{"id":55579,"date":"2024-11-22T12:18:27","date_gmt":"2024-11-22T17:18:27","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=55579"},"modified":"2024-11-22T12:18:27","modified_gmt":"2024-11-22T17:18:27","slug":"sothebys-new-york-the-now-contemporary","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2024\/11\/sothebys-new-york-the-now-contemporary\/","title":{"rendered":"Sotheby’s New York “The Now” & Contemporary"},"content":{"rendered":"

On Wednesday, November 20th, Sotheby\u2019s hosted their contemporary evening sale, including what, for the past several years, they have referred to as \u201cThe Now.\u201d While it did not breach into the top lots, most of the talk surrounding this sale concerned Maurizio Cattelan\u2019s world-famous piece of concept art known as <\/span>The Comedian<\/span><\/a><\/em>, consisting of a banana adhered to a wall with silver duct tape. I originally thought the lot would include concept drawings or one of the official installation guidelines the artist provides for any gallery or museum that licenses the work. However, I was somewhat surprised to see in the lot notes that a banana and duct tape were the work\u2019s sole media. The famous fruity work of conceptual art ran straight past its pre-sale $1.5 million high estimate, achieving a final hammer price of $5.2 million (or $6.24 million w\/p). The buyer <\/span>was soon identified<\/span> as cryptocurrency entrepreneur Justin Sun, who called <\/span>The Comedian<\/span><\/em> \u201ca cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.\u201d Not the ideas I associate with the work, but whatever floats your boat. Sun later announced his intention to eat the banana, transforming a commentary on the nature of art in the style of Marcel Duchamp into history\u2019s most expensive grocery delivery.<\/span><\/p>\n

\"A<\/a>

Georges’ Flag<\/em> by Ed Ruscha<\/p><\/div>\n

The Cattelan may have been the star of the evening, but it was not the most valuable lot. That distinction goes to the 1999 Ed Ruscha painting <\/span>Georges\u2019 Flag<\/span><\/em>. The work shows a billowing American flag against a fiery sky, based on a photograph Ruscha took of a large American flag at the Santa Monica Pier, the western terminus of Route 66. <\/span>Georges\u2019 Flag<\/span><\/em> is a continuation of<\/span> Ruscha\u2019s longtime fixation on signs and symbols. Sotheby\u2019s specialist Lisa Dennison describes it as \u201ca bridge between realism and the graphic power of pop art.\u201d Ruscha would return to the American flag as a subject later on in his career, treating it as a symbol in the same way that his pop art contemporaries like Jasper Johns would famously do. The enormous painting, measuring over 10 feet long, last sold at auction in 2005 at Christie\u2019s for $1.6 million w\/p. It fared far better this time <\/span>around<\/span>, selling slightly above its $12 million pre-sale high estimate at $13 million (or $13.65 million w\/p).<\/span><\/p>\n

\"An<\/a>

Contranuities<\/em> by Stuart Davis<\/p><\/div>\n

In second place came a rather refreshing addition to the sale. <\/span>The work of Stuart Davis<\/span>, I think,<\/span> is seldom highlighted at the big-budget evening sales at the major auction houses.<\/span> He is known for his modernist take on daily life, and many refer to Davis as a precursor to pop art. His 1963 painting <\/span>Contranuities<\/span><\/em> displays <\/span>a wide range of<\/span> influences, drawing on both color and form from cubist art, Matisse, Mondrian, and L\u00e9ger. <\/span>Contranuities<\/span><\/em> had previously been in the same private collection for over forty-five years, with the seller acquiring it from Andrew Crispo Galleries in 1978. The painting <\/span>was also predicted<\/span> to set a new auction record for the artist. His 1928 painting <\/span>Rue Lipp<\/span><\/a><\/em> previously held that title, selling for $6.8 million w\/p at Sotheby\u2019s New York in 2018. Even though it did not quite reach the $12 million minimum estimate, <\/span>Contranuities<\/span><\/em> regardless<\/span> shattered this record, selling for $10.5 million (or $12.2 million w\/p).<\/span><\/p>\n

And finally, the third successful high-value lot at the evening sale was <\/span>Untitled XXV<\/span><\/em> by the legendary Dutch-American abstract expressionist Willem de Kooning. The 70-by-80-inch painting, with its flowing designs on a white field, is reminiscent of Kandinsky\u2019s work from the 1920s. Sotheby\u2019s lot notes describe <\/span>Untitled XXV<\/span><\/em> as \u201ccalligraphic\u201d, since it is more calm than his early works and more representative of him settling into life in East Hampton, New York, by the 1980s. Comparing this painting with his earlier works, particularly <\/span>his <\/span><\/a>Woman<\/span><\/a><\/em> series from the 1950s<\/span><\/a>, shows the development of his artistic style over the decades. <\/span>Untitled XXV<\/span><\/em> ended up<\/span> just squeezing by the specialists\u2019 $9 million low pre-sale estimate, achieving $9.4 million (or $10.9 million w\/p).<\/span><\/p>\n

\"A<\/a>

Untitled XXV<\/em> by Willem de Kooning<\/p><\/div>\n

Along with the Cattelan, Sotheby\u2019s saw several other surprises that evening. <\/span>Roy Lichtenstein\u2019s 1992 <\/span>Oval Office (Study)<\/span><\/a><\/em>, for example,<\/span> attracted a great deal of attention, exceeding its $1.5 million high estimate by a factor of 2.3, hammering at $3.5 million (or $4.2 million w\/p).<\/span> Furthermore, the last lot in the sale, the 2022 silkscreen <\/span>Black Dada (K)<\/span><\/a><\/em> by Adam Pendleton, hammered at $850K, or 3.4 times its $250K high estimate. However, Sotheby\u2019s faced a slight problem when some of the evening\u2019s lots failed to gain traction with bidders and wound up unsold. These included the sculpture <\/span>Woman in Tub<\/span><\/a><\/em> by Jeff Koons (est. $10 million to $15 million) and the multimedia Jasper Johns work <\/span>Evian<\/span><\/a><\/em> (est. $6 million to $8 million). <\/span>So even though only five of the forty available lots failed to sell, <\/span>they resulted in Sotheby\u2019s failing<\/span> to hit their total pre-sale estimate low of $103.2 million.<\/span> With fifteen lots selling within their estimates (38%), thirteen selling above (33%), and seven selling below (18%), Sotheby\u2019s brought in slightly less at $98.4 million (or $112.3 million w\/p).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, November 20th, Sotheby\u2019s hosted their contemporary evening sale, including what, for the past several years, they have referred to as \u201cThe Now.\u201d While it did not breach into the top lots, most of the talk surrounding this sale … More…<\/a><\/p>\n","protected":false},"author":6,"featured_media":55591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[224,634,709,751,207,134,20,15,429,1230,120,11,1229,606],"class_list":["post-55579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-20th-century-american-art","tag-20th-century-european-art","tag-abstract","tag-abstract-expressionism","tag-auction-news","tag-auction-records","tag-auction-results","tag-comments-on-the-art-market","tag-contemporary-art","tag-de-kooning","tag-modern-art","tag-rehs-contemporary-news","tag-ruscha","tag-sothebys"],"yoast_head":"\nSotheby's New York "The Now" & Contemporary - 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