🔥 Lots to Watch - 17 April 2024

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HEY Y’ALL! 🔥

Thanks for all the great feedback from the lots I shared last Wednesday!

📈 Top Picks from the Last Issue:

#1: Salvo, Una sera,1988 sold for $297,000, (64% over the estimate)

#2: Hans Hartung, T1965-H30, 1965 sold for $243,000, (83% over the estimate)

#3: Ida Yukimasa, The end of today, 2017 sold for $52,522, (24% over the estimate)

I’m excited to share 5 artists and lots worth checking out for this week.

Today’s issue is sponsored by Ryse, a pioneering company in home automation.

1) Miriam Cahn

• 📍 Bio: Swiss, b. 1949

• 📊 Price Range: $40,000 - $80,000

• 💰 Record Price: $703,070 for Das Genaue Hinschauen (The Close Look), sold at Sotheby's London in 2023.

• 🥂 Representation: Galerie Wolff, Meyer Riegger

• 🌎 Main Market: U.K & U.S.

💭 My 2 Cents: Miriam Cahn’s “Zurückweichen” is hitting the auction scene with estimates set between £15,000 and £20,000. This oil on panel piece, a gem from the respected Meyer Riegger collection in Basel, showcases Cahn’s knack for blending deep emotion with bold colors in her portraits. It’s not just a pretty piece; it’s packed with history, having been featured at the Sifang Art Museum in Nanjing just a couple of years ago. Cahn's work is seriously buzzing in the art world, with her piece “Das Genaue Hinschauen” smashing records last year at $703,070. On average, her works pull in around $125,039, and despite a bit of a dip in this year’s estimates, her hammer ratio's soaring at 3.42, showing that collectors are still all-in. With her art gracing walls from MoMA to Tate, grabbing “Zurückweichen” could be a smart move for anyone looking to dive into the market of a globally recognized talent whose work continues to captivate and climb.

2) Tracey Emin

• 📍 Bio: British, b. 1963

• 📊 Price Range: $60,000 - $90,000

• 💰 Record Price: $4,365,646 for My Bed, sold at Christie's London in 2014.

• 🥂 Representation: White Cube, Xavier Hufkens

• 🌎 Main Market: U.K

💭 My 2 Cents: Coming up for grabs is Tracey Emin’s “Be Brave,” a neon sculpture from 2014 with an inviting estimate of 30,000 - 50,000 GBP. This standout piece showcases Emin’s raw and personal style, a hallmark of her work that resonates with collectors. It’s part of a limited run—only 10 made, plus 3 artist's proofs—and it comes straight from the respected Lehmann Maupin Gallery. Emin’s market has been on a bit of a roller coaster, with a notable uptick in estimated prices for 2024, signaling stronger auction house confidence and perhaps a surge in buyer interest. Given the wide swing in prices historically—the standard deviation is a whopping $208,200—careful picks like “Be Brave” can really pay off. Emin's pieces generally fetch more than their low estimates, as seen in consistent Hammer Ratios above 1.0 in recent years. This lot offers a great mix of emotional appeal and solid market dynamics, making it a top pick.

3) Ugo Rondinone

• 📍 Bio: Swiss, b. 1964

• 📊 Price Range: $70,000 - $90,000

• 💰 Record Price: $1,131,000 for A DAY LIKE THIS.MADE OF NOTHING AND NOTHING ELSE, sold at Sotheby's New York in 2018.

• 🥂 Representation: Mennour

• 🌎 Main Market: U.S. & U.K.

💭 My 2 Cents: Ugo Rondinone's piece is hitting the auction block with an estimated range between £20,000 and £30,000 ($25,087 - $37,630). For those tuned into the art market's pulse, Rondinone's art has been attracting a lot of attention. In 2024, the Hammer Ratio for his works jumped to 2.34, signaling strong demand and competitive bidding. Plus, with prices trending upward this year, there's a buzz around his works that suggests they could climb even higher. This piece isn't just visually striking with its mirrored Plexiglas and painted frame; it also boasts the kind of pedigree collectors love—shown in major galleries and part of significant exhibits. Bottom line? It's a solid pick for anyone looking to invest in something that might appreciate as Rondinone's market heats up.

4) Invader

• 📍 Bio: French, b. 1969

• 📊 Price Range: $20,000 - $40,000

• 💰 Record Price: $1,220,000 for TK_119, sold at Sotheby's New York in 2019.

• 🥂 Representation: Pinto Gallery, Maddox Gallery

• 🌎 Main Market: France & U.S.

💭 My 2 Cents: Invader’s Bruce Lee 3D is hitting Phillips with a punchy estimate of £200,000 to £300,000 ($250,868 to $376,302). Crafted in 2015, this pixelated aluminum sculpture nails the artist’s geeky-cool blend of street art meets retro gaming. Looking at the numbers, Invader's market has been on the rise, with a sharp jump in prices from 2020 to 2021. Plus, auction results have consistently been above estimates, with a hammer ratio peaking at 2.77 in 2021 and staying strong through 2024. Previously shown at the HOCA Foundation in Hong Kong, this piece has the creds that collectors dig. With its solid track record and the current uptick in his work’s estimated prices, Bruce Lee 3D is likely to pull in bids well above its high estimate.

5) Anselm Reyle

• 📍 Bio: German, b. 1970

• 📊 Price Range: $30,000 - $40,000

• 💰 Record Price: $634,000 for Untitled, sold at Christie's London in 2007.

• 🥂 Representation: Almine Rech, Gagosian

• 🌎 Main Market: U.K & U.S.

💭 My 2 Cents: Anselm Reyle's "Untitled" from 2012 is on the auction block at Phillips London, listed at 25,000 - 35,000 GBP (31,359 - 43,902 USD). This piece, featuring PET foil on canvas inside an acrylic glass frame, is a classic Reyle. Over the past three years, there's been a noticeable drop in the estimated prices for his works, decreasing by about $3,408 on average. But there's a positive sign this year—his 2024 Hammer Ratio has climbed to 1.28, up from 0.85 in 2023, suggesting buyers are getting back into the game. During the same period, his auction track record includes a high sale of $81,900 and an average price of $31,039, demonstrating that his work can command top dollar. With Reyle’s pieces featured in major galleries and collections like Fondation Pinault and The Saatchi Gallery, this particular work has strong potential, especially now as his market begins to bounce back.

Glossary: The hammer ratio represents the relationship between hammer price and the average pre-sale auction estimate. This ratio determines how a lot performed in relation to its presale estimate. The better performing a lot is, the larger the hammer ratio. Any ratio above 1.2 indicates a high bidding intensity that exceeds expectations.

See you next Wednesday!

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