Category: Auctions
'Rejected' Van Gogh makes €550,000
September 3 2020
Picture: artnews
Posted by Adam Busiakiewicz:
A painting attributed to Van Gogh, which the Van Gogh Museum in Amsterdam had rejected, sold for €550,000 in Germany this week. The Wijk Mill is purported to have been painted during 1883-5 when the artist was imitating seventeenth century Dutch old masters. Dechow, the auction house who sold the work, have had their attribution supported by the German art historian Ulrich Kuder who has written a book on a Van Gogh from this period. The Van Gogh Museum in Amsterdam, whose expertise are sought for matters of authentication, have said that they do not believe it is by him.
Whoever bought the work has made quite a big gamble. Trying to get art experts to change their minds on such matters is by no means easy.
Update - A reader has kindly drawn my attention to this article that was published by DE24. Curiously, it explains that the attribution to Van Gogh has been supported by an 'AI Expert'.
To quote the article:
The artificial intelligence (AI) expert, Wolfgang Reuter, sees it differently.
The leading data scientist at the Munich company Alexander Thamm examined the painting using an AI. The result: “The Wijk Mill” actually came from van Gogh with an 89 percent probability.
AI checks digital fingerprints of artists Reuter’s model cannot only be applied to questions about Van Gogh. “Whether Rembrandt, da Vinci or Van Gogh – everyone has style elements and patterns that the algorithm recognizes and learns itself,” he explained to “Bild”.
Here is another article which draws attention to the work's provenance and inscription on the painting which supposedly bears a great similarity to Van Gogh's handwriting.
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It seems highly unlikely we're in the position to place our trust in AI models to pass reliable judgements on questions of attributions. However, this won't stop some sections of the scientific community to keep developing methods to come up with the ultimate computer model which will decide who painted what. Afterall, artists are human beings whose individual complexities as deep as the ocean.
Likewise, I'd be interested to hear of an AI development program that has internalised and absorbed all of the complex scholarly literature and catalogue raisonnés on the likes of Van Gogh, for example. That would surely be an interesting exercise, alongside the visual analysis and pattern finding which most AI experts tend to focus on.
Sleeper Alert!
September 3 2020
Picture: Nye & Company
Posted by Adam Busiakiewicz:
News on Twitter (via. @auctionradar) that this painting 'Attributed to Godfried Schalcken' made $36,000 over a $1,500 estimate yesterday at Nye & Company. These very dark pictures are quite difficult to photograph successfully, but someone must have seen through the poor image supplied!
Christie's Refute Accusations
September 1 2020
Picture: Christie's
Posted by Adam Busiakiewicz:
The Telegraph have published an article relating to Christie's public rebuttal of what it calls false accusations from academics and protest movements as to the provenances of cultural artefacts passing through their hands.
The row began over accusations on social media in regards to the sale of a fifteenth century manuscript of the Qur'an which realised £7,016,250 (inc. fees) at auction earlier this June. Despite the work having a secure provenance back to the 1980s, the auction house has been accused of a lack of transparency.
In a statement the auction house said:
We are mindful that there are nuanced and complex debates around cultural property and wish to listen and engage appropriately. However, we are also concerned that there has been a rise in unfounded accusations, spread far and fast on social media, that question the legitimate and legal exchange of these objects and collecting areas.
As a marketplace we should all be concerned and ensure that the debate is balanced.
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As previous court cases have highlighted, providing evidence seems to be key here. Auction houses undergo a strict measure of checks as part of their legally required 'due diligence' to ensure no known stolen property passes through their hands. However, as every picture researcher will know all too well from practical experience, finding evidence for provenance can be a very fruitless and time consuming process.
Sleeper Alert!
August 28 2020
Picture: Chiswick Auctions
Posted by Adam Busiakiewicz:
This intriguing pastel, catalogued as 'Emilian School Mid 18th Century', made £22,000 (hammer price) over its £600 - £800 estimate yesterday at Chiswick Auctions.
Christie's Paris Sale
August 17 2020
Picture: Christie's
Posted by Adam Busiakiewicz:
Christie's have uploaded a pdf catalogue of their upcoming Old Master Paintings & Sculpture sale due to take place on 15th September 2020 in Paris.
Amongst the highlights is this fantastic double portrait given to the 'Circle of Sofonisba Anguissola' estimated at €25,000 - €35,000; a 'Studio of Rubens' study of a Child estimated at €60,000 - €80,000; and a Paul de Vos Bird Song Concert estimated at €250,000 - €350,000.
There are also some rather fine eighteenth century French paintings from the collection of Comte Robert de Moustrier.
Collection of the late John Schaeffer
August 12 2020
Picture: Leonard Joel Auctions
Posted by Adam Busiakiewicz:
Part of the collection of the late Australian art collector John Schaeffer AO (1941-2020) is coming up for sale this month. Schaeffer, who began life in Holland till he immigrated to Australia, became a passionate collector and enthusiast of nineteenth century art. He had supported part of the redecoration of Leighton House and loaned several pictures to the institution over the years.
His sale is filled with some interesting things, as one might expect. I found this copy of Frans Hal's Laughing Cavalier sans hat (pictured) particularly fun.
Reynolds Letter Up For Auction
August 4 2020
Picture: LiveAuctioneers
Posted by Adam Busiakiewicz:
A letter written by Sir Joshua Reynolds is coming up for auction in Boston later this month. Written to an unknown recipient, it describes there the whereabouts of his portrait of Nancy Reynolds and a Pieta by Palma Giovanne for which he asks 20 guineas. As William Boothby is described as the owner of the Nancy Reynolds picture, it may well related to this fine portrait that sold for £62,500 at Sotheby's in 2013.
The letter carries an estimate of $2,000 - $3,000. If it makes the top estimate, then this might be a third of the way towards purchasing a low-end Reynolds. Alternatively, much closer to purchasing this handsome studio piece which made $5,000 two years ago.
Mattia Preti back in Malta
August 3 2020
Picture: Times Malta
Posted by Adam Busiakiewicz:
The Maltese Government has acquired a painting that came up for sale in January at Sotheby's. Mattia Preti's Boethius Consoled by Philosophy was once part of the collection held in the Grand Master's Palace in Valetta. The above watercolour by Charles de Brocktorff shows the painting hanging in the rooms of the palace.
Times of Malta has published an article which describes the circumstances how the picture became known to the authorities there. The article claims that the picture 'mysteriously disappeared' from the palace in Valetta a century ago. In 2007 the art historian Theresa Vella began to look into what happened to the work for it then to reappear earlier this year at auction. The Sotheby's catalogue notes indicate it ended up in the collection of a historical society in Ohio before being sold at auction in 1992.
The picture was bought by the Maltese authorities for $1.46m (inc. fees) at the January Old Masters Sale in New York.
$2.5 bn Revenue - 25% Down on 2019 - at Sotheby's
August 3 2020
Picture: ArtMarketMonitor
Posted by Adam Busiakiewicz:
Art Market Monitor.com have published an interesting article exploring the recently published figures from the auction house Sotheby's.
Some of the headline figures:
- The sales volume to date (1st Jan - 31st July 2020) was $2.5 bn.
- The above figure is down 25% on 2019's figures of $3.3 bn. This fall is blamed on the covid crisis.
- Online sales increased by 540% in the first seven months of 2020 compared to the same period in 2019.
- E-Commerce Retail is up 48% in transaction volume on the same period in 2019.
- Average lot value was over $20,000 on live and digital platforms, a figure that is double the average of those in 2019.
- 'Millennial buyers' (under age of 40) now account for 30% of total clients, with 30% of clients being new buyers.
- Strong results from the Asia Market with results totalling $450 m.
Seacole Bust Battle
July 31 2020
Picture: Dominic Winter Auctions
Posted by Adam Busiakiewicz:
The above terracotta bust of Crimean War nurse and heroine Mary Seacole sold for £101,000 at auction yesterday. The piece, sculpted by Count Gleichen in 1871, smashed through its estimate of £700 - £1,000.
The sale attracted several comments on Twitter. This included dealer Philip Mould who explained that he was one of the underbidders for the artwork. It turns out that the bust was purchased by Billy Peterson, owner of the production company Racing Green Pictures who are currently making a film on Seacole's life. The company has said that it is hoping to include the artwork in the film.
Christie's Results
July 31 2020
Picture: Christie's
Posted by Adam Busiakiewicz:
The results are in for the recent Old Master Paintings sales, which also include sculpture and some decorative works of art it should be noted.
The 'Classic Art Evening Sale' realised £21,157,250 (inc. fees). The Old Master pictures contributed £9,849,000 to this figure which is roughly 46.55%.*
Their online Old Master Paintings & Sculpture sale realised £3,135,000 (inc. fees) with approximately 64.33% of lots sold.**
The 'Remastered: Contemporary Art and Old Masters' sale realised £2,549,500 (inc. fees). Old Master pictures contributed £1,255,000 which represents roughly 49.22% of the total.
The top lot old master, a portrait of a Lady by Rubens, came in just below the low estimate and made £3,965,250 (inc. fees). The real star of the sale was a fifteenth century Burgundian portrait of a man that made £1,631,250 (inc. fees) over an estimate of £400k - £600k. Considering the universal admiration it received on various commentaries I've read, it seemed obvious that it would smash past its temptingly low estimate. Although I didn't include it within the above tally, this very fine marble Death of Lucretia Attrb. to Antonio Lombardo smashed through its estimate to realise £3,724,750 over its £500k - £800k estimate.
The online 'day sale' also saw some rather impressive prices. The first lot, another Burgundian portrait, made £137,500 over its £5k - £8k estimate; the former Kimbolton Castle Charles I made a respectable £112,500 over its £50k - £80k estimate; A portrait of Henry Nassau-Breda made £81,250 over its £5k - £8k estimate; An early portrait of Henry VIII made £75,000 over its £25k - £35k estimate; and finally a curious Tuscan School oil on alabaster made £187,500 over its £7k - £10k estimate.
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It seems fair to suggest that Sotheby's managed to get ahead of Christie's in this season's Old Master Paintings duel. Obviously, it comes down to the fact that they seemingly managed to secure the most attractive paintings with estimates that proved attracted to bidders. Securing the Rembrandt Self Portrait, arguably the greatest marketing 'splash' of the season even if it didn't soar as people expected it to, must have helped.
These prices are still remarkable, especially considering the times in which we live. I am not by any means an economist, so I'll leave it to others to make comments on whether increasing numbers of investors are flocking to art for safety during these turbulent times.
I will watch with great anticipation to see what other masterpieces resurface in the coming months. Strong currents and tides usually deposit all sorts of curious treasures onto the shores. We'll wait and see if it has the same effect on the art market.
* Note - this sale contained no modern art, hence a like for like comparison with the 'Rembrandt to Richter' sale isn't entirely appropriate.
** - This is an approximate number as Christie's remove unsold lots from their online platform.
Sotheby's Results
July 30 2020
Picture: Sotheby's
Posted by Adam Busiakiewicz:
The results from the recent Sotheby's Old Master Painting sales are in.
The Evening 'Rembrandt to Richter' sale realised £149,730,290 (inc. fees). The Old Master pictures in the sale contributed £28,411,800 to this figure which is roughly 18.97%.
Their online Old Master Sale, which included drawings and watercolours, brought in a very respectable £4,669,000 (inc. fees) with 73.26% of lots sold.
The top lot old master of the evening, Rembrandt's self portrait, made £12,600,000 (hammer) which totalled £14,549,400 when fees are included. It was sold to a phone bidder with an expert from the company's New York office, prompting speculation that it was bought by an American collector.
The old master that created the greatest 'buz' in the sale was the incredible rare Paolo Uccello battle scene which made £2,415,000 over an estimate of £600k - £800k. Judging from the commentary on social media and elsewhere, its obvious that this beautiful picture was going to smash through its temptingly low estimate.
Equally dramatic was the news an hour before the sale started that several lots had been withdrawn. This included the Verrocchio drapery study and the Frans Hals portrait. A valuable Bacon was also withdrawn. We may only speculate as to why, but it's possible that there simply wasn't enough interest in the pictures.
Coming back to the online 'day-sale', some very impressive results were achieved. A Van Dyck of Saint Philip made £675,000 over an estimate of £120k - £180k; A still life by Balthasar van der Ast made £150,000 over an estimate of £20k - £30k; A Francois Boucher study doubled its high estimate to make £43,750; an a portrait of a servant of the Lawrence Family by John Taylor made a staggering £137,500 over a £1k - £1.5k estimate.
Several old master drawings too smashed through their estimates, which must have contributed greatly to the sale's success. This included a very lovely 'Attributed to Carel Fabritius' which made £150k over an estimate of £7k - £9k.
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So, did the 'boundary breaking' evening sale have the desired effect? Only the experts at Sotheby's will know for sure. It would be interesting to get an insiders perspective if any contemporary collectors decided to take a flutter on the Van Goyen or Bellotto.
During the sale auctioneer Oliver Barker, senior director of the Contemporary Art department, was keen to point the cross departmental phone bids. As many of you will know, top collectors are assigned dedicated experts and directors from departments to be their main point of contact for phone bidding. It seems that there was some overlap, but only the auction house will be able to see whether it made a difference.
Did the sale contribute to promoting Old Master Paintings on a wider scale? Perhaps so. Yet, I found it highly amusing to read several spectator comments lauding the fact that a Joan Miró had 'beaten' a Rembrandt by making c.£22m over £14m etc.
In this case yes, the market had judged this specific Rembrandt to be worth £8m or so less than a blue canvas with some white, red and yellow splodges on it. More widely speaking, are auctions the best way to judge the true value of artworks? I am certain that the readers of AHN will relish in Wilde's famous dig at cynics who 'know the price of everything but the value of nothing'.
Sleeper Alert!
July 29 2020
Picture: Skinner Inc
Posted by Adam Busiakiewicz:
The portrait above, catalogued as 'Dutch School, 17th century' made $40,625 over an estimate of $300 - $500 at Skinner Auction in Marlborough yesterday. The unknown gentleman reminded me a lot of John Donne, or even the 2nd Earl of Essex perhaps, with its glassy smoothness evoking the works of William Larkin (?).
There were several interesting paintings in the sale that smashed their estimates. What seems to have been a corridor portrait of Mary Tudor made $21,250 over an estimate of $200 - $400; and a rather pleasing copy of Henrietta Maria after Van Dyck made $15,000 over an estimate of $1,000 - $1,500.
Update - Art dealer Philip Mould has Tweeted this photograph of the painting mid-clean.
Picasso Old Master Portrait
July 28 2020
Picture: Artmarketmonitor
Posted by Adam Busiakiewicz:
Art Market Monitor has published a brief article bringing attention to this artwork by Picasso that made $728,000 (inc. fees) at Phillips this month. This linoleum cut print (yes a print) was inspired from a portrait by the sixteenth century German painter Lucas Cranach the younger (d.1586). The work, dating to 1958, is entitled Portrait de jeune fille, d’après Cranach le Jeune.
I wonder how many original portraits one could acquire at the upcoming old masters sales for $728,000? Let's hope interest in such pictures might spark investment in more ancient artworks too.
Andrew Graham Dixon at Sotheby's
July 28 2020
Video: Sotheby's
Posted by Adam Busiakiewicz:
Tonight's the night that Rembrandt's Self Portrait will be offered for sale at Sotheby's in London. Carrying an estimate of £12m - £16m, the eyes of the old master paintings world will surely be fixed on this event.
In the meantime, here is a guided tour of the upcoming sale with art historian Andrew Graham Dixon. Just goes to show that museums aren't the only arts venues where you can make a good video documentary.
Update - The Rembrandt made £12,600,000 (hammer price). More commentary to come after the sales...
Update 2 - Other curious news that several paintings have been withdrawn from the sale, including the Hals portrait and Verrocchio study on the old masters front.
How to Attract a New Generation to Old Masters
July 28 2020
Picture: Artsy.net
Posted by Adam Busiakiewicz:
The online platform Artsy have published this interesting article on how auction houses and dealers are trying to capture a new generation of collectors to old master paintings.
There are some encouraging observations contained within. This includes the suggestion that the spread of buyers is slowly increasing around the globe and that there are more collectors aged between 35-50 than there were a decade ago. The increasing use of social media is also highlighted, allowing sellers and buyers to connect in many more immediate ways than before. The breakdown of 'categories' also features, alongside the movement away from 'scholarly' collection building.
Hans von Aachen Drawing Smashes Estimate
July 27 2020
Picture: Zisska & Lacher
Posted by Adam Busiakiewicz:
News via Twitter (@auctionradar) last week that the above drawing by Hans von Aachen made €150,000 over an estimate of €2,000 at Zisska & Lacher earlier this month. Obviously, the estimate was far too low.
Some have already spotted that the work relates to a finished painting entitled Self Portrait with Donna Venusta that was with Galerie Canesso at TEFAF this year.
Michael Jaffé Paintings at Christie's
July 23 2020
Picture: Christie's
Posted by Adam Busiakiewicz:
Christie's will be auctioning off several paintings that belonged to the late Michael Jaffé (1923-1997) later this month. Jaffé was one of the great scholars on the Flemish School. His published works on artists such as Rubens and Van Dyck are widely used by art historians to this day.
Two panels which are of interest are the above, which are catalogued as 'Circle of Van Dyck' (LEFT) and 'Circle of Rubens' (RIGHT) respectively. You'll be able to see from the catalogue notes that the attribution of these two sketches has changed a lot over the years. In regards to the 'Rubens' panel, it seems that Jaffé had actually published the picture as a Rubens in full in 1989. The 'Van Dyck' sketch was exhibited at Agnew's in 1968 and given to the artist in full. It seems that scholarship has since downgraded both of these works.
Obviously, we cannot expect scholars to be infallible with their judgements. Attributions have the ability to change over time and it is sometimes difficult to be entirely objective about a picture that you're attached to. It would be interesting to read exactly what he thought about the quality of the paintings. I'm sure a description is given in his 1989 publication (which I don't have access to at the moment).
Another of his paintings in the sale is this very fine Guercino of Saint Alexius, which carries an estimate of £50k - £80k.
Rohatyn Canaletto Preview
July 22 2020
Picture: Sotheby's
Posted by Adam Busiakiewicz:
This very fine Canaletto of the Rialto Bridge in Venice is currently on view at Sotheby's in London until 28th July. The painting will be offered up for sale in New York later this autumn alongside many other works from the collection of Ambassador and Mrs Felix Rohatyn. The artwork will carry an estimate of $3m - $5m.
Other artists represented in the sale include Bernardo Bellotto, Francois Boucher, Jean Antoine Watteau, Marco Ricci, Jean-Baptiste Greuze and many others.
Sleeper Alert!
July 22 2020
Picture: Sworders
Posted by Adam Busiakiewicz:
News on Twitter (via. @Mcewangallery) that two drawings of soldiers 'Attributed to Jacob de Gheyn the Younger' just realised £125,000 over an estimate of £200 - £300 at Sworders in Essex.
Update - It's been pointed out on Twitter (via. @RembrandtsRoom) that the works on paper are preparatory drawings for etchings in a weapons instruction manual produced by De Gheyn for Prince Maurits in 1607.
Despite their significance, this is still a princely sum!
