PHILADELPHIA — Freeman’s reports its first online fine art sale of 2020 on May 14 was highly successful. The 58-lot Modern & Contemporary Art auction had a sell-through rate of 95% and achieved over $1 million, just shy of its high estimate. Strong prices were achieved for Latin American, English and iconic American Pop artists. With many consignments from private New York collectors, the auction included notable works by Henri Matisse, Pablo Picasso, Diego Rivera, and Andy Warhol. Absentee and Internet live bidding was available through LiveAuctioneers.
“We were delighted to see that the market remains competitive for top works by blue-chip artists, and to achieve an enviable sell-through rate in our first online fine art sale,” said Dunham Townend, head of Freeman’s Modern & Contemporary Art Department. With this most recent success, Freeman’s raises its average sell-through rate for its 2020 fine auctions to 93.5%.
The sale was led by Chanel (above), an iconic print from Andy Warhol’s, Ads series, which sold for $175,000 — nearly the high end of its estimate. This price is the second-highest ever fetched at auction for this important screenprint. Robust interest and spirited bidding from the East and West Coasts, as well as from Europe, culminated in one of the highest auction prices ever achieved for this iconic Pop image.
Skoob Assemblage (below) by British Modernist John Latham was a runaway success. Bidders from the United Kingdom, Europe and America competed vigorously for this fresh-to-market assemblage by one of England’s most celebrated conceptual artists. The work more than quintupled its low estimate, realizing $27,500.
Similar spirited bidding drove Lynn Chadwick’s Pair of Cloaked Figures to sell for $43,750. This quintessential example by the revered British sculptor had been in a private New York collection since 1978.
These robust results continue Freeman’s long-established history of success with Modern British artists including William Scott, Henry Moore and John Hoyland.
Two paintings and two works on paper by renowned Venezuelan artist Oswaldo Vigas drew significant attention from bidders worldwide. These works were acquired over many years of friendship between the artist and Freeman’s consignor. Caraqueña, and Merideña, two oil on canvases from 1967, exceeded their estimates of $10,000-$15,000, realizing $16,250 and $12,500, respectively; while two Untitled works on paper each exceeded their high estimate, achieving $4,063 and $4,688.
Strong prices were also achieved for works by many other internationally renowned and sought after artists. Other notable results include $46,875 for Pablo Picasso’s Face with Black Nose and Alex Katz’s Yellow Road; $32,500 for Diego Rivera’s Seated Woman; $25,000 for George Rodrigue’s Blue Over You; and $18,750 for Henri Matisse’s Soldat Marocain et Hamido.
For details contact Freeman’s Dunham Townend at dtownend@freemansauction.com or 267-414-1221.
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