Nine contemporary artists make their mark in London

 

In the art market history is made every day. Any auction could see an artist’s work sell for a new all-time high. This year, in three days from 26 to 28 June, we saw no less than 71 record prices set for artists around the world. Nine of these were at the sales of contemporary art held by Sotheby’s and Christie’s in London.

Among them was the Spanish artist Miquel BARCELO who exhibited recently at the Fondation Maeght. Prices for his canvases rose by 172.7% between 1997 and 2001 and enthusiasm for his work shows no sign of abating. Result: records are broken whenever exceptional pieces come up for auction. The very large format “Autour du Lac Noir” was put up at Sotheby’s evening sale on 26 June 2002 with an estimated price of GBP300,000-600,000. It sold for GBP850,000. The work of Canadian Jean-Paul RIOPELLE who died in March, also performed exceptionally well. “Composition” 1951 went under the hammer at Christie’s for GBP570,000, nearly four times its high estimate. Jean-Paul RIOPELLE’s index is in a steady ascendant: up 58% since 1997. You can catch a retrospective show at the Beaux-Arts, Montreal until 29 September.

More surprising was the sale of four 1992 canvases by Britain’s Mark WALLINGER, all in the same format and entitled “Race Class Sex” with an estimated price of GBP20,000-30,000. The four near-photographic images, which draw on the theme of the race horse, are identical apart from the choice of mounting. Bidding was initially lively, driving up the price for the first of the four to GBP75,000. Then, mysteriously, once the first horse was down the buyers decided to leave the other three alone. Also noteworthy was the debut at auction of American Bill VIOLA one of whose installations sold for GBP40,000.

Generally, these London sales celebrated emerging British artists such as Antony GORMLEY and Michael LANDY. Once again they underline the vigorous health of the UK’s contemporary art scene

Auction Records for the contemporary art sales
at Sotheby’s and Christie’s from June 26 to June 28 2002 recorded by Artprice

Artist

Title

Hammer Price

estimate

Auctioneer

Miquel BARCELO

Autour du lac noir

GBP850,000 GBP300,000 – 600 000 Sotheby’s

Mark WALLINGER

Race Class Sex

GBP75,000 GBP20,000 – 30,000 Sotheby’s

Antony GORMLEY

Keep

GBP50,000 GBP40,000 – 60,000 Sotheby’s

Lucio FONTANA

Concetto Spaziale, II cielo di Venezia

GBP1,250,000 GBP600,000 – 800,000 Sotheby’s

Michael LANDY

Costermonger’s Stall

GBP20,000 GBP20,000 – 30,000 Sotheby’s

Olafur ELIASSON

Untitled

GBP7,000 GBP4,000 – 6,000 Sotheby’s

Elizabeth PEYTON

Mattthew

GBP75,000 GBP30,000 – 40,000 Christie’s

Bill VIOLA

Incrementation

GBP40,000 GBP40,000 – 60,000 Christie’s

Jean-Paul RIOPELLE

Composition

GBP570,000 GBP100,000 – 150,000 Christie’s