Archive for the 'Market Talk' Category
Friday, March 5th, 2010
Results in for Phillips de Pury Contemporary Evening Sale, NY
Lot 19. Steven Parrino – cab Noggin, 1988. Acrylic on canvas, 72″ x 72″ Sold: $458,500
Numbers are in for Phillips de Pury’s Contemporary Art Evening Sale. Held last night (3/4), amidst the buzz of Armory week, results were lukewarm. More than a third of the 34 total lots went unsold, with total sales reaching $2,192,850 (with all buyer’s fees). Here’s the rundown:
Phillips de Pury Contemporary Art Evening Sale, Thurs., March 4
All results include buyer’s premiums: 25% on the first $50,000, 20% on the portion of the price from $50,000 to $1,000,000, and 12% on any portion of the price which exceeds $1,000,000.
Total Sale: $2,192,850
Lots Offered: 34, Sold: 22 (64.7%) Unsold/Withdrawn: 12 (35.3%)
Lots Exceeding High Estimate: 4 (11.76%), Within Estimate: 18 (52.9%)
Results for 5 Highest Estimated Lots: Above Low Estimate: 3, Above High Estimate: 1, Unsold: 1
Kelley Walker – Black Star Press, 2005. Silkscreened chocolate on digital print on canvas laid on board, 36″ x 28″ each. Sold: $254,500
Highest Grossing Lots (with buyer’s premium)
1. Lot 11: $458,500 – Steven Parrino ($400,000-$600,000)
2. Lot 5: $254,500 – Kelley Walker (Estimate: $150,000-$200,000)
3. Lot 19: $206,500 – Tom Wesselmann (Estimate: $200,000-$300,000)
4. Lot 7: $176,500 – Doug Aitken (Estimate: $150,000-$200,000)
5. Lot 4: $146,500 – George Condo (Estimate: $80,000-$100,000)
Doug Aitken – i am in you, 2000. Video installation of five projections of three dvds. Sold: $176,500
View Complete Sale Results here
Phillips will hold its next NY sale tomorrow, March 6. With a focus on emerging artists and editions, NOW: Art of the 21st Century offers collectors opportunities at much more modest entry points.
Friday, February 26th, 2010
Rubell Collection to Expand to D.C.
The recently sold Randall School building was purchased from the by the Rubells in partnership with the Telesis real estate firm from the Corcoran School and Museum. The joint venture will see the site developed into a new Rubell museum, a hotel, and private residencies. (Image via)
Famed Miami based collectors Don and Mira Rubell have just announced plans to open up a new museum in Wasington D.C. to showcase their ever expanding collection of contemporary art. The location will serve as a satellite to their Miami museum, and was purchased for $6.5 million from Corcoran College and Gallery of Art in partnership with real estate investment firm, Telesis. Part of the building will also be developed into a hotel and private residences.
This isn’t the Rubell’s first foray into the D.C. area. In 2002, the couple bought the Capitol Skyline Hotel. The seven story building was designed by their friend, architect Morris Lapidus, known for the Fontainebleau Hotel and other Miami Beach properties. Around the same time, they began focusing on D.C. artists. “The reason we even bothered to find a business [in D.C.] is that the art is amazing,” noted Mera Rubell in a December interview with Art in America. “A hotel is a natural place to create a kind of home. I want artists there—it’s exciting for my existence here whenever I’m here.”
(Image: Jenny Yang via Art in America)
The Corcoran is slated to host an exhibition organized by and culled from the Rubell’s collection. 30 Americans focuses on African American artists in the Rubell’s personal collection and was first on view at their private Miami museum in December of 2008. Last week, Tyler Green’s Modern Art Notes raised concern over the arrangement. Clarifying that works in the exhibit are owned by the Rubell family and not by their foundation, he notes:
“The last line of the Washington Post story on the deal is a classic case of burying the lede: “Officials said the exhibition is not related to the sale.” Really? When an art-museum-and-school is preparing to exhibit a family’s private collection at the same time it is cutting a real estate deal with the owners of that collection (and curator(s) of the show), the arrangement deserves significantly more journalistic examination than a toss-off at the end of a story.”
Spokespersons for the Corcoran affirm the exhibit and property sale are not related. Yet, if the recent hoopla over the New Museum’s upcoming exhibit of museum trustee Dakis Joannou’s personal collection is waranted, perhaps the Rubell’s dealings with the Corcoran are also worth further examination.
Thursday, February 18th, 2010
Details of Controversial Koons-Curated Joannou Exhibit Emerge
Jeff Koons’ One Ball Total Equilibrium Tank (1985) was the first major art acquisition by collector Dakis Joannou, and the only piece of the artist’s work to be shown in the collector’s forthcoming New Museum survey, Skin Fruit: Selections from the Dakis Joannou Collection (Image: the Dakis Joannou Collection, Athens)
The New Museum of New York has just released the details of an already debated exhibition of works from the treasure chest of billionaire collector Dakis Joannou. Though parts of the collection have previously been on view at Joannou’s own DESTE Foundation in Anthens, as well as in Paris and Vienna, the upcoming New York exhibit has skeptics voicing concerns of nepotism. Critics say the show is an obvious conflict of interest, arguing that Joannou, who is one of the museum’s trustees, could easily see the notoriety and value of his collection catapult.
Titled Skin Fruit, the show, which runs March 3 – June 6, will include 100+ works by 50 international artists, selected from the Joannou Collection by guest curator, Jeff Koons (whose work will also appear in the exhibit). Koons’ very first solo showing with a museum was held at the New Museum in 1980, when his Hoover vacuum cleaner installation was displayed in the windows of their former 5th Ave. location. The artist has also been heavily supported by Joannou, who owns 40 of Koons works, along with his 2008 yacht commission.
For more thorough investigative journalism regarding the debate over the exhibit, check out the always enlightening Culturegrrl here
The 50 selected artists are as follows: Read the rest of this entry »
Monday, February 15th, 2010
Phillips de Pury London Contemporary Art Sale Results
Selling for $993,112 (before premium), Donald Judd’s Untitled (87-29 Studer), 1987 was the highest selling lot at Phillips de Pury’s Contemporary Art Day and Evening Sales in London this past weekend (Image © Phillips de Pury)
With this past weekend’s sales at Phillips de Pury, London, the last of the big three winter contemporary art auctions has winded to a close. Both day and evening sales failing to reach their low end estimates, with 37 (23%) out of 163 lots offered remaining unsold/withdrawn. The total sale across both auctions raised $10,096,428 (before buyer’s premiums), $738,427 (6.8%) below the combined low end estimate of $10,834,855.
Read on for our full analysis – Click Lot Numbers for Images and Details Read the rest of this entry »
Monday, February 15th, 2010
Christie’s London Post-War and Contemporary Art Auctions
A Christie's employee inspects Yves Klein's Relief éponge (RE 47 II). Selling for $8,329,329 (before buyer's premium), the gold coated sponge relief was the highest grossing lot a the auction house's Post-War and Contemporary Auctions late last week (Image © AP Photo/Sang Tan, via Boston Globe).
Overall, Christie’s fared well during their latest round of Post-War and Contemporary Art Auctions. With a combined sale of $69,346,950, both evening and day auctions sold within their projected estimates. 158 (63%) of the 249 lots offered sold within or above their estimated range. 49 lots (19.7%) sold below low estimates, and 42 (16.9%) were unsold/withdrawn. While these results fare better than last year’s combined result of $14,486,820 – $12,980,727 (47%) below the low estimate of $27,467,547, the 2009 sales consisted of only 123 total lots.
Read on for our full analysis – Click Lot Numbers for Images and Details Read the rest of this entry »
Thursday, February 11th, 2010
Sotheby’s Evening Sale Results
Selling for 3,500,000, this 1983 oil by Willem De Kooning was the highest grossing lot at Sotheby's Feb 10. London Contemporary Art Evening Sale
With Sotheby’s February 10 Evening Sale winding to a close in London, the first results are in for this winter’s round of contemporary art auctions. Here’s the rundown:
Top 5 Grossing Lots (winning bids before buyer’s premium):
1. Willem De Kooning Lot 71: Untitled XIV, 1983 – £3,500,000
2. Yves Klein Lot 22: F 88, 1961 – £2,900,000
3. Lucio Fontana Lot 38: Concetto Spaziale, New York 26, 1962 – £2,700,000
4. Peter Doig Lot 51: Saint Anton (Flat Light), 1995-6 – £2,500,000
5. Piero Manzoni Lot 58: Anchrome, 1958 – £2,500,000
Highest Grossing Artists (totals before buyer’s premium):
1. Lucio Fontana – £10,140,000 (7 Lots)
2. Yves Klein - £5,000,000 (3 Lots)
3. Lucian Freud – £4.070,000 (4 Lots)
4. Willem De Kooning – £3,500,000 (1 Lot)
5. Peter Doig – £3,350,000 (2 Lots)
Check One World Art for additional analysis.
Tuesday, February 9th, 2010
Keep the Fire Burning: SFMOCA to House Fisher Collection for Next Century
Gerhard Richter, Two Candles, 1982. (Image © Doris and Donald Fisher Collection/Gerhard Richter, courtesy SFMOMA via Chez Namastenancy)
This past September SFMOMA announced it had reached an initial agreement to house the collection of GAP founders, Doris and Donald Fisher (Mr. Fisher past away days after the announcement). While early reports speculated a 25 year arangement, exact terms were not revealed until late last week.
Eclipsing initial estimates, SFMOMA will become the official home of the Fisher collection for the next 100 years. The museum also announced that an additional $250 million in endowment funds have been raised (largely a result of donations from the Fisher family, trustees and museum chairman, Charles Schwab), and that a new wing would be built to house the 1,100+ piece collection which currently resides in GAP corporate headquarters.
Donald Fisher at Gap headquarters (Image: Mike Kane/The San Francisco Chronicle)
The century long partnership will kick off June 25, when the museum opens Calder to Warhol: Introducing the Fisher Collection. The exhibit, part of SFMOMA’s ongoing 75th anniversary celebration, is slated to feature some 160 pieces from the Fisher’s astounding contemporary art collection, including works by Ellsworth Kelly, Gerhard Richter, Roy Lichtenstein, Richard Serra, Dan Flavin, Philip Guston, Lee Krasner, Joan Mitchell, Frank Stella, Cy Twombly, Willem de Kooning, Richard Diebenkorn, and Brice Marden to name a few.
David Hockney – Interior With Sun and Dog. (Image © David Hockney/Doris And Donald Fisher Collection, via SFGate)
Brice Marden – The Sisters, 1991-93. (Image © Brice Marden/Artists Rights Society/Doris & Donald Fisher Collection, via MuseumViews)
More at the Wall Street Journal, SF Gate and LA Times
Tuesday, February 9th, 2010
Recap :: Art Basel Miami 09
Van de Weghe Fine Art (All Images © Jeff Newman/The Art Collectors)
Once again Art Basel descended on Miami beach, delivering a massive spectacle of contemporary art. Though largely predictable, the fair didn’t disappoint in hosting a whose-who list of blue-chip galleries, showcasing works ranging from the most influential icons to the hottest stars of the moment. Some heavyweight standouts included Van de Weghe Fine Art (Andy Warhol, Willem De Kooning, Keith Haring, Roy Lichtenstein, Basquiat), Skarstedt Fine Art (Richard Prince, George Condo, Keith Haring, Barbara Kruger, John Baldessari), Paul Kasmin (Kenny Scharf, Mark Ryden, Robert Indiana, Erik Parker, Walton Ford), Regen Projects (Lari Pittman, Raymond Pettibon, Lawrence Weiner), and Gagosian (Jeff Koons, Warhol, Richard Prince).
Finally, in what we now know to be their last hurrah, Deitch Projects was at the top of their game, doing what they do best – fusing the likes of Haring, Clemente and Schnabel together with some of the most respected younger talents, including Kehinde Wiley, Shepard Fairey, Swoon, Ryan McGinness, Rosson Crow, Dzine and Kristin Baker. The booth’s best buy went to the lucky collector who reportedly snatched up an early Barry McGee installation of 99 painted bottles for the unbelievably low price of $100,000, (about $250 – 350,000 less than we’d assume).
Read on for 100+ images from the event. Read the rest of this entry »
Tuesday, February 9th, 2010
Recap :: PULSE Miami
Angelo Musco – Aranea Project, digital C print on metalic photo paper, 192 x 96 inches (detail), Carrie Secrist Gallery (All Images © Jeff Newman/TheArtCollectors)
PULSE Miami gets our pick as the strongest of the satellite fairs during Basel week. Standouts in the fair’s IMPULSE section (a juried selection of galleries invited to present solo exhibits of single artists) included art collective/gallery OK Mountain, who took home this year’s Pulse Prize for their corner store installation, Brian Dettmer’s carved books, which ponder the nature of recorded information and history (Packer Schopf Gallery), and Cody Hudson’s display with Andrew Rafacz Gallery. In the main halls, Catharine Clark Gallery was a standout with the haunting, towering paper ink washes of Josephine Taylor and Jonathan Solo’s gender bending collaged graphite drawings. Our number one photography pick goes to Angelo Musco (Carrie Secrist Gallery), whose digital manipulations of thousands of naked swimming bodies, interwoven like DNA help create a large scale, metaphysical biological architecture. Other worthy photo mentions are the documentary work of Deanna Templeton (Kopeikin Gallery and the computer generated works of Sangbin Im (Dean Project).
Click for pics of these and many more… Read the rest of this entry »
Sunday, October 18th, 2009
New Whitney Museum Confirmed
The High Line at night (Image © Jeff Newman/TheArtCollectors)
The New York Times confirms that after three years of negotiation, the Whitney Museum has closed a deal with the New York City Economic Development Corporation to build a second museum near the Ganesvoort St. entrance to the new High Line park, located on a former elevated railway line in the Chelsea area of Manhattan. The museum recently singed a contract to buy the city owned site for $18 million, about one-half its actual value.