New York fall auctions start Tuesday
Published November 2nd, 2007
American collectors are largely expected to watch from the sidelines while foreign buyers dominate the bidding for the priciest Impressionist, modern and contemporary art. The major auction houses — Sotheby’s, Christie’s and Phillips de Pury & Co. — predict this global buying will push their combined sales during the two weeks of auctions to as much as $2 billion, up from $1.3 billion last November and $764 million in November 2005.
Sotheby’s sale highlights include a Gauguin view of a Tahitian woman estimated to go for up to $60 million, a late Van Gogh depiction of a wheat field for up to $35 million, and a Francis Bacon bullfighter for up to $45 million. Overall, Sotheby’s expects its sales to bring in up to $977 million.
Christie’s, is selling art estimated to bring in up to $1.03 billion, including two Rothko abstracts that could fetch as much as $30 million each; a Warhol portrait of Elizabeth Taylor being sold by actor Hugh Grant estimated at up to $35 million; and a Cézanne watercolor of a gardener for up to $25 million. The rival houses also each feature a sculpture by Jeff Koons from the artist’s 1994 series examining popular holidays. Each is estimated to fetch up to $20 million.
Phillips estimates taking from its two-day contemporary sale at up to $66 million, including a 1982 De Kooning abstract that could fetch up to $7 million and Richard Prince’s “Nurse” painting for up to $2.5 million.
