Christie’s, which began its spring auction season with three-part auctions in London and Shanghai, sold $ 334 million on Tuesday for its 20th and 21st century works.
During the three sales, 94 of the 105 lots offered were sold. Two works (one by Stanley Whitney and one by Gabriele Münter) were backed by an in-house warranty and the other 20 were protected by third-party support. After several lots were withdrawn, the entire group was expected to obtain an estimated hammer price of £ 202m to £ 290m ($ 269m to $ 386m). (The final total of $ 334 million on the sale includes a premium.)
This was the first time the mid-season London evening sale had been expanded to include a section in the Asian sales room. This represents a home attempt to further incorporate clients across the Asia Pacific region into Marquee Western sales.
Christie’s auctioneer and Shanghai-based jewelry specialist Caroline Liang took the podium on Tuesday night to launch a dual-city sale event entitled “From Shanghai to London in the 20 / 21st Century.” Christie’s European Commission President Jussi Pylkannen took over London and then handed the gavel to his colleague Veronica Scarpati, a London-based 20th and 21st century art specialist, in a section focused on Surrealism. rice field.
The work that won the highest price on Tuesday was Franz Marc’s painting from 1913, which was the subject of a carefully watched proceeding. It was sold after being returned from a German museum in January 2021 to the heir of the former owner Jewish businessman and banker Kurt Grawi. Die Füchse (Foxes), It was sold to bidders at a final price of £ 42.7 million ($ 57 million) over a phone call with Christie’s London-based client liaison Gaia Gazarian. It was expected to raise approximately £ 35 million ($ 46.8 million). The result far exceeded Mark’s previous record of $ 24.2 million. Weidende Pferde III (1910) In Sotheby’s London in 2008.
Francis Bacon’s large, untitled triptych, produced between 1986 and 1987, calls Christie’s London Modern and Contemporary Art Evening Sale c0 head, Catherine Arnold, for a final price of £ 39.4 million. Passed to one bidder for £ 39.4 million). $ 47.6 million). The job, which was sold in an irreparable bid, was slightly below the low estimate of £ 35m ($ 47m). The sign-sized work, first exhibited in Moscow in 1988, refers to three different figures. Woodrow Wilson after signing the Treaty of Versailles in 1919. Bacon’s then partner, Jon Edwards. And Russian political dissident Leon Trotsky, who was assassinated in 1940.
Another big hit in London is Lucian Freud’s Girl with closed eyes (1986–87), a portrait of the painter Muse, Janie Longman, held by a British collector since 1987. A canvas featuring a partially naked Longman that looks asleep struck at a price of £ 13 million ($ 17.3) (1 million). Results fell between £ 10m and £ 15m ($ 13.4m to $ 20m) estimates, with a final price of £ 15.2m ($ 20.2m).
Elsewhere on the sale, Picasso’s five works were sold by the Bergrun family of mega-collectors. These works have attracted bids in Shanghai, London and New York.Picasso’s print etching of two dining figures in the group Poor meal (1904) Sold at a maximum price of £ 6 million ($ 8 million) with a premium. The result was four times the £ 1.5 million ($ 2 million) estimate.
Bids from Asia have pushed up the hammer prices of high-demand contemporary artists. Christie’s Shanghai and Hong Kong specialists and phone buyers competed for a still life of 2017 pink tulips by the Nicholas Party. The competition for lots has accelerated the pace of bidding, which had slowed in the middle of the sale. The job eventually went to the buyer over the phone with Christie’s China Tambo regional director, with a final price of £ 1.8 million ($ 2.4 million), more than four times the lowest estimate. A small canvas of 2015 by Romanian contemporary painter Victor Man. A portrait of a hazy woman is drawn and titled. Raven and DThere was a bid frenzy before it was finally sold for £ 214,200 ($ 285,000). The result was more than 10 times the pre-sale quote of £ 20,000 ($ 26,000). It went to Shanghai bidders who beat the other eight who called from New York, Italy and London. As a result, it set a new artist record, surpassing Mann’s previous milestone price of $ 54,000, paid for an untitled 2005 painting sold at Philips in 2014.
Jean-Michel Basquiat’s 1982 painting at the new headquarters of the house in Shanghai Il Deuce, The top-selling figure with a skeletal figure on the orange ground was 94 million CYN ($ 14.9 million), meeting that low estimate. However, it was the up-and-coming people who were in the limelight.2017 painting by Irish painter Jenny Vefigis Debutante ball It was sold for RMB 4 million ($ 639,000) against an estimated RMB 800,000 ($ 127,000).Emmanuel Taku 2015 Canvas Torn, A double portrait of two men in pink suits sold for 1.6 million yuan ($ 253,000) with a premium. The result was eight times the low estimate of RMB 200,000 ($ 32,000). The results of both Figgis and Taku set a new record for the artist.
The last part of the night was closed by a modernist who is highly regarded in the European market. Portrait of Marie-Thérèse Walter in Pablo Picasso’s Cubism, La Fene tre ouverte It was put up for sale (1929) after being held in a private collection for half a century. The estimate was $ 14 million, but it was £ 16 million ($ 21.3 million). 1937 Salvador Dali pen and ink paintings of three people Femme à la tête serose, buste de femme et vieillard nu A buyer in the room was beaten for £ 240,000 ($ 320,000), doubling the low estimate of £ 100,000 and selling at a final price of £ 302,400 ($ 403,000).
Since the beginning of the pandemic, efforts to further expand the scope of sales at the Western Hub to Asia have been successful, as evidenced by Christie’s today. The activity of Asian bidders can be comparable to that of buyers based in the United States and Europe. The dynamics of change were felt during the manwork bids won by Asian buyers. Just before defeating the hammer, Pilkannen spoke to an expert over the phone with buyers in New York, London and Italy, saying, “It was as close as you were going.”