Art Basel 2017 Preview Day: Sales, News, & Links- June 14th Edition
Art Basel Selected Sales from Preview Day
Mark Bradford, Smear, 2015: $5 Million
Lee Bontecou, Untitled, 1963: $250,000
Sean Scully, Every Night, 1984: $600,000
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
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
A 1986 Sigmar Polke "for almost $9 million"
Marlene Dumas works-on-paper and paintings ranging from between $150,000-$3 million
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
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
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.
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]
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
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!