Basquiat artwork sells for $498,000 at Clars Auction Gallery

Basquiat

The highlight of the auction was ‘Untitled (Arto Lindsay)’ by Jean-Michel Basquiat (American, 1960-1988), which sold for $497,500. Clars Auction Gallery image

 

OAKLAND, Calif. – An untitled work on paper by Jean-Michel Basquiat (American, 1960-1988) sold for an astounding $497,750 at Clars Auction Gallery’s sale on May 20-21. Absentee and Internet bidding was available through LiveAuctioneers.

Basquiat created the portrait of fellow New Yorker and musician Arthur Morgan Lindsay, aka Arto, in 1982. It has been in private hands since 2001. The highly anticipated drawing had an estimate of $70,000-$100,000.

The art world took note of this sale and competed vigorously for the Basquiat and several other works, driving prices well over high estimates. The sale, which realized $2.5 million, offered important property from several major museums, collections and estates.

Redge Martin, president of Clars commented, “The staff worked hard to obtain an exceptional group of items for our major May auction, particularly fine art. Many of the important pieces came from clients who’d been pleased with results we’d gotten for them previously.”

The impressive prices didn’t end with Basquiat, as bidders kept up a furious pace among many genres. An oil on canvas by the daughter-in-law of Claude Monet, the famous French Impressionist painter Blanche Hoschede Monet (French 1865-1947) created the next work to sell for a notable amount. Her painting of the small Japanese bridge on the pond, which Claude Monet built in homage to Japanese woodblock prints, was estimated to achieve $90,000, but landed nicely above estimate at $97,000.

 

Basquiat

This oil on canvas by Blanche Hoschede Monet (French 1865-1947) titled ‘Le Petit Pont Japonais a Giverny,’ soared past high estimate, selling for $97,000. Clars Auction Gallery image

 

The untitled oil on canvas (below) by Sohrab Sepehri (Iranian, 1928-1980) continued this trend coming to the sale with high estimate of $70,000 but achieving well past that, going out at $94,500.

 

Basquiat

This untitled oil on canvas by Sohrab Sepehri (Iranian, 1928-1980) came to the sale with high estimate of $70,000 but sold for $94,500. Clars Auction Gallery image

 

Performing similarly was Sonache, 1957, an oil on paper (below) by Syed Haider Raza (Indian, 1922-2016), which sold for $84,700.

 

Basquiat

‘Sonache,’ 1957, an oil on paper by Indian artist Syed Haider Raza (Indian, 1922-2016) flew past its high estimate and sold for $84,700. Clars Auction Gallery image

 

Another exceptional and rare painting offered was by Ivan Shishkin (Russian, 1832-1898). Titled Wooded Clearing, collectors vied heavily for this work, driving the price well past the high estimate to $84,700.

 

Basquiat

This painting by Ivan Shishkin (Russian, 1832-1898) titled ‘Wooded Clearing,’ sold for over high estimate at $84,700. Clars Auction Gallery image

 

One of the most important global collections of 19th century China Trade paintings from the Estate of Thomas Williamson (Orinda, California) was also offered. Many of these works were originally purchased from Berry-Hill Galleries (New York, N.Y.) and Martyn Gregory (London). This exceptional collection performed very well. Doubling high estimate was The Hongs at Canton (China, Canton Factories), a circa 1835 oil on canvas attributed to Sunqua (Chinese, fl. 1830-1870), which earned $30,250. This collection achieved an impressive $119,500.

 

Basquiat

An outstanding collection of 19th century China Trade paintings included ‘The Hongs at Canton (China, Canton Factories),’ a circa 1835 oil on canvas attributed to Sunqua (Chinese, fl. 1830-1870), which brought $30,250. Clars Auction Gallery image

 

Rounding out the top sellers was Blue, 1984, a color woodcut (50/100) by Richard Diebenkorn (American, 1922-1993) that made $54,450.

 

Basquiat

‘Blue,’ 1984, this color woodcut (50/100) by Richard Diebenkorn (American, 1922-1993) sold well above the high estimate, achieving $54,450. Clars Auction Gallery image

 

As always, Andy Warhol did not disappoint with results on the two prints offered. Both titled Sunset, 1972, these color silk screens sold for $36,300 and $33,275.

For details email Clars Auction Gallery: info@clars.com.