New York Finally, after a very difficult year: “The market is back in good shape”, announced Sotheby’s Star auctioneer Oliver Barker on Wednesday evening with understandable enthusiasm. He had just sold art for a total of 597 million dollars in an extremely dynamic and animated tour-de-force, again via live stream.
Sotheby’s Claude Monet’s late landscape format “Le Bassin aux Nymphéas”, which was created between 1917 and 1919 and kept four bidders from New York, London and Hong Kong in suspense for several minutes, won the top prize. It wasn’t until $ 70.4 million that the hammer fell for Grégoire Billault, head of the Contemporary Art department, and his clients.
At the competitor Christie’s Above all, a two-meter-high, red-ground painting by Jean-Michel Basquiat provided the multi-million dollar foundation of the high-end auction. Basquiat is one of today’s most sought-after artists, a black painter who revolves around questions of identity.
At least five bidders from Asia and the USA quickly catapulted “In This Case” (1983) beyond the $ 40 million bid. The hammer only fell at $ 93.1 million premium, Basquiat’s second highest auction price. The picture was sold by Giancarlo Giammetti, co-founder of the Valentino fashion house. At the last auction appearance in 2002, it had changed hands for just under a million dollars.
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“The relationship between supply and demand has finally leveled off again,” said Christie’s CEO Guillaume Cerutti on the evening before the start of the important spring auctions from Impressionism to the present. That was very different last year, when there was still strong demand from hesitant consignors.