{"id":40593,"date":"2020-10-07T14:05:10","date_gmt":"2020-10-07T18:05:10","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=40593"},"modified":"2022-05-30T09:59:00","modified_gmt":"2022-05-30T13:59:00","slug":"christies-20th-century-evening-sale","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2020\/10\/christies-20th-century-evening-sale\/","title":{"rendered":"Christie\u2019s 20th Century Evening Sale"},"content":{"rendered":"
\"scribbles<\/a>

Twombly<\/p><\/div>\n

On October 7th<\/sup>, Christie\u2019s presented their sale of 20th<\/sup> century works of art.\u00a0 The title is a little misleading since the earliest lot was some 67 million years old, and there were 5 works from the 19th<\/sup> century.\u00a0 As you will soon see, while the sale generated a good deal of money, it was not a real blockbuster.<\/p>\n

\"painting<\/a>

Rothko<\/p><\/div>\n

The top lot of the evening was Cy Twombly\u2019s Untitled (Bolsena)<\/em> that hammered at $35M ($38.685M w\/p – est. $35-50M).\u00a0 We know that this painting was guaranteed by a third party and it is obvious that they were the ultimate buyer since the final price with the buyer\u2019s premium is less than it should be \u00a0\u2026 $38.685M vs. $40.7M \u2026 that is a nice savings!\u00a0 Taking second at Mark Rothko\u2019s Untitled<\/em> that hammered at $28M ($31.275M w\/p \u2013 est. $30-$50M – this was another guaranteed lot that was acquired by the guarantor). The Rothko last appears on the auction block in 1998 where is made $1.2M, and then was acquired around 2002 by Ron Perelman (the seller). And the surprise of the evening, and one of the few lots with serious action, was Stan.\u00a0 Stan is a T-Rex skeleton that was offered at the end of the sale with an estimate of $6-8M, and when the battle ended, the buyer had to cough up $27.5M ($31.848M w\/p).<\/p>\n

\"dinosaur\"<\/a>

T-Rex<\/p><\/div>\n

Rounding out the top 5 were a still life by C\u00e9zanne that brought $26M ($28.65M w\/p \u2013 estimate on request \u2013 whisper number was $25M), and Picasso\u2019s Femme dans un fauteuil<\/em> at $25.5M ($29.56M w\/p \u2013 est. $20-30M).<\/p>\n

There were a couple of other lots that seemed to garner a bit of action, Damien Hirst\u2019s bronze titled Mickey<\/em> at $1.9 hammer ($2.31M w\/p – est. $700K-1M), and a small still life by Renoir that made $2.3M ($2.79M w\/p \u2013 est. $800-1.2M).\u00a0 Then there were a number of works that found no takers \u2013 Warhol\u2019s Statue of Liberty<\/em> (est. $1.2-1.8M), an early van Gogh still life (est. $1.5-2M),\u00a0Koons\u2019s Dolphin<\/em> (est. $2-3M), and Miro\u2019s Le Cirque<\/em> (est. $3-5M). And let\u2019s not forget that 4 works were pulled from the sale, including Brice Marden\u2019s The Golden Pelvic<\/em> (est. $12-18M), and Picasso\u2019s T\u00eate de femme sur fond jaune<\/em> (est. $8-12M).<\/p>\n

By the time the sale began, of the 59 lots originally in the sale, 4 were withdrawn; this left 55 to be sold.\u00a0 Of those, 46 found buyers and the other 9 were returned to their owners (83.6% sell-through rate), with a total take of about $291M hammer ($340.8M w\/p).\u00a0 The presale estimate was $277-$401M, so they just made it \u2026 and that is all because of T-Rex!<\/p>\n

Looking a bit closer, we find that of the 46 sold lots, 13 were below, 28 within, and 4 above their presale estimate ranges.\u00a0 This gave them an accuracy rate of 60.8% \u2026 which is pretty strong. \u00a0In addition, 14 of the works were guaranteed \u2026 and a few of those guarantees came on the day of the sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

On October 7th, Christie\u2019s presented their sale of 20th century works of art.\u00a0 The title is a little misleading since the earliest lot was some 67 million years old, and there were 5 works from the 19th century.\u00a0 As you … More…<\/a><\/p>\n","protected":false},"author":21,"featured_media":40595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[207,20,429,509,88,120],"class_list":["post-40593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-auction-news","tag-auction-results","tag-contemporary-art","tag-dinosaur","tag-french-impressionist","tag-modern-art"],"yoast_head":"\nChristie\u2019s 20th Century Evening Sale - Rehs Galleries<\/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\/2020\/10\/christies-20th-century-evening-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Christie\u2019s 20th Century Evening Sale\" \/>\n<meta property=\"og:description\" content=\"On October 7th, Christie\u2019s presented their sale of 20th century works of art.\u00a0 The title is a little misleading since the earliest lot was some 67 million years old, and there were 5 works from the 19th century.\u00a0 As you … More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2020\/10\/christies-20th-century-evening-sale\/\" \/>\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=\"2020-10-07T18:05:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-30T13:59:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2020\/10\/t-rex.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1800\" \/>\n\t<meta property=\"og:image:height\" content=\"1350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Howard L. 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