This November saw an exciting auction season in New York, feeling resilient and strong despite the perceived dip in the art market earlier this year. Cassi Young, Global Fine Art Director at Art Works, shares her top three takeaways from the auction season, from record breaking surrealist works to Maurizio Cattelan’s iconic conceptual art piece.
Incredible Collections on Offer
Across the board, there were a number of significant collections with works by prominent artists. Sotheby’s presented Art in Transit: 31 Keith Haring Subway Drawings from the Collection of Larry Warsh at their Contemporary Day Sale. The works brought in a total of $9.2 million, exceeding the auction estimate of $6.9 million. Another highlight of the Sotheby’s Contemporary Day Sale was the collection of Roy and Dorothy Lichtenstein, which significantly exceeded estimates. In addition, Christie’s presented Mica Ertegun’s collection featuring a number of significant works including the record breaking L’empire des lumieres (1954) by Rene Magritte. Finally, the late entrepreneur Sydell Miller’s collection took to the floor at Sotheby’s as part of the modern evening sales; the collection featured a painting from Claude Monet’s Nymphéas series alongside works by artists such as Joan Miró, Pablo Picasso, and Mark Rothko.
Keith Haring (b. 1958), Untitled (Still Alive in ’85), 1985; Untitled (Mermaid – Angel, Dolphins, Angels, Barking Dogs), ca. 1981–83; Untitled (Boombox Head), 1984
Record Breaking Sale Achieved at Christie’s
Competitive bidding was felt across the auction houses, that resulted in a major auction record being set. During the Christie’s 20th Century Evening Sale, Rene Magritte’s L’Empire des lumières from 1954 sold for $121.2 million, including buyer’s premium. The Belgian artist’s surrealist painting is one of 27 versions of L’empire des lumières, painted between the 1940s and 1960s, and has become the most expensive surrealist work ever sold. Furthermore, this record highlights the surge in popularity of surrealist artists this year, particularly women artists. The next top sales achieved were works by Leonora Carrington, the surrealist painter and novelist. At the Sotheby’s Modern Evening Auction, La Grande Dame (The Cat Woman) (1951) was sold for $11,380,000 with premium, surpassing its estimate of $5,000,000 – 7,000,000. Following this Carrington’s Temple of the Word (1954) sold for $4,560,000 with premium, surpassing the estimate of $3,000,000 - 5,000,000. Strong results were also seen at the Sotheby’s Modern Evening Auction for Remedios Varo and Leonor Fini. Varo’s Los caminos tortuosos (1958) sold for above its estimate at $2,040,000 and Fini’s Les Stylites ( Les Stylists) (1976) sold for $720,000, surpassing its estimate of $400,000 – 600,000. This surge in popularity of surrealist works could partly be attributed to the centenary of the Surrealist Manifesto this year, penned by poet André Breton. Discussing the philosophy behind surrealism, Breton advocated for art that questioned logic and embraced the irrational, delving into the “true reality” that lay within both states of dream and reality.
René Magritte (b. 1898), L'empire des lumières, 1954
Comedian, Maurizio Cattelan, 2019
One piece stole the show this auction season, garnering much controversy and media attention. Comedian (2019) by Maurizio Cattelan was sold by Sotheby’s after heavy bidding, to Justin Sun for $ 6.2 million including fees. The iconic piece, which was first shown at Miami Basel in 2019, has gained attention for its satirical and acute commentary on the art market. While deemed gimmicky by some, the concept and theme of the work can be derived from significant movements and artists of the 20th Century. Parallels can be drawn between Comedian (2019) and the Dadaist movement, formed during the First World War with the aim of subverting traditional values in art. In addition, the influence of Marcel Duchamp can be seen, particularly from his readymade sculptures such as Fountain (1917). Duchamp presented the objects themselves as art, disrupting the traditional perceptions of the role of the artist as creator. He argued that “an ordinary object [could be] elevated to the dignity of a work of art by the mere choice of an artist.”
Maurizio Cattelan (b. 1960), Comedian, 2019
Jordan Tan holds an MA in History of Art from the prestigious Courtauld Institute of Art. With a passion for fine art and the art market, Jordan plays a key role at Art Works by researching and interpreting trends across the primary and secondary markets, delivering valuable insights and business intelligence for the fine art department.
