lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 14, 2008 21:21:56 GMT 1, Very mixed results so far today. Not nearly as strong as last evening though it's quite obvious that Chamberlain sculptures continue to be in STRONG demand. Warhol did ok. There are quite a number of bought in lots, more than I can recall from a recent morning sale. Yet another in the seemingly endless supply of Hirst Spot paintings brought in $1.25m. We're just about to start the last portion featuring urban art (primarily Harring) but there is one 48 inch square Banksy from '99 (f**k the police) which is estimated at $250-350k which will come under the hammer in about 30 more minutes.
The real fun continues this evening with the big Bacon triptych and there is also an enormous Sale Ends Today Banksy that is less than 2 years old estimated $600-$800k. Fun times...
Very mixed results so far today. Not nearly as strong as last evening though it's quite obvious that Chamberlain sculptures continue to be in STRONG demand. Warhol did ok. There are quite a number of bought in lots, more than I can recall from a recent morning sale. Yet another in the seemingly endless supply of Hirst Spot paintings brought in $1.25m. We're just about to start the last portion featuring urban art (primarily Harring) but there is one 48 inch square Banksy from '99 (f**k the police) which is estimated at $250-350k which will come under the hammer in about 30 more minutes.
The real fun continues this evening with the big Bacon triptych and there is also an enormous Sale Ends Today Banksy that is less than 2 years old estimated $600-$800k. Fun times...
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Michael Jacob
Artist
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October 2006
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Christie's Art Auctions , by Michael Jacob on May 14, 2008 21:29:10 GMT 1, Keep us updated, sounds like a great auction to be at in person!
Keep us updated, sounds like a great auction to be at in person!
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RBK
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September 2006
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Christie's Art Auctions , by RBK on May 14, 2008 21:30:16 GMT 1, That Bacon at Sothebys is truly incredible. Did you at least go see it in the flesh?
That Bacon at Sothebys is truly incredible. Did you at least go see it in the flesh?
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 14, 2008 21:37:39 GMT 1, I'm not there but did some unsuccessful phone bidding. Now, I'm just watching online. I'm on the west coast, otherwise i would be there in person. I was at the November auctions which was truly incredible to walk amongst and in some cases hold (the best 24 inch Warhol flower painting I've seen to date) a few pieces. I WISH i was there in person as this is the strongest contemporary offering I've seen to date between Christies and Sothebys.
$360m last night for Christie's in what was an incredible success by any measure. But, just to show you how a bad deal can wreck even the best sale - they guaranteed $15 or $16m for the Lichtenstein Ball of Twine which was one of only 3 lots that went unsold and in doing so gave up more than 25% of their sales revenue if one assumes an average commission rate of 15%. Ouch
I'm not there but did some unsuccessful phone bidding. Now, I'm just watching online. I'm on the west coast, otherwise i would be there in person. I was at the November auctions which was truly incredible to walk amongst and in some cases hold (the best 24 inch Warhol flower painting I've seen to date) a few pieces. I WISH i was there in person as this is the strongest contemporary offering I've seen to date between Christies and Sothebys.
$360m last night for Christie's in what was an incredible success by any measure. But, just to show you how a bad deal can wreck even the best sale - they guaranteed $15 or $16m for the Lichtenstein Ball of Twine which was one of only 3 lots that went unsold and in doing so gave up more than 25% of their sales revenue if one assumes an average commission rate of 15%. Ouch
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 14, 2008 22:10:00 GMT 1, Bansky Fuck the Police just hammered for $229,000 including premium.
Bansky Fuck the Police just hammered for $229,000 including premium.
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Christie's Art Auctions , by icky on May 14, 2008 22:10:20 GMT 1, "Fuck the Police" failed to reach the estimate of $250-350.000. Ended at $229.000
"Fuck the Police" failed to reach the estimate of $250-350.000. Ended at $229.000
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Christie's Art Auctions , by alsbabar on May 14, 2008 22:12:01 GMT 1, hmmmmmmmmm either the estimate was too high, or the demand for Banksy oieces is slowing down
hmmmmmmmmm either the estimate was too high, or the demand for Banksy oieces is slowing down
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 14, 2008 22:13:27 GMT 1, "f**k the Police" failed to reach the estimate of $250-350.000. Ended at $229.000
But the seller obviously agreed to a lower price because this work did sell. The auction houses are good at evaluating interest and coming back to sellers to see if they would accept a lower price. So, despite it not hitting the low end which often refsults in the work being bought in, this painting did in fact sell.
"f**k the Police" failed to reach the estimate of $250-350.000. Ended at $229.000 But the seller obviously agreed to a lower price because this work did sell. The auction houses are good at evaluating interest and coming back to sellers to see if they would accept a lower price. So, despite it not hitting the low end which often refsults in the work being bought in, this painting did in fact sell.
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Christie's Art Auctions , by alsbabar on May 14, 2008 22:14:37 GMT 1, if it sold for $229,000 then that is a really good buy
if it sold for $229,000 then that is a really good buy
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Christie's Art Auctions , by alsbabar on May 14, 2008 22:35:11 GMT 1, lets wait to see what happens to banksy later at Sothebys new york, see how much his piece sells for then - Type, Fuck the Police is a one off also
lets wait to see what happens to banksy later at Sothebys new york, see how much his piece sells for then - Type, Fuck the Police is a one off also
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RBK
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September 2006
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Christie's Art Auctions , by RBK on May 14, 2008 22:49:25 GMT 1, I still think that someone like Neate or Parla will eventually eclipse banksy in the high end art world because of the depth and variety of their work (Neate more so in terms of variety.) I don't imagine banksy will care too much and shouldn't (and you would think wouldn't) alter what he did to sell bigger at auctions etc... I would imagine the Sale Ends Now will do well because it's very impressive in the flesh but also because it's unique and not one of an edition of whatever, think people could tire of seeing the same images come up again and again within a short space of time which has been the case at times with banksy at auction.
type - I've said that for a year and still believe it strongly! Slow and steady wins the race! So many people on here don't think in terms of long careers...
I still think that someone like Neate or Parla will eventually eclipse banksy in the high end art world because of the depth and variety of their work (Neate more so in terms of variety.) I don't imagine banksy will care too much and shouldn't (and you would think wouldn't) alter what he did to sell bigger at auctions etc... I would imagine the Sale Ends Now will do well because it's very impressive in the flesh but also because it's unique and not one of an edition of whatever, think people could tire of seeing the same images come up again and again within a short space of time which has been the case at times with banksy at auction. type - I've said that for a year and still believe it strongly! Slow and steady wins the race! So many people on here don't think in terms of long careers...
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 15, 2008 1:21:48 GMT 1, 86 million for the Bacon Triptych!
3 for the fright wig. Murakami @ 15! the gold Yves Klein did 23 while his blue did 17. This sale is nuts and has to be Sotheby's best ever. It's not even half way done and already sold $250m worth of art. Banksy coming up...
86 million for the Bacon Triptych!
3 for the fright wig. Murakami @ 15! the gold Yves Klein did 23 while his blue did 17. This sale is nuts and has to be Sotheby's best ever. It's not even half way done and already sold $250m worth of art. Banksy coming up...
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aginghippie
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December 2007
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Christie's Art Auctions , by aginghippie on May 15, 2008 1:38:42 GMT 1, Bansky f**k the Police just hammered for $229,000 including premium. So it sold for less than the Laugh Now at Bonhams the day before. I suppose the Laugh Now is more recognizably Banksy but it wasn't a very good piece.
Bansky f**k the Police just hammered for $229,000 including premium. So it sold for less than the Laugh Now at Bonhams the day before. I suppose the Laugh Now is more recognizably Banksy but it wasn't a very good piece.
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foreman
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May 2007
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Christie's Art Auctions , by foreman on May 15, 2008 1:42:53 GMT 1, the banksy could go for quite a bit with these buyers in the room.. damn
the banksy could go for quite a bit with these buyers in the room.. damn
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aginghippie
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December 2007
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Christie's Art Auctions , by aginghippie on May 15, 2008 1:52:25 GMT 1, The Sale Ends didn't sell.
The Sale Ends didn't sell.
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Christie's Art Auctions , by alsbabar on May 15, 2008 1:52:32 GMT 1, withdrawn?
withdrawn?
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Christie's Art Auctions , by alsbabar on May 15, 2008 1:53:06 GMT 1, if it didnt sell it didnt hit the reserve of 600,000
if it didnt sell it didnt hit the reserve of 600,000
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aginghippie
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December 2007
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Christie's Art Auctions , by aginghippie on May 15, 2008 1:53:36 GMT 1, No - unsold.
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 15, 2008 1:53:43 GMT 1, High estimates are just getting slaughtered. The only big miss being the $50m+ Rothko was bought in. Still, this sale total will be obscene. Wesselmann just toped $10 million, Warhol's Christ 112 times just did 9.5m
and Banksy's Sale Ends today didn't find a buyer at $600k. Meanwhile a beautiful Warhol skull just went for $1.6. There is not much going unsold and given the fevered action of this auction I'm surprised that Banksy couldn't find a buyer at 600k
High estimates are just getting slaughtered. The only big miss being the $50m+ Rothko was bought in. Still, this sale total will be obscene. Wesselmann just toped $10 million, Warhol's Christ 112 times just did 9.5m
and Banksy's Sale Ends today didn't find a buyer at $600k. Meanwhile a beautiful Warhol skull just went for $1.6. There is not much going unsold and given the fevered action of this auction I'm surprised that Banksy couldn't find a buyer at 600k
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Christie's Art Auctions , by alsbabar on May 15, 2008 1:55:39 GMT 1, that is a huge piece and totally amazing also
that is a huge piece and totally amazing also
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Christie's Art Auctions , by alsbabar on May 15, 2008 1:56:50 GMT 1, i am speechless, i would have thought that piece would have sold
bad week for Banksy, good one for Nick Walker in NYC
i am speechless, i would have thought that piece would have sold
bad week for Banksy, good one for Nick Walker in NYC
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 15, 2008 2:00:36 GMT 1, So, Sotheby's has 30 days to take offers and if anyone offers $600 or more for sale ends today then it has to be sold. There may be an opportunity here for someone to get it at a low ball price if the seller is motivated by submitting a smaller bid to Sotheby's. I'll be able to find out tomorrow where bidding stopped on that painting.
$363 million for Sotheby's and they were that one shocking Rothko from breaking $400.
Looking at the 2 nights and the day sales I'd say it is abundantly clear that the top end of the market is somehow continuing to push forward on its rocket trajectory. The lesser quality stuff is definitely showing weakness though.
So, Sotheby's has 30 days to take offers and if anyone offers $600 or more for sale ends today then it has to be sold. There may be an opportunity here for someone to get it at a low ball price if the seller is motivated by submitting a smaller bid to Sotheby's. I'll be able to find out tomorrow where bidding stopped on that painting.
$363 million for Sotheby's and they were that one shocking Rothko from breaking $400.
Looking at the 2 nights and the day sales I'd say it is abundantly clear that the top end of the market is somehow continuing to push forward on its rocket trajectory. The lesser quality stuff is definitely showing weakness though.
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neverfaile
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April 2008
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Christie's Art Auctions , by neverfaile on May 15, 2008 2:29:56 GMT 1, The biddding on the Banksy topped out at 525,000 USD. Unsold
The biddding on the Banksy topped out at 525,000 USD. Unsold
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aginghippie
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December 2007
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Christie's Art Auctions , by aginghippie on May 15, 2008 2:30:58 GMT 1, It's interesting to compare the price $229k today with the $345k from the police piece back in February. Both pieces are the same size and stencil except one says Fuck the Police and the other has an anarchist symbol.
It's interesting to compare the price $229k today with the $345k from the police piece back in February. Both pieces are the same size and stencil except one says Fuck the Police and the other has an anarchist symbol.
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 15, 2008 2:46:47 GMT 1, It's interesting to compare the price $229k today with the $345k from the police piece back in February. Both pieces are the same size and stencil except one says f**k the Police and the other has an anarchist symbol.
Agreed, though i would far and away prefer the anarchist symbol to the fuck the police message hanging in my home and i have to think most would agree. I can well appreciate the premium to the former.
I'm surprised a pair of 22 inch '67 warhol self portraits failed to get $3m while the same size '86 counterparts (fright wigs) brought in $6.5m. The quality of the fright wigs were far superior but i was still surprised to see that happen.
It's interesting to compare the price $229k today with the $345k from the police piece back in February. Both pieces are the same size and stencil except one says f**k the Police and the other has an anarchist symbol. Agreed, though i would far and away prefer the anarchist symbol to the fuck the police message hanging in my home and i have to think most would agree. I can well appreciate the premium to the former. I'm surprised a pair of 22 inch '67 warhol self portraits failed to get $3m while the same size '86 counterparts (fright wigs) brought in $6.5m. The quality of the fright wigs were far superior but i was still surprised to see that happen.
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Christie's Art Auctions , by darjeeling on May 15, 2008 3:07:06 GMT 1, The biddding on the Banksy topped out at 525,000 USD. Unsold Might seem a bit strange that it didn't sell considering how much money was blown today, but put in perspective --- a 600k low estimate for a canvas from an artist as fresh as Banksy who does not have a very long track records is very aggressive. Maybe one day? But I think he needs a cooling off period.
The biddding on the Banksy topped out at 525,000 USD. Unsold Might seem a bit strange that it didn't sell considering how much money was blown today, but put in perspective --- a 600k low estimate for a canvas from an artist as fresh as Banksy who does not have a very long track records is very aggressive. Maybe one day? But I think he needs a cooling off period.
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aginghippie
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December 2007
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Christie's Art Auctions , by aginghippie on May 15, 2008 3:15:27 GMT 1, I'm constantly surprised by the prices for the 1980's Warhols although I'd kill for a Debbie Harry but they never seem to come up.
Taking this a bit further the same Fuck the Police edition (don't think it was the same actual piece) was sold in the UK back in October by Sotheby's for $310k. Equally there was a Laugh Now sold by Sotheby's in the same sale that for $330k was very similar to the one sold by Bonhams for $229k. It looks to me like there is a sizeable discount on Banksy work in the US auction market at the moment.
I'm constantly surprised by the prices for the 1980's Warhols although I'd kill for a Debbie Harry but they never seem to come up.
Taking this a bit further the same Fuck the Police edition (don't think it was the same actual piece) was sold in the UK back in October by Sotheby's for $310k. Equally there was a Laugh Now sold by Sotheby's in the same sale that for $330k was very similar to the one sold by Bonhams for $229k. It looks to me like there is a sizeable discount on Banksy work in the US auction market at the moment.
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Deleted
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Christie's Art Auctions , by Deleted on May 15, 2008 3:25:02 GMT 1, a very good question!
a very good question!
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lee3
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November 2009
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Christie's Art Auctions , by lee3 on May 15, 2008 5:30:46 GMT 1, Lee, you are obviously a man who knows his art. I would be curious to hear your opinion on the potential longevity of Banksy's place within large auction houses and what other artists you would view as having potential. I am not asking this for greed or monetary reasons, I don't own nor will ever be able to afford to own work by the likes of Banksy or Neate but from your perspective what contemporary artists' work do you view as taking that next step towards the high end? I sometimes wonder how naive we are here and whether there are other up and coming artists out there who are breaking into the large auction houses and we haven't a clue who they are because they're not linked to the street movement. Again let me stress that I am not looking for insider info from someone in the know, I am just curious because I find it fascinating and slightly mental that people pay such huge sums for purty (and lots of times not so purty) pictures. It makes it even more interesting when considering that artists who we have followed from the early stages of their careers are potentially headed someday towards the madness and money of the art big leagues.
Type, I appreciate the consideration but I am far from an expert. I follow the art market with a healthy amount of both love and greed. Though I've never sold a piece, anyone that pretends to not be interested in pricing for some amount of greed is just full of it imho. I've only got a 10 year view on the musings of the art market but am fortunate in that I have been mentored by folks that were collecting pop art in the '60s and their perspective is invaluable. Sorry for the tangent and to your point, I believe Banksy will go down as the leader of this urban/graffiti movement just as Basquiat clearly was the leader of a similar movement in NY in the 80s and Warhol was with pop. The question is how real is this movement within the context of art history and that remains to be seen. If this movement lasts for 30+ yeas like cubism and pop before it, then Banksy will be on a short list of names that people will recite on Jeopardy 100 years from now. ha ha
Banksy has been unique in the way he puts on his gallery shows and the tunnel show and turned the art world upside down by hanging his work in the very best museums. He simply looks at the world differently than most and like the very best artists in the world, he is changing the way you and i look at the world rather than conforming to it like the vast majority of us. It is a remarkably short list of people that have that kind of artistic talent in whatever medium they choose. Further, I don't think there has ever been a better artist at conveying humor and political satire to the masses at large while simultaneously making even the best art historians stop in their tracks and contemplate his work and its longevity. He clearly borrows from the best artists before him yet turns it into something beautiful all his own.
So yeah, my admittedly small vantage point believes Banksy is here to stay and will be remembered long after we're gone. As for who else, who knows? There is no name that I can drop on this thread that nobody has not heard of. Most of you know this movement far better than I do and i'm having a blast learning from you all. I get the feeling this is indeed the next big thing whereas photorealism had its day and some extremely talented artists but never had the impact that I suspect this group will leave upon the world. This group is MUCH better at marketing themselves than the NY crew were in the 80s and like it or not, that helps - BIG time. Personally, I've been infatuated with David Choe and Os Gemeos and have recently been getting into C215. Like I said, it's pretty silly for me to speculate who may have the special mix of talent and timing to leave a lasting mark on the world so I'll just enjoy the ride.
Lee, you are obviously a man who knows his art. I would be curious to hear your opinion on the potential longevity of Banksy's place within large auction houses and what other artists you would view as having potential. I am not asking this for greed or monetary reasons, I don't own nor will ever be able to afford to own work by the likes of Banksy or Neate but from your perspective what contemporary artists' work do you view as taking that next step towards the high end? I sometimes wonder how naive we are here and whether there are other up and coming artists out there who are breaking into the large auction houses and we haven't a clue who they are because they're not linked to the street movement. Again let me stress that I am not looking for insider info from someone in the know, I am just curious because I find it fascinating and slightly mental that people pay such huge sums for purty (and lots of times not so purty) pictures. It makes it even more interesting when considering that artists who we have followed from the early stages of their careers are potentially headed someday towards the madness and money of the art big leagues. Type, I appreciate the consideration but I am far from an expert. I follow the art market with a healthy amount of both love and greed. Though I've never sold a piece, anyone that pretends to not be interested in pricing for some amount of greed is just full of it imho. I've only got a 10 year view on the musings of the art market but am fortunate in that I have been mentored by folks that were collecting pop art in the '60s and their perspective is invaluable. Sorry for the tangent and to your point, I believe Banksy will go down as the leader of this urban/graffiti movement just as Basquiat clearly was the leader of a similar movement in NY in the 80s and Warhol was with pop. The question is how real is this movement within the context of art history and that remains to be seen. If this movement lasts for 30+ yeas like cubism and pop before it, then Banksy will be on a short list of names that people will recite on Jeopardy 100 years from now. ha ha Banksy has been unique in the way he puts on his gallery shows and the tunnel show and turned the art world upside down by hanging his work in the very best museums. He simply looks at the world differently than most and like the very best artists in the world, he is changing the way you and i look at the world rather than conforming to it like the vast majority of us. It is a remarkably short list of people that have that kind of artistic talent in whatever medium they choose. Further, I don't think there has ever been a better artist at conveying humor and political satire to the masses at large while simultaneously making even the best art historians stop in their tracks and contemplate his work and its longevity. He clearly borrows from the best artists before him yet turns it into something beautiful all his own. So yeah, my admittedly small vantage point believes Banksy is here to stay and will be remembered long after we're gone. As for who else, who knows? There is no name that I can drop on this thread that nobody has not heard of. Most of you know this movement far better than I do and i'm having a blast learning from you all. I get the feeling this is indeed the next big thing whereas photorealism had its day and some extremely talented artists but never had the impact that I suspect this group will leave upon the world. This group is MUCH better at marketing themselves than the NY crew were in the 80s and like it or not, that helps - BIG time. Personally, I've been infatuated with David Choe and Os Gemeos and have recently been getting into C215. Like I said, it's pretty silly for me to speculate who may have the special mix of talent and timing to leave a lasting mark on the world so I'll just enjoy the ride.
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Christie's Art Auctions , by onemandown72 on May 15, 2008 7:50:13 GMT 1, I'm with Type on the curiosity thing - what makes art desirable long term? I live in hope that it's talent & attititude that always shines through. I'm not a huge fan of Adam Neate, after seeing the video of him by JetSet Graffitti I hope he lasts. His attitude to his work is fantastic, and he clearly does have talent (even thought not my cup of tea)
I'm with Type on the curiosity thing - what makes art desirable long term? I live in hope that it's talent & attititude that always shines through. I'm not a huge fan of Adam Neate, after seeing the video of him by JetSet Graffitti I hope he lasts. His attitude to his work is fantastic, and he clearly does have talent (even thought not my cup of tea)
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