Peggy Rockefeller, Rockefeller Auction, David discussed on The Art Newspaper Weekly

Automatic TRANSCRIPT

Yeah. These paper put cost brought to you in satiated with Bonhams with a historic and modern equally valued. It's the art newspaper weekly pulled curse with me Ben league. Thanks for joining us this week with o'casey again on the art market and looking at very different ends of it will look at the results from one of the most hotly anticipated options in recent years that David and Peggy Rockefeller sale, which took place earlier this week. We talked to an art market economist about what such cell, say about the market as a whole. And we talked to a gallery who has a small space in of all places. Piccadilly circus tube station. I, though the Rockefeller auction, regular listeners will know in February we interviewed the roof Avella arc of is Peter Johnson about the collection of Peggy and David. Rockefeller, what's been taking place all this week. And I should say that we're recording this Wednesday afternoon. So if anything spectacular happened since and forgive us for not mentioning, but the main event of the week was always going to be Tuesday nights auction of nineteenth and twentieth century art, featured forty four works by. Leading figures from della through Koro many Monay Gauguin Picasso Matisse and many more and the auction as expected set a new record for a single owner sale raising six hundred forty, six million for various charities designated by the late couple. The biggest sale of the night was a Picasso girl with a flower basket. Arose period painting from nineteen zero. Five owned by Gertrude Stein, and then acquired by David. Rockefeller sold for hundred and two million dollars in the sail room rising to one hundred fifteen with fees. His Peter Johnson talking about that painting in February, but it was a great story. The fact that this girl with a basket of flowers had to owners in the twentieth century and that was in and into the twenty first century makes it a remarkable thing. And it's a remarkable painting as well Judean Adam who's the author of big bucks and dark side of the boom to looking at the explosion and the accessories of the art market. This century is with me now Georgina six hundred forty six million. It has to be regarded as a big success. Doesn't it? Oh, absolutely. Yes. If well, well over the presale estimate and of course it's only the beginning because as an enormous amount of Rockefeller consignments to come as part of this huge one thousand six hundred lot sale. And the idea is that it will probably Fitch in total around one billion or even go over. Well, it's actually it's bit was step up. You've still got to make another three hundred fifty million. And the rest of the consignments particular things like furniture silver are not fashionable. So Christie's is being under a bit cautious about that. They don't like you to say a billion we shall see now. I'm just looking at the results from Tuesday nights auction. It seems very front loaded since that all the big prices happened in the first most of the big process happened in the first half and then it sort of rather sacks towards the end. Is that fair? Yes. I mean, I don't think that sagging entirely. Covers of senior puts making thirteen million, you know, or. Or Kandinsky. That makes six point. Five million did very well as well. But yes, compared to the fireworks at the beginning, these huge prices that were made eighty million over eighteen million for that wonderful sense. US Matisse the thirty five point. One million made for my particular favorite. The Gauguin lavar which was an extraordinary picture and went way over its us too much which was published was it was a what they call a whisper estimate. It was on request, but it was seven to ten million compared to those huge prices. At the beginning, it's true that some of the works towards the end didn't do as well, some of them wind underestimate. But you have to think that there was really what the French colon Ombo hurdle. He shares. There were so many good works coming on the market all in the same time, and it is conceivable that there was just too much that bias had to make the choice and have. Being

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