Six artists break records at Christie’s
GAMG
Defying predictions, Christie’s 20th-century evening sale demonstrated a robust market for American abstraction and European masterpieces, with significant sales of Richard Diebenkorn, Joan Mitchell, Pablo Picasso, and René Magritte. After its sporadic 21stcentury sale earlier this week, Christie’s brought in $640.8 million in its 20th-century evening auction—its highest result for a non-single owner sale since November 2017.
Untitled (Yellow, Orange, Yellow, Light Orange) (1955)
Art Market’s New Equilibrium
GAMG Newsletter
The Spring 2023 auctions saw mixed results with less competitive bidding and sale totals at Christie’s, Sotheby’s and Phillips, down 18% year-over-year. We are now seeing collectors more focused on quality and curation, and less on speculation and trendiness, regardless of category. Demand for rare, A+ works within the Old Master, Impressionist, Modern and Post-War categories is formidable. While the overall art market was down yearover-year, watches and jewelry became the third largest auction category, growing by 21.4% just this season.
Emily Fisher Landau’s Prized Picasso
Vol.Two
Sotheby’s sold the most significant artwork by Picasso since 2010 for $140 Million. A favourite of Emily Fisher Landau from her personal collection this artwork is said to have more of an impact than any other of this ‘other woman’ works. The $140 Million hammer price is the second highest for Pablo Picasso. Marina Adams 12x9_101, 2016
Photo by Tristan Fewings/Getty Images for Sotheby's
Reparations at the Carlos In August, The Chronicle of Higher Education led an investigation that found hundreds of items in Emory University's Michael C. Carlos Museum to known antiquity traffickers. Following this investigation, the museum has ceded ownership of five pieces, repatriating some of them to Italy. These works include an ancient plate, a plate fragment, and three pieces of pottery.