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The Economist v. Ségalot, pt. 2

November 20, 2010 by Marion Maneker

The Economist seems to be suggesting that there was a quid pro quo during the Phillips de Pury Carte Blanche sale. The magazine asks why so much money was paid for Warhol’s, The Men in Her Life:

Irving Blum, the Los Angeles dealer who gave Warhol his first solo show, was shocked by the disparity in results. The prices, he affirmed, were “incredibly peculiar.”

And suggests that the consignor, José Mugrabi, was behaving out of character when he bought two of the top lots in the sale:

José Mugrabi and his family have a reputation for being bargain-hunting dealers with large inventories of Andy Warhol, Jean-Michel Basquiat and Damien Hirst. In this sale, they acquired the lots that featured on both the front and back covers of the catalogue, in each case taking the unusual step of paying more than the high estimate. They bought Mr Cattelan’s “Stephanie” for $2.4m and Takashi Murakami’s “Miss ko2” for $6.8m.

A Passion that Knows No Bounds (Economist)

The Economist v. Ségalot, pt. 1

November 20, 2010 by Marion Maneker

After taking a swipe at Charles Saatchi during the Frieze auctions, the The Economist returns to tackle Philippe Ségalot and the Phillips de Pury Carte Blanche sale assembled by the private dealer.

For “Carte Blanche”, French-born Mr Ségalot was, in his own words, the “chef d’orchestre”. The works consigned for sale went through his office rather than Phillips’s art department. So did the paperwork for the pieces that he purchased on behalf of his clients. In return, he received a percentage of the buyer’s premium. […] On the night, some astonishing prices were paid for unlikely works. […] But the art world suspects that some of the buyers may be less than delighted in the long run.Continue Reading

Phillips de Pury = $137 million

November 8, 2010 by Marion Maneker

Carte Blanche Overview – the sale totaled $117,055,000, selling 90.90% by lot
Contemporary Art Part I Overview – the sale totaled $19,973,000, selling  84.61% by lot

Lot 15 Andy Warhol, Men in Her Life $63,362,500
Lot 10 Takashi Murakami, Miss ko2, $6,802,500
Lot 8 Jean-Michel Basquiat, Self-Portrait, $4,562,500
Lot 4 Felix Gonzalez-Torres, “Untitled” (Portrait of Marcel Brient), $4,562,500
Lot 115 Ed Ruscha, Sex at Noon Taxes, $4,338,500
Lot 32 Thomas Schütte, Grosse Geist No. 16, $4,114,500
Lot 116 Roy Lichtenstein, Two Figures, Indian, $3,890,500
Lot 20 Christopher Wool, Untitled (W 24), $3,666,500
Lot 23 Robert Ryman, NO TITLE REQUIRED, $3,442,500
Lot 6 Maurizio Cattelan, Charlie, $2,994,500

46% of the sale total was in a single painting; the top ten lots comprised nearly 72% of the sale total. Surely, the Warhol, Men in Her Life was priced in the shadow of Green Car Crash which made $71m at the height of the art boom in the Spring of 2007.

Is the bubble back in Contemporary art?

Artist Records:

Lot 4 Felix Gonzalez-Torres, “Untitled” (Portrait of Marcel Brient), $4,562,500
Lot 14 Cindy Sherman, Untitled #153, $2,770,500
Lot 25 Daniel Buren, Peinture email sur toile de cotton, $542,500
Lot 26 Lee Lorano, No Title, $602,500
Lot 27 Robert Morris, Untitled, $1,258,500
Lot 29 Rudolf Stingel, Untitled, $2,658,500
Lot 32 Thomas Schütte, Grosse Geist No. 16, $4,114,500
Lot 124 Wade Guyton, Untitled, $302,500
Lot 125 Martin Creed, Work no. 202: Half the air in a given space, $98,500

Ségalot Gets Carte Blanche

May 28, 2010 by Marion Maneker

Carol Vogel announces Phillips de Pury’s new program for guest sales launching with Philippe Ségalot:

Mr. Ségalot has agreed to start Carte Blanche, a new initiative in which Phillips will invite a collector, dealer, artist or museum curator to put together one sale. “It’s like having a guest curator at a museum,” Simon de Pury, the chairman of Phillips, explained in a telephone interview. The initiative will not be limited to New York. It may also be expanded to London too, Mr. de Pury said. Continue Reading

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