Via Mutual Art:
Following our highly succesful 2010 auction summary, MutualArt.com's auction summary is back with insightful information reviewing the first quarter of 2011.
The summary explores lots and artists who were in the spotlight, whether for the right or wrong reasons. Which artist's work generated the most revenue in the first quarter of 2011? Which auction house has the most lots in the season's top sellers list and how did Sotheby's and Christie's fare compared with other leading auction houses? Which lot was most disappointing? Which lots sold at the highest margins above their high estimates? The answers lie ahead.
(Slideshow: Top Sellers)
Mutual Art's Top Paintings At Auction, First Quarter 2011
Top 20 Best Selling Artists *
1) Pablo Picasso sold 262 lots out of 315 offered for a total of $78,002,208 (over $297,000 per lot)
2)Andy Warhol sold 147 lots out of 193 for a total of $40,360,332 (over $274,000 per lot)
3)Francis Bacon sold 18 lots out of 18 for a total of $37,420,441 (over $2 million per lot)
4)Salvador Dalí sold 97 lots out of 121 for a total of$33,457,543 (over $344,000 per lot)
5)Marc Chagall sold 88 lots out of 104 for a total of $26,919,761 (over $305,000 per lot)
6)Gerhard Richter sold 17 lots out of 19 for a total of $25,758,045 (over $1.5 million per lot)
7)René Magritte sold 18 lots out of 22 for a total of $20,203,587 (over $1.1 million per lot)
8)Titian sold 4 lots out of 5 for a total of $16,889,219 (over $4.2 million per lot)
9)Irma Stern sold 19 lots out of 37 for a total of $13,708,909 (over $721,000 per lot)
10)Pierre Bonnard sold 17 lots out of 25 for a total of $13,672,170 (over $804,000 per lot)
12)Lucio Fontana sold of 13 lots out of 17 for a total of $13,174,103 (over $1 million per lot)
13)Julio González sold 14 lots out of 19 for a total of $12,997,763 (over $928,000 per lot)
14)Alberto Giacometti sold 14 lots out of 20 for a total of $11,964,373 (over $854,000 per lot)
15)Claude Monet sold 4 lots out of 4 for a total of $11,541,226 (over $2.8 million per lot)
16)Joan Miró sold 85 lots out of 111 for a total of$11,078,216 (over $130,000 per lot)
17)Edgar Degas sold 17 lots out of 21 for a total of $10,881,852 (over $640,000 per lot)
18)Claude-Joseph Vernet sold 10 lots out of 13 for a total of $10,222,405 (over $1 million per lot)
19)André Derain sold 15 lots out of 21 for a total of $9,548,678 (over $636,000 per lot)
20)Jean Michel Basquiat sold 8 lots out of 10 for a total of $9,406,554 (over $1.1 million per lot)
The top 20 selling artists' 2010 total: $407,207,385
* As of March 31, 2011, includes results from all major and mid-level auction houses
Q1 Turnover Comparison - Leading Auction Houses
The graph shows that Sotheby's, Phillips de Pury and Bonhams all enjoyed steady increases between 2009 and 2011 (in fine & visual art auctions). Christie's, however, failed to match its steller first quarter of 2009. During that quarter, Christie's three-day sale of the Collection of Yves Saint Laurent and Pierre Bergé at the Grand Palais in Paris, realized €342.5 million ($443.1 million), setting a world record for the most valuable private collection sold at auction, which included Henri Matisse's Les couscous, tapis bleu et rose, which fetched $46.5 million.
The total turnover of sales of the top 20 auction houses shows a significant 24% rise between the first quarter of 2010 and the first quarter of 2011. It also illustrates the art market dominance of Sotheby's and Christie's compared to the other top 18 auction houses combined. However, even as the turnover of Sotheby's and Christie's increased by 21% between Q1 of 2010 and Q1 of 2011, the total sales of the other top 18 venues jumped by 74%.
Top 10 Most Surprising Lots
1)Sans Titre, Wols. Against an estimate of $161,000-241,000, it sold for $4.2 million - 1,644% above the high estimate (Sotheby's London, Feb. 10)
2)Mother and Children, Hendra Gunawan. Against an estimate of $41,000-69,000, it sold for $880,000 - 1,165% above the high estimate (Christie's Amsterdam, March 8)
3)The Arrest of Samson, Anthony van Dyck. Against an estimate of $9,600-12,400, it sold for $135,000 - 987% above the high estimate (Dorotheum, Feb. 24)
4)Snake charmer, Hendra Gunawan. Against an estimate of $41,000-69,000, it sold for $725,000 - 942% above the high estimate (Christie's Amsterdam, March 8)
5) Mao, Andy Warhol. Against an estimate of $20,000-30,000, it sold for $302,000 - 908% above the high estimate (Christie's New York, Jan. 11)
6)A portrait of Sir Robert Howard, Anthony van Dyck. Against an estimate of $20,000-30,000, it sold for $290,000 - 868% above the high estimate (Christie's New York, Jan. 26)
7)Samuel Barrett, John Singleton Copley. Againat an estimate of $20,000-40,000, it sold for $386,000 - 866% above the high estimate (Christie's New York, Jan. 21)
8)The Guitar Player, William Roberts. Against an estimate of $11,000-16,000, it sold for $151,000 - 835% above the high estimate (Bonhams New Bond Street, March 9)
9)Portrait of a Lady, Possibly a Member of the Brandt Family, Peter Paul Rubens. Against an estimate of $12,000-18,000, it sold for $164,000 - 813% above the high estimate (Sotheby's New York, Jan. 27)
10)Portrait of a Man, Pavel Tchelitchew. Against an estimate of $10,000-15,000 it sold for $122,000 - 1,780% above the high estimate (Sotheby's New York, March 16)
Top 10 Most Disappointing Lots
1) Nature morte à "L'Espérance", Paul Gauguin. Unsold. Estimated to sell for $11.2-16 million (Christie's London, Feb. 9)
2) Grand Buste De Diego Avec Bras, Alberto Giacometti. Unsold. Estimated to sell for $5.6-8 million (Sotheby's London, Feb. 8)
3)Las Llamas, llaman, Salvador Dalí. Unsold. Estimated to sell for $4.8-6.4 million (Christie's London, Feb. 9)
4)Une femme devant le paysage, Fernand Léger. Sold for $2.6 million against a high estimate of $4.5 million (Christie's London, Feb. 9)
5)La Lecture, Deux Femmes Aux Corsages Rouge Et Rose, Auguste Renoir. Unsold. Estimated to sell for $3.2-4.8 million (Sotheby's London, Feb. 8)
6) Portrait of a lady, three-quarter length, in a green velvet and orange dress and a pearl-embroidered black hat, Lucas Cranach the Younger. Unsold. Estimated to sell for $3-4 million (Sotheby's New York, Jan. 27)
7)View of Mestre, Canaletto. Unsold. Estimated to sell for $2.5-3.5 million (Christie's New York, Jan. 26)
8) No Title, Cady Noland. Sold for $230,500 against an estimate of $400,000-600,000 (Phillips de Pury & Company, Upper East Side, March 4)
9) Les Mariés Et Le Bouquet De Fleurs Rouges, Marc Chagall. Unsold. Estimated to sell for $2-2.9 million (Sotheby's London, Feb. 8)
10)The Zulu Woman, Irma Stern. Unsold. Estimated to sell for$2.2-2.8 million (Stephan Welz & Co., Cape Town, Feb. 22)
Compiled by MutualArt.com staff; prices converted to USD when applicable; some prices have been rounded-off.