The First Art Newspaper on the Net   Established in 1996 United States Monday, May 21, 2018

Bolstered by Strong Results, Art Experts Upbeat About London February Auctions
Artist Amedeo Modigliani's "Frans Hellens" is seen at Sotheby's before its preview exhibition of highlights from its upcoming London sale of Impressionist Modern and Contemporary art in New York January 10, 2011. REUTERS/Shannon Stapleton.

By Chris Michaud

NEW YORK (REUTERS).- Bolstered by strong results last year, leading auction houses are hoping sales in London next month will ride an art market recovery after the sharp decline that sent prices tumbling in 2009.

Art experts at Sotheby's said they are cautiously optimistic that works by Pablo Picasso, Frances Bacon and Salvador Dali, which are on display in New York this week, will set some new artist's records at the Feb 10 sale in London.

"There continues to be a very, very strong global demand for quality works, from collectors both established and new," said Helena Newman, Sotheby's' European head of Impressionist and modern art.

"That was very much in evidence in New York and in London all through last year."

Sotheby's is exhibiting more than 50 of the most valuable works it will auction in London, including "La Lecture," a 1932 Picasso portrait of his mistress Marie-Therese Walter, which has an estimated price of up to $27 million, and "Three Studies for Portrait of Lucian Freud" by Francis Bacon that could fetch as much at $14 million.

The 50-plus works are valued at more than $120 million.

Bacon's triptych of his good friend Freud, and a diminutive Freud self-portrait, could sell from 40 to 55 million pounds ($62 million to $85 million).

Tobias Meyer, Sotheby's worldwide head of contemporary and post-war art, said Freud was on holiday at Ian Fleming's famous "Goldeneye" estate in Jamaica in 1952 when he found himself trapped on a banana boat with a group of people he despised.

The often-dour artist locked himself in a bathroom, and rendered the iconic self-portrait.

"It just show how great art can be produced anywhere," Meyer said.

Bacon's "Three Studies for a Portrait of Lucian Freud," has not been seen publicly in 45 years. In May 2008 a large Bacon triptych sold for $86.3 million, a record for the artist.

Works by Giacometti and Amedeo Modigliani are among scores of paintings and sculptures that are on display and will be auctioned in London.

A $104.3 million Giacometti sculpture sold at Sotheby's a year ago set a record for any work sold at auction, but it was soon eclipsed in May by the $106.5 million sale of a Picasso at Christie's. Sotheby's also set a Modigliani record in November at its New York sale.

"Collectors see art as a very good investment," Meyer said. "Prices have come back, but with credit markets opening up, maybe they don't need to sell to raise liquidity," he added, referring to the difficulty of securing rare, top-quality works to sell.
"That's why we see this intense competition for estates," he said.

Dali's early Surrealist portrait of Paul Eluard, expected to sell for more than 4 million pounds ($6 million), is poised to break the $5.7 million record for the artist set in May in New York.

Christie's displayed Impressionist and modern works this week at an exhibition in New York and a group of Surrealist offerings that will be auctioned in London on February 9.

Sotheby's Impressionist and modern auction is slated for February 8 in London.

Today's News

January 12, 2011

Surreal $36 Million Salvador Dalí Museum Opens in New State of the Art Building in Florida

National Portrait Gallery Announces a Touring Exhibition "The Queen: Art and Image"

Mississippi Governor Haley Barbour Says It is Time to Build Civil Rights Museum

Italian Researcher Silvano Vinceti Claims He has Found Symbols in 'Mona Lisa'

Judge in New York Drops Claims in Shepard Fairey vs. Associated Press Obama 'HOPE' Lawsuit

Astronomers Release the Largest Digital Color Image of the Sky Ever Made

Banksy's Original Art Work for Greenpeace Campaign Poster Makes £78,000 at Bonhams

Masterpieces From the Alberto Della Regione Collection at the Estorick Collection

Italian Painter Marco Casentini's Signature Geometric Abstractions at Brian Gross Fine Art

Group of Important Works from 1963 and 1964 by Lee Lozano at Hauser & Wirth

Film Performance with Legendary Experimental Film-Maker Ken Jacobs at Moderna Museet

Smithsonian's National Museum of American History Collects Tony Hawk Skateboard

Longest Running Art Fair West of New York Celebrates Its 20th Anniversary, Opens January 13

Lizzie and Jonathan Tisch Make $10 Million Gift to Renovate Metropolitan's Costume Institute

Dennis Hopper's Bullet-Hole Andy Warhol Sells for $302,500 Today at Christie's

2011 AIA Institute Honor Awards Recognize Excellence in Architecture, Interiors, and Urban Design

Local Woman Immortalized in Bronze as Folkestone's Mermaid

Everson Museum of Art Launches New Interactive Website Component

Haggerty Museum of Art Receives Three Major Collections Valued at $1 Million

Researchers Find Earliest Known Winery in a Cave in the Mountains of Armenia

Bolstered by Strong Results, Art Experts Upbeat About London February Auctions

The Wapping Project Bankside Opens 2011 with Photographs by Christopher Thomas

A Blockbuster Two-Part Sale of European Masters Announced at Christie's New York

Rediscovered Self-Portrait by Andy Warhol to be Offered at Christie's in February

Miami International Art Fair to Kick Off on Thursday with 73 Local and International Exhibitors

Online Access to the Plants of the World Is Available

Christie's International Real Estate is New Name for World's Leading Network of Property Specialist

The Comité des Sages Calls for a "New Renaissance" by Bringing Europe's Cultural Heritage Online

Most Popular Last Seven Days

1.- Boy and an amateur archaeologist unearth legendary Danish king's trove in Germany

2.- Exhibition at The Met illustrates what visitors encountered at The palace of Versailles

3.- Philadelphia Museum of Art opens "Modern Times: American Art 1910-1950"

4.- Exhibition at Michael Hoppen Gallery presents a cross-section of works from Thomas Mailaender's career

5.- New York's Chelsea Hotel celebrity door auction raises $400,000

6.- Stevie Ray Vaughan's first guitar drives Entertainment & Music Memorabilia Auction to nearly $2.9 million

7.- Lichtenstein's Nude with Blue Hair tops $2.4 million sale of Modern & Contemporary Prints & Multiples

8.- $6.7 million Fancy Intense Blue Diamond sets auction record at Sotheby's New York

9.- Mexico court blocks sales of controversial Frida Kahlo Barbie doll

10.- Dutch museums to conduct new research on the paintings of Pieter de Hooch

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, .


Ignacio Villarreal
Editor & Publisher:Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
Founder's Site. The most varied versions
of this beautiful prayer.
to a Mexican poet.

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful