(2 May 2014) Two of New Yorks' biggest auction houses have unveiled which works will be on the selling block for the spring sales.
The sales focus on modern, contemporary, post-war, and impressionist art.
At Christie's they are selling 54 lots of art, which they expect will take in a minimum of $245 million dollars.
Artworks include a silver train flask by Jeff Koons, titled Jim Beam - J.B. Turner, that is filled with bourbon. There are also works by Claude Monet and Andy Warhol.
There is also a trio of paintings for sale, titled 'Three Studies for a Portrait of John Edwards' by Francis Bacon
Brett Gorvy of Christie's says people are often buying art now as an investment, rather than for the aesthetic.
"If you bought this painting behind me by Francis Bacon even 15 years ago it was around three million dollars," said Gorvy. "We're now offering it with an estimate of 75 million dollars. That shows the huge potential that's built into this art and it will continue to rise."
Another feature of the sale is a 1942 Portrait de femme (Dora Maar) by Pablo Picasso, which is expected to fetch $$ at auction.
"Picasso, his Dora Maar paintings have become synonymous with what he's best known for, this anguish he expresses through the portraits of his lover at this time, anguish about the war, so it's both autobiographical, historical and incredible reinvention of portraiture," said Brooke Lampley of Christie's.
Many of the items for auction come from the estates of people who have passed away, but whom were big collectors in the 60s, 70s, and 80s.
At Sotheby's, one of the highlights is La Seance du Matin by Henri Matisse. It shows Matisse's studio assistant Henriette Darricarrere, whom he encouraged in her own painting pursuits.
Sotheby's also has two Picasso coming up for auction, Tete de Marie-Therese and Le Sauvetage.
Sotheby's says their spring sale should net $220 million dollars minimum.
They are hoping to fetch up to $18 million dollars for the sculpture La Place by Alberto Giacometti.
"It's unusual that we have so many works by Giacometti," said David Norman of Sotheby's. "Giacometti was a sculptor of the postwar period thought of and referred to as one of the existentialists these thin figures with these pinched, scarred surfaces represent the alienated station and loneliness of man in Paris in the postwar period."
Also up for sale will be six Andy Warhol self portraits being sold together, and a Jeff Koons statue of Popeye, which was in a private collection and has been little-seen by the public.
"Popeye by Jeff Koons is expected to fetch over 25 million dollars," said Alexander Rotter of Sotheby's. "What is very exciting about this piece is it's the first time the pubic will actually see it in person in the United States. It was only once exhibited at an exhibition of Jeff Koons in Frankfurt."
The Sotheby's Impressionism and Modern Art sale will be in New York on May 7; their contemporary art sale will be May 14. At Christie's all the artwork will be sold in four auctions held from May 6 to May 20.
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