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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

Cover Lot Commentary: Peter Doig

February 9, 2010 by Katherine Jentleson

[private_subscriber][private_bundle]Sotheby’s has chosen Saint Anton (Flat Light) (est. £2,000,000–£3,000,000), a seasonally appropriate winter scene by Peter Doig for its cover even though the painting is not the most highly estimated lot of the sale (Lucian Freud’s self-portrait is).

In fact all three houses have chosen not to put their top lots on the cover; perhaps they are hoping to make sleeper hits out of less expensive lots. Not that Doig needs the boost. His market caught fi re after 2005, peaking in 2007 when White Canoe sold for $11,283,464 at Sotheby’s February sale (Fig. 17).

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