Showing posts with label Sotheby’s. Show all posts
Showing posts with label Sotheby’s. Show all posts

Wednesday, July 23, 2014

Court Case Claims Australian Art Market Is 30 Percent Forgeries

Detail from Albert Tucker, <em>Faun and Parrot</em>.<br />Photo: via the Australian.
Detail from Albert Tucker, Faun and Parrot.
Photo: via the Australian.
A Supreme Court case brought again Christie’s Australia indicates that there may be a widespread forgery problem in the country’s art market, and that as many as 30 percent of the works on offer could be fake, reports the Sydney Morning Herald.
The case focuses on a single painting, purchased by Loise McBride from Christie’s in 2000 for $86,000 in Australian currency (US$81,000). The piece, Faun and Parrot, is reportedly the work of late Australian artist Albert Tucker, but when McBride tried to resell it, Sotheby’s informed her that it was probably fake.
Unlike most cases of art fraud, which are settled out of court because dealers hope to protect themselves from embarrassment and from damage to their reputations, the dispute has gone all the way to the Australian Supreme Court.
According to McBride’s lawyer, Francis Douglas, the Christie’s catalogue for the May 2000 sale definitively identified the painting as authentic, leaving “no doubt that Christie’s had expressed an opinion” that the work was by Tucker. If the auction house was uncertain about the work’s authenticity, it would have indicated that by a question mark next to the attribution, which it did not.
Later, McBride discovered that the painting’s provenance was in doubt. The catalogue claimed that Barry O’Sullivan had inherited the piece from his father Ivan, who had purchased it from Melbourne’s Tolarno Gallery in 1969. After the sale, however, the younger O’Sullivan told Christie’s that the work instead came from Sydney’s Dominion Galleries.
It was around that time that Christie’s began to suspect that there was a string of forged Tucker paintings floating around the market. Despite consultinng art experts from Melbourne University who expressed concerns about its authenticity, a second work was auctioned for $69,000 in Australian dollars (US$64,700) to Australia Club in August of 2000. That money has since been repaid.
McBride is also suing former friend, art consultant Vivienne Sharpe, who encouraged her to buy the painting. Allegedly, Sharpe had a secret deal with Christie’s to pocket roughly 30 percent of the auction house’s profits when she helped arrange a sale.
The suit also names the painting’s seller, car dealer and art collector Alex Holland. He had purchased the work from bankrupt art dealer Peter Gant, who has been linked to the sale of forged works in the past.
“Mr Gant was identified as having sold a fake Drysdale for $250,000; as having supplied and sold fake Nolans; as having been the supplier of a batch of lalique glassware that had been irradiated to turn it purple and thus increase its value, and as being involved in a dispute with Charles Blackman about some paintings that Mr Blackman said to not be his work,” Douglas informed the court, pointing to evidence of a wider problem of Australian forgeries.
As the hearing continues, Christie’s has two expected defenses: that the painting doesn’t belong to McBride, but to a superannuation company owned by McBride or to her husband’s company that is now in liquidation; and that the statute of limitations on the case has expired. 
Source: artnet

Wednesday, July 16, 2014

HK's Top 10... Expensive auction items!

The Meiyintang Chicken Cup, ceramic 
$281m, 2014, Sotheby’s
The holy grail of Chinese ceramic connoisseurship, this flawless doucai (joined colours) ware is ultra-rare, due to its exceptionally difficult technical elements. Built during the Ming Dynasty’s Chenghua rule more than 500 years ago, it features a red rooster with a golden hen, a brood of chicks and flowers. Today, it’s next to impossible to acquire a genuine Chenghua ceramic, with less than three perfect ceramics available and most remaining in private collections.
2 Lotus and Mandarin Ducks – Zhang Daqian, art 
$191m, 2011, Sotheby’s
One of the greatest Chinese painters of the 20th century, Zhang Daqian developed his technique of pocai (splashed ink and a multitude of colours) due to his failing eyesight. This 1947 hanging scroll from the Mei Yung Tang Collection features charcoal and vermillion-red shades of bloomed lotus and buds, with three ducks paddling through the river.
The Last Supper – Zeng Fanzhi, art 
$180m, 2013, Sotheby’s 
Replacing the 12 apostles with the mask-and-red-scarf-wearing Young Pioneers of China feasting on watermelons, Fanzhi crafts a societal piece that uses real students as models to metaphorically scrutinise the growth of the Chinese economy while the red scarves represent Communist ideals. 
4 Kangxi period Wan Shou vase 
$64.5m, 2013, Christie’s
Believed by scholars to be made 
for the Qing dynasty’s Kangxi Emperor, this 300-year old blue-and-white Wan Shou vase is a calligraphic magnum opus. The vase is covered with 10,000 meticulously placed characters ranging from 
seal scripts to pictogram scripts of fishes and trees.
5 Burmese ruby and diamond necklace 
$49.4m, 2013, Christie’s
With a total of 87.88 carats, this opulent necklace set the world record for the most expensive ruby necklace plus a world record price for a contemporary designer. It features a chandelier-esque design, encrusted with diamonds and rigged with 35 intense ‘pigeon’s blood’ rubies.
6 Oval-shaped orangy pink diamond 
$38.2m, 2013, Sotheby’s
Yes, the term ‘orangy pink’ exists – and this 12.85-carat VVS1 clarity diamond sold for US$385,000 per carat, making it the world’s most expensive orangy pink diamond of any shape while also setting the world record price per carat for an orangy pink diamond. 
7 Bali Life – Lee Man-fong, art 
$36m, 2013, Christie’s
Setting the world record price for any Southeast Asian art ever sold at auction, Chinese-Indonesian Lee’s Bali Life centres on the idyllic Balinese lifestyle, depicting close communal ties, religious celebrations and traditional festivities, with extreme attention to detail.
8 The Empresses of The Orient ear pendants 
$25.9m, 2013, Christie’s
Truly one of a kind, this pair of natural pearl and diamond ear pendants are complemented by a vivid diamond cap topped by a natural white button pearl. The sale also set the world record price for a pair of natural pearl ear pendants. Perfectly round natural pearls are exceptionally rare and are valued as much as gemstones.
The Magpie’s Treasure Nest Clock – Patek Philippe  
$18m, 2013, Sotheby’s
Coming in at just over 33 pounds, this extravagant clock features a magpie feeding a young chick and, below them, the actual timepiece surrounded by numerous gemstones. Embellishments include 24.95 carats of diamonds, 13.17 carats of rubies and a dangling 104.75 carat oval tanzanite hanging from the magpie’s beak. The clock is most probably 
an afterthought.
10 RomanĂ©e-Conti Vintage 1978 wine
$3.7m, 2013, Christie’s
Setting the world auction record for the revered wine producer at $306,250/bottle, RomanĂ©e-Conti managed to sell a dozen 36-year-old Burgundy vinos, prompting the price to rise three times the pre-sale estimate, in turn setting another record for the books for most expensive 12 bottles of wine. Is it wine o’clock yet? Butch Domingo
Source: TineOut HongKong