Sale of the year…

[02/11/2006]

 

The impressionist and modern art sales are the centrepiece of the New York auction season. As ever, Sotheby’s and Christie’s catalogues include some exceptional pieces.

This year, Sotheby’s is offering a major still life by Paul CÉZANNE, Nature morte aux fruits et pot de gingembre. It was painted around 1895, on the cusp of the modern era, and was bought for GBP 11 million (USD 16.4 million) in June 2000 at Christie’s London. This year, it goes back under the hammer on 7 November with an optimistic price estimate of USD 28-35 million.

The next day, Christie’s counterattacks by putting up a stunning selection of works from the Viennese Secession. The star piece is a Gustav KLIMT portrait of Adele Bloch-Bauer, from the Ferdinand and Adele Bloch-Bauer collection – Klimt’s second painting of the young woman, made in 1912 and estimated at USD 40-60 million. Portrait of Adele Bloch-Bauer I (1907) has already been bought once in 2006, for USD 135 million by Ronald S. Lauder, making it the most expensive work ever to be sold on the primary market.Three other major Klimt works, all landscapes, are up for sale the same evening: Houses in Unterach on Lake Atter (Häuser in Unterach am Attersee), Apple Tree I (Apfelbaum I) and Birch Forest (Buchenwald).Besides these four Klimts, Christie’s is also offering a number of lots by Egon SCHIELE. The most important is a canvas from 1915 painted on both sides: Einzelne Häuser (Häuser mit Bergen) – Monk I (fragment, verso), estimated at USD 20-30 million. Schiele enthusiasts can also find two drawings (in watercolour and gouache): Zwei Mädchen auf einer Fransendecke (recto); Akt eines stehenden Knaben, Kniestück (verso) (estimated at USD 5-7 million) and Kniender Halbakt nach links gebeugt (estimated at USD 6-8 million).

But, once again, it is Pablo PICASSO that is expected to command the top price. Christie’s is selling Portrait de Angel Fernández de Soto, painted in 1903 at the height of his blue period. The picture was acquired in 1995 for USD 26.5 million. This week it is estimated at USD 40-60 million. According to Artprice Indicator, Artprice’s price update tool, the work could today be worth USD 70-75 million.

Overall, Christie’s is putting up 85 lots on 8 November. With estimates on this scale, we could well be looking at a new all-time record for turnover at a single auction.