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Spring 2008 /
N.Y. Post-War & Contemporary Art Auction Re-Cap
By Brian
Appel
Christie’s
MARK ROTHKO
No. 15, 1952
oil on canvas
91 3/8 by 80 inches
CHRISTIE'S, N.Y., "Post-War & Contemporary Art
Evening Sale", #1997
May 13, 2008
lot #23
est: $40,000,000-$45,000,000
price realized: $50,441,000
Illustration courtesy: CHRISTIE'S IMAGES, 2008
“No. 15”, a 7 ½ by
6 ½ foot Mark Rothko from 1952 took the top lot
on Tuesday evening, May 13th at the Christie’s
spring evening sale. Christopher Burge, the
house’s erudite chief auctioneer started the
bidding of the blood-red against yolk-yellow Ab-Ex
masterwork at $26 million and quickly brought it
up by one million increments until it reached
its $45 million zenith ($50.4 million with
buyer’s premium) in less than three minutes.
It was the second highest Rothko ever sold at
auction. The Sotheby’s brokered “White Center
(Yellow, Pink and Lavender on Rose)” oil on
canvas from last spring with the impeccable
David and Peggy Rockefeller provenance is still
number one. It went for an astounding $72.8
million.
Roger Evans, the consignor of “No. 15”, bought
the painting nine years ago through Sotheby’s
for $11 million, a record at the time.
The San Francisco collector has had success with
Christie’s in the past as well. In the fall of
2006, the collector sold a 20 by 16 inch “Orange
Marilyn” through the house for $16.3 million. He
bought it five years earlier from Christie’s for
$3.7 million.
Evans was also the consignor of two other
American Ab-Ex masterworks that broke world
auction records for their artists. Sam Francis’s
“Black” of 1955, a prime example of his
important early series known as the “Black”
paintings surpassed the artist’s previous record
landing at $5.2 million. “Cool Blast” a
signature work from 1960 by the under-rated
Adolph Gottlieb put to rest his previous $1.4
million record landing in at $6.5 million.
LUCIEN FREUD
Benefits Supervisor Sleeping, 1995
oil on canvas
59 5/8 by 86 1/4 inches
CHRISTIE'S, N.Y., "Post-War & Contemporary Art
Evening Session", #1997
May 13, 2008
lot #37
est.: $25,000,000-$35,000,000
realized: $33,641,000
Illustration courtesy CHRISTIE'S IMAGES, 2008
*WORLD AUCTION RECORD FOR THE ARTIST
*WORLD AUCTION RECORD FOR A LIVING ARTIST
“Benefits Supervisor Sleeping”, (1995), a fleshy
portrait of a 280-pound nude woman sleeping on a
sofa by British artist Lucien Freud, shattered
the record for the world’s most expensive
painting by a living artist. “Big Sue”, as the
oil on canvas painting is affectionately
referred, sold to an anonymous bidder on the
phone for a whopping $33.6 million. Freud’s
previous record of $19.4 million — a 1992
portrait entitled “Ib and Her Husband” — was
struck at Christie’s, New York, just last fall.
The 5 foot by 7 ¼ foot, life-size painting, is a
hyper-perfect example of Freud’s realism. It
illustrates his extraordinary “… ability to
capture the startling actuality of life in all
its awkwardness.” The physical presence of
“things” no doubt helped the work land in the
number two spot in the house’s top ten and makes
a fine foil to Rothko’s entry into the
immateriality of the abstract sublime.
Freud’s lushly expressive brushwork trumped the
previous world auction record work for a living
artist — Jeff Koons’ stainless steel “Hanging
Heart (Magenta/Gold)” sold through Sotheby’s via
Larry Gagosian to a billionaire Russian
collector back in November of 2007.
Koons sold another monumental sculpture last
fall through Christie’s — a giant (6 ½ foot
tall) engagement ring (“Diamond-Blue)” that was
purchased by jeweler/collector Laurence Graff
for $11.8 million.
JEFF KOONS
New Hoover Convertibles, New Shelton Wet/Drys
5-Gallon, Double Decker, 1981-1986
two Hoover convertibles, two Shelton Wet/Drys,
acrylic and florescent lighting
99 by 41 by 28 inches
CHRISTIE'S, "Post-War & Contemporary Art Evening
Sale", #1997
May 13, 2008
lot #16
est.: $10,000,000 plus
realized: $11,801,000
Illustration courtesy: CHRISTIE'S IMAGES, 2008
This time out, Christie’s had his “New Hoover
Convertibles, New Shelton Wet/Drys 5-Gallon,
Double Decker”, (1981-1986) consisting of two
brand new vertical standing Hoover Convertible
cleaners and two, also pristine, Shelton Wet/Dry
drum vacuum cleaners presented and preserved in
a monolithic Plexiglas box illuminated from
below by tubes of fluorescent lighting. Acquired
by Michael and B.Z. Schwartz at the
International With Monument Gallery in
Manhattan’s East Village the year it was first
shown, it created a flurry of heated interest
ending with a determined (and rich) telephone
bidder who got to take it home for $11.8
million.
Christie’s has been the house most able to bring
Andy Warhol’s important works to market, and
this year’s “Double Marlon” from 1966 hit the
mark.
ANDY WARHOL
Double Marlon, 1966
silkscreen ink on unprimed canvas
84 by 95 3/4 inches
CHRISTIE'S, "Post-War & Contemporary Art Evening
Sale", #1997
May 13, 2008
lot #12
est.: $30,000,000-$35,000,000
realized: $32,521,000
Illustration courtesy CHRISTIE'S IMAGES, 2008
Estimated in the $30 million plus range, the
silkscreen ink and unprimed canvas worked
double-duty for fans of both the raw machismo of
Brando’s iconic biker “Johnny-Boy” — an
appropriation from the 1953 Stanley Kramer film,
“The Wild One” — and the sublime formal beauty
of the large swath of unprimed canvas left in
reserve on the left. Here Warhol ‘lifts’ another
image from popular culture raising it into the
rarefied canon of high art and accompanies it
with the sensual texture of the unprimed canvas
whose raw tactility and overall ‘authorless’
color form tips a hat to Clement Greenberg’s
advocacy of Post-Painterly Abstraction. It
brought $32.5 million.
The winning paddle, #1729, was also successful
with a 1986 Warhol diptych, “The Last Supper”
for $8.8 million — lot #8’s meditation on the
role of religion in contemporary art and life.
The Warhol buying spree continued with
“Campbell’s Soup (Pepper Pot)” of 1962, one of
the first examples of the use of the medium of
the silk screen through which the artist was to
forever transform the landscape of the late 20th
Century.
A 20 by 16 inch casein and graphite on linen
“early version” of the Pepper Pot soup can that
was featured in the storied, 32 soup cans at the
infamous Ferus Gallery show in Los Angeles —
identical save for the absence of metallic paint
— went for $7.1 million to an anonymous
telephone bidder.
Purchased originally by collector George S.
Rosenthal just weeks after the Ferus exhibition,
it was gifted by descent to his son, Henry, a
film producer and punk rocker. The painting had
been in storage for some 30-odd years in a skid
row warehouse in San Francisco.
“It was difficult to sell”, said Rosenthal, 53.
“But as the painting became absurdly valuable,
it became more nerve-wracking to keep it.”
ANDY WARHOL
Self-Portrait, 1986
synthetic polymer and silkscreen inks on canvas
22 by 22 inches
Christie's "Post-War & Contemporary Art Evening
Sale", May, 13, 2008
lot #4
est.: $2,500,000-$3,500,000
price realized: $3,513,000
Illustration courtesy: CHRISTIE'S IMAGES, 2008
A Jackson Pollock parody/homage (take your pick)
“Oxidation (Piss) Painting”, pulled down $1.9
million, a black on yellow, 6 by 13 foot
synthetic polymer, metallic paint and silkscreen
ink on canvas “Shadow Painting” brought $6.2
million, a 22 by 22 inch, Peter Brant consigned,
purple-hued “Self-Portrait (Fright Wig)” was
fought over for $3.5 million, “Four Jackies”,
(1964), a multifaceted depiction of the First
Lady as a response to the John F. Kennedy
assassination on Nov. 22nd of 1963 in white and
blue brought $4.3 million, and a $4.4 million
“Flowers” diptych from 1964 were served up to
collectors only too happy to pay top dollar for
some of the Pop master’s magic.
In was a big night for Warhol. The artist was
responsible for $68.7 million of Christie’s
$331.4 million evening haul, making the Pop
prince easily the number one performer at the
house.
Francis Bacon has been the crème de la crème
with ultra-high net worth individuals looking to
invest in works that have a global cache. His
paintings have soared in art-market value in the
last two seasons.
FRANCIS BACON
Three Studies For Self-Portrait, 1976
oil on canvas, in three parts
each: 14 by 12 inches; overall: 14 by 39 3/4
inches
CHRISTIE'S, N.Y., "Post-War & Contemporary Art
Evening Sale", #1997
May 13, 2008
lot #10
est.: $25,000,000-$35,000,000
realized: $28,041,000
Illustration courtesy: CHRISTIE'S IMAGES, 2008
His cinematic, slide-like progression of images
in “Three Studies For Self-Portrait”, (1976) was
acquired for just over $28 million in a crush of
paddle pointing. The oil on canvas in three
parts — each 14 by 12 inches — had been acquired
for $5.1 million by the Seattle collectors
Richard and Elizabeth Hedreen at Sotheby’s, New
York three years ago.
“Study of Portrait of John Edwards”, a 14 1/8 by
12 1/8 inch, 1989 Bacon rendering of the
artist’s closest companion, brought $4.5
million. The psychological intensity and inner
life of the subject caught in the act of turning
his head against a deep black background helped
bring Bacon’s total for the night to $32.5
million — the same amount paid for Warhol’s
painting starring Brando.
Gerhard Richter, Clyfford Still, Willem de
Kooning and Roy Lichtenstein — all established
names/global brands —rounded out the top ten for
the evening.
Eight world auction records were set including a
white-hot Richard Prince “nurse” painting.
RICHARD PRINCE
Man-Crazy Nurse #2, 2002
ink-jet print and acrylic on canvas
78 by 58 inches
CHRISTIE'S, N.Y., "Post-War & Contemporary Art
Evening Session", #1997
May 13, 2008
lot #13
est.: $6,000,000-$8,000,000
realized: $7,433,000
Illustration courtesy CHRISTIE'S IMAGES, 2008
*WORLD AUCTION RECORD FOR THE ARTIST
Originally purchased for approximately $100,000
by television producer Douglas S. Cramer at the
work’s debut at the Barbara Gladstone Gallery in
2002, “Man-Crazy Nurse #2”, a 78 by 58 inch ink-jet
print and acrylic on canvas brought a cool $7.4
million.
To say these works have “struck a chord” with
the collecting cognoscenti is this season’s
biggest understatement. His nurse paintings
(estimated to be over 100) simultaneously
deconstruct and pay homage on an epic scale to
the original illustrators of pulp fiction nurse
books from the 1960s-1970s, who worked on the
fringe of the art world.
Prince was also represented by a “check
painting”, ($1.5 million), a “joke painting”,
($1.2 million), and one of his now classic
“Marlboro cowboys”, ($802,600). He was the most
represented artist in the sale after Andy
Warhol.
Surprisingly, given the present state of the
U.S. economy, Christie’s reported that 70
percent of the evening’s buyers were American,
26 percent European buyers (including a strong
Russian presence) and 4 percent were Asian. Only
three of the auction’s tightly curated
assemblage of 57 lots failed to sell.
Christie’s morning and afternoon sales brought
in an additional $82.6 million with 276 lots
sold at an average lot price of $300,000. 69
lots were bought in.
DAVID PARK
Louise, 1959
oil on canvas
48 by 56 inches
CHRISTIE'S, N.Y., "Post-War and Contemporary Art
Morning Session", #1998
lot #120
est.: $900,000-$1,200,000
realized: $2,729,000
Illustration courtesy CHRISTIE'S IMAGES, 2008
David Park’s “Louise” was the day sales biggest
seller at $2.7 million. A powerful figurative
nude with a mask-like face, the oil on canvas
came with a $900,000-$1.2 million pre-sale
estimate.
ANDY WARHOL
Crosses, 1981-1982
synthetic polymer and silkscreen inks on canvas
90 by 70 inches
CHRISTIE'S, N.Y., "Post-War and Contemporary Art
Morning Session", #1998
lot #127
est.: $2,500,000-$3,000,000
realized: $2,001,000
Illustration courtesy CHRISTIE'S IMAGES, 2008
DAMIEN HIRST
N-(9-Acridinyl) Maleimide, 1992
gloss household paint on canvas
68 by 60 inches
CHRISTIE'S, N.Y., "Post-War & Contemporary Art
Afternoon Session, #1999
May 14, 2008
lot #342
est.: $1,000,000-$1,500,000
realized: $1,217,000
Illustration courtesy CHRISTIE'S IMAGES, 2008
Joseph Albers, Norman Bluhm, Louise Bourgeois,
Sam Francis, Helen Frankethaler, Conrad
Marca-Relli, Joan Mitchell, Milton Resnick and
Ed Ruscha in the morning session, and Wang
Guangy, Sherrie Levine, Richard Prince, Cindy
Sherman, Sturtevant, Andy Warhol and Fheng-Jie
in the afternoon session had lots that brought
in at least double their high estimates.
Sotheby’s
FRANCIS BACON
Triptych, 1976
oil and pastel on canvas in three parts
each: 78 by 58 inches
SOTHEBY'S, N.Y., "Contemporary Art Evening
Session", N08441
lot #33
est.: $70,000,000
realized: $86,281,000
Illustration courtesy SOTHEBY'S IMAGES, 2008
*WORLD RECORD FOR THE ARTIST AT AUCTION
*WORLD RECORD FOR ANY WORK OF CONTEMPORARY ART AT AUCTION
The world’s top
price for a contemporary work of art edged up to
just shy of $90 million on the following evening
— Francis Bacon’s monumental oil and pastel on
canvas “Triptych, 1976” brought an astronomical
$86.3 million in a stellar evening at Sotheby’s
where a 15 by 19 inch Warhol “Skull” painting
brought $1.6 million and an editioned
black-and-white Jeff Wall photograph (whose
previous world auction record was $351,150)
brought $993,000. 73 out of 83 lots found
buyers.
JEFF WALL
The Forest,
2001
Gelatin silver print
94 1/8 by 119 1/4 inches
from an edition of two plus one artist's proof
lot #80, SOTHEBY'S, "Contemporary Art Evening
Auction", N08441
May 14, 2008
est.: $600,000-$800,000
realized:
$993,000
*World Auction Record for the Artist
illustration courtesy: SOTHEBY'S IMAGES 2008
Wearing a grey, nipped-at-the-waist, double
breasted Savile Road suit with dark tie and
white handkerchief, Tobias Meyer, the house’s
ebullient auctioneer and world-wide head of
contemporary art took three telephone bidders on
a ride that ultimately concluded with an
antidote to fears of a faltering art market —
especially at the top.
At the post-auction press call, Mr. Meyer crowed
that it was Sotheby’s “healthiest sale” in the
house’s 245 year history. In fact, its $362
million payday was the highest total for any
auction save for the mega-huge Christie’s
evening auction in May of last year where
Warhol’s $71.7 million “Green Car Crash” carried
the house to its highest take-home with $385
million.
The depiction of a headless tormented figure
being devoured by vultures in the 6 1/2 foot by
5 foot central panel of the triptych is arguably
the artist’s own angst. It is said to be derived
“… from magazine photographs of pelicans diving,
Eadweard Muybridge’s photographs of animals in
motion, and the blur of early sports
photography.” Almost as if they are other
identities of the artist that exist parallel to
the eviscerated figure, two heads to the left
and right of the center panel loom large,
implicated by their proximity to such violence.
This was the first time the three-panel work was
introduced to the market since its purchase
through the Marlborough Gallery in London in
1977.
RICHARD PRINCE
Untitled (Cowboy),
1994
Ektacolor photograph
61 by 41 inches
ed.: '1/2'
lot #10, SOTHEBY'S, "Contemporary Art Evening Auction",
N08441
May 14, 2008
est.: $800,000-$1,200,000
realized: $1,385,000
illustration courtesy: SOTHEBY'S IMAGES 2008
Roman Abramovich, the billionaire Russian
investor, soccer club owner and yachtsman has
been reported to be the lucky new owner.
Mr. Abramovich, who recently resigned as
governor of Chukotka — an impoverished, icy
expanse close to Alaska in Russia’s far east —
is also credited with purchasing the world’s
most expensive painting for a living artist at
Christie’s. He was the collector who paid $33.6
million for Lucian Freud’s “Benefits Supervisor
Sleeping” the night before.
Abramovich, who purchased two out of three of
the most expensive paintings in New York this
season, is a glaring example of a slow shifting
of collectors from America (who five years ago
accounted for an estimated 60%-70% of the art
auction market) to centers of rapidly emerging
economies like Moscow, Dubai and Shanghai.
Sotheby’s itself estimates that 15% of sales of
Impressionist and Modern works were purchased by
Russians (up from 9% the year before), and
although percentages are opaque as yet for
contemporary art sales, it is safe to say that
it is shifting gradually to a truly
international arena including Russia and the
former Soviet Republics (CIS), the Middle East,
India and China.
Besides Abramovich (estimated fortune $22
billion), Victor Vekselberg, another Russian
oligarch and Vistor Pinchuk, a Ukrainian
billionaire who lives in Kiev are said to be big
investors in contemporary work at the auctions
in New York and increasingly, in London where
they own several luxury homes.
ARSHILE GORKY
Untitled, circa 1943
graphite and wax crayon on paper
20 1/2 by 27 3/4 inches
SOTHEBY'S, N.Y., "Contemporary Art Morning
Auction"
May 15, 2008
lot #128
est.: $400,000-$600,000
realized: $2,449,000
Illustration courtesy SOTHEBY'S IMAGES, 2008
Sotheby’s was responsible for 17 other artist
records on the evening of May 14th including Tom
Wesselman’s “Great American Nude No. 48”, ($10.7
million), Georg Baselitz’s “B.J.M.C.-Bonjour
Monsieur Courbet”, ($4.6 million), Piero
Manzoni’s “Achrome”, ($10.1 million), Hans
Hofmann’s “Gloria in Excelsis”, ($4.3 million),
Brice Marden’s “Glyphs”, ($3.1 million), Robert
Smithson’s “Alogon”, ($4.3 million), Subodh
Gupta’s “Saat Samunder Paar V11”, ($825,000) and
others. 47 lots out of the 73 lots that found
buyers achieved seven figures; eight more
entered the eight-figure club.
TAKASHI MURAKAMI
My Lonesome Cowboy, 1998
oil, acrylic, fiberglass and iron
100 by 46 by 36 inches
from an edition of 3 plus 2 artist's proofs
SOTHEBY'S "Contemporary Art Evening Sale",
N08441
May 14, 2008,
lot #9
est.: $3,000,000-$4,000,000
realized: $15,161,000
Illustration courtesy SOTHEBY'S IMAGES, 2008
(c)1998 Takashi
Murakami/Kaikai Kiki Co., Ltd. All rights
reserved
Takashi Murakami’s “My Lonesome Cowboy”, an
eight foot tall, cartoon-like nude sculpture of
an anime man standing frontally posed like a
super hero who is “… welding himself in place of
a weapon ejaculating his own milk lasso”
realized just over $15 million.
The sculpture — a representation of the melding
of fine art with popular culture — was executed
in 1998 from an edition of three plus 2 APs. The
life-size work was expected to bring between $3
million and $4 million. Marianne Boesky, who for
years had represented the artist, saw Mr.
Murakami defect to Larry Gagosian just two years
before. His previous world auction record was
$2.7 million.
ROBERT RAUSCHENBERG
Overdrive, 1963
oil and silkscreen ink on canvas
84 by 60 inches
SOTHEBY'S "Contemporary Art Evening Sale",
N08441
May 14, 2008
lot #27
est.: $10,000,000-$15,000,000
realized: $14,601,000
Illustration courtesy SOTHEBY'S IMAGES, 2008
Robert Rauschenberg (who passed at 82 just days
before the start of the post-war season), along
with Andy Warhol (who would have been 80 this
year) and Roy Lichtenstein (who died in 1997 at
74), are widely seen as shifting the artistic
focus away from the mythology of the painter
baring his soul, to canvases that utilize the
vernacular of the everyday.
Rauschenberg’s early silkscreen paintings, of
which “Overdrive” is one of his most storied,
are “hybrid” works that embrace the swirl of
expressionist color effects with the imagery of
commonplace found objects. His lifting of images
from glossy picture magazines like “Life”,
“Newsweek” and “National Geographic” telegraphed
the ‘stealing’ of photographs by “appropriation
artists” like Richard Prince decades later.
The artist’s oil and silkscreen ink on canvas
from 1963 did not disappoint. The vibrant
yellow, red and blue of “Overdrive” balance the
quadrants of the tableau of birds, stop signs,
compasses and clocks and an inverted Statue of
Liberty — all within the strong structural use
of black and white. The painting, with the
stellar provenance of Leo Castelli in New York
and Ileana Sonnabend in Paris, brought a giant
$14.6 million, surpassing his previous world
auction record by just under $4 million.
YVES KLEIN
MG9, circa 1962
gold leaf on panel
57 1/2 by 44 7/8 inches
SOTHEBY'S "Contemporary Art Evening Sale",
N08441
May 14, 2008
lot #13
est.: $6,000,000-$8,000,000
realized: $23,561,000
Illustration courtesy SOTHEBY'S IMAGES, 2008
*WORLD RECORD FOR THE ARTIST AT AUCTION
Walter Lauffs, a German industrialist (who died
in 1981) and his wife Helga offered up more than
20 lots in the sale that were originally
assembled with the guidance of Paul Wember, a
director of the Kaiser Wilhelm Museum and a
curator of key exhibitions of Yves Klein’s work.
Two saturated monochrome works, (circa 1960),
one deep blue (4 ¾ foot by 3 ¾ foot) and one
pinkish-red (4 foot by 3 foot) — of dry pigment
and synthetic resin on canvas painted by Klein —
fetched huge prices. Each painting utilized an
extraordinary tactile powdery surface that
allows the viewer to “… step into the picture.”
“IKB1”, expecting to bring in $5 million to $7
million, took home a heady $17.4 million.
“MP13”, with a $2 million to $3 million
estimate, brought $4.7 million.
Klein’s “MG9”, a rare, burnished gold leaf on
panel monochrome (4 ¾ foot by 3 ¾ foot) with an
animated gesso undercoat (circa 1962) came with
a $6 million to $8 million pre-sale estimate.
Bidding was fierce for the minimalist work that
rejected both figuration and narrative. When the
hammer fell, “MG9”, from the enfant terrible of
the 60s Paris art scene had reached a staggering
$23.6 million making it the second highest work
of the evening sale and a record for the artist
at auction.
The work was purchased by Philippe Segalot from
the art advising firm of Giraud, Pissarro,
Segalot. Segalot also purchased the
record-breaking Piero Manzoni, “Achrome”, a
kaolin on folded canvas work from 1958 for $10.1
million.
Another Lauffs work that performed in stellar
fashion was Carl Andre’s 36-unit copper square
(6 x 6) floor piece ($2.6 million). It set a new
world auction record for the artist.
Andy Warhol’s “Set of Four Boxes: Brillo Box,
Campbell’s Tomato Juice Box, Del Monte Peach
Halves Box, Heinz Tomato Ketchup Box” — also
from the Lauffs collection — set a new world
auction record for a sculpture at $4.7 million.
Measuring 6 feet by 35 feet, Warhol’s
fetishistic “Detail of the Last Supper (Christ
112 Times)”, appropriated from one of
Christianity’s most famous and ubiquitous images
— Da Vinci’s 1495-1498 masterwork “Last Supper”
— was snapped up by savvy Warhol
connoisseur/dealer/collector Jose Mugrabi for
$9,561,000. Rumored to be from the vast Warhol
holdings of Mr. Peter Brant, the yellow on black
grid late painting was a relative steal at $1.5
million below its low pre-sale minimum.
EDWARD
RUSCHA
I Don't Want No Retrospective, 1979
pastel on paper
23 by 29 inches
SOTHEBY'S, "Contemporary Art Morning Auction",
N08442
May 15, 2008
lot #248
est.: $1,000,000-$1,500,000
realized: $3,961,000
Illustration courtesy SOTHEBY'S IMAGES, 2008
Rounding out the top ten at Sotheby’s were
Gerhard Richter’s “Abstract Picture” from 1990
at $15.2 million (trumping its $7 million high
estimate), Tom Wesslemann’s Pop inspired
room-like assemblage from 1963 (setting a new
world auction record for the artist at $10.7
million), and Jean-Michel Basquiat’s
neo-primitive acrylic, oilstick and paper
collage on paper portrait, “Untitled (Prophet)”
from 1981-1982 for $9.6 million.
The big disappointment from the evening sales
was a Rothko painting from 1956 that failed to
reach its $35 million estimate. “Orange, Red,
Yellow” (rumored to have been purchased by
Sotheby’s in partnership with L&M’s Robert
Mnuchin) was bought in at $33 million.
GEORGE CONDO
Wolfman, 1997
oil on canvas
60 by 48 inches
est.: $250,000-$350,000
realized: $289,000
lot #495, "Contemporary Art Afternnon Auction"
Sotheby's, N.Y., N08442, May 15, 2008
Illustration courtesy SOTHEBY'S IMAGES, 2008
The more modestly-priced day sales (typically
from $50,000 to $1 million) are traditionally a
better indicator of any slow-down caused by a
shaky economy. But the three main troublemakers
of an economy in disarray — the slumping housing
market, the credit squeeze, and rising commodity
prices — didn’t appear to have any impact at
Sotheby’s.
ANDY WARHOL
Dollar Sign, 1982
acrylic and silkscreen ink on canvas
10 by 8 inches
SOTHEBY'S, N.Y.,"Contemporary Art Morning
Auction"
May 15, 2008
lot #213
est.: $150,000-$200,000 realized:
$1,161,000
Illustration courtesy SOTHEBY'S IMAGES, 2008
Sotheby’s morning and afternoon sales brought in
an additional $108 million. 355 lots sold (97
passed) with an impressive $304,000 per lot
average.
CHRISTOPHER WOOL
Untitled (P-15), 1986
alkyd on aluminum and steel
72 by 48 inches
est.: $400,000-$600,000
realized: $735,400
lot #474, "Contemporary Art Afternoon Auction"
Sotheby's, N.Y., N08442, May 15, 2008
Illustration courtesy SOTHEBY'S IMAGES, 2008
Gerhard Richter’s “Abstract Painting (743-2)”
was the day sale’s biggest seller with a $3.7
million payday. The oil on canvas, with bold
reds seen through glimpses of deep blues and
creamy whites, came with a $1.8 million to $2.5
million pre-sale estimate. Helen Frankenthaler,
Ashile Gorky, Philip Guston, Ellesworth Kelly,
Yayoi Kusama, Ed Ruscha and Andy Warhol in the
morning session, and Mary Heilmann, Jenny Holzer,
Ling Jian, Beatriz Milhazes, Juan Munoz, Takashi
Murakami, Gabriel Orozco, Richard Prince,
Christopher Wool, Cindy Sherman and Mike Bidlo
in the afternoon session had lots that brought
in at least double their high estimates.
Phillips de Pury & Co.
ALEX KATZ
Three Women, 2007
oil on canvas
58 by 107 inches
PHILLIPS de PURY & CO., N.Y., "Part
11-Contemporary Art"
NY010308
May 16, 2008
lot #278
est.: $150,000-$200,000
realized: $265,000
Illustration courtesy PHILLIPS de PURY & CO.,
2008
The rising tide of
the contemporary art market continued unabated
at Phillips. Thursday evening’s sale at the
house was a resounding success with 55 of the 64
lots offered scooped up by dealers and
collectors who saw prices being driven up all
week.
Simon de Pury, their charismatic chairman and
chief auctioneer is seen as the presiding
executive of a boutique house that has a
reputation for anticipating shifts in
contemporary art collecting tastes.
ROBERT LONGO
On the Beach (Last Wave), 2004
charcoal on paper
60 by 76 3/4 inches
PHILLIPS de PURY & CO., N.Y., "Part
11-Contemporary Art"
NY010308
May 16, 2008
lot #221
est.: $150,000-$200,000
realized: $271,000
Illustration courtesy PHILLIPS de PURY & CO.,
2008
Phillips offered 29 lots executed since the year
2000 in their high profile evening sale as
compared to 11 at Sotheby’s and only 6 at
Christie’s. Because of this, in a very short
period of time, de Pury has developed an
enthusiastic customer base that has reacted
strongly to the results of his tireless search
for important works by emerging artists.
This time out, however, in addition to offering
work from younger artists that add a new chapter
to the encyclopedia of contemporary work like
Dana Schutz, and Banks Violet, de Pury and his
able team led by Michael McGinnis, stacked the
deck with work from more high profile,
mid-career artists with a long (and more
expensive) auction history. The recipe included
fresh pieces from Richard Prince and Damien
Hirst, along with classic works from the 1980s
and 1990s from the likes of Jean-Michel Basquiat,
Gerhard Richter, Robert Gober and Jeff Koons.
The formula worked. Sales rocketed from $33
million last spring to $59 million this May.
JEAN-MICHEL BASQUIAT
Untitled (Fallen Angel), 1981
acrylic and oilstick on canvas
66 by 78 inches
PHILLIPS de PURY & CO., N.Y., "Part
1-Contemporary Art"
NY010208
May 15, 2008
lot #121
est.: $8,000,000-$12,000,000
realized: $11,241,000
Illustration courtesy PHILLIPS de PURY & CO.,
2008
The evening’s top seller, a 5 ½ foot by 6 ½ foot
acrylic and oilstick on canvas by Jean-Michel
brought $11.2 million. The 1981 painting,
“Untitled (Fallen Angel)”, landed near the top
end of its pre-sale estimate.
Considered to be in the “first phase” of
Basquiat’s dynamic emergence into the New York
art scene, the work splices and juxtaposes the
frenetic style that the artist first developed
in the underground world of graffiti art onto a
Jean Dubuffet/Clyfford Still-like Modernist
canvas.
JEFF KOONS
Self-Portrait, 1991
marble
from an edition of three play one artist's proof
37 1/2 by 20 1/2 by 14 1/2 inches
PHILLIPS de PURY & CO., N.Y., "Part
1-Contemporary Art"
NY010208
May 15, 2008
lot #111
est.: $6,000,000-$8,000,000
realized: $7,545,000
Illustration courtesy: PHILLIPS de PURY & CO.,
2008
“Self-Portrait”, from 1991, a marble sculpture
of Jeff Koons that was purchased from Phillips
only three years ago for $3.9 million went to
Sam Orlofsky of the Gagosian Gallery (Koons’
dealer) for $7.5 million. The self-glorifying,
snow-white sculpture from his “Made in Heaven”
series is from an edition of three plus one
artist proof.
ROBERT GOBER
Untitled, 1990
beeswax, cotton, wood, leather, and human hair
this work is unique
12 1/4 by 5 1/2 by 20 1/2 inches
PHILLIPS de PURY & CO., N.Y., "Part
1-Contemporary Art"
NY010208
May 15, 2008
lot #128
est.: $1,200,000-$1,800,000
realized: $3,625,000
Illustration courtesy PHILLIPS de PURY & CO.,
2008
*WORLD AUCTION RECORD FOR THE ARTIST
New records were set for Robert Gober’s
disembodied leg in beeswax and human hair,
“Untitled” from 1990, ($3.6 million), a “Face
Painting” from Mark Grotjahn, ($1.2 million) and
“Tumbling Heads” from George Condo, ($1
million), among others.
Phillips’ day sale on Friday wasn’t as rosy.
“Part 11” barely reached its low pre-sale
minimum of $11.3 million — only 215 of 307 lots
found buyers. Gross sales were down from last
spring’s $14.9 million but average per lot
prices were up slightly from last spring at
$55,309 from $46,747.
ELIZABETH PEYTON
John Squires, 1997
oil on panel
17 by 14 inches
PHILLIPS de PURY & CO., N.Y., "Part
11-Contemporary Art"
NY010308
May 16, 2008
lot #465
est.: $200,000-$300,000
realized: $421,000
Illustration courtesy PHILLIPS de PURY & CO.,
2008
A David Hockney hand-colored pressed paper pulp
painting from his “swimming pool pictures” took
the top lot at $433,000, and Elizabeth Peyton’s
lovingly rendered oil on panel entitled “John
Squires”, named after a member of the rock group
“The Stone Roses”, came a close second at
$421,000.
Paul Rusconi, Julian Schnabel, Ivan Navarro,
Jason Rhoades, Allan McCollum, Gillian Carnegie,
Andrew Grassie and Takashi Murakami had lots
that brought in at least double their pre-sale
high estimates.
Re-Cap
The broadening base, financial depth and
seriousness of the growing number of collectors
globally — in Europe, Russia, Asia-Pacific,
India and the Middle East have outweighed any
slowdown in demand due to economic volatility in
the broader financial markets in the West.
Spring sales of contemporary art from the three
houses in New York have ballooned from $432
million to $955 million in just two years.
Blue-chip artworks including Ab-Ex, Pop,
Minimalism, the European avant garde of the 60s,
painting from the 80s, photographic art that
challenges notions of truth-telling, and the
latest from Japan, India and China are all seen
as providing both a tangible
(investment-friendly) and intangible
(experiential) asset allocation that seem immune
to any economic woes thus far.
High-brow exclusivity, access to creativity, and
the proximity to fame through artists that have
reached ‘rock-star’ status are all stoking the
credibility that comes with the acquisition of
the fastest growing, most sought-after status
symbol — Post-War and Contemporary Art.
Feeding the frenzy for the “best of the best”
are the 14 stars of this season’s eight-figure
club: Bacon, Basquiat, Freud, Klein, de Kooning,
Koons, Manzoni, Murakami, Rauschenberg, Richter,
Rothko, Still, Warhol and Wesselman.
TOP 25
1) FRANCIS BACON
Triptych, 1976, 1976
Oil and pastel on canvas in three parts
Each: 78 by 58 inches
Est.: $70,000,000
Realized: $86,281,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #33
WORLD RECORD FOR THE ARTIST AT AUCTION
WORLD RECORD FOR ANY WORK OF CONTEMPORARY ART AT
AUCTION
2) MARK ROTHKO
No. 15, 1952
Oil on canvas
91 3/8 by 80 inches
Est.: $40,000,000
Realized: $50,441,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #23
3) LUCIEN FREUD
Benefits Supervisor Sleeping, 1995
Oil on canvas
59 5/8 by 86 ¼ inches
Est.: $25,000,000-$35,000,000
Realized: $33,641,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 14, 2008
Lot #37
WORLD RECORD FOR THE ARTIST AT AUCTION
WORLD RECORD FOR A LIVING ARTIST AT AUCTION
4) ANDY WARHOL
Double Marlon, 1966
Silkscreen ink on unprimed linen
84 by 95 ¾ inches
Est.: on request
Realized: $32,521,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #12
5) FRANCIS BACON
Three Studies for Self-Portrait, 1976
Oil on canvas in three parts
Each: 14 by 12 inches; Overall: 14 by 39 ¾
inches
Est.: $25,000,000- $35,000,000
Realized: $28,041,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #10
6) YVES KLEIN
MG 9, circa 1962
Gold leaf on panel
57 ½ by 44 7/8 inches
Est.: $6,000,000-$8,000,000
Realized: $23,561,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #13
WORLD RECORD FOR THE ARTIST AT AUCTION
7) YVES KLEIN
IKB 1, 1960
Dry pigment and synthetic resin on canvas laid
down on plywood
56 ¾ by 44 7/8 inches
Est.: $5,000,000-$7,000,000
Realized: $17,401,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #14
2-WAY TIE
8) TAKASHI MURAKAMI
My Lonesome Cowboy, 1998
Oil, acrylic, fiberglass and iron
100 by 46 by 36 inches
From an edition of 3 plus 2 artist’s proofs
Est.: $3,000,000-$4,000,000
Realized: $15,161,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #9
WORLD RECORD FOR THE ARTIST AT AUCTION
8) GERHARD RICHTER
Abstraktes Bild (722-2), a.k.a.: Abstract
Painting (722-2), 1990
Oil on canvas
78 5/8 by 70 ¾ inches
Est.: $5,000,000-$7,000,000
Realized: $15,161,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #23
2-WAY TIE
9) ROBERT RAUSCHENBERG
Overdrive, 1963
Oil and silkscreen ink on canvas
84 by 60 inches
Est.: $10,000,000-$15,000,000
Realized: $14,601,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #27
WORLD RECORD FOR THE ARTIST AT AUCTION
9) GERHARDT RICHTER
Abstraktes Bild (625), a.k.a.: Abstract Painting
(625), 1987
Oil on canvas
98 3/8 by 157 ½ inches
Est.: $7,000,000-$10,000,000
Realized: $14,601,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #15
10) CLYFFORD STILL
1946 (PH-182), 1946
Oil on canvas
60 ½ by 43 ¾ inches
Est.: $8,000,000-$12,000,000
Realized: $14,041,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #28
11) WILLEM DE KOONING
Untitled IV, 1975
Oil on canvas
70 ¼ by 80 inches
Est.: $10,000,000-$15,000,000
Realized: $12,081,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #27
12) JEFF KOONS
New Hoover Convertibles, New Shelton Wet/Drys
5-Gallon, Double Decker, 1981-1986
Two Hoover convertibles, two Shelton Wet/Drys,
acrylic and fluorescent lighting
99 by 41 by 28 inches
Est.: on request
Realized: $11,801,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #16
13) JEAN-MICHEL BASQUIAT
Untitled (Fallen Angel), 1981
Acrylic and oilstick on canvas
66 by 78 inches
Est.: $8,000,000-$12,000,000
Realized: $11,241,000
PHILLIPS de PURY & CO., “Part 1–Contemporary
Art”, NY010208
May 15, 2008
Lot #121
14) TOM WESSELMANN
Great American Nude No. 48, 1963
Oil and collage on canvas, acrylic and collage
on board, enameled radiator and assemblage
(including window illuminator)
84 by 106 ¾ by 40 ½ inches
Est.: $6,000,000-$8,000,000
Realized: $10,681,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #50
WORLD RECORD FOR THE ARTIST AT AUCTION
15) PIERO MANZONI
Achrome, 1958
Kaolin on folded canvas
44 ¾ by 56 7/8 inches
Est.: $4,500,000-$6,500,000
Realized: $10,121,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #16
WORLD RECORD FOR THE ARTIST AT AUCTION
2-WAY TIE
16) JEAN-MICHEL BASQUIAT
Untitled (Prophet 1), 1981-1982
Acrylic, oilstick and paper collage on canvas
95 ¼ by 59 3/8 inches
Est.: $9,000,000-$12,000,000
Realized: $9,561,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #56
16) ANDY WARHOL
Detail of the Last Supper (Christ 112 Times)
Yellow, 1986
Acrylic and silkscreen ink on canvas
80 by 421 inches
Est.: $10,000,000-$15,000,000
Realized: $9,561,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #53
17) JEFF KOONS
Naked, 1988
Porcelain
Ed.: ‘1/3’ plus one artist’s proof
45 ½ by 27 by 27 inches
Est.: $1,500,000-$2,000,000
Realized: $9,001,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #5
18) ROY LICHTENSTEIN
Reflections On The Prom, 1990
Oil and magna on canvas
74 by 90 inches
Est.: $3,000,000-$5,000,000
Realized: $8,777,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #40
19) JEFF KOONS
Self-Portrait, 1991
Marble
From an edition of 3 plus 1 artist’s proof
37 ½ by 20 ½ by 14 ½ inches
Est.: $6,000,000-$8,000,000
Realized: $7,545,000
PHILLIPS de PURY & CO., “Part 1-Contemporary
Art”, NY010208
May 15, 2008
Lot #111
20) RICHARD PRINCE
Man-Crazy Nurse #2, 2002
Ink-jet print and acrylic on canvas
78 by 58 inches
Est.: $6,000,000-$8,000,000
Realized: $7,433,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #13
WORLD RECORD FOR THE ARTIST AT AUCTION
21) ANDY WARHOL
Campbell’s Soup Can (Pepper Pot), 1962
Casein and graphite on linen
20 by 16 inches
Est., $6,000,000-$8,000,000
Realized: $7,097,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #33
22) ROY LICHTENSTEIN
Sailboats, 1975
Oil and magna on canvas
60 by 74 inches
Est., $6,000,000-$8,000,000
Realized: $7,041,000
SOTHEBY’S, “Contemporary Art Evening Auction”,
N08441
May 14, 2008
Lot #48
23) TOM WESSELMAN
Smoker #9, 1973
Oil and liquitex gesso on linen
83 by 89 ½ inches
Est., $4,000,000-$6,000,000
Realized: $6,761,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #11
WORLD RECORD FOR THE ARTIST AT AUCTION
24) ADOLPH GOTTLIEB
Cool Blast, 1960
Oil on canvas
90 by 70 inches
Est., $2,000,000-$3,000,000
Realized: $6,537,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #22
WORLD RECORD FOR THE ARTIST AT AUCTION
25) ANDY WARHOL
Shadow Painting. 1978
Synthetic polymer, metallic paint and silkscreen
ink on canvas
76 ¾ by 161 3/8 inches
Est.: $5,500,000-$6,500,000
Realized: $6,201,000
CHRISTIE’S, “Post-War & Contemporary Art Evening
Sale”, #1997
May 13, 2008
Lot #32
HAMMER PRICE and the BUYER’S PREMIUM: For lots
that are sold, the last price for a lot as
announced by the auctioneer is the hammer price.
Christie’s, Sotheby’s and Phillips de Pury & Co.
charge a premium to the buyer on the final bid
price of each lot sold. The buyer’s premium is
25% of the hammer price up to and including
$20,000, 20% of any amount in excess of $20,000
up to and including $500,000, and 12% of any
amount in excess of $500,000. Prices in the “Top
25” list above include the buyer premium. In
addition, the buyer shall pay all applicable
sales, use, excise and other taxes, whether
federal, state or local. Estimates do not
reflect the buyer’s premium or VAT.
Last 8 Seasons in
N.Y.
Christie’s, Sotheby’s and Phillips de Pury & Co.
[totals reflect both evening & day sales of the
Post-War & Contemporary sales]
2008 SPRING / $954,712,125
CHRISTIE’S $414,011,950 SOTHEBY’S $469,807,775
PHILLIPS de PURY & CO. $70,892,400
2007 FALL / $895,673,750
CHRISTIE’S $418,078,650 SOTHEBY’S $418,317,000
PHILLIPS de PURY & CO. $59,278,100
2007 SPRING / $870,609,080
CHRISTIE’S $477,751,600 SOTHEBY’S $344,572,000
PHILLIPS de PURY & CO. $48,285,480
2006 FALL / $536,613,180
CHRISTIE’S $315,994,000 SOTHEBY’S $179,424,000
PHILLIPS de PURY & CO. $41,195,180
2006 SPRING / $432,080,560
CHRISTIE’S $205,784,440 SOTHEBY’S $185,100,200
PHILLIPS de PURY & CO. $41,195,920
2005 FALL / $396,037,040
CHRISTIE’S $212,091,200 SOTHEBY’S $141,597,000
PHILLIPS de PURY & CO. $42,348,840
2005 SPRING / $300,187,160
CHRISTIE’S $170,955,400 SOTHEBY’S $94,024,400
PHILLIPS de PURY & CO. $35,207,360
2004 FALL / $278,199,100
CHRISTIE’S $124,728,240 SOTHEBY’S $121,063,100
PHILLIPS de
PURY & CO. $32,407,760
*includes evening and day sales
Top 10 Artists at
the 2008 N.Y. Spring Sales [incl. buyer’s
premium]
1) Francis Bacon: $118,843,000 / 3
lots offered / 3 lots sold /average per lot:
$39,614,333
2) Andy Warhol: $111,648,050 / 79
lots offered / 56 lots sold / average per lot:
$1,993,715
3) Mark Rothko: $50,515,000 / 4
lots offered / 3 lots sold / average per lot:
$16,838,333
4) Yves Klein: $46,832,000 / 9
lots offered / 8 lots sold / average per lot:
$5,854,000
5) Gerhard Richter: $44,628,750 /
9 lots offered / 9 lots sold / average per lot:
$4,958,750
6) Jeff Koons: $41,544,000 / 8
lots offered / 8 lots sold / average per lot:
$5,193,000
7) Lucian Freud: $33,641,000 / 1
lot offered / 1 lot sold / average per lot:
$33,641,000
8) Jean-Michel Basquiat:
$30,885,200 / 14 lots offered / 12 lots sold /
average per lot: $2,573,767
9) Richard Prince: $23,312,200 /
23 lots offered / 21 lots sold / average per
lot: $1,110,105
10) Robert Raushenberg:
$19,605,000 / 8 lots offered / 7 lots sold /
average per lot: $2,800,714
Breakdown of Spring
‘08
Post-War & Contemporary Art By Decade It was
Executed
[Evening sales only]
2000s: Christie’s 6 / Sotheby’s 11 / Phillips 29
1990s: Christie’s 8 / Sotheby’s 7 / Phillips 22
1980s: Christie’s 16 / Sotheby’s 15 / Phillips
11
1970s: Christie’s 6 / Sotheby’s 9 / Phillips 0
1960s: Christie’s 12 / Sotheby’s 37 / Phillips 2
1950s: Christie’s 4 / Sotheby’s 3 / Phillips 0
1940s: Christie’s 5 / Sotheby’s 1 / Phillips 0
57 lots
offered
83 lots
offered
64 lots
offered
|
