General
Marion Maneker0April 20, 2012

Christie’s Drops a Dime on Restituted Old Master Painting, Gets Sale

It’s not uncommon to see an Old Master work sold at an auction house to satisfy a restitution claim. But it’s not every day than an auction house employee spots a disputed work on loan to a US museum and calls the family to alert them to the work’s presence in the US. Christie’s will now sell Girolamo Romano’s “Christ Carrying the Cross Dragged by a Rogue.”

The work is believed to have been among more than 70 paintings from Gentili di Giuseppe’s collection auctioned by the French Vichy government in 1941, court records indicate. Members of the family who fled the occupation have said the sale was illegal and had sought the painting’s return.

Court records indicate that some of the paintings auctioned off were allegedly bought by “straw” purchasers on behalf of Nazi officials.

The famed Pinacoteca di Brera museum in Milan, which is owned by the Italian government, acquired the Romanino painting in 1998 but refused to return it to the family.

Salem said Wednesday that a Christie’s auction house employee who visited the Milan museum last year saw the painting had been lent out and called him. That triggered an investigation that involved Interpol, the U.S. Immigration and Customs Enforcement’s Homeland Security Investigations and the U.S. Attorney’s office.

US returns 16th century painting to heirs of Jewish man who died before Nazis stormed France (Washington Post/AP)

Artists
Marion Maneker0April 16, 2012

The 18th Century’s Transvestite Spy Rediscovered

Philip Mould relishes his reputation as an art sleuth, uncovering lost works lying right before the eyes of others. Here’s his latest triumph:

The earliest surviving formal portrait of a male transvestite has been discovered by Philip Mould in a New York saleroom.  On first glance the historic portrait featuring a rather masculine looking woman piqued the renowned art sleuth’s interest.   A gentle clean and further painstaking research uncovered a rich and colourful history.

“The 18th century portrait appeared to be of a somewhat manly middle-aged lady. Research before the sale suggested otherwise, and upon cleaning, the face revealed a distinctive 5 0’clock shadow. This fuelled further investigation that resulted in the astonishing discovery that the portrait is of the legendary spy, diplomat and transvestite, Chevalier D’Eon that has been lost since 1926.  The painting is now “under serious consideration” by the National Portrait Gallery, London.  Should it be purchased will represent the gallery’s first oil painting of a cross-dresser in guise.

“The story of D’Éon is one of the more remarkable biographies of the 18th century. The recent rediscovery of this lost and only oil portrait should dramatically reawaken his  historical significance,” adds Philip Mould.

The picture will be on display at Philip Mould & Company, 29 Dover St from Monday 16th – Friday 20th April 2012 (excluding Wednesday morning). [Read more...]

Museums
Marion Maneker0March 15, 2012

Getty Buys a Little-Seen & Sometimes-Doubted Watteau

The Getty sent out this press release today:

The J. Paul Getty Museum announced today the acquisition of The Italian Comedians (ca. 1720) by Jean-Antoine Watteau (French, 1684–1721). The large oil painting (50 7/8” x 36 ¾“) was painted at the height of Watteau’s fame, shortly before his early death at age 36.

“This major, little-known painting is extraordinary. It shows Watteau at the height of his creative genius,” said James Cuno, President and CEO of the J. Paul Getty Trust. “Not only will it enhance our paintings collection, but it complements the Museum’s collection of French decorative arts, which is amongst the finest in the world.”

The Italian Comedians joins 18th century French paintings already in the Getty Museum’s collection by artists such as Nicolas Lancret (1690 –1743), Jean-Honoré Fragonard (1732–1806), Jean-Baptiste-Siméon Chardin (1699–1779), and Claude-Joseph Vernet (1714–1789), all of which have been acquired in the last decade.

The Italian Comedians has been in private collections since the 18th century and has not been publicly exhibited since 1929. Over the last three centuries, its attribution has fluctuated. Until the late 19th century, the painting was attributed to Watteau. It was then assigned to Watteau’s pupil Jean-Baptiste Pater and subsequently to an anonymous painter in the circle of Watteau. Although the attribution has changed over time, the artwork has always been praised for its brilliant composition and emotional power and associated with Watteau’s psychologically profound depictions of the Italian Comedians.

“Although not all scholars agree about the attribution, they are all in accord that the canvas is brilliantly conceived, emotionally compelling, beautifully painted, and by an artist at the top of his form,” adds Schaefer. “We believe that the only artist able to rise to this level of accomplishment was Antoine Watteau, and that he executed the entire painting.”

No price was given for the acquisition. But the Los Angeles Times’s Mike Boehm did a little background work:

“The Italian Comedians” was last displayed publicly at a Paris museum in 1929. It resurfaced last April, in a major sale by heirs of Paul-Louis Weiller. [. . .] Experts for the auction house Gros & Delettrez billed “The Italian Comedians” as a work from around 1720 by the “French school … circle of Antoine Watteau.” Reporting on the auction last April, the International Herald Tribune said it had sold for 1.56 million euros — about $2 million — a price 20 times the auctioneer’s top estimate.

“La Surprise,” a Watteau painting of lovers embracing while a musician prepares to serenade them, fetched $24.4 million at a London auction in 2008, setting a record for an 18th century French artist.

Getty Buys What It Believes to Be a Watteau Painting (Los Angeles Times)

Art Fairs
Marion Maneker1March 14, 2012

When $40m Is Not a Lot of Money

The TEFAF wind up continues with this preview story in The National that points to dealer Johnny van Haeften showing a “newly cleaned portrait of a woman at a clavichord by Gerrit Dou, which insiders say could bring more than $5m.” van Haften bought the picture in January for $3.3m which is a quick turnaround and profit if the dealer gets his price.

Meanwhile, Richard Feigen continues to feel the Contemporary art market is out of register to the Old Master market.  But it is hard not to hear the hyperbole when he suggests that $4om is not a lot of money:

“There’s a lot of money out there. As people become uncertain about the currency markets or the securities markets, more and more money seems to be going into art as a haven,” said the New York dealer Richard Feigen, who will be selling a biblical scene painted by Anthony van Dyck for $3.5m.

“I don’t consider contemporary art, where you’ve had these wild prices, a very sound place to put it. What we call a lot of money in the Old Master market— say the $40m that the Getty Museum paid recently for a Turner – in the contemporary or modern market, that isn’t a lot of money.”

Old Masters at European Fine Art Fair draw beleagured investors (The National)

General
Marion Maneker0March 05, 2012

Christie’s to Sell Rembrandt in July

Christie’s announced this morning the sale and touring exhibition of a collection of Old Master works held by Pieter and Olga Dreesmann:

Recognising the strength and international nature of the Old Master market and the wide-reaching appeal of works of this outstanding quality, the Collection, led by the Rembrandt, will tour the world in advance of the sale, travelling from Doha, Moscow and New York to Hong Kong and Amsterdam before the auction in London.

Rembrandt Harmensz van Rijn (1606-1669) is recognised to be one of the greatest and most influential artists in European history. This remarkable panel by the artist, A Bust of a Man in a Gorget and Cap, dated to 1626/27, captivates the viewer with an intensity that far exceeds its neat dimensions; it measures 15⅝ x 11⅝ inches (39.8 x 29.4cm) (estimate: £8 million -12 million). The work presents a masterful treatment of light to create drama, achieved in part by Rembrandt’s use of chiaroscuro, pointing to the influence of Caravaggio, to whom he is clearly indebted in terms of style in this work. Beautifully preserved and richly painted, the artist employs a subtle range of rich colours; the sharp light falling on the steel of the gorget imbues the subject with a startling reality and presence. This work was exhibited in the Rembrandt/Caravaggio exhibition staged by The Rijksmuseum, Amsterdam, in 2006.

Christie’s has an unrivalled track record with Rembrandt, having sold the two most valuable works to have been offered at auction: Man with Arms Akimbo, in 2009 (£20,201,250/$33,210,855) and Portrait of an Aeltje Uylenburgh from the Collection of Baroness Batsheva de Rothschild in 2000 (£19,803,750 /$28,675,830).

July – The Pieter and Olga Dreesmann Collection of Dutch Old Master Paintings

Auction Results
Howard L. Rehs0January 29, 2012

A Picky Old Master Market

Another report from our friend, Howard Rehs, art dealer and market observer:

January is a fairly quiet month for the art auction market. Much of the action can be found in the Fine Art exhibitions taking place around the country. We spent that latter part of January in Los Angeles at the Los Angeles Fine Art Show where over 100 dealers came to exhibit their wares. I can tell you that the crowds were pretty good … thousands upon thousands of art lovers came; and many left with a new work to add to their collection. In addition, from the dealers I spoke with, there was a resurgence of activity in the lower price levels — a segment of the market that has been very quiet over the past few years. Buyers and collectors had been focusing on the ‘blue chip’ names and leaving the ‘new chips’ on the sidelines. This resurgence of activity in the ‘new chip’ market is a very good sign since I believe that once the lower/entry levels of the art market become robust, we will see far more strength in the overall market and higher prices in all schools and levels.

Now I do not want you to think that there was NO activity in the public forums, but much of it was in areas of the art and antiques market I do not follow; however, during the last week of January the New York salerooms offered their Old Master painting sales and the results showed that the market for Old Masters is still a bit picky.

First up were two sales at Christie’s: Old Master Paintings Part I and The Art of France. In the Part I sale the top position was taken by Tiepolo’s The Arrival of Henry III… which made $5.9M (est. $4-$6M), in second place we found Dou’s A Young Lade Playing the Clavichord at $3.33M (est. $1-$2M) and in third was Van Dyck’s A Rearing Stallion at $2.54M (est. $2.5-$3.5M). Now from just those first three results you might say … not too bad! Two out of three met or beat their estimates … but hang on. Of the top three works with the highest estimates only one sold, the Tiepolo; the Memling ($6-$8M) and the Arcimboldo ($3-$5M) passed. And if we look at the top ten works with the highest estimates, only five sold. Since I am not an Old Master dealer, and I was unable to view the sale since I was away during the viewing, I really cannot give you my personal opinion as to why the big lots had trouble; but what is obvious is that really good Old Master paintings are getting harder and harder to find and just because a work carries a very high estimate, does not mean it is worth it.

When this session ended, the results were very telling. Of the 59 works offered 42 sold (71% sell-through rate) and the total take was $34.3M, which was well short of their expected $38.8M (low end of the presale estimate range — also keep in mind, that the final total includes the buyer’s premium while the presale estimate does not). In addition, the total take for the top 5 sold lots was $16.3M, almost half of the total sale’s gross. Oh, here are two additional (interesting) results … this sale included a painting recently attributed to Frans Hals that belonged to Elizabeth Taylor. The portrait was estimated at $700-$1M and sold for $2.1M … the question is, was the high price a result of the painting’s quality, its new attribution or its previous celebrity owner? And, a portrait by Thomas de Keyser blew past its $300-$500K estimate to sell for $1.5M … the buyer, the National Gallery of Art in Washington.

Then we had The Art of France and here the top slot was captured by Fragonard whose Le Jour brought $3.67M (est. $2-$3M). Coming in a distant second was Watteau’s The Union of Comedy and Music at $903K (est. $800-$1.2M) and in third was a Boilly still life at $843K (est. $150-$250K). In fact, all of the top 10 lots either met, or beat, their estimates … sounds pretty good so far. Well, hold on for the final numbers … of the 44 works offered, only 25 sold (57% sell-through rate) and the total take was $10M and they were expecting at least $14.9M. In addition, the top 10 lots brought in $8.44M, almost 85% of the sales total. [Read more...]

Auction Results
Marion Maneker0January 26, 2012

Sotheby’s Old Master NY = $67.7m

Auction Results
Marion Maneker0January 25, 2012

Christie’s NY Old Master = $34.34m

Museums
Marion Maneker0January 13, 2012

Patient Louvre Secures €7.8m Work After 12 Year Negotiation

The Louvre just spent €7.8m to buy a 14th Century work by Jean Malouel entitled “Christ of Pity carried by St John”, according to Le Figaro. Jean Malouel, born in Nijmegen (now the Netherlands) before 1370 and died in Dijon in 1415, was the official painter of the Duke of Burgundy Philippe the Bold in 1400.

“Christ pity supported by St. John” was acquired after twelve years of discussions with a dealer in the central region, said Vincent Pomarède, director of paintings at the Louvre . For him, this is “the major acquisition of the last fifty years for the museum,” in painting. “It’s really the original nucleus of French painting,” he said. 

The work had been bought from a local priest in 1985 when it was covered with dirt. The seller of the work is paying the town of Vic-le-Comte where the work was found€2.3m to give up its claims to the work.

The Louvre is funding the acquisition through a donor who will get a tax benefit.

Le Louvre s’offre un chef d’œuvre (Figaro)

Museums
Marion Maneker0January 01, 2012

Leonardo Cleaning Sparks Resignations

The Guardian records the resignations of two leading French authorities on painting and restoration from the advisory board of the Louvre. The two renegades are protesting what they see as the over-cleaning of Leonardo’s The Virgin and Child with St. Anne (above):

Two of France’s top art experts have voiced their protest over the cleaning of The Virgin and Child with Saint Anne – a jewel of western art – by resigning from the Paris museum’s advisory committee responsible for its “restoration”, the Guardian has learned.

Such was their concern for the 500-year-old painting that Ségolène Bergeon Langle and Jean-Pierre Cuzin – eminent former specialists in conservation and painting respectively at the Louvre – could no longer associate themselves with its treatment.

Bergeon Langle is regarded as France’s national authority on the art and the science of restoring paintings. She was director of conservation for all of France’s national museums. [...]

a senior museum source said the experts believed the restoration had gone too far, and that steps had gone ahead without adequate tests. The restoration has divided the committee between those who believe the painting is now too bright and those who regard the cleaning as moderate. There were also disputes over whether an area dismissed as removable repaint was in fact a glaze applied by Leonardo.

Louvre’s Leonardo Was Overcleaned, Say Art Experts (Guardian)

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