PHILADELPHIA, PA.- Freemans
announced the results of its highly successful Modern & Contemporary Art auctiontheir first online fine art sale of 2020. With an impressive sell-through rate of 95%, the 58-lot sale achieved over $1 million, just shy of its pre-sale high estimate. Strong prices were achieved for Latin American, English, and iconic American Pop artists. With many consignments from private New York collectors, the auction included notable works by Henri Matisse, Pablo Picasso, Diego Rivera, and Andy Warhol.
We were delighted to see that the market remains competitive for top works by blue chip artists, and to achieve an enviable sell-through rate in our first online fine art sale, said Dunham Townend, Head of Freemans Modern & Contemporary Art Department. With this most recent success, Freemans raises its average sell-through rate for its 2020 fine auctions to 93.5%.
SECOND HIGHEST PRICE ACHIEVED AT AUCTION FOR CHANEL BY ANDY WARHOL
The sale was led by Chanel, an iconic print from Andy Warhols, Ads series, which sold for $175,000nearly the high end of its pre-sale estimate. This price is the second highest ever fetched at auction for this important screenprint. Robust pre-sale interest and spirited bidding from the East and West Coasts, as well as from Europe, culminated in one of the highest auction prices ever achieved for this iconic Pop image.
ROBUST PRICES ACHIEVED FOR BRITISH MODERNISTS
Skoob Assemblage by British Modernist John Latham was a runaway success. Bidders from the United Kingdom, Europe and America competed vigorously for this fresh-to-market assemblage by one of Englands most celebrated Conceptual artists. The work more than quintupled its pre-sale low estimate, realizing $27,500.
Similar spirited bidding drove Lynn Chadwicks Pair of Cloaked Figures to sell for $43,750. This quintessential example by the revered British sculptor had been in a private New York collection since 1978.
These robust results continue Freemans long-established history of success with Modern British artists including William Scott, Henry Moore and John Hoyland.
GROUP OF OSWALDO VIGAS WORKS FROM PRIVATE COLLECTION EXCEED PRE-SALE ESTIMATES
Two paintings and two works on paper by renowned Venezuelan artist Oswaldo Vigas drew significant attention from bidders worldwide. These works were acquired over many years of friendship between the artist and Freemans consignor. Caraqueña, and Merideña, two oil on canvases from 1967, exceeded their pre-sale estimates of $10,000-15,000, realizing $16,250 and $12,500, respectively; while two Untitled works on paper each exceeded their pre-sale high estimate, achieving $4,063 and $4,688.
WORKS BY PICASSO, RIVERA, KATZ, RODRIGUE & MATISSE EXCEED EXPECTATIONS
Strong prices were also achieved for works by many other internationally renowned and sought after artists. Other notable results include $46,875 for Pablo Picassos Face with Black Nose and Alex Katzs Yellow Road; $32,500 for Diego Riveras Seated Woman; $25,000 for George Rodrigues Blue Over You; and $18,750 for Henri Matisses Soldat Marocain et Hamido.