Tag: Art Auction

Obscure Artist Stuns Auctioneers: Leonardo Guzzardiโ€™s Portrait of Lord Nelson Sells 15 Times Estimate

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In a stunning turn of events, a rare portrait of Admiral Lord Nelson by the little-known Italian artist Leonardo Guzzardi sold for ยฃ94,380 ($120,000) at Bonhamsโ€™ Old Master Paintings auction in London, shattering its modest pre-sale estimate of ยฃ6,000โ€“ยฃ8,000 ($7600โ€“$10,200). The 1799 full-length depiction of Nelson in naval dress, set against a dramatic maritime backdrop, captivated bidders and underscored a growing appetite for rediscovered works by overlooked artists. Guzzardi, a relatively obscure figure believed to have worked for the Neapolitan Court, has gained renewed attention for his raw, realistic portrayals of the famed British naval hero, marking this sale as both a market surprise and a testament to the timeless allure of historical portraiture.

Jessica Dismorrโ€™s Self-Portrait Sets New Auction World Record at Bonhams

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Jessica Dismorr, a pioneering figure in British modern art, has achieved a new auction world record at Bonhams’ recent Blazing a Trail: Modern British Women auction. The sale, which ran online from September 9 to 18, showcased the largest known private collection of works by Dismorr, with the centerpiece, Woman Seated (Self-Portrait), selling for ยฃ57,600 (approximately $73,000). The final price far surpassed its pre-sale estimate of ยฃ4,000โ€“6,000 (approximately $5,000โ€“$7,600), cementing Dismorr’s position as a significant figure in 20th-century art.

Surrealist Art Market Shows Strong Momentum with Record Sales and High Demand

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The surrealist art market is currently experiencing a notable period of growth, evidenced by strong auction results and heightened collector interest. Recent sales in New York, Paris, and London reflect a robust appetite for works from this historically significant movement. Renรฉ Magritteโ€™s Lโ€™empire des Lumiรจres (1954) led the market in 2024, achieving $121.16 million at Christieโ€™s New Yorkโ€”the highest price ever paid for a surrealist artwork. This sale underscores a broader trend of sustained demand for surrealist pieces, both from marquee names and historically underrepresented artists.

Duct-Taped Banana Sells for $6.2 Million vs. 6.2 Million Children Die from Starvation Each Year

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A banana duct-taped to a wall has just sold for $6.2 million at Sothebyโ€™s in New York, an event hailed by art critics as a record-breaking triumph. But as headlines celebrate this bizarre spectacle of wealth, one must confront an unsettling parallel: every year, 6.2 million children die from starvation, mostly in Africa. Thatโ€™s over 17,000 children a day. While crypto millionaires and provocateurs play with their money in the name of โ€œart,โ€ over 700 million people around the world go to bed hungry. Thereโ€™s something deeply rotten in our global culture when a piece of duct tape and a banana is valued more than the lives of millions dying from preventable causes.

Magritte’s Masterpiece Sets Surreal World Record, Selling for $121 Million at Christieโ€™s

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Renรฉ Magritteโ€™s “Lโ€™empire des Lumiรจres” (1954) has shattered records, selling for an astonishing $121.2 million at Christieโ€™s in New York. This iconic surrealist work, renowned for its haunting juxtaposition of a tranquil daylit sky and a shadowy nocturnal streetscape, captivated collectors in a dramatic bidding war. The sale not only surpassed its $95 million pre-sale estimate but also established a new benchmark for the Belgian artist, solidifying his place among the most sought-after figures in modern art. This masterpiece, part of the late Mica Ertegunโ€™s celebrated collection, has been hailed as a quintessential representation of Magritteโ€™s enigmatic brilliance.

African Artists Show Strong Results at Auction: William Kentridge Smashes Estimate

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A recent auction at Bonhams in London showcased the dynamic and rising value of Modern and Contemporary African Art, concluding with total sales of ยฃ2,439,400 (approximately $2,976,068). The event featured prominent works, including William Kentridge’s Monument I, which soared past expectations, selling for ยฃ483,000 (about $589,260) against its estimate of ยฃ200,000โ€“ยฃ300,000. Kentridge’s evocative charcoal piece, rooted in his Drawings for Projection series, epitomizes his narrative-driven approach that intertwines historical introspection with striking visual artistry. Irma Stern’s Zululand and significant pieces by Ben Enwonwu and Marlene Dumas further emphasized the auction’s success, underscoring the burgeoning global recognition and deepening collector interest in African art’s profound heritage and contemporary vibrancy.

Islamic Sarghitmish Lamp Sets World Record as Most Expensive Glass Artifact, Selling for $6.5 Million at Bonhams

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In a landmark moment for art history, a 14th-century Sarghitmish mosque lamp from Egypt has shattered records, fetching an extraordinary ยฃ5,130,400 ($6.56 million) at Bonhamsโ€™ Islamic and Indian Art Sale in London on November 12, 2024. The sale attracted intense competition both in the room and via phone bidders, solidifying the lamp’s status as the most expensive glass object ever sold at auction. Initially estimated at ยฃ600,000-1,000,000 ($785,000-1,300,000), the lamp’s final price far exceeded expectations.

Pollock, Basquiat, Warhol, Twombly Headline Monumental Phillips Auction

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Phillips is set to command the art worldโ€™s attention with its upcoming November Evening Sale of Modern & Contemporary Art in New York. The highly anticipated event, scheduled for November 19 at their prestigious 432 Park Avenue location, will present 33 carefully curated works that bridge the gap between celebrated modern masters and contemporary visionaries. The sale is headlined by Jackson Pollockโ€™s Untitled, circa 1948, a landmark piece from his groundbreaking drip painting period, and features rare double self-portraits by both Jean-Michel Basquiat and Andy Warhol, offered together for the first time at auction. Additional highlights include Cy Twomblyโ€™s mythologically charged Crimes of Passion I and a striking array of works by Pablo Picasso and Joan Mirรณ, making this event a must-see for collectors and art enthusiasts worldwide.

‘A Scout is Loyal’ and Worth $5 Million! Norman Rockwell’s Patriotic Masterpiece Set for Auction

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Norman Rockwellโ€™s ‘A Scout is Loyal’, a stirring portrayal of American patriotism, is poised to be the highlight of Bonhamsโ€™ American Art sale on November 20. Painted in 1940 during the artistโ€™s most significant period amidst World War II, this masterpiece embodies Rockwellโ€™s talent for capturing the national spirit. Featuring a Boy Scout surrounded by powerful American symbolsโ€”including the flag, a bald eagle, and historic figures such as Presidents Abraham Lincoln and George Washington holding the Bill of Rightsโ€”the painting is valued at $3 million to $5 million. It serves as a poignant reminder of unity and resilience during times of challenge.

Hans Hartung Masterpiece Sells for $1.4 Million at Piguet Auction House

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Piguet Hรดtel des Ventes in Geneva, Switzerland, set new benchmarks in the art world this week, as a major work by the renowned abstract painter Hans Hartung fetched CHF 1.2 million ($1.4 million USD) at auction, placing it among the top 10 highest-selling pieces by the artist globally. This milestone, achieved in a somewhat challenging international art market, underscores Genevaโ€™s growing importance as a key destination for high-profile art auctions.