{"id":42025,"date":"2021-05-19T14:19:43","date_gmt":"2021-05-19T18:19:43","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=42025"},"modified":"2023-12-28T01:10:18","modified_gmt":"2023-12-28T06:10:18","slug":"saved-the-best-for-last-christies-20th-century-evening","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2021\/05\/saved-the-best-for-last-christies-20th-century-evening\/","title":{"rendered":"Saved The Best For Last – Christie’s 20th Century Evening"},"content":{"rendered":"
\"Picasso<\/a>

Picasso – Femme Assise Pres d’une Fenetre<\/p><\/div>\n

Finishing off the week of big Spring sales was Christie\u2019s 20th<\/sup> Century, which featured an impressive lineup; offerings included works by Monet, Rothko, Giacometti, Warhol, Picasso, Mondrian, and a slew of other big names. As you can see 20th<\/sup> Century blends Post-War works with Impressionist & Modern, which in previous years were split. (w.p = with the buyer’s premium)<\/p>\n

\"Monet<\/a>

Monet – Waterloo Bridge, Effet de Brouillard<\/p><\/div>\n

The top spot went to an unsigned painting by Picasso that was inherited from the artist’s estate by his granddaughter, Marina Picasso. The work has bounced around a bit, selling in 1997 for just $6.8M, and most recently again in 2013 for $44.7M. This time around, they were expecting somewhere around $55M\u2026 but this lot touched off a bidding war that lasted more than 20 minutes! When the action settled, the hammer fell at $90M ($103.4M w.p) \u2013 the first auction piece to hit 9 figures since the pre-pandemic days. Taking second was another lot with an unpublished estimate \u2013 Monet’s\u00a0<\/span>Waterloo Bridge, effet de brouillard<\/span><\/em>, which was supposedly expected to bring $35M. They were not far off as it hammered at $42M, but when you add in the premium, it bumps this one up to $48.5M. The last time this one was up for sale, it also topped the estimate, but that was back in 1999 – at that time, the work brought $9.3M on a $4-6M estimate. Rounding out the top 3 was a work by Vincent van Gogh \u2013\u00a0<\/span>Le Pont de Trinquetaille.\u00a0<\/span><\/em>Painted in 1888, this canvas has changed hands more than a dozen times and includes provenance dating back to the artist\u2026 it was first acquired by his brother Theo the year it was painted. Most unfortunately, his brother passed away just a few years later; by 1906, the work was in the hands of a private collection. Last time it was up for auction in 2004, it sold for $11.2M on a $12-18M estimate\u2026 interestingly however, it had sold just a few years before that for $15.4M on an undisclosed $20M estimate \u2013 all three times the work was sold at Christie’s New York, so I guess they’re the real winners here.<\/span><\/p>\n

\"van<\/a>

van Gogh – Le Pont de Trinquetaille<\/p><\/div>\n

Rounding out the top 5 were works by Rothko and Mondrian\u2026 both had an estimate on request. Rothko’s\u00a0<\/span>Untitled\u00a0<\/span><\/em>was said to be $40M range, whereas the Mondrian was expected to be close to $25M. Both hammered below expectations, with the Rothko hammering at $33M ($38.1M w.p) and the Mondrian hammering at $24M ($27.8M w.p). All that said, the sellers probably had very different views of the evening\u2026 the Rothko was acquired in 2013 for $39.9M (Sotheby’s NY on a $15-20M estimate), but the Mondrian was purchased for just $882K back in 1993!<\/span><\/p>\n

\"Wayne<\/a>

Wayne Thiebaud – Toweling Off<\/p><\/div>\n

There were a couple of surprising results on the evening \u2013 Wayne Thiebaud’s\u00a0<\/span>Toweling Off<\/span><\/em>\u00a0came in with a $1.2-1.8M estimate but saw spirited bidding push the price to $8.49M (w.p) or 372% above estimate! A work by Alice Neil, which was interestingly slotted into the sale at the last minute, also far surpassed its estimate of $600-800K; it sold for $3M or 279% above estimate. On the other hand, there were a few that went way lower than expected\u2026 the most catastrophic of the few was a sculpture by Joan Miro with a $7-10M estimate. It was a posthumous cast from 1994 \u2013 bidding topped out at $3.4M ($4.1M w.p), which is 51% below estimate. A large canvas by Jean Dubuffet shared a similar fate as it went 31% below estimate – $2.75M ($3.3M w.p) on a $4-6M estimate. There was also one left unsold; a Toulouse-Lautrec lithograph with a $500-700K estimate\u2026 bidding sputtered at $420K.<\/span><\/p>\n

At the end of the evening, 50 of the 51 works offered found buyers (one was withdrawn as well). They had 15 works fetch prices above estimate (29%), and 15 works find buyers below estimate (29%), with 19 lots falling within their range \u2013 a solid 37% accuracy rate. The total hammer for the sale was $415.9M, but when you add the premiums, that bumps the sale to $481.1M. Given they were expecting between $346.7-428.7, I’m thinking most were pretty happy with how the evening played out.<\/p>\n","protected":false},"excerpt":{"rendered":"

Finishing off the week of big Spring sales was Christie\u2019s 20th Century, which featured an impressive lineup; offerings included works by Monet, Rothko, Giacometti, Warhol, Picasso, Mondrian, and a slew of other big names. As you can see 20th Century … More…<\/a><\/p>\n","protected":false},"author":5,"featured_media":42033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[207,20,88,120],"class_list":["post-42025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-auction-news","tag-auction-results","tag-french-impressionist","tag-modern-art"],"yoast_head":"\nSaved The Best For Last \u2013 Christie\u2019s 20th Century Evening<\/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\/2021\/05\/saved-the-best-for-last-christies-20th-century-evening\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saved The Best For Last - Christie's 20th Century Evening\" \/>\n<meta property=\"og:description\" content=\"Finishing off the week of big Spring sales was Christie\u2019s 20th Century, which featured an impressive lineup; offerings included works by Monet, Rothko, Giacometti, Warhol, Picasso, Mondrian, and a slew of other big names. 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