Following its highly successful online Design and Modern & Contemporary Art auctions this Spring, Freemans
announced another stellar result. Its inaugural June 26 Art + Design auction achieved a 95% sell-through rate and totaled just shy of $500,000, comfortably surpassing its pre-sale high estimate.
With works offered at more accessible price points by world-class artists and designers such as George Nakashima, Samuel Yellin, Josef Albers, Robert Motherwell and Pablo Picasso, the 94-lot auction welcomed a host of new online bidders. Accounting for 40% of successful buyers, the influx of new bidders confirms Freemans continued success in attracting new online buyers.
Not only am I thrilled by the competitive bidding and strong prices achieved throughout our Art + Design sale, but Im also highly encouraged by the robust presence of new collectors attracted to the sale by its diversity of material and approachable price points, remarked Head of Sale Shannon Jeffers, As the art market continues to shift towards a predominantly virtual format, Freemans continues to create new and exciting opportunities for first-time, online buyers to join our community of art lovers. We are harnessing the momentum generated by this first Art + Design auction by offering similar sales this fall, including another Art + Design auction as well as a dedicated, online Prints and Multiples auction.
Last Fridays auction was led by a Rare Four-door "Chan" Cabinet, New York, circa 1970s by Philip and Kelvin LaVerne (Lot 15), which surpassed its pre-sale high estimate to sell for $43,750. Other Design works that exceeded expectations include a Special "Triple Cabinet with Sliding Doors", 1971 by George Nakashima (Lot 70), which sold for $27,500 and a Two-door Gate for the Miles F. Goodman Residence, Lancaster, Pennsylvania, 1924 by Samuel Yellin (Lot 77), which realized $27,500. A light-switch cover made by Yellin for the same residence (Lot 78) sparked a lengthy bidding war which saw the piece soar past its pre-sale estimate of $400-600, bringing $16,250.
Prints, multiples and sculptures by well-known artists from around the world elicited spirited competition, resulting in numerous strong prices. A particular highlight was New York, N.Y. 10008 by Chilean artist Nemesio Antunez (Lot 40), which realized $19,500, far exceeding its pre-sale estimate of $800-1,200. The Untitled sculpture by Mexican artist Pedro Friedeberg (Lot 12) also performed well, nearly doubling its pre-sale high estimate, realizing $5,938. Works on paper by blue-chip artists such as Adolph Gottlieb (Lot 36); Patrick Heron (Lot 35); Josef Albers (Lot 31); and Paul Jenkins (Lot 94) also achieved prices above their estimates.
The Art + Design auction is the first of its kind at Freemans. It presents art and objects from the Modern & Contemporary and Design departments in compelling ways, appealing to a new generation of buyers who collect across categories. A number of similar auctions are planned for Freemans Fall/Winter 2020 auction season.