A Dutch sea-battle scene was the top
lot at an auction in London last night as Old Masters brought
the summer season of art sales to an end.
Sotheby’s event of 43 lots raised 32.3 million pounds ($50
million) with fees, against an estimate of as much as 40.3
million pounds, based on hammer prices, with 67 percent of the
works successful.
This time, the New York-based house had fewer big-name
trophies than Christie’s International, which the evening before
raised 85.1 million pounds, a record for an Old-Master auction.
“It’s a whole new market from what it was 10 years ago,”
the London-based adviser Hector Paterson said. “Private
collectors are buying the best things at auction, making it too
expensive for dealers to buy for stock.”
Willem van de Velde the Younger’s 17th-century painting of
the surrender of a British flagship to a Dutch fleet in 1666 was
estimated at 1.5 million pounds to 2.5 million pounds. It hadn’t
been seen at auction for more than 30 years.
The London-based dealer Johnny van Haeften pursued the lot
to 3.6 million pounds. After a 9-minute battle the painting was
won by a Dutch collector, represented by the dealer William
Noortman, for 5.3 million pounds.
The auction’s most highly valued lots were a Lucas Cranach
the Elder altarpiece and a Pieter Breughel the Younger painting
of “The Battle Between Carnival and Lent.” Both were estimated
at 4 million pounds to 6 million pounds.
Guaranteed Cranach
Cranach’s 1511-1512 “Feilitzsch Altarpiece” was one of two
works guaranteed to sell through third-party “irrevocable bids.”
Christie’s guaranteed eight lots the previous evening.
Formerly owned by the German politician Konrad Adenauer,
the Cranach sold for 4.3 million pounds to the guarantor.
The Breughel, based on a 1559 painting by the artist’s more
famous father, was crammed with more than 100 figures. It had
been bought for $2.7 million at Christie’s, New York, in 1989.
This time, it sold for 4.5 million pounds to a telephone bidder.
Another surprise of the evening was the five-times-estimate
price paid for “Christ Among the Doctors” by the Italian Baroque
painter Orazio Borgianni.
The auction result database Artnet records fewer than 10
authenticated works by the Roman follower of Caravaggio
appearing at public sales.
This early composition, dating from about 1610 and never
offered before at auction, sold for a record 3.4 million pounds
after being valued at 400,000 pounds to 600,000 pounds. The
previous auction high for the artist was just 133,500 pounds in
1998.
Bidding Battle
Alexander Bell, Sotheby’s (BID) worldwide co-chairman of Old
Master paintings, gave the winning bid on behalf of a private
client. He fought off competition from at least four under
bidders, including the London-based agent Robert Holden and the
dealer Fabrizio Moretti.
Earlier in the day at Sotheby’s, the Swiss-based collector
and dealer David Lachenmann gave 1.9 million pounds for a newly
rediscovered Canaletto study of Venice.
The detailed pen-and-brown-ink sheet showing the Campo di
San Giacomo di Rialto, the traditional center of the Venetian
banking industry, had been estimated at 300,000 pounds to
500,000 pounds. Six bidders pushed the price to a record level
for a work on paper by the artist. The drawing hadn’t been seen
in public since 1876.
(Scott Reyburn writes about the art market for Muse, the
arts and culture section of Bloomberg News. Opinions expressed
are his own.)
Muse highlights include Jorg von Uthmann on Paris art,
Warwick Thompson on London theater and Jason Harper on cars.
To contact the writer on the story:
Scott Reyburn in London at sreyburn@hotmail.com.
To contact the editor responsible for this story:
Manuela Hoelterhoff at
mhoelterhoff@bloomberg.net.
“The Surrender of the Royal Prince”
Sotheby’s via Bloomberg.
“The Surrender of the Royal Prince,” a 17th-century painting of an Anglo-Dutch sea battle by Willem van de Velde the Younger. The work sold for a top price of 5.3 million pounds at Sotheby’s July 4 auction of Old Master paintings in London.
“The Surrender of the Royal Prince,” a 17th-century painting of an Anglo-Dutch sea battle by Willem van de Velde the Younger. The work sold for a top price of 5.3 million pounds at Sotheby’s July 4 auction of Old Master paintings in London. Source: Sotheby’s via Bloomberg.
Borgianni Painting
Sotheby’s via Bloomberg.
“Christ Among the Doctors,” a 1609 painting by the rare Italian Baroque painter Orazio Borgianni. The work sold during Sotheby’s July 4, 2012 auction of Old Master paintings in London.
“Christ Among the Doctors,” a 1609 painting by the rare Italian Baroque painter Orazio Borgianni. The work sold during Sotheby’s July 4, 2012 auction of Old Master paintings in London. Source: Sotheby’s via Bloomberg.
Cranach Painting
Sotheby’s via Bloomberg.
“The Feilitzsch Altarpiece,” a 1511 painting by the German artist Lucas Cranach the Elder. The last multi panel painting of its type by the artist left in private hands, it sold in Sotheby’s auction of Old Master paintings in London on July 4. The price was 4.3 million pounds to its sale guarantor.
“The Feilitzsch Altarpiece,” a 1511 painting by the German artist Lucas Cranach the Elder. The last multi panel painting of its type by the artist left in private hands, it sold in Sotheby’s auction of Old Master paintings in London on July 4. The price was 4.3 million pounds to its sale guarantor. Source: Sotheby’s via Bloomberg.
Canaletto Drawing
Sotheby’s via Bloomberg.
“Campo San Giacomo di Rialto, Venice,” a newly discovered pen and brown drawing by Canaletto that was included in Sotheby’s July 4 auction of Old Master drawings in London. It sold for 1.9 million pounds, a record price for a drawing by the artist.
“Campo San Giacomo di Rialto, Venice,” a newly discovered pen and brown drawing by Canaletto that was included in Sotheby’s July 4 auction of Old Master drawings in London. It sold for 1.9 million pounds, a record price for a drawing by the artist. Source: Sotheby’s via Bloomberg.
Article source: http://www.bloomberg.com/news/2012-07-04/auction-surprise-as-sea-scene-tops-50-million-art-at-sotheby-s.html
