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Art Basel Miami Beach signaled a strong return this week, with early sales reportedly up 40%‌ compared to both‌ the opening hours of the 2024 fair and the entirety of last year’s week-long event, according to Hauser & Wirth president Marc⁣ Payot.The fair, a key indicator of the art market’s health, saw⁢ notable⁢ transactions including ⁣a George Condo painting selling for just ⁣under $4 million, and two Louise Bourgeois paintings fetching $3.2 million and $2.5 million ⁤respectively.

The event drew a‌ notable‍ crowd of collectors and industry figures, including ‍billionaire developer Jorge ⁢Perez, observed reading the Financial ⁤Times while⁢ declining⁢ refreshments. Galleries showcased aspiring works, with‌ a ‌prominent‌ theme being richard Prince‘s work‌ – ‌displayed in multiple booths at Gladstone, Skarstedt, and Acquavella – ‍alongside pieces by‌ jeff Koons. While sales volume didn’t match that of Art Basel Paris, the Miami Beach⁣ fair outperformed the 2024 ‌edition.

beyond the core fair,⁤ related events included Jewel, a visual artist⁤ with a show ‍during the Venice⁣ Biennale presented by crystal Bridges, and a pre-opening⁤ breakfast dubbed the “Prelude”‍ featuring a string quartet and flowing Ruinart champagne.The fair’s atmosphere was ⁤described as ‍positive, with a focus on high-quality art and ample ‌price points.

Auction Week Surprises: Furniture and Works on Paper Outshine Paintings at Christie’s ‍and Sotheby’s

NEW YORK, NY – New York’s recent auction week delivered unexpected⁣ results, with furniture and modestly priced works on paper proving to be ⁤strong performers alongside headline-grabbing masterpieces. christie’s saw fierce bidding on pieces from the‌ collection ⁣of ⁢Stefan Edlis and⁢ Gael Neeson,while Leonard Lauder’s‍ collection offered accessible entry points for collectors.

A standout moment at Christie’s evening sale involved furniture from the Edlis and Neeson collection.‍ The auction house notably recreated a‍ gallery space ​mirroring the couple’s Chicago apartment,complete with a Cindy Sherman work hung high on the ⁤wall and a Warhol above a faux fireplace. Though, ‌it was ‌the couple’s design pieces that stole the show: two bookshelves by Diego Giacometti and two rare giacometti coffee tables.The bookcases ignited bidding⁢ wars, surpassing high estimates, and ultimately outselling⁣ many of ‍the paintings on offer. A low table with fox heads, a particularly sought-after​ Giacometti design, reached a final price of $4.5 million – exceeding the prices achieved by works from Princes and Peyton, and several Warhols.

Meanwhile,the Leonard Lauder collection,largely inaccessible to most collectors due to its high value,presented opportunities in its day‍ sale. Several works on paper, originally purchased by Lauder from galleries ‍in the 1970s and⁣ 80s – including pieces by Elizabeth ​Murray and joel Shapiro from Paula Cooper, ‌and Dorothea Rockburne from John Weber – were offered with low estimates of⁢ $5,000. These works ultimately sold for significantly⁣ more, with the Murray and Rockburne achieving prices nearly ten times ‍their initial estimates, though remaining comparatively affordable given‍ the overall⁤ collection’s value.