Art Basel 2017 Preview Day: Sales, News, & Links- June 14th Edition

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Art Basel 2017 Preview Day: Sales, News, & Links- June 14th Edition

Art Basel Selected Sales from Preview Day

Mnuchin Gallery:

Mark Bradford, Smear, 2015: $5 Million

Lee Bontecou, Untitled, 1963: $250,000

Sean Scully, Every Night, 1984: $600,000


Jack Shainman:

El Anatsui, Blema, 2006: $1.7 Million

Kerry James Marshall, Untitled, 2017: $800,000

Lynette Yiadom-Boakye, Night Owl at Nantwich, 2017: $130,000

Barkley L. Hendricks, Woody, 1973: $750,000
 

Lehmann Maupin:

Do Ho Suh, Main Entrance, 348 West 22nd Street, New York, NY 10011, USA, 2016: $350,000-$400,000

Shirazeh Houshiary, Effuse, 2017: GBP 100,000-150,000

Robin Rhode, Inverted Cycle, 2016: EUR 50,000-60,000
 

David Zwirner:

A 1986 Sigmar Polke "for almost $9 million"

Marlene Dumas works-on-paper and paintings ranging from between $150,000-$3 million


Gagosian:

Per Nate Freeman of ArtNews, most of the booth was sold out by lunch time racking up close to a stunning $50 million in sales


Acquavella Galleries:

Jean-Michel Basquiat, Three Delegates, 1982: $18 million
 

Hauser & Wirth:

Eva Hesse untitled work priced at 2.5 million

Philip Guston, Sacred Stiff, 1970: close to $15 million


Di Donna:
A Gerhard Richter painting for $5 million
 

Additional selected sales will be reported in this space as the fair progresses throughout the week. Still to come are sales from Levy Gory, Metro Pictures, Paula Cooper, Skarstedt, Lisson and many more. 
 

Spotted
Steven A Cohen, Eli Broad, Dasha Zhukova, and the Rubells were just a few of the many prominent European, Asian, and American collectors in attendance on the fair's first day. 


News & Links

Follow the Money: Art Basel and UBS are inextricably linked in many people's minds. The Swiss bank has been the main sponsor of Art Basel (and its sister fairs of Art Basel Miami Beach and Art Basel Hong Kong) for as long as we can remember. That's why it was somewhat surprising to read about so many other banks candidly discussing sending representatives to this year's iteration of the fair to either service existing clients or even to swoop in and snag a new client or two. Reps from Bank of America, Morgan Stanley, Citigroup, and Vontobel Holding AG are all on the record stating the importance of Art Basel in the global art fair circuit (duh) and how they're angling for some of the action. [Bloomberg]  

Game of Thrones at The Met?: As we're sure you know by now, (if you don't, then why are you reading this newsletter in the first place?) Daniel Weiss has officially been named the president and chief executive officer of The Met. While this isn't necessarily surprising in and of itself- Weiss was widely expected to stay on in leadership of the museum- the change in the leadership structure and reporting lines did cause a few raised eyebrows among certain Met Kremlinologists. Whomever the new director of the museum will be, he or she will now report directly to Weiss rather than the other way around. As Robin Pogrebin notes in her article, certain anonymous sources are whispering about whether this was perhaps Weiss's plan from the beginning since he originally raised the issue of that looming $40 million deficit the museum is facing. [The New York Times

Qatari Blockade: Unsurprisingly, it seems as if President Donald Trump has inserted himself yet again- though this time indirectly- into a situation that will limit the world's enjoyment and patronage of the arts. While certainly less egregious than his asinine opposition to the NEA, and in an admittedly more complex situation with diplomatic and national security interests to balance, Trump's urging of Saudi Arabia, the UAE, and other Gulf states to break off diplomatic relations with Qatar has caused some to worry about the effect this will have on Qatar's myriad cultural (and educational) institutions. [The Art Newspaper]



Extra Reading

Nate Freeman's full recap from Day 1 at Art Basel over on ArtNews.com

Judd Tully's recap of Art Basel's Preview Day can be found on his personal website at JuddTully.net

Julia Halperin has a nice take with an article listing all the Basquiats currently on offer at the fair on ArtNet

Alexander Forbes offers his take on the mood and optimism currently permeating throughout the halls of Messe Basel on Artsy.net 

 

Art Basel Satellite Fairs

Scope Basel (through June 18th)

Design Miami/Basel (through June 18th)

Liste (through June 18th)

Volta13 (through June 17th)

Photo Basel (through June 18th)
 

Have tips, comments, feedback, or questions? Email us at Editorial@thecanvas.online. We'd love to hear whatever news, sales, or gossip you have to offer up!