Artmarket.com: Is it better to sell a masterpiece in the provinces? Artprice looks at the Top 5 sales outside the art market’s capital cities
AsiaNet 87773
PARIS, Jan. 26, 2021 /PRNewswire=KYODO JBN/ --
Masters Week in New York is the art market’s first major event of the year
2021. Sotheby’s evening session on 28 January will be offering masterpieces by
Botticelli (estimated $80 million), Rembrandt ($20-30 million), Hugo Van der
Goes ($3-5 million) and Guido Reni ($1.2 - 1.8 million). By coincidence,
another painting by Guido Reni (Cleopatra) will be offered the same day in
Toulouse under Marc Labarbe’s hammer and under the watchful eye of Eric
Turquin. The latter’s team of experts conducted the examination and appraisal
of the Cleopatra and have estimated the work between $95,000 and $145,000.
However the quality of the painting could well raise the price and it seems
likely that the upside will be just as potent in Toulouse as it would be in New
York.
“Eric Turquin and Marc Labarbe are repeating the operation attempted a year and
a half ago with the 'Caravage de Toulouse', even if the circumstances are quite
different,” says thierry Ehrmann, President and Founder of Artmarket.com and
its Artprice department. “Of course, Guido Reni and Caravaggio are not at all
on the same market footing. However, since the Caravaggio sale, much has
evolved: first, Turquin and his team have had several opportunities to
demonstrate that their strategy of selling works before restoration and as
close as possible to the place they were found can be very effective, and
secondly the pandemic has pushed a large section of the global art market into
the online environment, a significant advantage for this kind of strategy."
Attracting international demand
Like the Toulouse Caravaggio, Guido Reni’s Cleopatra was found by chance in
Toulouse, where it will be sold by Marc Labarbe on 28 January 2021 and is
unlikely to stay there very long. And indeed (we ask) what exactly would be the
logic of trying to sell it in New York, London or even Paris when the painting
obviously interests numerous collectors and museums all over the world?
In recent months, American buyers have been the best clients for Eric Turquin’s
findings: the Toulouse Caravaggio appears to have joined Tomilson Hill’s
collection; the Cimabue from Senlis has gone to the Alana collection and the
Master of Vyssi Brod from Dijon now belongs to the Metropolitan Museum of New
York.
Sending an artwork across the Atlantic and engaging the services of a major
auction house entails massive costs which cannot always be justified today. The
lockdowns have accelerated the switch to online of a whole section of the
auction market and this trend is somewhat undermining the logic of maintaining
large sales structures in the centres of the art market’s major capitals.
Are artworks just as beautiful wherever they are?
The prestige of a major auction house and a large city undoubtedly helps to
attract international demand. But is all this “staging” really necessary? This
question is to a certain extent a question about the ‘efficiency’ of the art
market: put another way, does the price of a work depend on the circumstances
of its sale? Whatever the answer, it seems fair to say that a certain degree of
correlation exists between the two.
Although scheduled to appear in a sale of Old and Modern Paintings in the south
of France, Guido Reni’s Cleopatra has been the subject of a very specific
examination, the details of which have been presented in a dedicated catalog.
Marc Labarbe (the auctioneer) and Eric Turquin (the appraiser and valuer) are
clearly confident that having conducted all the necessary research and having
publicized the sale around the entire planet, the work no longer needs the
support of prestigious Anglo-Saxon houses to attract the most likely
international buyers.
Top 5 auctions outside the art market’s major capitals*
(C) Artprice.com
1. Cimabue (XIII), Christ Mocked - $26.8 million 10/27/2019 - Hotel des Ventes
de Senlis.
2. Francesco Guardi (1712-1793), View of the Giudecca and the Zattere in Venice
- $14.9 million, 12/01/1989 - Sotheby’s, Monte Carlo.
3. Raden Saleh (1814-1880), La Chasse au taureau sauvage (1855) - $11.1
million, 01/27/2018 - Jack-Philippe Ruellan, Vannes.
4. Marc Chagall (1887-1985), Le village en fete (1978) - $10.8 million,
06/21/2002 - Kornfeld Galerie & Cie, Berne.
5. Frans Francken II (1581-1642), Der Mensch [...] (1635) - $9.5 million,
04/21/2010 - Dorotheum, Vienna.
* New York, London, Paris and China
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