Art Market Monitor

Global Coverage ~ Unique Analysis

Sotheby’s Has 90 Works on Paper from Spielvogels with $40-60m Estimate for November

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Barbaralee Diamonstein-Spielvogel and Ambassador Carl Spielvogel are selling their collection of 90 works on paper (above from left to right: Magritte, Rothko, Pollock, Lichtenstein, and Johns) ranging from Degas, Matisse, Braque and Miró to Pollock, Newman, Rothko, Twombly, Lichtenstein and Freud. The entire collection is estimated at between $40 to $60m and will be sold across multiple sales:

Works featured in the Contemporary Art Evening Auction include

  • an example of Mark Rothko’s mature work, created just two years prior to his tragic death in 1970, which is estimated at $5/7 million.
  • a Pollock that shows him working through a major stylistic development in 1951 (estimate $3/4 million)
  • an incredible group of seven works by Jasper Johns that includes examples of his numbers and flag (well-timed with the current RA show + recent catalogue raisonné)
  • five drawings by Lichtenstein that correspond directly with major oils

Works featured in the Impressionist & Modern Art Evening Sale:

  • a Degas scene of three dancers from 1889 through to a 1970s Picasso nude
  • 5 works by Picasso crossing his career from 1901 to 1971, led by a scene from 1935 that foreshadows the compositional arrangement that would ultimately manifest in Guernica two years later (estimate $1.5/2.5 million)
  • a Magritte gouache at $2/3 million

Phillips Has $10m Lichtenstein Double-Sided Woman

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Lichtenstein, Woman Sunlight, Moonlight (In excess of $10m)
Lichtenstein, Woman Sunlight, Moonlight (In excess of $10m)

Phillips has scored a nice out of the spotlight work without having to compete with its rivals. A Lichtenstein being sold by the foundation, the $10m work is just the sort of consignment that can generate fees and possibly surprise to the upside. Here’s Phillips release:Continue Reading

Has Roy Lichtenstein’s Masterpiece Sold?

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roy-lichtenstein-masterpiece-1962

Josh Baer is reporting in his Baerfaxt newsletter that Agnes Gund has sold her prized Roy Lichtenstein, Masterpiece from 1962. Baer quotes a price for the work at $150m which seems about right given the importance of the work and fact that it sold privately where prices can be higher for a number of reasons (including discretion.)

‘Girl in a Mirror’ Slides in Value

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Looks like Tom Dean made a great deal.

You’ll remember that Dean was the collector who bought Roy Lichtenstein’s ‘Girl in a Mirror’ from Gagosian Gallery’s Deborah McLeod during the depths of the financial crisis. McLeod is the one who sent the email coaxing Dean to make “an insulting offer.”

Eventually he did. And the sale became the basis of a lawsuit between Jan Cowles and Gagosian.

Tom Dean had bought the editioned work with some condition problems for $2m. Gagosian had picked it up for $1m from Cowles’s cash-strapped son. On Tuesday, another example of the series of 8 works sold in London for $3.7m, an 85% gain in three years time for Dean if he had sold.

That’s the good news.

The bad news is that ‘Girl in a Mirror’ is down from the 2010 sale price of $4.9m and $4m in 2007 which book-ended the financial crisis in the US. Perhaps the uncertainty surrounding Europe brought the London sale price down by more than $1m. Or maybe the

Dean’s work might not have been worth the same amount (we haven’t checked the condition reports.) And there’s no telling if another one of these works would find a ready buyer tomorrow.

 

 

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