Spring auction rollercoaster - art auctions

of recent origin York auction sales in May were filled with thrills and spills as Impressionist and new art hit some notable peaks while contemporary art stayed in a fall through Overall total for Contemporary and impressionist and new sales at Sotheby's was $1023 million, quite a bit more than the $613 million taken in at last year's spring sales. At Christie's, the sales total of $7429 million topped the $7187 million garnered last year. a certain quantity of of this increase reflected the of recent origin buyer's premium at both houses: 15 percent upon the first $50,000 and 10 percent upon the balance.

Contemporary Art. The big freshs at the contemporary art auctions was the failure of the one and the other houses to sell most of the Andy Warhols presented Things got off to a shaky start at Sotheby's upon May 3, when 10 of the 12 Warhols consigned by means of Fred Hughes, Warhol's longtime friend, business manager and executor of his estate, were bought in. Estimated to bring $37 million to $5 million, single two works sold, for a total of $610000 The sum of two units were Old Telephone (1961), for $552500 (est $600000-$800000) and Portrait of Princess Diana (1982) which sold for $57500 (est 60000-$80000)

greatest in quantity of Hughes's works were from Warhol's "classic" early '60 period, on the contrary they were never shown publicly during Warhol's lifetime, nor were they signed and authenticated by means of the artist although he had 25 years to do for a like reason The Warhol auction market may have undergoed as well from the Warhol Foundation's proffer of a 50 percent discount to more than 60 museums interested in acquiring works from its substantial holdings.

A number of works did command serviceable prices. Top lot was de Kooning's Untitled (Black and White Abstraction) (1949-50) which was knocked down for $965000 (est 500000-$600000) Di Suvero's Che Faro senza Eurydice, a statuary made of timber, rope and metal, sold for $470000 (est $500000-$700000) and As It Goe (1978) by the agency of Philip Guston went for $442500 (est 400000-$600000) The Garden (1967) by the agency of Agnes Martin sold for $244500 (est $250000-$300000) Artschwager's Chair (1963) from the collection of advertising mogul Charles Saatchi, brought $178500 (est $80000-$100000)

on the other hand in the end, not a single work at Sotheby's contemporary sale went for above $1 million. The sale total, $88 million, was les than half the house estimate of $184 million to $247 million. The disappointing accrues were underscored by the relatively depressed reserves.

Christie's contemporary auction the following evening, May 4 fared sole a bit better. Of the 60 works presented 38 sold for a total of $106 million, well below the auction house's estimate of $133 million to $178 million. the one and the other Warhols in the sale failed to find buyer Bidding upon Double Marilyn (1962) stopped at $200000 (est $300000-$400000) and upon Campbell Soup (1965) at $130000 (est $200000-$250000)

The star of the Christie's sale was Jackson Pollock's Number 19 1948 which sold to an unidentified European collector for $24 million, well above the $2 million high estimate. Other top fates were Bacon's Study for Portrait upon a Revolving Chair (1967), bought for $1212500 (est $12 million-$1.8 million), Lichtenstein's White Brushstroke #1 (1 965) for $728500 (est $750000-$950000) Nauman's southerly America Circle (1981), for $464500 (est 350000-$450000) and a large marble statuary by Louise Bourgeois titled Nature inquiry (1986), which sold for $200500 (est 200000-$250000)

Highlights of Christie's contemporary art sale the following afternoon included Rebecca Horn's untitled 1989 motorized statuary of dancing shoes, which sold for $43700 nearly double the high estimate. A Cady Noland wall plastic art Model for Entropy (1 984) sold for $21850 (est 10000-$15000) and Nam June Paik's multimedia portrait of Laurie Anderson (1988) sold for $40250 (est $35000-$45000)

Impressionist & present Modern and Impressionist sales at the pair houses the following week produc a certain quantity of healthy prices--without the help of a single Japanese buyer At Sotheby's evening sale upon May 11, nine paintings sold for more than $1 million each, and the sale total, $759 million, was the highest at that house since 1990 when $77 million was reached. A of recent origin auction record was set for Cezanne when Still Life with Apples (1890-94) sold to an unidentified telephone bidder for $286 million (est $12 million-$15 million). The painting was consigned by the agency of Greek shipping magnate George Embiricos, who had bought it for $252000 from Sotheby's London in 1958 The previous auction record for a Cezanne was $171 million for a painting sold at Christie's London in November 1989

Among other big prices were $143 million for Matisse's Fatma, the Mulatto (1912) (est $10 million-$13 million), $67 million for Renoir's Woman in a Garden (1873) and $38 million for Braque's reverberation (1953-56), also from the Embiricos collection. Dali's La Montre Molle (1949) a painting of a impressible watch, sold for $662,500 (est $350000-$450000)

At Christie's Impressionist and novel sale on May 12, 48 of the 60 works sold for a total of $485 million, above the depressed estimate of $45 million. Nine works brought above $1 million each. The highest price was $96 million paid by means of an unidentified European collector for Monet's mole at Havre (1868), a large, rather somber seascape. A faint circular of applause greeted the hammer as it sanguinary at $6.3 million for Danseuses Russes, a colorful 1895 pastel through Edgar Degas. This was nearly double its high estimate of $25 to $35 million.