Archive for the 'Auction' Category
Thursday, May 28th, 2009
Santa Monica Auction’s 25th Anniversary Contemporary + Modern Art Auction
The highest estimated lot at this weekend’s Santa Monica Auction is Ed Ruscha’s Hollywood Stunt People, 1998, estimated at $150,000-$180,000.
This Saturday, May 30, Santa Monica Auctions will hold its 25th anniversary modern and contemporary art auction, featuring painting, sculpture, photography, multiples and prints. The event kicks off at 1pm at the Bergamot Station Arts Center, in Santa Monica (just outside of Los Angeles), and online bidding can be done here. With a heavy focus on modestly priced prints and editions, the 353 lot auction features many of the established names one would expect to find in a modern and contemporary sale, alongside several newer faces who have emerged from the urban art world, including Andy Warhol, Roy Lichtenstein, Keith Haring, Jeff Koons, Damien Hirst, Robert Rauschenberg, Man Ray, Takashi Murakami, Mark Ryden, Marcel Dzama, FAILE, Banksy, Shepard Fairey and Antony Micallef.
Mark Ryden – Untitled. Pencil on paper. Estimate: $20,000-$24,000.
Read on for the rest of our selection of lots. Read the rest of this entry »
Wednesday, May 20th, 2009
Perspective :: Five Years of NY Contemporary Sales
We thought this graph was worth a glance.
Wednesday, May 13th, 2009
Sotheby’s Contemporary Art Evening Results
Dan Colen’s Untitled (Blow Me), 2005, was a strong performers at Sotheby’s May 2009 Contemporary Art Evening Sale, selling for $386,500, above its initial high estimate of $150,000.
Sotheby’s kicked off the latest round of Spring Contemporary Art auctions last night, with Christie’s and Phillips set to follow over the next two days. The sale in indicative of the overall shift in auction house strategy, with far fewer lots offered (48 compared to last May’s 85), many with inticingly modest estimates. The total realized (including buyer’s premiums) amounted of $47,033,500, compared to the $362,037,000 raised at last year’s May Contemporary Art Evening Sale.
Read on for our full analysis. Read the rest of this entry »
Thursday, May 7th, 2009
MOCA Benefit Auction
It should come as no surprise that now more than ever, the Los Angeles Museum of Contemporary Art is in need of financial support. This Saturday, May 8, MOCA will hold its annual Fresh Silent Auction, with works donated from a massive list of over 300 artists, including Ed Ruscha, Raymond Pettibon, Mark Ryden, Martin Kippenberger, Barbara Kruger, Christopher Wool, Neo Rauch, Robert Rauchenberg, and Andrea Zittel. The event takes place at the Geffen Contemporary in Los Angeles from 7-11pm. View the full list of contributing artists here and purchase tickets here.
As you may recall, late last year the museum announced that it was on the verge of total financial collapse, ultimately opting for a $30 million private injection from billionaire Eli Broad, along with the resignation of director, Jeremy Strick, and massive financial restructuring.
Read more from us on the MOCA’s recent financial here and here
One of our favorite lots – Ed Ruscha – Ye, 1991. Cut Out Lettering, Color Pencil on Black Paper.
Wednesday, April 22nd, 2009
Saturday @ Phillips Contemporary + Urban Art Auction Preview
Last night, Phillips de Pury presented an opening preview for this weekend’s Saturday@Phillips auction, their largest contemporary and urban art sale to date. Despite the less than ideal current market climate for this momentous occasion, it is significant to see the auction house standing behind the genre and broadening its scope of artists represented. The list is nothing short of impressive – Barry Mcgee, Os Gemeos, ESPO, KAWS, FAILE, Thomas Campbell, Ed Templeton, Jim Houser, Seen, Crash, Matt Leines, and Shepard Fairey are all here. Collectors should keep a watchful eye and be ready for some potential bargains. For example, McGee’s three lots are valued at half their primary market value, and the vast offering of Murakami prints are estimated far below what they were selling for just one year ago.
Read on for our photo recap of the evening and a shortlist of lot highlights. Read the rest of this entry »
Wednesday, April 15th, 2009
A Forca Da Rua Charity Auction
D*Face Gibson Les Paul
ABC Trust (Action for Brazil’s Children) has organized A Forca da Rua (Force of the Streets), an exhibition and charity auction to help raise funds and awareness for Brazil’s impoverished youth. According to the non-profit, an estimated 7 million children live or work on the streets of Brazil, and 60% do not complete primary education. The organization has invited 12 street artists from Brazil and the UK (including D*Face, Inkie, Titi Freak, Calma and Speto) to paint Gibson guitars, which will be exhibited from April 24 – May 12 and auctioned on April 29 at The Printspace in London.
Monday, April 13th, 2009
Urban Art Auction featuring Banksy, Choe, D*Face + more
Inkie and Paradise By Way Of Kensal Green present Urban Art Auction, a charity event in support of the Great Ormond St. Cochlear Implant Unit & CICS. The benefit takes place at The Paradise in London on April 23rd, and will feature original art from Banksy, David Choe, D*Face, and many more. All proceeds will go to the charities involved. For tickets to the event or more information contact pedro@theparadise.co.uk or visit www.theparadise.co.uk
Friday, April 3rd, 2009
Controversy Over Cohen’s Women at Sotheby’s
Edvard Munch’s Madonna is on display at Sotheby’s NY, as part of Women: An Exhibition of Paintings & Sculptures On Loan from the Steven & Alexandra Cohen Collection.
Modern Art Obsessions has posted some criticism of Sotheby’s exhibition of a selection of billionaire, Steven Cohens’ private collection. Cohen now owns almost 6% of the auction house, and while Sotheby’s has stated none of the 20 works are for sale, concerns over possible nepotism and market manipulation have emerged. Read MAO’s thoughts here and Lindsay Pollock’s report for Bloomberg here.
Tuesday, March 3rd, 2009
Plot Thickens Over Laurent Looted Art Controversy
One of the two controversial sculptures is auctioned at Christie’s in Paris, on Feb. 25th.
Image: Patrick Kovarik/AFP/Getty Images
The controversy over two Chinese relics looted during the second Opium War some 150 years ago, and sold at last week’s record shattering Yves St. Laurent auction, has taken an unexpected turn. Prior to the Feb. 25th sale, a Parisian court rejected the Association for the Protection of Chinese Art in Europe’s appeal to have the pieces returned to the Chinese government.
Now, it looks as if the winning bidder, antiques collector and Chinese auction house owner, Cai Mingchao, has no intention of making good on his $40 million purchase. It seems Mr. Cai’s actions are an intentional political manoeuvre, attempting to drum up publicity over the disputed statues and larger concern over the sale of looted Asian art. “I have done my part. I am not going to pay,” said Cai at a news conference in Beijing on Monday.
Interestingly enough, Mr. Cai advises the Lost Cultural Relics Recovery Foundation, which is overseen by China’s Ministry of Culture. Yet, a spokesperson for the government agency overtly avoided any official stance on Cai’s actions, instead choosing to speak in broader terms.
“We ask that the relics be returned to China…I urge everyone to pay attention to what is the essence of this issue. These cultural relics belong to China, they were looted by the West in time of war and illegally taken abroad,” stated Qin Gang, speaking on behalf of China’s Foreign Ministry.
Christie’s is holding the art in France and has not commented on its next move, which could include suing Mr. Cai for breach of contract and re-offering the tainted treasures at a lower price to the next highest bidder. Pierre Berge (Laurent’s lifelong partner who brought the 700+ lots to auction) on the other hand, has been quite vocal on the situation.
“I am prepared to offer this bronze head to the Chinese straight away, he said. “All they have to do is to declare they are going to apply human rights, give the Tibetans back their freedom and agree to accept the Dalai Lama on their territory. If they do that, I would be very happy to go myself and bring these two Chinese heads to put them in the Summer Palace in Beijing. It’s obviously blackmail but I accept that.”
Video coverage and extensive reporting of Cai Mingchao’s press conference, courtesy of China’s Xinhua news agency here
Read more here:
The Guardian
Bloomberg
The London Telegraph
Wall Street Journal
Wednesday, February 25th, 2009
Lackluster Results for Bonhams Urban Art Auction
As anyone with half an ear to the market would have predicted, Bonhams Feb. 24th Urban Art Auction fizzled to a close. Just over 60% of the 78 pieces offered sold, many failing to reach original estimates. A quarter of all lots were comprised of Banksy works, with 65% (13 out of 20) finding buyers. The sale further affirms what many members have been talking about over on TACforum for some time – the graffiti/street/urban art market has long been in need of correction, and mass speculation has finally run its course. Clearly collectors are approaching purchases with much more scrutiny and perhaps we are finally seeing the over-hyped junk of the past few years get what was inevitably coming its way.
Check the rest of the results here.