New York's November Auctions Target $2 Billion With Collection-Centric Sales

(MENAFN- USA Art News) New York's November auction week is projected to generate approximately $2 billion from art sales, with major auction houses Sotheby's, Christie's, and Phillips holding seven evening sales expected to collectively bring in over $1.7 billion. As of publication time, approximately 64.2 percent of this value is backed by guarantees.

Sotheby's leads with an estimated range of $975.3 million to $1.3 billion across four sales. This compares to the $1 billion it achieved in equivalent sales last year, which was bolstered by Leonard Lauder's holdings. Christie's anticipates sales between $683 million and $990 million from its two primary sales, a decrease from the $813.5 million recorded last November. Phillips expects to achieve $70.4 million to $99.4 million, an increase from its previous $67.3 million.

This season emphasizes storytelling around collections. Art advisor Aileen Agopian observed that Christie's and Sotheby's are focusing on“not just trophy works, but the sensibility of collectors and how they live with their art.” She added,“It's a reminder that great collecting is about vision.”

Sotheby's is featuring the Blaquier-Arrieta collection, described as a“mini Musée d'Orsay,” with an estimate of $414.5 million to $462.1 million. All 12 lots in this collection are guaranteed. The most expensive work is Vincent van Gogh's Châtaignier en fleurs roses et blanches (1890), estimated at around $180 million, followed by Paul Cezanne's Arlequin (1888–90), which depicts the artist's son in a harlequin costume and is expected to reach about $120 million. Augusto Arbizo, an advisor at Schwartzman&, noted via email,“There is something special about collections with a distinct identity and a story to tell, particularly when the works have remained in private hands for so long. That sense of history and discovery is undeniable.” He also highlighted Paul Gauguin's late Flowers in a Bowl (estimated at $10 million–$15 million ) and Maurice de Vlaminck's 1906 Fauvist still life (estimated at $2 million–$3 million ) as potential“sleepers in the group.”

Sotheby's modern evening auction is projected to bring in $260.2 million to $378.4 million, with 32 of 50 lots guaranteed, representing approximately 68.3 percent of the low estimate. René Magritte's L'Ami de l'ordre (1964), from Sydell Miller's collection, is estimated at $25 million to $35 million without a guarantee.

The house also begins the week with a single-owner sale of postwar and contemporary works from Ted and Ruth Baum's collection, which advisor Wendy Cromwell described as“exactly what the market wants right now,” citing the domestic scale and excellent condition of the works. She called it“a highly specific, intentional art collection.” Headlined by Joan Mitchell's Green Book of Barbara Guest (1960), estimated at $12 million to $18 million, the 24 guaranteed lots could total $74.4 million to $109 million. A notable item is Marisol's 1961–62 sculpture Madison Avenue, estimated at $200,000 to $300,000. The Baums acquired it for $336,000, including fees, at a Sotheby's day sale in 2007. Advisor Christine Minas stated,“I wouldn't be surprised if the final price significantly surpasses both the estimate and the previous auction result, given its provenance and the increasing profile of the artist.” She also noted the rarity of large 1960s sculptural works on the market, calling them“the most desirable works and period for the artist.” Sotheby's“The Now” and Contemporary sale is expected to generate $226.2 million to $323.1 million, with over half of the 53 lots guaranteed by value.

Christie's 20th-century sale on Tuesday, the largest of the week, includes 79 lots with estimates between $10 million and $20 million, aiming for $544.9 million to $789.8 million. Fourteen guaranteed lots represent about 36.8 percent of the low estimate. Wassily Kandinsky's Betonte Ecken (1922–23) and Gustav Klimt's Litzlbergkeller (1915–16) are top lots, each estimated at $60 million to $80 million. An Alberto Giacometti bronze from 1949, from the Herbert Lust trove, has a $20 million to $30 million estimate. The sale also features $100 million worth of art from Jeff Koons's collection.

Christie's 21st-century sale on Thursday includes 58 lots, with the first 20 from the collection of Antonio Homem Sonnabend, adopted son of dealer Ileana Sonnabend. Highlights include Roy Lichtenstein's 1963 Large Spool (estimated at $10 million–$15 million ), John Baldessari's 1996 Arrive (With Motives and Reasons), and a Koons Hulk ( $3.5 million–$5.5 million ). Minas noted that nearly all these works originated from the artists' studios, Sonnabend Gallery, or Castelli Gallery. Additionally, works from Agnes Gund's collection, led by Vija Celmins's 1990 photorealistic Untitled (Ocean) (estimated at $6 million to $8 million ), are included. Minas commented,“The results from this sale will reflect this most impeccable provenance.”

Phillips's Tuesday evening auction is estimated to achieve $70.4 million to $99.4 million across 23 lots, with about $54 million guaranteed. While known for contemporary art, Phillips is increasingly offering modern works due to market demand. Amedeo Modigliani's Tête (1911–12) leads this sale with a $28 million–$35 million estimate.

Source: Artnet News

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