5 Takeaways From March 2017 Auctions

New records for Asian art and a $59 million Klimt

Amedeo Modigliani, Portrait de Baronowski (1918). Courtesy Sotheby's.
Amedeo Modigliani, Portrait de Baronowski (1918). Courtesy Sotheby's.

Data collected from the artnet Price Database offers insight into changes in the market including notable, record-breaking sales. In this monthly series, with the help of the artnet Price Database, we aim to fill you in on some of the more interesting facts, numbers, and stories that we find.

In March, new records were set for Asian art and nearly 1,000 new artists were added to our database.

Gustav Klimt, <i>Bauerngarten (Blumengarten)</i> (1907). Courtesy Sotheby's.

Gustav Klimt, Bauerngarten (Blumengarten) (1907). Courtesy Sotheby’s.

 

1. The highest selling lot in March came on the very first day of the month. Gustav Klimt’s oil painting Bauerngarten (Blumengarten) (1907) sold for £47.97 million ($59 million) during the Impressionist and modern art evening sale at Sotheby’s London. The lot is the second most expensive Klimt sold at auction to date.

Late Shang Dynasty bronze wine vessel. Courtesy Christie's Images Ltd.

Late Shang Dynasty bronze wine vessel. Courtesy Christie’s Images Ltd.

2. A late Shang dynasty bronze wine vessel was the most expensive decorative art lot sold during March. The nearly two-foot tall ritual item sold for $37.2 million at Christie’s New York during the “Important Chinese Art from the Fujita Museum” sale. The auction realized a total of $262.8 million. According to Christie’s, the sale total broke the record for all Asian Art week sales.

3. During the same Christie’s New York auction, a record was achieved for a work by 13th-century Chinese scroll painter Chen Rong. Six Dragons, a hand scroll that spans more than 15 feet, fetched a price just under $49 million. Works by the artist were also offered at sales by Beijing Hanhai Auction Co., Kunsthaus Lempertz, and China Guardian, among others.

Asli Özok, <i>Rabia</i> (2016). Courtesy Christie's Dubai.

Asli Özok, Rabia (2016). Courtesy Christie’s Dubai.

4. A total of 934 new artists entered the auction market and were added to the artnet artist database. One of these names was Turkish artist Asli Özok, whose vibrant oil painting, Rabia, was sold by Christie’s Dubai on March 18 for $32,500.

Gösta Adrian-Nilsson, <i> Landschaft</i> (1917). Courtesy Schmidt Kunstauktionen, Dresden

Gösta Adrian-Nilsson, Landschaft (1917). Courtesy Schmidt Kunstauktionen, Dresden

5. A watercolor by Swedish modernist Gösta Adrian-Nilsson sold soared above estimate during the March 25 Fine Art auction at Schmidt Kunstauktionen. Landschaft was estimated at €7,000 ($7,559) and sold for €240,000 ($259,179).


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