Thursday, February 06, 2014

Sotheby's White-glove Auction for Jan Krugier

WHITE-GLOVE AUCTION

Sotheby’s Sale of The Private Collection of Legendary Art Dealer Jan Krugier 100% Sold

Combined Total of £74.8 million - More than Double the High Estimate
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In the course of the last two days, 119 works from the Private Collection of Jan Krugier have met with enormous enthusiasm at Sotheby’s, selling for a combined total of £74.8 million ($122,128,701/ €89,957,075), more than double the pre-sale high estimate (est. £24.2-35.3 million). The sale was 100% sold by lot, with 82.5% of the lots selling for prices above their high estimates and many auction records established.

A survivor of the Holocaust, the legendary Swiss gallerist amassed - together with his wife, Marie-Anne Krugier-Poniatowski - one of the world's most spectacular collections of works on paper. Spanning the history of art from the late 18th to the mid-20th century, the group offered incorporated powerful works by the greatest names of their time: Goya, Delacroix, Géricault, Corot, Turner, Degas, Manet, Bonnard, Monet, Renoir, Cézanne, Van Gogh, Gauguin, Seurat, Matisse, Klee, Picasso and Giacometti.

The group was led by Pablo Picasso’s Composition (Composition au Minotaure) which sold for £10,386,500 / $16,943,497 (est. £1.8-2.5m) – a record price for a work on paper by the artist at auction.

Alberto Giacometti’s iconic sculpture Homme Traversant Une Place Par Un Matin De Soleil (1951) achieved £8,482,500/ $13,837,502 (est. £3/5 million).

NEW AUCTION RECORDS

Auction records were established for works on paper by Pablo Picasso, Giorgio de Chirico, Alberto Giacometti, Pierre Bonnard, for a print by Pablo Picasso and for a work by Victor Hugo (further details below).

·         Record price for a work on paper by Pablo Picasso - Composition (Composition au Minotaure) from 1936 sold for £10,386,500 / $16,943,497 (est. £1.8-2.5m)
·         Record price for a print by Pablo Picasso - La Femme qui pleure I (1937) sold for £3,218,500 / $5,250,339 (est. £1.2-1.8m)
·         Record price for a work on paper by Giorgio de Chirico - Studio per Piazza d'Italia (c. 1913) sold for £1,314,500/ $2,144,475 (est. £35,000-45,000)
·         Record price for a work on paper by Alberto Giacometti – Femme nue debout (1946) sold for £1,022,500 / $1,668,004 (est. £120,000-180,000)
·         Record price for a work on paper by Pierre Bonnard - Nu dans la baignoire (c. 1940) sold for £602,500 / $982,858 (est. £180,000-250,000)
·         Record for a work by Victor Hugo – his gouache on paper La Planète (Saturne)(c. 1854) sold for £434,500 / $708,843 (est. £60,000-80,000)

The J. Paul Getty Museum in Los Angeles has emerged as the buyer of Georges Seurat’s Mendiant hindou from the Personal Collection of Jan Krugier. Held to be among the greatest drawings Seurat produced, the haunting depiction of an Indian begger dates from a key transitional moment in the artist’s career. It sold today for £2,434,500 / US$ 3,971,643 against an estimate of £80,000-£120,000 (US$129,000- 194,000).
A full description of the drawing is available here: http://www.sothebys.com/en/auctions/ecatalogue/lot.pdf.L14004.html/f/165/L14004-165.pdf

In addition, Tête – a 1911 drawing by Pablo Picasso, also from the Krugier Collection – sold to a UK institution for £626,500 (US$1,022,072) to a UK institution (est. £180,000-250,000/ US$215,000-299,000). Full details available here:
 
 


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