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Saint Laurent sale top-grossing European auction of all time: $483.8M |
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| Written by CATHERINE SAUNDERS-WATSON, Auction Central News International |
| Thursday, 26 February 2009 14:38 |
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After the gold dust had settled in the incomparably beautiful Grand Palais - site of the three-day auction that attracted an international frenzy of interest - the cumulative auction tally was announced: $483.8 million.
In addition, there were multiple world records set for artworks by individual artists. Sixteen lots sold for more than 5 million euros ($6.4 million), and 61 lots brought in individual prices of more than 1 million euros ($1.28 million). A remarkable 95.5% of lots sold by lot, and 93% sold by value. The spectacular public exhibition at the Grand Palais was specially designed so previewers could experience the atmosphere of Yves Saint Laurent's Paris apartment at rue de Babylone. More than 30,000 visitors passed through the exhibition during the 3-day preview held Feb. 21-23, and more than 1,500 people gathered for each of the sales. The top lot of the sale was Les coucous, tapis bleu et rose, 1911 by Henri Matisse (1869-1954), which sold for $46.4 million. Following the Matisse were Constantin Brancusi's (1876-1957) Portrait de Mme. L.R., painted in 1914-17, which sold for an artist world-record $37,762,472; and Piet Mondrian's (1872-1944) Composition avec bleu, rouge, jaune et noir, 1922, which also set a world record for the artist at $27,908,129. A second Mondrian, titled Composition ave grille 2, earned $18,633,454. The 18th-century bronze fountain heads of a rabbit and rat, which had been made for the Zodiac Fountain of the Emperor Qianlong's Summer Palance (Yuanming Yuan) in China, had stirred controversy in the days leading up to their sale. A Chinese group had challenged their ownership and gone to court in an attempt to have the artworks removed from the sale and returned to China (see previous coverage on Auction Central News). A French judge ruled against the plaintiff, and the fountain heads went on to achieve $20,372,456 apiece. A world auction record for any 20th-century decorative art and design work was realized by an Eileen Gray (1878-1976) "dragons" armchair, created around 1917-1919 and formerly in the collection of fashion designer Suzanne Talbot. The early Art Deco masterpiece was purchased for $28, 342,880 by Robert and Cheska Vallois; Mme Vallois being the dealer who sold the chair to Yves Saint Laurent in the early 1970s. The silver collection was 100% sold in a Feb. 24 session that also included miniatures and objets de vertu. An international audience of buyers competed fiercely over the German Hanover family's cups, which alone totaled $7.8 million. One of the cups, a 1649 German silver-gilt quadruple design with the mark of Christoph Uder Osterode, sold for $1.1 million. The buyer, fifth-generation Paris dealers Galerie J. Kugel, prevailed on three of the top 10 silver lots. The Musée du Louvre paid $622,366 for an important Louis XIV rose-cut diamond and enameled gold-mounted presentation miniature, a circa-1680 portrait by Jean I. Petitot. The Feb. 25 afternoon sale of sculpture and works of art was the longest sculpture session in Christie's history. It took six hours to disperse 279 exceptional lots. Numerous records were set, and the total of almost $31 million tripled its low estimate. "The range of works datring from the 13th to the 19th century attracted mainly private collectors and many new bidders to the category from all over the world," said Donald Johnston, Christie's Head of European Sculpture. After the monumental auction event, Pierre Bergé commented: "The sale of the collection that I had built in partnership with Yves Saint Laurent draws to a close and has been a triumph. My expectations have been fully realized. I thank Christie's for the organization of both the preview exhibitions and the sale itself in the setting of the Grand Palais. I offer my gratitude to the public who came in huge numbers and were prepared to queue patiently for many hours.' "The results of the sale exceed our highest expectations and confirm the potential of the Paris marketplace to rise to such an occasion," Bergé continued. "The results also demonstrate that even in a difficult economic climate, works of art of great quality preserve their power and their value." Copyright 2009 Auction Central News International. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
ADDITIONAL LOTS OF NOTE
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| Last Updated on Friday, 27 February 2009 12:23 |
PARIS (ACNI) - The art world will still be talking about Christie's Feb. 23-25 auction of the Yves Saint Laurent and Pierre Bergé collection long after its luxe contents have settled into private and institutional collections the world over. There has never been an auction like it before, and it's likely that the many records set over the three-day period will be secure for years - maybe decades - to come.
