Preview: The November Art Auctions in New York, 18th-22nd November 2024

It will be interesting to see how the recent US election will affect the art market. I envisage it might be a good (though not awesome) sale series this term. Riotously successful financial markets have reacted as one would expect having had their furnaces filled with quickfire promises of de-regulation and tax cuts. However, the promise of future wealth has seldom flowed into the art markets quickly. It has often been the case of weary art markets being the last to find their feet following spirited equity growth. This is due to the client base wanting to keep their funds in the markets as growth occurs. Why spend millions on the stable, gold-like asset class, of blue-riband works of art if equities are on 10-20% rallies. That said, I see huge opportunities in these sales – notably in the two fabulous private collections up for grabs.

The Evening sales this term include two large private collections, that of the designer Mica Ertegun (of MAC II fame) and the beauty industry titan Sydell Miller. At Christie’s the Ertegun sale boasts a large work from the ‘L’Empire des lumières’ by René Magritte as well as two marvellous interior paintings by David Hockney: ‘Three Chairs…’ and ‘Still-Life on a Glass Table’. Over at Sotheby’s, Miller’s collection includes a jaw-dropping Kandinsky ‘White Oval’ amongst masterpieces by Pablo Picasso and Claude Monet.

The multiple-owner sales are also strong with some outstanding pieces such as this Joan Mitchell of 1955, being sold for charity, at Christie’s. Sotheby’s are offering a superb early 80s de Kooning, showing the convergence of styles from the thick impasto works of the 70s to the lyrical, curved forms of the 80s: De Kooning ‘Untitled XXV’. There are also wonderful, earlier works by Signac, Cezanne and Rodin that are well worth a look in an opportunity-filled market!

All the main auctions/sales and their websites are listed below:

18^th November 2024

Sotheby’s, New York, Miller Collection Evening Sale at 1800 EST

Sotheby, New York, Modern Evening Sale at 1900 EST

19^th November 2024

Sotheby’s, New York, Miller Collection Day Sale at 0900 EST

Sotheby’s, New York, Modern Day Sale at 1100 EST

Phillip’s, New York, Modern & Contemporary Evening Sale at 1700 EST

Christie’s, New York, Ertegun Collection Part I at 1900 EST

Christie’s, New York, 20th Century Evening Sale at 2000 EST

20^th November 2024

Christie’s, New York, Ertegun Collection Part II at 1000 EST