Record prices were achieved at Christie’s auction of old masters and British paintings in London on Dec. 6. The evening auction reached close to $38 million overall with 73 percent of the works selling above their pre-sale estimate.
The records were made, in part, due to the scarcity of fresh new works coming to the market, with buyers competing over what was available.
Art consignors in this category are tending to hold onto their works during the recession. The vendors are doing their best to entice them to sell with overly high sale estimations, many of which were not met at Old Masters Week this month for Christie’s, Sotheby’s, and Bonhams.
The few world-record prices at Christie’s were a great result, considering that many of the 36 works were fairly unimportant and over-estimated. Sotheby’s, with its meager 38 works, had less luck securing new-to-market works for its evening sale—likewise for Bonhams.
“The Battle Between Carnival and Lent,” by Pieter Brueghel II, sold at Christie’s for a world-record price of $10.8 million, doubling the pre-sale estimate of between $5 million and $7 million.
Christie’s described the painting as one of the most recognizable from the Brueghelian canon, as it exemplifies the unique blend of storytelling, acute characterization, and riotous anecdotal detail that has endeared the work of the Brueghels to generations of art lovers.
Christie’s sold one of the highest-priced paintings to an online bidder and was surprised to see an increase in Asian buyers for the genre.
Up for auction for the first time in 150 years, “Dutch Men-o-War and Other Shipping in a Calm,” by Willem van de Velde II, sold for $9 million, a world record for this artist.
The painting was in exceptionally good condition. Ever since it was first documented in 1778 at the Servad sale in Amsterdam, the painting has received unanimous acclaim, according to Christie’s, for its technical excellence, and the serene harmony of its composition.
“An Old Man at a Casement,” 1646, by Govaert Flinck, sold for $3.6 million, another world-record price for the artist at auction.
Christie’s describes the painting as a rediscovered treasure once acquired by Catherine the Great of Russia as part of one of the greatest collection-building campaigns in history. “An Old Man at a Casement” is considered one of Flinck’s most powerful paintings. Flinck trained in Rembrandt’s workshop in the 1630s.
As explained in a recent New York Times article, for the old masters market to stay strong, collectors need to sell their works. If the auction houses are forced to cut down from two sales a year to one, market momentum will slow because a certain pace is needed to maintain interest and bidders.
2011年12月27日星期二
2011年6月20日星期一
Terminator-like: Molding metal as if plastic
It's hard to beat the versatility of plastic on a production line. Melt and inject it into molds, let it cool and harden, and out comes an endless variety of parts at high speeds.
Metals can't always compete - except, perhaps, in the movie "Terminator 2," where an evil android can promptly transform molten metal into whatever shape is needed to challenge Arnold Schwarzenegger.
But now, off screen in a laboratory at the California Institute of Technology, researchers have found an ingenious way to coax metal alloys to solidify into a range of shapes as though they were plastics being molded - and thus create stronger products. And, as such, molded metal might someday be useful as structural components or as casings to protect laptops and smart phones, for example.
In the May 13 issue of Science, William L. Johnson, a professor of engineering and applied science at Caltech in Pasadena, along with colleagues, published a new, ultrafast method for heating and injecting a metallic alloy into a mold to create shapes.
"We use the method to create precision parts," he said. "The alloy can be squeezed into just about any shape you want, and it will be far stronger and stiffer than plastic."
Johnson and a co-author, Marios D. Demetriou, a senior research fellow at Caltech, have formed a company, Glassimetal Technology, and are setting up an engineering and prototype center in Pasadena to demonstrate the process, Johnson said.
The name "Glassimetal" refers to the alloys called metallic glasses or glassy metals that the company uses in its new manufacturing process. These metallic glasses were invented at Caltech just over 50 years ago, said A. Lindsay Greer, a professor of materials science at the University of Cambridge in England.
"Metallic glasses are materials with striking properties," he said. "They are quite hard, but also rather formable like plastics - an attractive combination."
Greer says the alloys have the disorderly atomic structure of glass, rather than the orderly one of conventional metals. This microstructure means that the alloys can do what glass does - congeal into a solid without crystallizing first, a property that gives both glass and these glassy alloys great inherent strength.
One company using glassy metals for its products is Metglas Inc., a unit of Hitachi Metals America, in Conway, S.C. Metglas supplies ribbon made of metallic glass used inside distribution transformers for electrical utilities, and within anti-theft devices placed on goods to set off an alarm at store exits, said Ryusuke Hasegawa, vice president for research.
Johnson's new method should make it possible to use the alloys to create a huge variety of shapes, Hasegawa said. "There will be many applications," he said. "With this process, you can make structural parts that are strong and hard."
Greer of Cambridge said metallic glasses like the zirconium-based one used by Johnson might raise the cost of manufacturing. "Because the alloys are expensive," Greer said, "these materials will probably be used mainly in niche applications where the benefits of the properties give you sufficiently better performance to justify the expense." But the manufacturing method Johnson has created could be economical enough to chip away at some of this extra expense, he said.
This manufacturing process overcomes a drawback of metallic glasses: They crystallize quickly when heated, losing the microstructure that makes them so strong. But Johnson's method is so quick that it circumvents the problem. The entire process of shaping and cooling takes two-hundredths of a second, so fast that the material turns viscous and can be molded without crystallization.
The rapid heating is done by passing an electric current through the alloy. "Nature has been kind here," Greer said of the process. "If you tried passing an electric current through most other materials besides metallic glasses, it probably wouldn't work."
Metals can't always compete - except, perhaps, in the movie "Terminator 2," where an evil android can promptly transform molten metal into whatever shape is needed to challenge Arnold Schwarzenegger.
But now, off screen in a laboratory at the California Institute of Technology, researchers have found an ingenious way to coax metal alloys to solidify into a range of shapes as though they were plastics being molded - and thus create stronger products. And, as such, molded metal might someday be useful as structural components or as casings to protect laptops and smart phones, for example.
In the May 13 issue of Science, William L. Johnson, a professor of engineering and applied science at Caltech in Pasadena, along with colleagues, published a new, ultrafast method for heating and injecting a metallic alloy into a mold to create shapes.
"We use the method to create precision parts," he said. "The alloy can be squeezed into just about any shape you want, and it will be far stronger and stiffer than plastic."
Johnson and a co-author, Marios D. Demetriou, a senior research fellow at Caltech, have formed a company, Glassimetal Technology, and are setting up an engineering and prototype center in Pasadena to demonstrate the process, Johnson said.
The name "Glassimetal" refers to the alloys called metallic glasses or glassy metals that the company uses in its new manufacturing process. These metallic glasses were invented at Caltech just over 50 years ago, said A. Lindsay Greer, a professor of materials science at the University of Cambridge in England.
"Metallic glasses are materials with striking properties," he said. "They are quite hard, but also rather formable like plastics - an attractive combination."
Greer says the alloys have the disorderly atomic structure of glass, rather than the orderly one of conventional metals. This microstructure means that the alloys can do what glass does - congeal into a solid without crystallizing first, a property that gives both glass and these glassy alloys great inherent strength.
One company using glassy metals for its products is Metglas Inc., a unit of Hitachi Metals America, in Conway, S.C. Metglas supplies ribbon made of metallic glass used inside distribution transformers for electrical utilities, and within anti-theft devices placed on goods to set off an alarm at store exits, said Ryusuke Hasegawa, vice president for research.
Johnson's new method should make it possible to use the alloys to create a huge variety of shapes, Hasegawa said. "There will be many applications," he said. "With this process, you can make structural parts that are strong and hard."
Greer of Cambridge said metallic glasses like the zirconium-based one used by Johnson might raise the cost of manufacturing. "Because the alloys are expensive," Greer said, "these materials will probably be used mainly in niche applications where the benefits of the properties give you sufficiently better performance to justify the expense." But the manufacturing method Johnson has created could be economical enough to chip away at some of this extra expense, he said.
This manufacturing process overcomes a drawback of metallic glasses: They crystallize quickly when heated, losing the microstructure that makes them so strong. But Johnson's method is so quick that it circumvents the problem. The entire process of shaping and cooling takes two-hundredths of a second, so fast that the material turns viscous and can be molded without crystallization.
The rapid heating is done by passing an electric current through the alloy. "Nature has been kind here," Greer said of the process. "If you tried passing an electric current through most other materials besides metallic glasses, it probably wouldn't work."
2011年3月15日星期二
Indonesian Master Leads the Way at S'pore Art Auction
Asian auction house Larasati's sale last Saturday exceeded pre-sales estimates, with
Indonesian master Hendra Gunawan's work leading the way and reflecting recovering sentiment
in the Asian art market.
Although a significantly smaller auction of 90 lots went under the hammer, about 75 percent
of the lots sold at prices above estimates.
More than 100 people attended the event, and S$1.8 million in sales were generated. In August
last year, Larasati sold 135 lots for almost $2 million.
Commenting on the result, Larasati's chief executive officer Daniel Komala, said: "With Asia
bouncing back strongly from the recession, the art market is bullish. There is a strong
appetite for good art."
Art by established names drew the most interest at this auction.
Among the most keenly bidded artworks were paintings by the late Indonesian artist Hendra
Gunawan, paintings by Dutch-born Balinese artist Arie Smit, Singapore pioneer artist Lee Man
Fong and limited edition prints by Japanese pop artist Takashi Murakami.
Bidding for their works was intense. Gunawan's 1983 oil on canvas Gembala Kerbau (Buffalo
Cowboy) emerged as the top lot selling for S$288,000, way above its estimate of S$60,000.
Painted in his distinct style with generous applications of paint, it saw highly contested
bids between phone bidders and buyers on the sale floor.
At S$169,200, Smit's Balinese Village And Farm Lands was the most expensive painting sold at
any auction by the artist to date. Its pre-sales estimate was S$35,000.
Lee Man Fong's Satay Seller, the last lot on offer, ended the auction on a high note selling
for S$220,800, up from its estimate of $$35,000. The biggest surprise turned out to be
Murakami's limited- edition prints.
With 300 of these available in the market, the five Murakami works on offer had an initial
estimate ranging from S$1,700 to S$2,500 each. Eager bidders quickly pushed the prices up.
Eventually, the three print series titled Kansei Korin Gold; With Reference, I Lay Myself
Before You - Korin - Chrysanthemum; and Warhol, Silver sold for $$12,600, five times above
the starting bid.
Art collector Martha Gunawan, 58, flew in from Jakarta for the auction. Even though she was
outbidded for the Murakami work, she said it was a worthwhile trip. "I had some excellent
buys but am disappointed that I missed out on some great pieces. There was just too much
competition this year," she said.
She said she likes to attend auctions in Singapore as they often feature works which are hard
to find in the market.
"Auctions like this one by Larasati are also a good platform to spot market trends. As a
collector, I tend to focus on works by masters. I feel many contemporary art works are over-
priced, while some works by old masters such as Gunawan are still under-valued," she said.
Set up in 2000, Larasati has been holding biannual auctions in Singapore since 2003. This
year, its smaller collection seems to have resonated with buyers. Said Komala: "It is a
testament to a strong demand and growing interest for quality Asian art. We had this in mind
when putting together this collection focusing on rare works by distinguished artists."
Indonesian master Hendra Gunawan's work leading the way and reflecting recovering sentiment
in the Asian art market.
Although a significantly smaller auction of 90 lots went under the hammer, about 75 percent
of the lots sold at prices above estimates.
More than 100 people attended the event, and S$1.8 million in sales were generated. In August
last year, Larasati sold 135 lots for almost $2 million.
Commenting on the result, Larasati's chief executive officer Daniel Komala, said: "With Asia
bouncing back strongly from the recession, the art market is bullish. There is a strong
appetite for good art."
Art by established names drew the most interest at this auction.
Among the most keenly bidded artworks were paintings by the late Indonesian artist Hendra
Gunawan, paintings by Dutch-born Balinese artist Arie Smit, Singapore pioneer artist Lee Man
Fong and limited edition prints by Japanese pop artist Takashi Murakami.
Bidding for their works was intense. Gunawan's 1983 oil on canvas Gembala Kerbau (Buffalo
Cowboy) emerged as the top lot selling for S$288,000, way above its estimate of S$60,000.
Painted in his distinct style with generous applications of paint, it saw highly contested
bids between phone bidders and buyers on the sale floor.
At S$169,200, Smit's Balinese Village And Farm Lands was the most expensive painting sold at
any auction by the artist to date. Its pre-sales estimate was S$35,000.
Lee Man Fong's Satay Seller, the last lot on offer, ended the auction on a high note selling
for S$220,800, up from its estimate of $$35,000. The biggest surprise turned out to be
Murakami's limited- edition prints.
With 300 of these available in the market, the five Murakami works on offer had an initial
estimate ranging from S$1,700 to S$2,500 each. Eager bidders quickly pushed the prices up.
Eventually, the three print series titled Kansei Korin Gold; With Reference, I Lay Myself
Before You - Korin - Chrysanthemum; and Warhol, Silver sold for $$12,600, five times above
the starting bid.
Art collector Martha Gunawan, 58, flew in from Jakarta for the auction. Even though she was
outbidded for the Murakami work, she said it was a worthwhile trip. "I had some excellent
buys but am disappointed that I missed out on some great pieces. There was just too much
competition this year," she said.
She said she likes to attend auctions in Singapore as they often feature works which are hard
to find in the market.
"Auctions like this one by Larasati are also a good platform to spot market trends. As a
collector, I tend to focus on works by masters. I feel many contemporary art works are over-
priced, while some works by old masters such as Gunawan are still under-valued," she said.
Set up in 2000, Larasati has been holding biannual auctions in Singapore since 2003. This
year, its smaller collection seems to have resonated with buyers. Said Komala: "It is a
testament to a strong demand and growing interest for quality Asian art. We had this in mind
when putting together this collection focusing on rare works by distinguished artists."
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