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Teiger Collection Shoots for $100m at Sotheby’s Starting with October Sale

August 30, 2018 by Marion Maneker

Peter Doig, Buffalo Station I (1997-8), Estimate in excess of £6million

Sotheby’s announced this morning a single-owner collection from David Teiger, a management consultant who died in 2014, that it is calling The History of Now. Teiger bought both Contemporary art and American folk art. His patronage of young artists like Peter Doig, Elizabeth Peyton, Glenn Brown, and John Currin has paid off over time for his foundation which will benefit from some very strong prices for works like Peter Doig’s Buffalo Station I (1997-8) (above, estimated £6m) and Buffalo Station II (1997-8) (also estimated at £6m.) Big prices are expected for Teiger’s Grotjahns along with strong competition for his work by Chris Ofili. Here’s Sotheby’s release on the collection:

Offered across Sotheby’s sale rooms in London, New York and Hong Kong over the course of 2018 and 2019, this series of sales, estimated in excess of $100 million, will provide an unprecedented look into one of the finest Contemporary Art collections of our time. The inaugural London Evening sale, comprising 27 lots, will offer the leading innovators of Contemporary Art as well as the frontrunners and outliers who equally significantly form part of the daring cultural spirit of the last 30 years.

Alex Branczik, Sotheby’s European Head of Contemporary Art, said: “A true visionary, David Teiger collected with an avant-garde spirit, often rejecting art world consensus to forge his own path. His collection reflects the early patronage he offered to young artists such as Mark Grotjahn, John Currin, and Glenn Brown, as well as to dealers such as Tim Blum, Andrea Rosen and Gavin Brown. A time capsule of collecting in the late 1990s and early 2000s, this is one of those rare groups of works that perfectly capture the essence of the art and the spirit of collecting of its time.”

Building on the foundation of his Contemporary collection, Teiger ventured into the arena of American Folk Art in the 1990s. He quickly amassed one of the finest, museum-quality collections of Americana in the world, which will now be offered in a dedicated sale in January 2019.

Highlights from the inaugural sale will be exhibited in Hong Kong (28-31 August), Singapore (8-9 September), Taipei (15-16 September) and New York (20-24 September).

Sotheby’s Has Doig’s £6-8m Daytime Astronomy for London

June 7, 2018 by Marion Maneker

Sotheby’s announced the sale of a smaller version of a celebrated Peter Doig painting that has been a mainstay of Doig’s most significant shows. The £6-8m work was inspired by a well-known photograph of Jackson Pollock’s studio in East Hampton, New York. It has been in the same collection since 1999:Continue Reading

Those Other Doigs in London

February 27, 2018 by Marion Maneker

Peter Doig, Charley’s Space £6-8m

If you’ve been going through the Contemporary catalogues you might have come across two smaller works by Peter Doig that are also for sale as the major work, The Architect’s Home in the Ravine is up with a £14m low estimate. That work has a long market history that seems to coincide with Doig’s major price moves.

According to Colin Gleadell, these other works were snapped up at a Whitechapel charity sale in 2006:

Christie’s is also offering Doig, in this case two paintings belonging to the Canadian philanthropist Donald Sobey. These tell a slightly different story to the one above. Sobey bought them in 2006 for a combined £1.1 million and now they are estimated to bring upwards of £6.4 million.

For love or money; the ascent of Peter Doig (Telegraph)

Market Tracking Doig Painting Comes Back to Sotheby’s in London

February 14, 2018 by Marion Maneker

Peter Doig, The Architect Home in the Ravine (£14-18m)

A sharp market watcher alerted us to the fact that Peter Doig’s The Architect’s Home in the Ravine (1991) is coming back to the auction block at Sotheby’s in London next month. The painting has been sold four times before. It often reappears on the market after there has been a significant resetting of Doig’s prices.

In 2017, we saw three of Doig’s works sell for more than $20m, including the top price of nearly $29m. So it might have been inevitable that this work would test the market again:

2002 = £314,650 ($475,733)

2007 = $3,624,000

2013 = £7,657,250 ($11,899,378)

2016 = £11,282,500 ($16,304,191)

2018 = Estimate £14-18m

 

Phillips Wants to Be House of Doig with $18m Picture

October 25, 2017 by Marion Maneker

Peter Doig, Red House ($18-22m)

Auction houses can be reactive to the market but they do best when they try to lead it. Not too long ago, Christie’s was the house advancing the top of the Peter Doig market with the most regularity. Then, this Spring, Phillips got in on the action.

Yesterday, the auction house announced its plans to take another run at the artist. The estimate on Red House is $18-22m which would put the painting among the artist’s top prices. Here’s Phillips’ J.P. Engelen:

“On the heels of Phillips May Evening Sale, in which Peter Doig’s Rosedale set a world auction record for a work by a living British artist, we are delighted to offer the artist’s Red House as a star lot this season. Executed in 1995-1996, Red House is a true masterwork, created at a pivotal point in the artist’s career, directly after his Turner Prize nomination.”

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