{"id":1979,"date":"2023-11-13T10:12:02","date_gmt":"2023-11-13T02:12:02","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=1979"},"modified":"2023-11-13T10:12:02","modified_gmt":"2023-11-13T02:12:02","slug":"christies-first-big-auction-of-the-fall-season-in-new-york-disappoints-as-blue-chip-artists-flounder","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/christies-first-big-auction-of-the-fall-season-in-new-york-disappoints-as-blue-chip-artists-flounder\/","title":{"rendered":"Christie\u2019s First Big Auction of the Fall Season in New York Disappoints as Blue-Chip Artists Flounder"},"content":{"rendered":"

Christie\u2019s first evening sale of the marquee November auctions in New York fell short of expectations, hammering beneath its low estimate and failing to deliver strong results for well-established artists.<\/p>\n

Held on Tuesday night, the sale was dedicated to art made in the 21st century and hammered at $88.4 million, about $8 million short of its $96 million presale estimate. With premium, it netted just $107.5 million across 42 lots.<\/p>\n

Records usually boost morale during lackluster sales, and indeed, there were four during this auction: Jad\u00e9 Fadojutimi, Jenna Gribbon, Jia Aili, and Ilana Savdie all saw new benchmarks set. But overall, the atmosphere was subdued, with many of the most valuable lots failing to reach their low estimates.<\/p>\n

Thirteen of the lots were secured with financial backing via in-house or third-party guarantees. Even still, the result fell below the $114 million achieved in last year\u2019s equivalent sale, which featured even fewer lots.<\/p>\n

Notable works by Cy Twombly and Jean-Michel Basquiat are typically surefire hits at auction, but even these pieces could not inject momentum.<\/p>\n

Twombly\u2019s\u00a0<\/a>Untitled (Bacchus 1st Version II),\u00a0<\/em>a red-hued abstraction painted on a wood panel, was estimated to fetch a price up to $25 million. The large painting had last been exhibited publicly at a Gagosian-organized show in Moscow in 2008, and if bidders had hotly anticipated its return to market, it did not show in the bidding. The piece hammered at $17 million, well below its low estimate, going to a bidder in the room for a final price of $20 million.<\/p>\n

Meanwhile, a 1981 untitled painting by Basquiat hammered at its low estimate of $10 million, going for $11.9 million with fees. Works by John Currin, Andy Warhol, Keith Haring, George Condo, and Mark Bradford similarly struggled to attract attention, with each failing to make it past its low estimate.<\/p>\n

\u201c[Christie\u2019s] did a good job of pricing things right, but it was still stressful, I think, behind the rostrum,\u201d art adviser Hugo Nathan told\u00a0ARTnews<\/em>. \u201cThe most obvious thing is that the artists that were leading the market ten years ago\u2014Jeff Koons, John Currin\u2014aren\u2019t seeing the results they used to.\u201d<\/p>\n

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Christie\u2019s New York sale room, November 7, 2023.<\/span><\/figcaption><\/figure>\n<\/div>\n

Instead, it was artists with less established markets that shined here\u2014most notably female figurative painters.<\/p>\n

A painting by the Berlin-based artist Stefanie Heinze was the sale\u2019s opening lot. It hammered at $190,000, more than three times the estimate of $60,000, going to a bidder on the phone with a Christie\u2019s New York contemporary art specialist. That work was followed by Los Angeles\u2013based painter Jenna Gribbon\u2019<\/a>s\u00a0Regarding Me Regarding You and Me<\/em>\u00a0(2020). The painting, an image of Gribbon\u2019s nude partner, was expected to sell for $150,000; it sold for more than three times that sum, finding a buyer for a price of $478,800 with premium.<\/p>\n

Jenny Saville\u2019s\u00a0<\/a>Persephone\u00a0<\/em>(2019\u201321), an image of a woman\u2019s head surrounded by gestural pink brushstrokes, hammered above its high estimate of $3 million, selling for a final price of $3.7 million with fees.<\/p>\n

Paintings by Jad\u00e9 Fadojutimi and Jia Aili went for $4 million and $1.7 million, respectively. Those results put these paintings among the few lots by living artists made in the last few years to sell in the seven figures\u2014 each high of the figures were new records for the artists.<\/p>\n

A work by Brooklyn-based painter Sanya Kantarovsky provided one of the night\u2019s few surprises. His 2022 painting\u00a0Charnal Field<\/em>, featuring a partially underwater skeleton, went for $201,600, nearly doubling its high estimate. The painting ultimate sold to a bidder on the phone with Tan Bo, a representative based in Christie\u2019s Beijing office.<\/p>\n

Robert Colescott\u2019s\u00a0Eat dem Taters<\/em><\/a>\u00a0(1975), a painting that replaces the potato eaters of a famed van Gogh painting with Black figures, likewise fared well. Relatives of American art historian Robert Rosenblum, who died in 2006, had owned the painting since the year it was made and had even loaned it to a recent New Museum survey for Colescott. The work, one of the few historically significant lots in the sale that wasn\u2019t valued in the high millions, went for $3.9 million total with fees, meeting its high estimate.<\/p>\n

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

Christie\u2019s first evening sale of the marquee November auctions in New York fell short of expectations, hammering beneath its low estimate and failing to deliver strong results for well-established artists. Held on Tuesday night, the sale was dedicated to art made in the 21st century and hammered at $88.4 million, about $8 million short of […]<\/p>\n","protected":false},"author":2,"featured_media":1980,"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-1979","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":"\nChristie\u2019s First Big Auction of the Fall Season in New York Disappoints as Blue-Chip Artists Flounder - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"Christie\u2019s first evening sale of the marquee November auctions in New York fell short of expectations, hammering beneath its low estimate and failing to deliver strong results for well-established artists.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/christies-first-big-auction-of-the-fall-season-in-new-york-disappoints-as-blue-chip-artists-flounder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Christie\u2019s First Big Auction of the Fall Season in New York Disappoints as Blue-Chip Artists Flounder - 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