Thursday, January 21, 2010

London Sales Stacked in Sotheby’s Favor

Alberto Giacometti's "L'Homme Qui March I" at Sotheby's New York

Alberto Giacometti's "L'Homme Qui March I" at Sotheby's New York

Sotheby’s held a mini-press preview yesterday for highlights from their upcoming February London Impressionist, Modern and contemporary sales.

The sprinkling of strong material is an indicator that there is renewed confidence in the art market.

While press attendance yesterday wasn’t robust, dealers like Karsten Greve and William Acquavella were there, inspecting the goods.

Paul Cezanne's "Pichet et Fruits Sur Une Table" at Sotheby's New York

Paul Cezanne's "Pichet et Fruits Sur Une Table" at Sotheby's New York

Sotheby’s has scored the better property this time around. Estimate wise, Sotheby’s Feb. 3 and 4 Impressionist and modern sales are projected to tally up to $190.6m, while Christie’s is banking on a $130.7m high estimate.

Sotheby’s landed a classic 1893-94 Cezanne still-life, estimated $16-$24m.

The 1960 six-foot tall Giacometti comes from the Dresdner Bank collection and is estimated $19.3m-$28.9m.

Along with the walking man, Gustav Klimt’s 1913 Church in Cassone – Landscape with Cypress, estimated to fetch $19.3-$28.9m, is the other standout lot. The seller didn’t permit the painting to travel to New York so it is not included in the preview.

Lenz Collection selections at Sotheby's New York

Lenz Collection selections at Sotheby's New York

Sotheby’s fared well with contemporary art as well, winning a collection of 49 works from the Lenz collection, including names like Klein, Fontana  and Manzoni. Estimated to tally around $19m, the group will likely outstrip predictions.

Lucian Freud's black eye self portrait hangs at Sotheby's New York

Lucian Freud's black eye self portrait hangs at Sotheby's New York

The morning’s biggest surprise was the highly touted 1978 Lucian Freud black-eye self portrait, estimated to sell for up to $5.6m. The painting has wonderful detail and pathos, but I just couldn’t get beyond the dinky size.



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Posted by Lindsay Pollock
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