Sunday, 15 May 2016

Christie’s sale of Impressionist and Modern Art deemed a disaster

Claude Monet’s 1919 ‘Le Bassin aux Nymphéas’ (the Water Lily Pond)
Claude Monet’s 1919 painting of a water lily pond was sold to London art dealer who only had to lob a single bid to win it for $27 million.

Christie’s sale did edge past its $134.3 million low expectations, but seven pieces failed to sell and five of the top 10 priciest works only met their asking prices.
Monet’s “At Little Gennevilliers,” sold following a single bid from an Asian collector for $11.4 million, below its $12 million low estimate.

Pablo Picasso's 1969 “Seated Man” sold for its low estimate of $8 million with fees.
Picasso’s “Weeping Woman” print from 1937 sold for a “bargain” at $1.7 million. Christie’s expected the “Woman” to sell for at least $1.8 million.

One of the few highlights was Frida Kahlo’s “Two Nudes in the Forest (The Land Itself)”. It sold to a telephone bidder for $8 million, establishing a new auction high for the artist and for any Latin American artist.