The First Art Newspaper on the Net Established in 1996 United States Monday, September 1, 2014


Christie's in Record London Sale, Misses Target and Monet Water-Lily Painting Fails to Sell
Porters carry away Claude Monet's 1906 painting "Nympheas" which failed to sell during an auction of Impressionist and Modern Art in London June 23, 2010. Christie's said the piece had been valued at between 30 and 40 million pounds (44 to 59 million US dollars). REUTERS/Paul Hackett.
LONDON.- Christie's held London's biggest ever art auction on Wednesday when its impressionist and modern sale fetched 153 million pounds ($227 million), but the total fell short of expectations of 164-231 million pounds.

The big disappointment on the night came when a Monet water-lily painting worth an estimated 30-40 million pounds failed to sell. Bidding reached 29 million pounds.

The other top lot did change hands, however, with a Blue Period portrait by Picasso selling for 34.8 million pounds. The price includes a buyer's premium.

Composer Andrew Lloyd Webber, whose charity sold the painting, said he was pleased with the price, "especially in such austere times.

"This is a significant amount to devote to the Foundation's passions -- architecture and the sponsorship of young talent in musical theatre."

Overall, the auction total of 153 million pounds eclipsed the previous London auction record of 147 million pounds set by rivals Sotheby's in February.

On Tuesday, Sotheby's sold art worth 112 million pounds, towards the lower end of its range of estimates from 101 to 148 million.

The results underlined how strongly the fine art market has recovered following a brief slump caused by the financial crisis. But they failed to match the buzz surrounding sales earlier this year when world auction records were broken twice.

"This has been a very strong week of sales, even if on some pictures the expectations of sellers were not matched to those of potential buyers," said Robert Korzinek, fine art expert at specialist insurer Hiscox.

"What is important is that we have returned to a more normal level of liquidity in the art market."

Christie's said 55 percent of the lots sold were bought by European buyers, 40 percent by buyers from the Americas and five percent from Asia.

(Reporting by Mike Collett-White; Editing by Matthew Jones)

Christie's | Monet | Robert Korzinek |


Today's News

June 24, 2010

Christie's in Record London Sale, Misses Target and Monet Water-Lily Painting Fails to Sell

Lackluster Bidding for John Steinbeck's New York City Archive

A Real Van Gogh: How the Art World Struggles with Truth

Records Abound at New York City Polaroid Photo Auction

New Acquisition to Welcome Visitors at the de Young Museum this Summer

Artists Inspired by Alice Neel Exhibit at Victoria Miró Gallery

Daphne Todd Wins BP Portrait Award 2010 for Her Painting of Her Dead Mother

Former Moderna Museet Director Lars Nittve to Head Museum Plus in Hong Kong

Five Contemporary Photographers Show their Work at Cynthia-Reeves

WWII Nurse in Iconic Times Square Kissing Photo Dies

London International Art Fair Successfully Relaunches with New Exhibitors

Iowa Museum Aquarium Exhibit Highlights Gulf of Mexico Oil Spill

Major Survey of the Work of Charles Burchfield Opens at the Whitney

San Francisco Art Institute Presents On Kawara: Pure Consciousness at 19 Kindergartens

High Museum to Host Retrospective of Iconic 20th Century Photographer Henri Cartier-Bresson

Seeing Double an Engaging Visual Puzzle and Window into 1820s London Art Scene

Contents of 'Time Lord' Severin Wunderman's Cote D'Azur Home Sell Out at Bonhams

25 Centuries of Exchange between Asia and Europe at the Centre for Fine Arts in Brussels

Our Cities Ourselves Exhibition Envisions a Sustainable Urban Future for 2030

Museum Selects Stephen Starr to Serve as Executive Caterer and to Create New Museum Cafes and Restaurant

Most Popular Last Seven Days



1.- Neanderthals and humans were both living in Europe for between 2,600 and 5,400 years

2.- First major exhibition to explore the historical legacy of African cultural astronomy opens at LACMA

3.- Carlo Mollino's idealized vision of the female form in new book published by Damiani/Crump

4.- Tate Britain displays works by Frank Auerbach from the collection of Lucian Freud

5.- In grave robber territory, locals abuzz over Alexander-era tomb; Largest of its kind ever discovered in Greece

6.- Lambert Collection opens an ambitious project housed at the Sainte-Anne Prison

7.- Centre for Contemporary Art Singapore announces the first 18 artists in the CCA Residencies progamme

8.- Historic Kings Theatre is transformed into major New York Performing Arts venue

9.- Thirteen's American Masters Series co-produces new documentary about photographer Dorothea Lange

10.- Sotheby's New York to offer 548 Edward Weston photographs as a single lot this September

Related Stories



Christie's announces auction marking the first half century of the popular and luxurious interiors shop Guinevere

Christie's New York wraps 2012 with over $163 million in jewelry auction sales

Christie's sale of masterpieces formerly in the Collection of Monsieur and Madame Riahi realises $31.9 M

Christie's presents a week-long series of auctions devoted to magnificent jewels, watches, wine and design

Christie's Launches Spring 2011 Season of Post-War and Contemporary Art with First Open

Most Important Peploe Ever to Come to Auction Leads Scottish Colourist Paintings at Christie's

Extravagant Official Publishing Entreprise Leads Christie's Auction of Books and Manuscripts

Christie's Celebrates American Artistry and Craftsmanship with Exceptional Offerings

Christie's International Leads the Market for Watches in Europe, Asia, and the America's

Important 20th Century Decorative Art and Design Works Shine at Christie's New York



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher: Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez - Marketing: Carla Gutiérrez
Special Contributor: Liz Gangemi - Special Advisor: Carlos Amador
Contributing Editor: Carolina Farias

Royalville Communications, Inc
produces:

ignaciovillarreal.org theavemaria.org juncodelavega.org facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site