Banky and Rembrand Boost Sotheby’s sales are $ 192.7 million

London – It was envisioned as a Kovid-enforced stopgap. But seeing an auctioneer on screen, what exactly is the sale of “live” art going to be from now on?

On Tuesday night, Sotheby’s held a livestream auction of 65 artworks from over seven centuries, replacing the traditional summer marquee sale of old master, impressionist, modern and contemporary art in the British capital.

Titled “Rebrand to Richter”, this historic mash-up was technically the first major live offering since the coronovirus lockdown in London. However, continuing the ban on travel and the congregation meant that the auctioneer, Oliver Barker, was once again on-camera in an empty salesroom, taking worldwide bids from colleagues on screen, such as Sotheby’s $ 363.2 last month. The opening of the million was “Multicamer Global Livestream” sales. Evergreen Mr. Barker was on the Rostam for over three hours.

“It’s slow,” said Philip Hoffman, founder and chief executive of Fine Art Group, a London-based consultancy company. “But there is no audience with dinner parties to go, and the auction house is making huge cost savings on catalogs, travel and entertainment.”

Sotheby’s cross category selections, during lockdown, until he sees the collectors’ current reluctance to offer multimillion-dollar artifacts at public auctions. If trophies show up, they are usually guaranteed to be sold by Sotheby’s or third parties at a minimum price.

If the works do not attract pre-sale interest, they can be withdrawn to avoid the stigma of being unsold. Francis Bacon’s 1986 “Study for a Picture of John Edwards,” worth at least £ 12 million, or about $ 15 million, was one of six works withdrawn from the sale.

Joan Miró’s 1927 Suristlist masterwork, “Pinture (female au chapu rouge),” a series of acclaimed “Dream” paintings made in Paris in the 1920s, was sure to sell for at least £ 20 million. Formerly related to sculptor Alexander Calder, it was recorded by an American private collector identified by Bloomberg News as Ronald Perelman, the billionaire owner of the cosmetics company Revlon, whose profits have plummeted in recent years. The painting took 11 minutes to sell. It eventually fell to £ 22.3 million from fees, or about $ 28.7 million to bid from New York, the evening’s top price.

“Some things look great online,” said Hugo Nathan, partner at Beaumont Nathan, a London-based consulting firm. “Said something. Bold pictures thrive, ”added Mr. Nathan, who was among a select group of 30 customers who personally attended the auction in the socially distant subsidiary room.

Rembrandt’s short, sketch-like 1632 panel painting, “Self-Portrait, Rough and Black Hat Clad”, was a less obvious candidate for success in the high-tech “click-and-bricks” auction. One of just three Rembrandt self-portraits left in private hands, it was nevertheless followed by six bidders with a low estimate of £ 12 million for £ 14.5 million, or about $ 18.7 million.

“If you remove artists from the old master field, they appeal to buyers who are not worried about the old master crowd.”

The late 15th century pioneered by the Florentine artist Paolo Uccello recently returned to the successor of Amsterdam-based collector Fritz Gutmann, who may apply to a riverbank, “a riverbank battle”. Camp in 1944. It attracted £ 2.4 million, or about $ 3.1 million in sales, underestimations and an auction record for the artist from collectors of 20th century art.

But aside from “a select few old masters, and occasional modern British highlights,” such as the 1923 canvas, by Scottish painter Samuel John Peplau for £ 675,000, or about $ 870,000. Evening by the common blue-chip names of modern and contemporary auctions. The upper-estimated £ 12.2 million, or $ 15.6 million given for Fernand Liger’s 1914 Cubist painting, “Nature Morte”, seemed almost regular.

Banky is now one of these blue-chip names. The Bristol-born graffiti artist cleverly used the global marketing of this sale to include his triptych, “Mediterranean Sea View 2017,” 19th-century-style beachfront scenes to fund facilities in Bethleh Arabia The refugee’s life jacket was shown. Rehabilitation for Society, a non-profit hospital. The pictures were hung nearby at their Wald of Hotel in Bethlehem. The London-based telephone bid haggling resulted in a price of £ 2.2 million, or around $ 2.9 million, against a low estimate of £ 800,000.

“Love it” when bidding against each other in London, Mr Barker said, adding that with the promotion of the new format they bid. “Watch it on a split screen. Future of auctions.”

In total, Sotheby’s “Rembrandt to Richter” sales raised £ 149.7 million from 65 lots, or around $ 192.7 million. The same evening sales last summer in London of old masters, impressionists, modern and contemporary art were about $ 283 million.

There may be a decrease in income, but expenses were also many. Sotheby’s owner, French-Israeli telecom magnate Patrick Drohi borrowed $ 1.1 billion for the acquisition of the auction house in 2019 and these global livestream sales are part of a developing high-tech, low-cost strategy that is well worth the auction. The future can be formed. Saltby said at a post-sales press conference that 150,000 people tuned in to “Rembrandt to Richter” in Liverpool.

Said Wendy Goldsmith, an art consultant from London who was watching the Sotheby’s auction online. “These marquee sales are now the public face of the entire art market.”

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