SG MAG AUG 2019 MAIN_1

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Evolution of the record auction price for a living artist In the absence of major works by Jean-Michel Basquiat, Andy Warhol or Jackson Pollock in H1 2019, the American market turned its attention to a handful of other major signatures in its Art History… starting with Robert RAUSCHENBERG. Following his death in 2008 and his MoMA retrospective in 2017, the US market was eagerly awaiting a major work. The 243.8 x 183.8 cm oil-and-silkscreen-on-canvas, Buffalo II (1964) appears to capture the political and social zeitgeist of America’s Kennedy years and it largely exceeded the estimates at Christie’s on 15 May 2019, fetching $88.8 million. A new record was also hammered for the painter and poet Marsden HARTLEY, whose influence on American painting is undeniable. His painting Abstraction (1912/13) – auctioned for the third time in 30 years – has shown a steady value increase and is now clearly considered a ‘safe investment’ in the US art market: • $ 1,155,000 – 3 December 1992, Sotheby’s New York • $ 2,205,750 – 30 November, 2000, Sotheby’s New York • $ 6,744,500 – 22 May 2019, Christie’s New York Still in the United States… a giant Spider (1997) by Louise Bourgeois sold for $32 million, generating art history’s second best-ever auction result for a female artist behind Georgia O’Keeffe’s Jimson Weed/White Flower No. 1 (1932) which fetched $44.4 million in November 2014. The market for American abstraction continued to open up for the country’s female artists after the records in May 2018 for Joan Mitchell ($16.6 million) and Helen Frankenthaler ($3 million). This year, the market pursued its recognition of Lee KRASNER (Jackson Pollock’s partner) hammering a record of $11.7 million on 16 May at Sothe- 12
Top 10 Auction Records for Women Artists in H1 2019 Artist Work Price Sale 1 Louise BOURGEOIS (1911- 2010) Spider (1997) $32,055,000 15 May, Christie’s New York 2 Lee KRASNER (1908-1984) The Eye Is the First Circle $11,654,000 16 May, Sotheby’s New York 3 Yayoi KUSAMA (1929) Interminable Net #4 (1959) $7,953,200 01 Apr., Sotheby’s Hong Kong 4 Elisabeth VIGÉE-LEBRUN (1755-1842) Muhammad Dervish Khan (1788) $7,185,900 30 Jan., Sotheby’s New York 5 Julie MEHRETU (1970) Black Ground (Deep Light) (2006) $5,631,700 1 Apr., Sotheby’s Hong Kong 6 Carmen HERRERA (1915) Blanco Y Verde (1966/67) $2,900,000 1 March, Sotheby’s New York 7 MI Qiaoming (1986) Buddha In The Dream (2018) $1,773,500 15 June, Hanhai Beijing 8 Monir FARMANFARMAIAN (1924-2019) 9 Angelica KAUFFMAN (1741- 1807) Untitled (2018) $1,082,900 11 Jan., Auction Tehran Portrait of Three Children $915,000 30 Jan., Sotheby’s New York 10 LALAN (1921-1995) La lune est voilée (1974) $863,000 31 March, Sotheby’s Hong Kong © Artprice.com The auction records for women artists this year reveal a greater level of diversity than those for men, with half being hammered for non-European/American artists. Julie Mehretu, who today lives and works in New York, but was born in Addis Ababa, Ethiopia. Although her work has never been shown in Asia, she generated a superb new record in Hong Kong, a few months ahead of her first major retrospective, scheduled for summer 2020 at the Whitney Museum in New York. Leng Jun – View of the world No.3 ( 世纪纪景之三 ) (1995) © Leng Jun $6,330,000 – 3 June 2019, China Guardian Beijing $4,054,000 – 22 December 2016, Poly 13
Page 2 and 3: Copyright. All material appearing i
Page 4 and 5: The art market is a multi-billion d
Page 6 and 7: • Turnover in the USA (-20%), Chi
Page 8 and 9: No of lots sold per price range H1
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Page 14 and 15: Soft Power: the contraction benefit
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Page 18 and 19: Auction prices of Yayoi Kusama’s
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Page 24 and 25: The biopic about the modern cosmic
Page 26 and 27: A POLICE REPORT WAS FILED EARLY MAY
Page 28 and 29: THIS SIGNATURE PAINTING, THE LARGES
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Page 48 and 49: Welcome to the summer issue of Art
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SG MAG AUG 2019 MAIN_1

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