Impressionist and Modern Art

Dr Anton C.R. Dreesmann spent several million dollars of his fortune on Impressionist and Modern art, but, for all this expenditure, few specialists in this most expensive of all sectors of the art market seemed to have regarded Dr Dreesmann as a major collector.

Phillips have released details of a bumper sale of Contemporary art to be held in New York on May 13. The announcement came as art trade rumours persist about the reasons for the auction house postponing their May 6 sale of Impressionist and Modern art until June at the earliest.

We reported in last week’s Antiques Trade Gazette's Art Market pages on the Ellekilde, Copenhagen sale and reflected on the popularity of Scandinavian interiors. An altogether different Danish artist to enjoy success at that sale was Gerda Wegener (1885-1940), a magazine illustrator, whose work proves especially popular with an American audience.

Is there a future for Phillips de Pury & Luxembourg (15/10% buyer’s premium) now that Bernard Arnault and the financial might of the LVMH group have distanced themselves from the company and the enormous guarantees it was paying to secure high-value consignments?

With less than a month until the crunch series of Impressionist and Modern Art sales in New York, it is still not clear whether Phillips will be joining Sotheby’s and Christie’s at sales which netted the company $124m last year.

A large desert Caravane by Victor Huguet (c.1895), 4ft 4in x 6ft 8in (1.31 x 2.02m) and inspired by Fromentin, led the Delorme-Fraysse picture sale on February 12 with €82,000 (£51,200).

Against the background of the London Impressionist, Modern and Contemporary sales both the major auction players held specialist Surrealist evening sales – Christie’s (17.5/10% buyer’s premium) on February 4 and Sotheby’s (20/15/10% buyer’s premium) on the following evening of February 5.

The London art market received a major lift in the salerooms last week when Sotheby’s and Christie’s attracted remarkably strong levels of international demand for their February round of Impressionist, Modern and Contemporary auctions.

GERMANY: Joseph Beuys’ Sonnenkreuz (1947-48), a patinated bronze sculpture 15 x 81/4in (37 x 21cm), evoking a crucifix against a radiating sun, sold comfortably over estimate for DM200,000 (£64,000) at the Lempertz Contemporary Art sale in Cologne on December 5.

PARIS: A prestige series of auctions held by Tajan at the Hôtel George V just before Christmas (December 17-19) yielded just under £7m hammer.

“Fascism, charged with Idealistic values, is applauded by all of those who are legitimately able to call themselves Italian poets, novelists and painters. We are sure that in Mussolini we have the Man who will know how to value correctly the force of our Art dominating the world.”

PARIS: American buyers were to the forefront at the ArtCurial-Briest sales on December 17 and 18, held in the stylish Hôtel Dassault halfway down the Champs-Elysées, and preceded by an elegantly hung four-day viewing.

USA: Mixed signals emerged from New York’s crucial November round of Part I Impressionist and Modern sales, the most significant test of the international art market since September 11.

The London art market breathed a general sigh of relief last week after Sotheby’s and Christie’s Part I Impressionist and Modern sales belied the atmosphere of economic uncertainty with a clutch of high prices for classic works by the major names of late 19th and early 20th century art.

US: REVERED as the only Irish artist to have been fully involved in the developments of French avant garde painting during the early years of Modernism, Roderic O’Conor (1860-1940) has inspired a succession of impressive six-figure prices over the last couple of years, culminating in the £320,000 bid by a Dublin collector for a c.1903 Post-Impressionist oil, Nature Mort: Faience, at Sotheby’s June 21 sale of Modern British & Irish Art in London.

USA: Fears that the recent slowdown in the US economy would drastically affect the top end of the art market were to some extent realised at New York’s Impressionist and Modern sales last week.

UK: LEVELS of demand at Bonhams & Brooks’ (15/10 per cent buyer’s premium) March 22 sale of Modern and Contemporary British and Continental Art were less impressive than the Phillips event of March 20.

UK: Last week London saw Sotheby’s and Christie’s first ever round of major Impressionist, Modern and Contemporary sales in February.

UK: THIS looks the life! Relaxed in elegant company, high above the world and its cares on a sunlit terrace with parasols and palms.