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contemporary art

Heritage Auctions’ 2 modern & contemporary art sales total $6.8M

Tom Hoepf
Tom Hoepf
Fernand Léger (1881-1955), ‘Composition,’ 1925, watercolor on paper. Price realized: $250,000. Heritage Auctions image.
Fernand Léger (1881-1955), ‘Composition,’ 1925, watercolor on paper. Price realized: $250,000. Heritage Auctions image

 

DALLAS – A record-setting season of fresh-to-market modern and contemporary art surpassed $6.86 million and set a house record during Heritage Auctions’ spring offering, including its first auction dedicated to prints and multiples.

“Once again, we proved Heritage’s distinct competitive advantages in the middle market,” said Frank Hettig, director of Modern & Contemporary Art. “Last spring our auction reached $3.8 million and unlike other houses where sales have dramatically reduced in size, we have grown selling more six-figure works than ever before.”

The New York sale held May 2 was 78 percent sold by value and set a record for the highest number of six-figures lots selling at a Heritage art auction. In the afternoon session, bidders focused on international artworks such as Composition by Fernand Léger (above), a classic 1925 watercolor that soared past its $150,000 low estimate selling for $250,000. In addition, Woman in the Kitchen (below), 1981 by Fernando Botero surpassed expectations to sell for $225,000.

 

Fernando Botero (b. 1932), ‘Woman in the Kitchen,’ 1981, watercolor on paper. Price realized: $225,000. Heritage Auctions image.
Fernando Botero (b. 1932), ‘Woman in the Kitchen,’ 1981, watercolor on paper. Price realized: $225,000. Heritage Auctions image

 

The much-anticipated evening session saw postwar American contemporary artists take center stage as Helen Frankenthaler’s Tantric (below), 1977, quickly sold for $610,000.

 

Helen Frankenthaler (1928-2011), ‘Tantric,’ 1977, acrylic on canvas. Price realized: $610,000. Heritage Auctions image.
Helen Frankenthaler (1928-2011), ‘Tantric,’ 1977, acrylic on canvas. Price realized: $610,000. Heritage Auctions image

 

The cover lot, Willem de Kooning’s 1968 East Hampton II (below) sold near the high estimate for $802,000.

 

Willem de Kooning (1904-1997), ‘East Hampton II,’ 1968, oil on paper laid on canvas. Price realized: $802,000. Heritage Auctions image
Willem de Kooning (1904-1997), ‘East Hampton II,’ 1968, oil on paper laid on canvas. Price realized: $802,000. Heritage Auctions image

 

Ice Bucket (below), 1986 by Jeff Koons – direct from the collection of lifelong arts patron Anita Reiner – sold for $370,000.

 

Jeff Koons (b. 1954), ‘Ice Bucket,’ 1986, cast stainless steel. Price realized: $370,000. Heritage Auctions image
Jeff Koons (b. 1954), ‘Ice Bucket,’ 1986, cast stainless steel. Price realized: $370,000. Heritage Auctions image

 

USA-1, 1984, an iconic, oil on burlap by Keith Haring, saw fierce competition that pushed the auction price to $162,500; and Untitled (four works), 1999 by urban artist KAWS sold for $131,250.

The May 24 sale in Dallas – Heritage Auctions’ first dedicated offering of Modern & Contemporary Prints & Multiples – was 80 percent sold by value. The cover lot, Medusa Head (below), 1986, by Keith Haring finished at $52,500 setting a world record price for the print at auction.

 

Keith Haring (1958-1990), ‘Medusa Head,’ 1986, aquatint on paper. Price realized: $52,500. Heritage Auctions image
Keith Haring (1958-1990), ‘Medusa Head,’ 1986, aquatint on paper. Price realized: $52,500. Heritage Auctions image

 

Three unique screenprint variations of Andy Warhol’s famous Dollar Signs from 1982 claimed top lot honors: $ (9) Black sold for $106,250; $ (9) White sold for $96,875, both against $80,000 pre-sale estimates. $ (Quadrant), 1982 exceeded its $80,000 high estimate to sell for $87,500.

 

Click here to view the fully illustrated catalog for this sale, complete with prices realized.

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