8/27/2023 0 Comments Claude tad smithWhereas there is more French material in the huge Christie’s Impressionist, Modern and Surrealist art auction tonight (27 February), Sotheby’s sale was German and Austrian art heavy, perhaps encouraged by some strong results in New York in November. The estimate would have had to be much lower for it to sell.” The third lot had a long, chequered history in the marketplace, and I was not surprised it was brought in. Etienne, a New York-based specialist in German and Austrian Expressionism, said after the sale: “I thought the first lot and the boat both did very nicely. The prudent approach paid off, as six bidders from Europe and Asia pursued the watercolour, which sold for £1.3m (£1.6m with fees). It was light damaged, however, and hence cautiously estimated at £500,000-£700,000. ![]() The first lot of the sale was also by Schiele: Auf dem Bauch liegendes Mädchen (Girl Reclining on Stomach, 1910), a beautifully composed work on paper which had been bought in the 1930s by Daisy Hellmann (nee Steiner, the big Schiele collecting family) and passed down by descent. All figures are based on hammer prices Courtesy of ArtTactic The Wong/Newman double act is fast becoming part of the entertainment at Sotheby’s and at one point, the slow deliberations of Wong’s bidder caused a frustrated Newman to exclaim “Patti, what is to be discussed?!”.ĪrtTactic's analysis of last night's Impressionist and Modern art sale at Sotheby's. But he judged it about right-the vivid painting sold at £9.2m (£10.7m with fees) to the Sotheby's vice chairman of private sales Samuel Valette’s phone bidder, underbid by Patti Wong, the chairman of Sotheby’s Asia. This subject has no auction precedent so estimating it was tricky, says the head of the evening sale Thomas Boyd-Bowman. The Fishing Boat had been in the same collection for over 50 years and was at auction for the first time. Hence, a shift to more uncontroversial subject matter-what could be more harmless than a fishing boat, albeit with a sensuous purple ripple or two around its hull. This unusual square canvas was painted just after the artist had done a stint in prison in Neulengbach, thanks to his bohemian lifestyle and use of childhood models ruffling feathers in a small country town. More interesting, although of more niche appeal, was Egon Schiele’s atypical boat painting, Triestiner Fischerboot (Trieste Fishing Boat, 1912). This inoffensive but dull painting, at auction for the first time, set a new record for a Venetian view by the artist, selling for £24m (£27.5m with fees), in the middle of a punchy £20m-£30m estimate.Įgon Schiele's Triestiner Fischerboot (Trieste Fishing Boat, 1912) Courtesy of Sotheby's Indeed, the poster lot-Monet’s view of Le Palais Ducal (1908)-was underbid by a Japanese bidder. Perhaps its approach will be chastened this year.ĭespite much talk of the concurrent slowdown of the Chinese economy, Asian buying was strong and auctioneer Helena Newman spoke after the sale of “Pan-Asian bidding” with active buying from Taiwan and Japan, alongside China. That said, the sell through rate was higher this year than last and the eight guaranteed lots (all backed by third parties) got away, if not spectacularly-Sotheby’s profit margins were squeezed in 2018 by some aggressively guaranteed lots that failed to live up to expectations. The 2017 result was an anomaly, perhaps, but still the pre-sale estimate this year was the auction’s lowest since 2009 and perhaps this is a sign of the “more subdued market” that Sotheby’s chief executive Tad Smith warned of last year.Īrttactic's breakdown of Sotheby's February Impressionist and Modern art evening auctions in 20 shows at 39% drop in total sales Courtesy of ArtTactic The Impressionist and Modern art total was just half that of the equivalent £136m sale in 2018, and a third of the record £194.7m in 2017, Sotheby’s highest ever total for a sale in London. The trim auction made £63m (£87.7m with fees) from 22 lots offered in the Impressionist and Modern section (an impressive 91% sold by lot) plus £11.4m from the 17 Surrealist lots, of which 12 sold. Sotheby’s Impressionist, Modern and Surrealist evening sale last night (26 February) lacked fireworks but was efficient, buoyed by some Asian and Russian buyers apparently unbothered by Prime Minister Theresa May’s woes. The market is driven by the dollar, they say, so any jittery currency fluctuations means now is a cheap time for some UK art shopping. Now it is positively spring like, but the impending (if just delayed) Brexit deadline has put a chill in the air, although the Christie’s and Sotheby’s sale heads remain relentlessly optimistic ahead of this fortnight’s sales in London. London was snowbound for its February Impressionist and Modern art week last year.
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