Will art auctions smash price records this season?
November 16, 2016
Paintings by Willem de Kooning and Edvard Munch have smashed the price records for these works at auction this week. Artworks by Picasso and Frida Kahlo are still up for grabs.
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Most expensive artworks sold at auction
Da Vinci's "Salvator Mundi" holds the record for the most expensive work of art to go under the hammer. Munch and Van Gogh also make the list, and a Monet painting has broken the record for auctioned impressionist art.
Image: picture alliance/ZUMAPRESS/R.Tang
Da Vinci's 'Salvator Mundi': $450.3 million
Created around 1500, this painting of Christ attributed to Leonardo da Vinci is one of the master's 20 still existing paintings. In 1958 "Salvator Mundi" was sold for just $60 because it was thought to be a copy. But it fetched more than four times Christie's pre-sale estimate on November 15, 2017, when it was sold for over $450 million (€382 million) — setting a world record for auctioned art.
Image: picture alliance/ZUMAPRESS/R.Tang
Picasso's 'Women of Algiers': $179.4 million
From 1954-55, Pablo Picasso did a series of 15 paintings inspired by Delacroix's "Les Femmes d'Alger," with versions named "A" through "O." He started them after the death of Henry Matisse, as a tribute to his friend and artistic rival. "Version O" broke the world record for an auction sale, selling for $179.4 million (167.1 million euros) at Christie's in May 2015.
Image: Reuters
Modigliani's 'Reclining Nude': $170.4 million
At a Christie's auction held in November 2015, seven potential buyers spent nine frantic minutes bidding on this painting. It was finally snapped by a telephone bidder from China. The nude, painted in 1917-18, provoked a scandal at its first exhibition in Paris. The police shut down the art show after a crowd gathered outside the window.
Image: picture-alliance/AP Photo
Modigliani's 'Nude lying on her left side': $157.2 million
Modigliani's work "Nu couché (sur le côté gauche)" caused such a controversy when it was first shown in Paris in 1917 that the police had to close the exhibition. The Italian artist's oil painting became the most expensive artwork to have been sold at New York auction house Sotheby's in May 2018.
Image: Reuters/Venus Wu
Klimt's 'The Woman in Gold': $135 million
This 1907 painting by Gustav Klimt is considered one of the most elaborate and representative of his "golden phase." In 2006, it was sold through a private sale brokered by Christie's for a record sum for a painting, $135 million. That same year, Jackson Pollock's classic drip painting "No. 5 1948" broke that record, obtaining $140 million through another private sale.
Van Gogh's 'Portrait of Dr. Gachet': $149.7 million
Van Gogh allegedly said of the homeopathic doctor Dr. Gachet, whom he painted here in 1890, that "he was sicker than I am." The plant is a foxglove, which is used to make the drug digitalis. In 1990, the work was auctioned off to Ryoei Saito, Japan's second-largest paper manufacturer, for $82.5 million, making it the world's priciest painting at the time (the price above has been adjusted).
Image: AP
Bacon's 'Three Studies of Lucian Freud': $142.4 million
This 1969 triptych documents Francis Bacon's friendship and rivalry with fellow painter Lucian Freud. At the time it was sold, in November 2013, it obtained the highest price for a work of art at an auction, until Picasso - and now Modigliani - surpassed that record in 2015.
Image: picture-alliance/dpa
Renoir's 'Dance at Moulin de la Galette': $141.7 million
This 1876 work by Impressionist master Renoir depicts a dance venue for high society on the outskirts of Paris, the Moulin de la Galette. One of Renoir's most famous works, it exudes the joie de vivre that is characteristic of his style. In 1990, the work was purchased for $78.1 million (adjusted price above) by Japanese buyer Ryoei Saito, along with van Gogh's "Portrait of Dr. Gachet."
Image: picture-alliance/dpa
Picasso's 'Boy with a Pipe': $130.7 million
This portrait of an adolescent holding a pipe and wearing a garland of flowers in his hair was created during the Spanish master's "Rose Period" in 1905. Just a little under a century later, the painting fetched an impressive sum of $104.2 million at a Sotheby's auction in 2004 (price adjusted above).
Image: picture-alliance/dpa
Munch's 'The Scream': $119.9 million
This agonizing character painted by Edvard Munch is one of the most iconic paintings in the world. The Expressionist artist had actually made four versions of it: Three are in Norwegian museums, and the fourth one was sold for the screeching price of $119.9 million in May 2012 at Sotheby's, which would be adjusted to $130.7 million today.
Image: picture-alliance/dpa
Picasso's 'Young Girl with a Flower Basket': $115 million
Picasso is well represented among the highest earning painters. His 1905 masterpiece "Fillette a la corbeille fleurie" ("Young Girl with a Flower Basket") was sold – along with two other Rose Period paintings – by the artist himself to writer Gertrude Stein in a sale that helped launch his career. The work, which was later part of David and Peggy Rockefeller's collection, sold for $115 million.
Image: picture-alliance/dpa/J. Schmitt-Tegge
Monet's 'Meules': $110.7 million
The French painter Claude Monet created multiple landscape series that depict the same subject in different types of light and seasons, showing off his ability to capture atmosphere. The painting "Meules" (1890), from his "Haystacks" series, fetched $110.7 million (€98 million) at a Soethby's auction — the record for a Monet and the first impressionist painting to cross the $100-million threshold.
Image: picture-alliance/AP Photo/Sotheby's
Picasso's 'Nude, Green Leaves and Bust': $106.5 million
Inspired by his mistress Marie-Thérèse Walther, Picasso created this painting in a single day in 1932. If you add the eight minutes and six seconds it took for the auction record bid at Christie's in May 2010, it still appears to be well-invested time. Its price could be adjusted to $115.7 million today.
Image: picture-alliance/dpa
Botticelli's 'Young Man Holding a Roundel': $92.2 million
Sandro Botticelli's masterpiece was sold at auction at Sotheby's in January 2021 for $92.2 million. The Italian Renaissance master had never fetched so much at auctions before. Prior to the sale, the work had been estimated at about $60 million.
Image: AFP/ C. Ord
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With the art auction season in full swing, "Untitled XXV" by Dutch-American artist Willem de Kooning sold Tuesday at Christie's in New York for $66.3 million. The bid set a record for a work by the abstract artist.
Born in the Netherlands in 1904, De Kooning immigrated to the US in 1926 and became known as a champion of abstract impressionism. He created "Untitled XXV" in 1977, employing the bright, colorful brush strokes that were characteristic of his work from that period.
A decade ago, the same work was auctioned for $27.1 million, which set a record at the time.
De Kooning's painting is just one of the masterpieces going under the hammer this week at renowned auction houses like Christie's and Sotheby's. The results of the fall auction season provide an indication of the global art market, which is seeing an increase in bidders from China as well as a steady stream from art hubs in the US, as well as in Paris and London.
Another significant work at the auction was a painting by German artist Gerhard Richter, which had belonged to British musician Eric Clapton. "Abstract Painting" sold for just over $20 million, according to Christie's. Richter is the most expensive living artist in Germany.
Masterpieces left to buy
Earlier this week, "Girls on the Bridge" (1902) by Norwegian artist Edvard Munch fetched $54.4 million at Sotheby's in New York, making it Munch's second-most expensive work sold. In 2012, his "The Scream" became the priciest artwork ever sold at an auction, going for $119.9.
The distinction of most-expensive auctioned artwork, as shown in the gallery above, is now held by Picasso's "Women of Algiers (Version O)," which went for $179.4 million last year.
Also this week, Christie's is auctioning works by US pop artist Andy Warhol and ceramics by Pablo Picasso.
A rediscovered painting by Mexican artist Frida Kahlo is estimated to fetch between $1.5 and $2 million next week at Sotheby's. The 1929 portrait, "Girl With Necklace," appears to portray a young Kahlo, though the unsmiling model is unknown.
Kahlo's husband, artist Diego Rivera, had given the painting to Kahlo's personal assistant after she died in 1955. The owner kept it in her darkened bedroom in California for over 60 years before it resurfaced this past summer.
Record crowds, if not record prices
This past weekend, Sotheby's in London auctioned off the private art collection of David Bowie, who passed away in January. Sales totaled over $41 million, which didn't set any art price records, although the auction drew recording crowds.
Over 51,000 visitors - the highest attendance for any pre-sale exhibition in London - came to see the works by Damien Hirst, Henry Moore, Marcel Duchamp and others before they went under the hammer.