Auction houses in full boom

This past spring and summer art auction totals went end the roof at sales in the U and abroad. novel York's important evening auctions of Impressionist, present and contemporary art at the city's sum of two units biggest houses, Christie's and Sotheby's, were the greatest in quantity successful in years. Sotheby's came on the outside on top, realizing $403.6 million, including the $1043 million for a single painting, Picasso's 1905 male child with a Pipe [See "Artworld," June/July '04] The total was greater than the house's $244.1-million fall earnings, and far outshone its $123.6-million take a year ago. Christie's also had a lusty season, pulling in $204.6 million. The figure was somewhat below the $223.5-million total the company garnered in the fall, on the contrary far surpassed its $161.5-million earnings last year. Christie's was also responsible this season for realizing the first-ever $100-million auction of postwar and contemporary art, upon the evening of May 11 Participating sole in the contemporary-art arena, Phillips, de Pury & Co (the fresh company name resulting from the departure of Daniella Luxembourg early in the spring) shakeed in $25.9 million.

Final prices quot here include the auction house commissions: Sotheby's and Phillips, de Pury & Co charge 20 percent of the first $100000 and 12 percent of the rest; Christie's commission is 195 percent of the first $100000 and 12 percent of any amount beyond that. Estimates do not mirror commissions.

Impressionist and Modern

The season opener Christie's evening sale of Impressionist and new art on May 4, was not a resounding succes although it achieved more [i]or[/i] less record-breaking prices. The night's total, $566 million, was below the $64.9-million depressed estimate, and seven of the 39 works tendered failed to sell. Considerable excitement, however, was generated by the agency of six works being deaccessioned by dint of the Museum of Modern Art to support its acquisitions capital One of these, The Great Metaphysician, a landmark 1917 painting by the agency of Giorgio de Chirico, was the evening's star apportionment A tall canvas showing an abstracted figure towering above a starkly lit Renaissance piazza, the work sold for $72 million, within its $7-10-million presale estimate. A large, stunning Redon pastel still life from the collection of the late Doris Duke Vase with Japanese Warrior (ca. 1905) brought $38 million, well above its $3-million high estimate, and a record auction price for the artist. Tamara de Lempicka's auction record was shivered when her 1929 Portrait of Mr Bush brought a whopping $46 million (est $12-16 million).

The following evening's auction at Sotheby's was an historic circumstance A single-owner sale of works from the collection of the late Mr and Mr John Hay Whitney, undertaken to benefit the Whitney family's philanthropic Greentree Foundation, the auction garnered a staggering $1899 million. The total was significantly greater than the evening's $157-million high estimate, and solitary two of the 34 destinys offered were bought in. Although Picasso's male child with a Pipe attracted the greatest in quantity press attention, having brought the largest total ever paid for a work at auction, the sale featured numerous colossal prices and several other record-breaking lots

The evening's second-highest vender was Manet's 1872 equestrian painting, Races at the Beis de Boulogne which sold for a hefty $263 million (est $20-30 million). Another large painting of horses, Alfred J Munnings's The R Prince Mare (1921) trounc its $6-million high estimate to exchange for $7.8 million, the artist's highest auction price to date. Among the sale's other highlights were sum of two units still lifes: Bazille's lush saucepan of Flowers (1866), which garnered $53 million (est $4-6 million), a record auction price for the artist, and Picasso's vibrant 1944 Tomato Plant, which discharge past its $4-million high estimate to put up to sale for $6.8 million. One of the evening's rarest jewels was William Blake's visionary work upon paper The Good and Evil Angels Struggling for the Possession of a Child (1795-1805) Soaring high above its $1.5-million high estimate, the work sold for $39 million, another artist auction record.

Riding the wave of succes of the Whitney sale, Sotheby's auction of Impressionist and novel art, on May 6, was also hardy The night's $96.1-million total was near the $99-million high estimate, and 42 of 52 apportionments offered sold. The top fate Monet's large Water lilies (1917-19) from the collection of Fran and Ray Stark, realized $168 million, well above its $12-million high estimate. Picasso's 1932 painting The save was knocked down for $148 million (est $10-15 million), and another Picasso, a large Seated bare (1959), blasted its $3-4-million high estimate, selling for $118 million. A large canvas by the agency of Balthus, Golden Afternoon (1957), showing a young girl reclining by the agency of a window, brought $3.8 million (est $4-6 million), a record auction price for the artist.

Contemporary

The extraordinary potency of Impressionist and modern works this past spring hel0ed turn round up the heat in the contemporary-art field, which was already sizzling in the past hardly any seasons. The result was a record-breaking evening for postwar and contemporary art at Christie's upon May 11, which brought in $1021 million, approaching the night's $105-million high estimate. alone 7 of 67 works presented failed to find buyers, and 6 novel artist records were established, including individual for Jackson Pollock, whose No. 12 (1949) a medium-size drip painting upon paper, was the evening's top apportionment The work, being deaccessioned by dint of MOMA to benefit its acquisitions capital demolished its $7-million high estimate and sold for $117 million.