{"id":26561,"date":"2017-05-16T10:48:41","date_gmt":"2017-05-16T14:48:41","guid":{"rendered":"https:\/\/rehs.com\/blog\/?p=26561"},"modified":"2024-03-04T04:10:16","modified_gmt":"2024-03-04T09:10:16","slug":"last-nights-sale-of-impressionist-modern-works","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2017\/05\/last-nights-sale-of-impressionist-modern-works\/","title":{"rendered":"Last Night’s Sale of Impressionist & Modern Works"},"content":{"rendered":"

Since I am in Chicago, I was only able to watch the sale online and while\u00a0it did take a long time for some lots to sell, there appeared to be serious competition for a few\u00a0of them.\u00a0What this particular sale says about the health of the art market is up to the individual reviewing the sale (as you will see by the articles I have linked to below). \u00a0My take … it is business as usual. The great works create competition, nice works need to be estimate correctly\u00a0or they are going to have trouble, and the other stuff is not going to sell.\u00a0 The writer for The Art Newspaper asks:\u00a0Is there room for material valued at under $5m in such a market?<\/em>\u00a0 Really? \u00a0There is plenty of room if the works are priced correctly. Remember, estimates are just that …. estimates\u00a0… and many times they are not correct (in this sale about 19 of the 55 works hammered down within the estimate … or about 34.5%).<\/p>\n

In addition, it was reported that the: three lots made up 54% of the evening’s total<\/em>. \u00a0The top lots were: Brancusi ($57.4M – est $25-$35M – an auction record), Picasso ($45M – est $35-50M) and Picasso ($30.5M – est $20-30M). \u00a0The total for those works is $132.9M and the sale’s total was $289.2M (pre-sale estimate range was $207-307M). \u00a0According to my math (which is never the best) that works out to 46% … not 54%. Also, according to my calculations, the top ten lots account for $205.6M or 71.1% of the sale’s total\u00a0and the sell-through rate was 78% (55 works offered and 43 sold).<\/p>\n

More action today, tonight, tomorrow, tomorrow night, etc.<\/p>\n

Source:\u00a0Christie’s New York evening sale finds success with Brancusi and Picasso<\/a><\/em><\/p>\n

Source: After Heavy Bidding, a Brancusi Head Sells for $57.4 Million at Christie\u2019s – The New York Times<\/a><\/em><\/p>\n

Source:\u00a0Christie\u2019s Sale Gets New York\u2019s Spring Auctions Off to a Strong Start<\/a><\/em><\/p>\n

\"Brancusi<\/a>

Brancusi
“La muse endormie”<\/p><\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Since I am in Chicago, I was only able to watch the sale online and while\u00a0it did take a long time for some lots to sell, there appeared to be serious competition for a few\u00a0of them.\u00a0What this particular sale says … More…<\/a><\/p>\n","protected":false},"author":21,"featured_media":26563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[207,134,20,11,9],"class_list":["post-26561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-auction-news","tag-auction-records","tag-auction-results","tag-rehs-contemporary-news","tag-rehs-galleries-news"],"yoast_head":"\nLast Night's Sale of Impressionist & Modern Works<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2017\/05\/last-nights-sale-of-impressionist-modern-works\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Last Night's Sale of Impressionist & Modern Works\" \/>\n<meta property=\"og:description\" content=\"Since I am in Chicago, I was only able to watch the sale online and while\u00a0it did take a long time for some lots to sell, there appeared to be serious competition for a few\u00a0of them.\u00a0What this particular sale says … More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2017\/05\/last-nights-sale-of-impressionist-modern-works\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/howard.rehs\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-16T14:48:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-04T09:10:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2017\/05\/constantin-brancusi-1867-1957-la-muse-endormie-new.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"583\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Howard L. 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