9 million) with fees. The same sales price was realized by Twombly\u2019s\u00a0Untitled<\/em>.<\/p>\n

Mater\u2019s photograph\u00a0Magnetism (Triptych)<\/em>\u00a0achieved an auction record for the Saudi artist after a successful hammer bid was received by Christie\u2019s international director Isabelle de la Bruy\u00e8<\/em>re, going for \u00a3150,000, or \u00a3189,000 with fees, on an estimate of \u00a350,000 to \u00a370,000.<\/p>\n

By comparison, Bourgeois\u2019s golden headless sculpture\u00a0Nature Study\u00a0<\/em>also had an estimate of \u00a3800,000 to \u00a31.2 million but sold at a hammer price of \u00a3450,000, or \u00a3567,000 with fees.<\/p>\n

If there were any omens to be found, it may have been for the interest in the final auction lot, Damien Hirst\u2019s\u00a0Love Will Never Die (1999).\u00a0<\/em>The bright red canvas work featuring butterflies and household gloss had an estimate of \u00a3250,000 to \u00a3350,000. But after three minutes of fervent bidding, Christie\u2019s senior vice president Emily Kaplan placed the winning hammer bid of \u00a3425,000, or \u00a3535,500 with fees, to applause in the room.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

Source\uff1ahttps:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday,\u00a0Christie\u2019s\u00a020th\/21st Century evening sale in London generated \u00a363.8 million ($81.1 million) in sales. Despite the big names included, most lots garnered hammer prices below or near their low estimates. Unlike\u00a0Sotheby\u2019s London sales, which saw a Klimt painting become the most expensive artwork sold\u00a0auction\u00a0in Europe, the sale at Christie\u2019s seemed to follow the slow action […]<\/p>\n","protected":false},"author":2,"featured_media":1887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[],"class_list":{"0":"post-1886","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news"},"yoast_head":"\nBig Names Fail to Bring Momentum to Christie\u2019s $81.1 M. 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