Frieze New York Sales Report

Frieze NY 2015

Skarstedt Gallery

Cady Noland, Untitled (Walker), 1989 sold for $1.5mm
Richard Prince, Untitled (Cowboy), 1987 sold for $600,000
Thomas Schütte, Wicht (2), 2006 sold for $500,000

Blum & Poe
The gallery sold Carroll Dunham’s [Solar Eruption, 2000-2001] painting for $550,000.

Pace Gallery
Seven drawings by Tuttle from his ‘Aspects’ series, which he completed in Maine in the summer of 2014, sold for $35,000 each.”

Sean Kelly
Mariko Mori
Cycloid I, 2014 – 150,000 Euro ($170,521.42 USD)
Jose Dávila
Untitled, 2014 – $40,000
Hugo McCloud
from where I stand, 2015 – $30,000Hugo McCloud
12 days 204 ways, 2015 – $30,000Los Carpinteros
Derrame de Pared ORO seis, 2012 – 35,000 Euro ($39,788.33 USD)Frank Thiel
Perito Moreno #11, 2012/2013 – 18,000 Euro ($20,462.57 USD)Frank Thiel
Stadt 10/06/A (Berlin), 2001 – 15,000 Euro ($17,052.07 USD)Iran do Espírito Santo
Bowl, 2015 – $15,000

Lehmann Maupin
Kader Attia, Halam Tawaaf, 2008, is on hold for a major American museum
A sculpture by Robert Cuoghi, Senza Titolo (Untitled), 2015, sold for over $100,000
A first edition of Teresita Fernández’s Ghost Vines (Yellow Gold), 2015,  sold to a private collector for more than $500,000
Nicholas Hlobo’s Ulwamvila, 2015, sold for over $100,000
An oval photograph measuring 50 x 38.4 inches by Catherine Opie, entitled Mary, 2012, was acquired by a prominent Turkish foundation

Price Check: Frieze New York 2015 (ARTnews)

David Zwirner

a tall red sculpture by McCracken sold for $850,000.Continue Reading

Phillips Makes Steady Advance Growing Its Business

Phillips Evening sale 515

Phillips is making steady progress despite its tough position within the art market. Outgunned by its much larger rivals and battling its own former history, the auction house managed to secure enough property to post a $97m evening sale. But people like London’s Kenny Schachter are perennial Phillips skeptics. Schachter, at least, remains so, as Scott Reyburn points out:

“This week was fantastic,” said Kenny Schachter, a London dealer. “But tonight is a disappointment, and that is not unexpected.”

Still, the results were better than the $52 million that Phillips had taken at its evening sale in November.

Others seem to be warming to house as Katya Kazakina discovered:

“It’s probably the best auction Phillips has ever had,” said collector Don Rubell. “It clearly moves them to a new level. It’s not ebullient, but things are selling.”

Continue Reading

Phillips Contemporary Evening Sale = $97.2m

  1. 33 Francis Bacon Seated Woman, 1961 $28,165,000
  2. 17 Brice Marden Elements (Hydra), 1999-2000 / 2001 $9,237,000
  3. 12 Mark Tansey Hedge, 2011 $5,653,000
  4. 10 Rudolf Stingel Untitled, 2012 $4,757,000
  5. 44 Agnes Martin Untitled #7, 1984 $4,197,000
  6. 34 Pablo Picasso Buste de Mousquetaire, 1968 $2,629,000
  7. 19 Ed Ruscha Porch Crop, 2001 $2,165,000
  8. 37 Frank Stella Double Scramble, 1978 $2,165,000
  9. 43 Dan Flavin monument” for V. Tatlin, 1964 $2,165,000
  10. 55 Wayne Thiebaud Hamburger Counter, 1961 $2,165,000

 

Auction Records:

10 Rudolf Stingel Untitled, 2012 $4,757,000

18 Fred Sandback Broadway Boogie Woogie…, 1991 / 2006 $545,000

24 James Lee Byars The Figure of Death, 1986 $761,000

52 Günther Förg Ohne Titel, 1990 $581,000

Christie’s Gigaweek Strategy Pays Off for Impressionist & Modern Art

Rumbler in the Box

With Modern works dominating the Monday night sale that launched Christie’s bid to dominate the Spring selling season, the assumption was that its Impressionist and Modern Evening sale which featured the single-owner collection of former Goldman Sachs chief John C. Whitehead would end up an afterthought. Instead the sale turned into a showcase for artists like Constantin Brancusi, Chaim Soutine and Piet Mondrian.

Katya Kazakina put it all together on Bloomberg:Continue Reading

Global Buyers Now Dictate Price Even as They Follow European Taste

 Kelly Crow points to an interesting new cinundrum in the market. David Norman tells her the Sotheby’s Imp-Mod sale was dominated by a “handful” of Chinese buyers. Global collectors may set prices today but they’re clearly not dictating tastes.
Were they, we’d be seeing Asian or other non-Europen artists at the top of the price heap:

Masterpieces by the likes of Picasso typically sell well in any season. But the international art market is seeing seismic shifts in the way it behaves, according to longtime dealers and auction executives. Gone, for example, are the days when collectors in Europe and the U.S. dictated tastes and drove prices. Today’s art market is being steered by a bigger and more geographically diverse pool of collectors than the blue-chip buyers of a generation ago.

Art Market Sees New Auction Highs, New Rules

Perhaps the Most Important Chart in the Art Market

Value and Volume of Transactions in Global Art Market

More than any other chart, this one from the Financial Times based upon data available in the TEFAF report shows that since the crash art is gaining in value but not volume. Easy money policies, global inequality or a flight to quality, choose your own explanation or come up with a combination of the three.