«I LIKE MONEY ON THE WALL»

Forty four lots going up on February 12 will include two pieces by Jean-Michel Basquiat with presale estimates of close to $1 million apiece. In November, Basquiat's Brother Sausage was offered by Peter Brant but failed to sell; a successful Basquiat sale would indicate a clear turn in the market. On February 11, Christie's will offer 52 lots expected to generate revenues of more than $43 million. Pieces include Doig's 1993 Concrete Cabin West Side, with a presale estimate of $3.3 million to $5 million, and sent to auction by a British collector who bought it directly from Doig's studio. Francis Outred, Christie's European head of contemporary art, told Bloomberg News that the collector had considered selling it for about a year: "She was tipped over the edge by the $10.2 million paid for Doig's Reflection in New York in November. Klein and Kippenberger will also be represented at this auction...but some names will be noticeable for their absence." No Jeff Koons pieces, a perennial favorite, will be on auction, and only two by Damien Hirst will be available, one at Christies (estimate: $495,000) and one at Sotheby's ($578,000). The art market is moving past the likes of Koons and Hirst and is returning to artists who have demonstrated more longevity.

Dailyfinance
Jan 22 20