Powered by an iconic, dazzling and record-breaking Andy Warhol portrait of display screen siren Marilyn Monroe, the gathering of the late Swiss artwork dealing siblings Thomas and Doris Ammann reached $273m ($317.8m with charges) at Christie’s New York on Monday evening. Pre-sale expectations ranged from $284m-$420m, indicating partly the tumbling impact of a brutal day on Wall Avenue and throughout different monetary markets.
Solely two of the 36 tons provided went unsold for a slim buy-in fee by lot of six p.c. There have been no ensures or third celebration backing, seemingly reflecting the arrogance of the sellers. Seven artist information had been set.
The entire web proceeds will profit the just lately established Swiss-based Thomas and Doris Ammann Basis aimed toward bettering the well being, welfare and training of underprivileged and in danger kids.
The outcomes made it the second-most costly single-owner sale at Christie’s, lagging far behind the $646.1 million tally of the gathering of Peggy and David Rockefeller in Might 2018—and final November’s first sale of the Macklowe Assortment at Sotheby’s, which fetched (additionally with charges) $676.1 million.
The siblings established Thomas Ammann Wonderful Artwork AG in Zurich in 1977 and quickly grew to become a world-class dealership, specialising within the secondary market works of artists together with Francis Bacon, Alberto Giacometti, Henri Matisse and Pablo Picasso, in addition to Brice Marden and Andy Warhol.
The headline of a 1988 Self-importance Honest profile on the charismatic Thomas, who started his artwork dealing profession at age 18 with gallerist Bruno Bischofberger in Zurich, was titled “Ammann of Type” and described a jet-setting seller who “lives on the Concorde”.
Ammann died of most cancers at age 43 in 1993, at which period sister Doris took over the enterprise and nimbly grew it—and was all the time granted a entrance row seat at auctions in New York, London and Paris. She died immediately in March 2021 at age 76.
The night acquired off to a raucous begin with prankster artist Mike Bidlo’s Not Picasso (Bather with Beachball, 1932) from 1987, which bought for a file hammer value of $1m (est $60,000-$80,000), or $1.2m with charges. It final bought at Sotheby’s New York in Might 2009 for $37,500.
The ambiance grew barely extra severe with the third lot, Francesco Clemente’s large-scale composition The Fourteen Stations, No. XI (1981-82) that bought to mega-collector Peter Brant for a file $1.5m (est $80,000-$120,000), or $1.8m with charges. Emblematic of the night’s tons, the Clemente had royalty-lined provenance, beginning with the Saatchi Assortment.
Francesco Clemente, The Fourteen Stations, No. XI, 1981-82 Courtesy Christie’s Pictures Ltd.
Brant got here again to snare Alberto Giacometti’s ornamental plaster Vase modèle dit aigle from round 1934 for $1.4m (est $500,000-$700,000), or $1.7m with charges.
Worth factors skipped a beat and leapt greater with, Andy Warhol and Jean-Michel Basquiat’s collaborative pastiche GE/Cranium from 1984-85 that bought for $3.8m (est. $2m-$3m), or $4.6m with charges. In associated trend, Robert Ryman’s petite, 12in sq. and exquisitely white Untitled (1961) raced to $3.2 million (est $1.5m-$2m) or $3.9m with charges. Ammann acquired it in 1977 from the Peder Bonnier Gallery in New York.
A second and bigger Ryman in oil on linen from round 1961, additionally Untitled but laborious to overlook with its upper-right-hand quadrant dense with wealthy brushstrokes, bought to a phone bidder for $17.2m (est $15m-$20m), or $20.1m with charges.
Extra heavyweight choices got here rapidly with Cy Tombly’s lush and jumbo-scaled abstraction Venere Sopra Gaeta from 1988, housed within the artist’s body. It bought to New York seller Larry Gagosian for $14.5m (est $10m-$15m), or $16.9m with charges.
A second Twombly made hay with the early, 1955 Untitled, elegantly studded with graffiti markings and executed in a mélange of oil-based home paint, wax crayon, colored pencil and lead pencil on canvas, additionally went to Gagosian, bidding from his third row, aisle seat for a hammer value of $18m (est $10m-$15m), or $21m with charges.
Although a comparatively early and distinctly Minimal abstraction by Brice Marden, For Otis (Again Collection) from 1967-68 and executed in oil and beeswax on canvas didn’t promote (est $5m-$7m), a second Marden providing, Le Mien (1976), dominated by dark-hued vertical stripes, bought to (you guessed it) Gagosian for $7m (est $8m-$10m), or $8.4m with charges.
Jean-Michel Basquiat, His Glue Sniffing Valet, 1984 Courtesy Christie’s Pictures Ltd.
One of many night’s most evocative tons, if by title solely, Basquiat’s gritty His Glue Sniffing Valet (1984), depicting a scowling determine in a wheelchair with a standing determine behind, the face obscured by a paper bag went, for a $6m hammer value (est $6m-$8m), or $7.2m with charges. Ammann acquired the work from the Mary Boone Gallery in SoHo on the time of Basquiat’s first exhibition there.
German artwork was additionally in ample proof as Martin Kippenberger’s power-packed self-portrait with a bearded determine in crimson, Untitled (1992), bought to New York- and London-based seller Per Skarstedt for a $3.1m hammer (est $3m-$5m), or $3.7m with charges. A racy figurative scene by A.R. Penck bought to a phone bidder for $450,000 (est $100,000-$150,000), or $567,000 with charges.
Of the 4 works by girls artists featured within the sale, Ann Craven’s 60in by 48in canvas I wasn’t Sorry (2003), depicting a fuzzy trio of perched birds, hit a file $540,000 (est $20,000-$30,000), or $680,400 with charges.
Of the trio of Warhol choices, two stood out, beginning with the large-scale Flowers from 1964, bearing ghost-white petals and a darkish inexperienced background. It hammered at $13.5m (est $15m-$20m), or $15.8m with charges. Amman acquired it at Sotheby’s in November 1983 when the pre-sale estimate was $50,000-60,000 and excitedly referred to as the artist with the information. The dialog wound up in The Andy Warhol Diaries, first revealed in 1989 (and just lately used as the idea for a Netflix documentary sequence of the identical title).
The saleroom at Christie’s in the course of the sale of Andy Warhol’s Shot Sage Blue Marilyn (1964) Courtesy Christie’s Pictures, Ltd.
The night’s cowl lot and maybe the season’s costliest trophy, was Warhol’s 40in sq. Shot Sage Blue Marilyn of 1964, so titled after Warhol Manufacturing unit hanger-on Dorothy Podher who, clad in black leather-based and white gloves, entered the studio in Warhol’s presence that yr, calmly took a pistol from her purse and shot a stack of variously single-coloured Marilyn canvases, precisely aiming for the starlet’s brow.
The bidding battle opened at a gasp-producing $100 million and charged heavenwards to a record-shattering$170 million, promoting to Gagosian. With charges, the sticker value got here to $195m, in opposition to an unpublished estimate of $200m. It blasted previous and virtually doubled the earlier Warhol file set at Sotheby’s New York in November 2013 with Silver automobile crash (Double catastrophe) (in 2 elements) from 1963, which fetched $105.4m.
Of the small, same-size sequence of 5, Shot Crimson Marilyn bought for $3.6m at Christie’s New York in November 1994. The sage blue model escaped injury from the well-known shot.
It’s understood that one other variant, Orange Marilyn, additionally untouched by Podher’s bullet, was acquired privately 4 years in the past by Chicago hedge fund magnate and collector Ken Griffin for $250m. It had beforehand bought as the duvet lot for $17.3m at Sotheby’s New York in Might 1998.
In any case, tonight’s Marilyn grew to become the most costly twentieth century work to promote at public sale, charging previous Pablo Picasso’s Les Femmes d’Alger (Model ‘O’) from 1955 that bought at Christie’s New York in Might 2015 for $179.3m with charges.
Christie’s had introduced the brand new proprietor may choose a charity of option to obtain 20% of the sale value, probably providing one other incentive to bid. Even given the massive value and charitable encouragement, some observers appeared disillusioned the Warhol didn’t fly greater. “I believe individuals anticipated slightly bit extra,” mentioned seller Per Skarstedt as he exited the Rockefeller Middle salesroom.
The night motion continues at Christie’s twenty first century sale on 10 Might.
