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An American in London

July 6, 2010 by Marion Maneker

Colin Gleadell keeps score on the Contemporary art sales in London like no other observer. He revealed in his Telegraph column that three of the works sold at Christie’s that had been owned by Charles Saatchi were bought by one American collector:

Chris Ofili’s glittering Orgena, propped up on balls of elephant dung, had been shown in his Turner Prize- winning exhibition in 1998, and doubled his previous record, selling to an American collector for £1.9 million. Whoever said the Tate had overpaid when it bought Ofili’s The Upper Room installation of 13 paintings for £700,000? The same collector paid a record £241,250 for Jake and Dinos Chapman’s sculpture of Stephen Hawking, Ubermensch, which had been in the Sensation exhibition, as well as £1.4 million for another Sensation exhibit, Glenn Brown’s Dalí-Christ, doubling the minimum estimate for the picture.

Art Sales: Fortunes Smile on the Best of British (Telegraph)

What Makes Contemporary Art Jump?

February 17, 2010 by Marion Maneker

Colin Gleadell does some explaining about the highly successful London sales of Contemporary art, especially why the Lenz works sold so well, and provides a scorecard on market darlings, Doig and Ofili:

The Lenz sale also included works by more established artists of the era such as Lucio Fontana (shimmering works on copper) and Yves Klein (female body outlines made with a blowtorch). Selling for more than £3 million to a collection in Switzerland, these prices were anticipated. What the Lenz sale demonstrated was that the market loves a prestigious private collection, and is ready to set new price levels for previously under-valued post-war classics that are now safely in the history books.
Peter Doig’s huge ski painting, Saint Anton, did not attract much competition, selling for £2.8 million. But, for the owner who bought it in 1996 for £12,000, that was some result.Continue Reading

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