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Klimt’s Last Great Portrait Sets New Auction Record

GUSTAV KLIMT, DAME MIT FÄCHER (LADY WITH A FAN), 1918. SOLD FOR £85,305,800.

Ahead of the evening’s star lot going under the hammer and setting a new European record for an artwork, the London summer sales opened with The Now Evening Auction, offering both established collectors and new audiences the opportunity to secure works by the art stars of the present and future. Among them, Adrian Ghenie, Mark Bradford and Caroline Walker, whose evocative and serene Red Sky Morning found a new buyer at £457,200. Addressing the outstanding demand for young and emerging artists from the figurative to the abstract, the sale saw auction records for Arthur Jafa and Michel Majerus, in an auction that goes from strength to strength.

Following the Now sale, The Modern and Contemporary Evening Auction opened to a crowded sale room, abuzz with anticipation and assembled under the watchful eye of Gustav Klimt’s Dame mit Fächer (Lady with a Fan). Appearing on the market for the first time in thirty years, the atmosphere reflected the rarity of the occasion.

Watch Gustav Klimt’s Dame mit Fächer (Lady with a Fan) set a new auction record of £85.3 million

Found on the easel in his studio at the time of his death, the captivating depiction of a nude figure reveals Klimt exploring a new approach to colour and form, resulting in a masterpiece by an artist at the height of his powers. After a ten-minute bidding battle between four clients on the phones and in the room, the painting soared to £85.3 million, setting a new auction record for a work of art in Europe, and also for Gustav Klimt. The result is also the second highest price for any portrait ever sold at auction.

LUCIAN FREUD, NIGHT INTERIOR, 1968-69. SOLD FOR £9,586,700.

Against the backdrop of a city-wide celebration of portraiture, heralded by the reopening of the National Portrait Gallery, the sale included a dedicated sequence of works surveying this genre through the ages, and placing the portrait centre stage. Face to Face presented a journey through more than 100 years of art history, celebrating not only the great masters of the 20th Century, but equally the innovators of the present day.

Jenny Saville, Shadow Study, 2006-07. Sold for £3,436,000.

Tom Eddison, Senior Director of contemporary art, explains: “While the human image has been democratised in our age of iPhones and selfies, the tradition of portraiture runs deep and across many centuries”. Works by Lucian Freud, Kerry James Marshall and Leonor Fini displayed the breadth of creative dynamism in a discipline that has long captivated artists, from Rembrandt to Banksy.

Frank Auerbach, Mornington Crescent, 1969. Sold for £5,565,200.

Freud’s quiet and contemplative study of Penny Cuthbertson, Night Interior, sold for £9.6 million in its auction debut, whilst Jenny Saville’s Shadow Study reached £3.4 million. Previously held in the collections of two of the great art dealers of the 20th century, Aimé Maeght and Jan Krugier, Alberto Giacometti’s spirited bust of his brother Diego, Buste de Diego au col roulé, sold for £5.5 million, proving sculpture still packs a punch when offered at auction.

Cy Twombly, Untitled, 1970. Sold for £8,962,640.

Other noteworthy results of the evening included Cy Twombly’s Untitled from the artist’s revered Blackboard series. The deeply expressive and energetic 1971 canvas, which marks a departure from the customary black and white – here rendering his iconic loops in umber and grey – hammered down for £8.9 million. Many comparable paintings are housed in renowned museum collections such as The Museum of Contemporary Art in Los Angeles and The Solomon R. Guggenheim Museum in New York, demonstrating the calibre of works on offer in the sale.

Elsewhere, René Magritte’s Le savoir achieved £4.1 million, and Frank Auerbach’s Mornington Crescent, part of Britain’s Visionaries: Masterpieces from a Distinguished Private Collection, rose to £5.6 million after a lively bidding battle on the phones. The three works by Auerbach surpassed their pre-sale estimates, with E.O.W. on her Blue Eiderdown VII selling for £4.5m and J.Y.M. Seated II achieving £1.1m.

Kerry James Marshall, Untitled (Woman Looking Left), 2016. Sold for £3,073,000.

The London evening sales reached a combined total of £199 million/$252.9 million. The sale series continues on Wednesday 28 June with the Modern and Contemporary Day Auction at 10.30am GMT.

 

POSTED WITH PERMISSION. COPYRIGHT SOTHEBY’S. Click to read original article.

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