Out from the ashes
Recent sales of contemporary art reveal a vibrant yet capricious rebound
Feb 17th 2010 | From The Economist online
The contemporary art business has bounced back faster than many expected, but the market still lacks the coherent drive of the boom.一句话点名主旨 Whereas evening sales in 2007 had the exhilaration of a Formula One race, last week's contemporary sales at Sotheby's, Christie's and Phillips had a rambling不着边际的 (谈话), 漫无限制的, (思想等)散漫的 feel, as if bidders were driving cross country in a wide range of vehicles.
Sotheby's Sotheby's kicked off the week with an evening sale on February 10th that brought in £54.1m ($84.5m), the second-highest total for a February contemporary auction and three times more than last year's paltry没有价值的; 微不足道的 £17.9m. Of the 79 lots on offer, more than half came from the highly credible but hithertoadv. 迄今; 到目前为止uncommercial collection of Gerhard and Anna Lenz, who have concentrated on a branch of apocalypticallyadj. 预示灾祸的,启示的 minimal art called “Zero”. The artworks, which Sotheby's catalogue associated with “a grey emptiness... a cultural cemetery墓地, 公墓 and a knowledge vacuum”, were not what you'd normally think of as surefireadj. 一定成功的 auction lots. Nevertheless, most of them were met with enthusiastic bidding and 19 works achieved record prices. Sotheby's European chairman of contemporary art, Cheyenne Westphal, explained that buyers “took great comfort in the time, care and consideration invested by Mr and Mrs Lenz in assembling such a coherent group.”
One historic lot was a rare set of three paintings by Roman Opalka, who has conceived想到; 想象
his oeuvre n. 全部作品 since 1965 as a single continuous work in which he paints white numbers in order from one to infinity on consecutive连续的, 依顺序的, mostly grey canvases; each new painting starts the numbers where he last left off (see slideshow below). The “1-∞” paintings were initially offered as three separate lots, but the artist intervened after hearing about the sale and requested they be sold as a triptych. The buyer of the Opalkas told The Economist that the “marriage value” of the three works was worth the £713,250 he paid. “Opalka is one of the great artists of the conceptual era,” he said. “Three consecutive paintings tell the story of the incredible beauty that comes out of this intense labour.”
A 1961 “Fire” painting by Yves Klein entitled “F 88”, which features voids in the shape of naked women, was the most expensive lot of the Lenz consignment, reaching £3.3m. It was bought by a Swiss collector sitting in the room, who also acquired Klein’s “MG 25” for £1.7m and Lucio Fontana's copper relief, “Concetto Spaziale, New York 26”, for £3.1m (see slideshow). Loic Gouzer, a contemporary art specialist at Sotheby's, enthused v. 热狂, 使热心, “Owning a Klein is like owning a fragment of another planet.”
No contemporary evening sale is complete these days without a Peter Doig. Sotheby's offered “Saint Anton (Flat Light)”, a large-scale snowy mountainscape, consigned by James Van Damme, who had acquired the painting from the Victoria Miro Gallery for £12,000 in 1996. The lot sold for £2.84m to an anonymous telephone bidder. When asked why he was selling, Mr Van Damme admitted that he was keen to buy a Trinidadian summer scene by the artist, adding that “Sotheby's did an amazing job convincing me to sell.” Many were surprised, including Mr Van Damme, when Mr Doig's “Concrete Cabin West Side” (see slideshow), from an earlier, more art-historically relevant series, sold for less—£2.1m—at Christie's the following night. Rumour has it that Roman Abramovich psyched out吓坏 装疯 逃避 the competition; no one wants to bid against him.
On February 11th Christie's sold 90% of their 51 lots, bringing in a total of £39.1m—a nice step up from the £8.4m raised in the equivalent 相等的, 相当的 sale last year. Lot 1 raised an eyebrow使别人人惊讶,引人侧目或不满or two: Matthew Day Jackson's 2007 depiction of Richard Buckminster Fuller in psychedelic glasses (see slideshow) soared over its high estimate of £40,000 to sell for £601,250 to Laurence Graff, a diamond dealer, sitting in the front row. Mr Graff had not heard of the young artist until he received Christie's catalogue, but he was “knocked out” when he saw the work up close. “I'm a jeweller. I know about execution and that painting is flawless,” said Mr Graff. “I didn't care what I paid.” Mr Graff went on to purchase a large red “Dollar Sign” painting by Andy Warhol and also the cover lot: Yves Klein's “Anthropométrie (ANT 5)”, a wood panel on which a woman's figure is outlined in the artist’s signature blue pigment, created as part of a series of six just before the artist's death at age 34 in 1962 (see slideshow).
Other triumphant lots included Klein's “Relief Eponge Or (RE 47II)”, which sold for £5.9m, the highest price of the week; Martin Kippenberger's “Fliegender Tanga (Flying Tanga)”, an early five-canvas extravaganza, which fetched vt. 取来,获得£2.6m, the second-highest price ever paid for the artist at auction; and Alighiero Boetti's “Onomino”, a red pen “Biro” work from 1973, which achieved a record £1m for Boetti. As Francis Outred, the director of Christie's postwar and contemporary art department in Europe, saw it, “We've seen growth in the market when we're supposed to have been in recession. The prices of European postwar artists are catching up with their American counterparts.”
Following these sales was one at Phillips de Pury & Company on Friday night. At the end of the week, one needs some entertainment, and Simon de Pury, a flamboyant艳丽的, 灿烂的 auctioneer with a rogue歹徒, 流氓 sense of humour, always accommodates. He hammered out £6.1m worth of art, mostly by younger artists selling for under £100,000. The top lots all sold for over £500,000—including two Jean-Michel Basquiat paintings, a Donald Judd wall sculpture, an exquisite精致的, 高雅的 little Gerhard Richter, “Abstrakes Bild”, and a fabulously adv. 难以置信地perverse George Condo painting called “Father and Son” (see slideshow). Back in 2008 Phillips was thought to be in a precarious financial state, and in 2009 the company weathered some shaky sales, so it was good to see a sell-through rate of 86% by lot, 92% by value. After the sale, Henry Allsopp, who went from being a private dealer to a senior specialist at Phillips just a month ago, said earnestly, “I think the market wants a third auction house—a cooler place where contemporary art is the core business.”
comment: Yeah when times goes down for business, the best choice keeping the value of money is to buy some art works. But i wonder if all the works are equivalent to the price they were sold, in my sense, which i think some other factors just exaggerate the real value of the piece work. So let us focus on what we have experienced in the essay, what we got is that the bouncing back market really turns on our dealers faith in the future, but don't slide on the other tinny issue that market still lacks the coherent drive of boom, in a nutshell, the future is more bluring than what we expect.
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