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With the fall auction season kicking off in New York City on Wednesday night, Christie’s anticipated sales of works amassed by tech mogul and Microsoft co-founder Paul G. Raised $1.5 billion.
The result is the highest amount ever achieved by a single owner sale ever put up for auction. This comes from his $922 million generated by a court-ordered sale of the McCullough collection at Sotheby’s earlier this year, and a total of $8 million drawn upon the sale of David Rockefeller’s collection at Christie’s in 2018. surpassed $35 million.
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The White Glove Sale offered 60 lots each, all backed by financial guarantees, buyers attached and rarely sold below the high quotes. 35 lots of the sale held third party guarantees. This is the minimum bid secured by an auction house in a transaction with an outside party prior to a sale for the purpose of offsetting financial risk. The collection exceeded her lofty $1.38 billion expectations specified by Christie’s.
Christie’s auctioneer Adrian Meyer took the stage to lead the first part of Wednesday’s auction, handing the gavel to Christie’s European president Jussi Pirkanen around midnight. The threat of a looming recession. Her 2.5-hour event on Wednesday, which drew an estimated 250 spectators, saw a stalemate bidding among experts as international competition for Allen’s long-standing artwork intensified during the sale.
Proceeds from the sale will go to the charities Allen founded before he died in 2018 at the age of 65. Her second tranche of a total of 150 pieces from Allen’s estate for sale by Christie’s will be offered at Thursday’s day sale.
If there was ever any sign that billionaire wealth was being shielded from recession, it was tonight’s result. Collector Alberto Mughrabi said art news “There were no signs of a recession,” he said in an overnight auction that resulted in more than $1 billion in sales on the way.
Twenty records from artists spanning decades of art history canons, from Gustav Klimt to Andrew Weiss, have been set for sale.
Huge numbers of markets existed. Lurking in the dimly lit wing near the entrance to the auction room was Christie’s CEO Guillaume Cerruti. The French executive, known for his calm demeanor, said he was paying close attention to the telephone bank hosting his international experts. art news After the sale, “queues around the block” to see the work at Rockefeller headquarters by Wednesday surprised him. There was Brett Gorvey, Dominic Levy, Philip Hoffman and Larry Gagosian.
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Cézanne, Van Gogh, Klimt reach $100 million.
Five pieces in Wednesday’s sale hit over $100 million.
Among the works exhibited in the first half of the sale, Georges Seurat’s work was the most expensive overall Les Poséuses, Ensemble (Petite version), A canvas depicting three nude women in the style of pointillism by the artist between 1888 and 1890. A bidder over the phone with her Xin Li, chairman of Christie’s Asia, won the piece with a $130 million bid, and the room erupted in applause. The final price for the piece, with buyer’s fees, was $149 million, exceeding the $100 million estimate.
Seurat was one of the few works won by a bidder who called Lee. At the auction, his 12% of the lot went to an Asia-based buyer.
“It’s really important to me,” said Larry Gagosian art news After the sale, “the thing was that Asian buyers seemed very enthusiastic.”
Another major sale was Paul Cézanne’s La Montagne Sainte Victoire, a panoramic view of the Ark Valley in France, completed between 1888 and 1890. The painting won a bid of $120 million, meeting pre-sale expectations, with a final price of $138 million going to Jussi Pylkannen and the sole bidder over the phone. with fees. The result surpassed his previous record of $60.5 million, which Cézanne set 20 years earlier.
Other Vincent Van Gogh Verger avec cypresan outdoor landscape (estimated at $100 million) that has been in the Allen collection for over 20 years sold for a record $117 million, including commissions.
Plus an 1899 oil painting by Paul Gauguin Maternité II The painting, which depicts three partially nude Tahitian women posing in front of a pink background, sold for $106 million including commissions, against an estimated $90 million. The price surpasses Gauguin’s previous auction record of $40 million, L’homme a la hache (1891) At Christie’s in 2006.
Gustav Klimt’s 1903 intimate landscape birch forest, Subject to a massive return to Adele Bloch-Bauer’s heirs, it sold for $105 million, including commissions. The price set a new auction benchmark for Austrian painters, set in 2006 with her $88 million.
Artistic appraiser David Shapiro described the number of single lots exceeding $100 million in one night as “unprecedented.” art news It shows that “demand is still very strong” for Impressionist and contemporary works.
A 24-inch diameter Tondo painting by Sandro Botticelli, depicting the Virgin Mary and Christ as a child, Magnificat Madonna, It was one of the few Old Masters productions within the group. Made in the late 1480s, when Botticelli’s studio was thriving, the painting sold for $42 million, well above its estimated $40 million.
Another work by the 16th-century Flemish artist Jan Brueghel the Younger was offered as a single lot of five separate canvases, slowly tendered between four experts in New York and London. rice field. The competition raised Hammer over its high estimate to $7.2 million, with a final price of $8.3 million, setting a new record for an artist.
Photo by Wiktor Szymanowicz/Getty Images.
Set new records for Freud, Wyeth, Steichen and more
Many new records were set, even for artists whose works earned less money.
Lucien Freud Large interior, W11 (after Watteau), The artist’s painting of four figures cuddling up on a bed depicting children and a lover sold for an estimated $75 million, with Sarah Friedlander, vice chairman of Christie’s New York, on the phone with the buyer.
A stalemate in the bidding war between Christie’s Asia chairman Jin Lee and Christie’s West Coast chairman Elanor Notides set Andrew Weiss’ picture in motion. daydream (1980) The $20 Million Hammer Price – A staggering figure for a piece estimated at $2 million. According to New York art adviser Erica Samuels, the painting is a voyeuristic view of a naked woman sleeping in a bed placed under a gauze canopy, and was on the “surprise” lot that night. The final price of $23.3 million doubled the previous milestone auction price of $10.4 million set for Weiss’ sale at Christie’s in 2007. Ericson’s (1973).
Female artists especially triumphed while the best male artists dominated sales. Georgia O’Keefe’s 1927 floral abstraction sparked a bidding frenzy and sold for more than four times her low estimate of $6 million, bringing the final price to her $26.7 million, including commissions. . That amount fell short of O’Keeffe’s auction record of her $44 million.This record was set in 2014 Jimson Weed / White Flower No. 1, 1932 at Sotheby’s, New York.
Sculptures and paintings by Barbara Hepworth, Max Ernst, Diego Rivera, and Thomas Hart Benton were then recorded with prices ranging from $8 million to $24 million.
One of the other eye-catching records of the night was the sale of Edward Steichen’s famous 1904 photograph of New York’s Flatiron Building. Drawing competition from bidders over the phone with Christie’s Dallas-based agent Capella Ryan and photography expert Darius Himes, the hammer’s price climbed to $10 million and fell to a low of $2 million. Sold for a final price of $11.8 million, including fees, the result was the second highest price ever paid for a photograph at auction. At Christie’s he’s just shy of his $12.4 million, the record set in Man Ray’s photo in May.
“People thought the fireworks happened at the top,” said art dealer David Norman. art news follow the sale.
Regarding lots estimated below $20 million, Norman said: Seeing multiple bidders on so many great pieces of art and so many lots in the midst of everything going on in the world on all fronts gives you a shot of confidence to start the week. ”
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