Collection of Yves Saint Laurent and Pierre Bergé Realises $483.8 Million at Christie's

Written by rubin Friday, 27 February 2009 01:47

PARIS - The three-day sale of the magnificent Collection of Yves Saint Laurent and Pierre Bergé at the Grand Palais, offered by Christie’s in association with Pierre Bergé & Associates auctioneers, realised in total €373,935,500 / £332,802,595 / $483,835,144. A remarkable 95.5% of lots sold by lot, and 93% sold by value. This historic sale set a world record for the most valuable private collection sold at auction, was the highest grossing sale in Europe on record, and set multiple world records for Impressionist and Modern Art, 20th Century Decorative Arts, Silver, Sculpture and Works of Art. One of the most exceptional and significant collections of art in private hands, it generated unprecedented interest from bidders throughout the world and pre-sale estimates for both the sale as a whole and the individual works, were significantly exceeded.

Highlights of these exceptional and rare works of art, each with impeccable provenance, captured the attention of international collectors as they were exhibited by Christie’s, in association with Pierre Bergé and Associates, in New York, London, Brussels and Paris in the last four months. The spectacular public exhibition at the Grand Palais in Paris, a once-in-a-lifetime opportunity to see this unique curated collection of art and to experience the evocative atmosphere of Yves Saint Laurent’s apartment at rue de Babylone, was viewed by over 30,000 visitors over 3 days (21-23 February), and over 1500 people gathered for each of the sales, held in a specially built saleroom, the largest in Christie’s history.

The proceeds of the sale will go to the Pierre Bergé – Yves Saint Laurent Foundation, created to prolong the history of the House of Yves Saint Laurent, and to a new foundation that will be set up for scientific research and the fight against AIDS.

Pierre Bergé said: “The sale of the collection that I had built in partnership with Yves Saint Laurent draws to a close and has been a triumph. My expectations have been fully realized. I thank Christie’s for the organization of both the preview exhibitions and the sale itself in the setting of the Grand Palais. I offer my gratitude to the public who came in huge numbers and were prepared to queue patiently for many hours. The results of the sale exceed our highest expectations and confirm the potential of the Paris marketplace to rise to such an occasion. The results also demonstrate that even in a difficult economic climate, works of art of great quality preserve their power and their value.”

Impressionist and Modern Art
On 23 February, at the inuagural session of the sale, the most significant collection of Impressionist and Modern Art in private hands sold for a total of €206 million / £183 million / $266 million, a world record for a private collection at auction and the highest total achieved for any Impressionist and Modern Art sale in Europe. The top lot of the evening was Les coucous, tapis bleu et rose, 1911 by Henri Matisse, which sold for €35.9 million / £31.9 million / $46.4 million, the highest price ever achieved for a work by the artist at auction, and 8 works of art sold for over €5 million. 25 works of art sold for over €1 million (24 lots for over £1 million / 25 lots over $1 million). 7 world records were set for artists at auction, including Matisse, Brancusi, Mondrian, de Chirico, Duchamp, Klee and Ensor.

Thomas Seydoux, International Head of Impressionist and Modern Art said: “This record sale, which achieved the highest total for any Impressionist and Modern Art sale in Europe, and was the most valuable private collection ever sold at auction in the world, was a tribute to two great men: Pierre Bergé and Yves Saint Laurent. Collectors, gathered in the largest saleroom that Christie’s has ever seated, responded to the opportunity of a lifetime to buy into a Collection carefully assembled over almost five decades. There was significant bidding on the telephone from a deep pool of international buyers and many rare and exceptional works, each with impeccable provenance and condition, set world record prices for artists at auction. This historical sale demonstrated the timeless appeal of Impressionist and Modern art, this long-established and highly valued category.”

Other major highlights of the sale included:

• Madame L.R. (Portrait de Mme L.R.), a magnificent example of Constantin Brancusi’s earliest and enigmatic sculptures in wood sold for €29.1 million / £25.9 million / $37.7 million (estimate: €15,000,000 – 20,000,000), a world record for the artist at auction.
• Three abstract paintings by Piet Mondrian, which each belong to key stages in the artist’s work, and express degrees of tension between line, form and colour were all sold above their high estimates. Composition avec bleu, rouge, jaune et noir, 1922 sold for €21.5 million / £19.1 million / $27.9 million (estimate: €7,000,000-10,000,000), a world record for the artist at auction; Composition avec grille 2, 1918 sold for €14.4 million / £12.8 million / $18.6 million (estimate: €7,000,000-10,000,000), and Composition I, 1920, sold for €7.0 million / £6.2 million / $9.0 million (estimate: €5,000,000-7,000,000).
• Fernand Léger’s great mechanical paintings of 1918 and 1919, painted during one of his most brilliant periods drew significant attention: Composition, dans l’usine, 1918 sold for € 5.5 million / £4.9 million / $7.1 million (estimate: €6,000,000 – 8,000,000). La tasse de thé, 1921, sold for € 11.4 million / £10.2 million / $14.8 million (estimate: €10,000,000 – 15,000,000).
• The ready-made masterpiece “La Belle Haleine – Eau de Voilette” by Marcel Duchamp, with the assistance by Man Ray in 1921, witnessed fierce bidding in the room and realized € 8.9 million / £7.9 million / $11.5 million, nearly 9 times its estimate of €1,000,000 – 1,500,000, a world auction record for the artist.

Old Master and 19th Century Paintings and Drawings
The sale of Old Master and 19th Century Paintings and Drawings on 24 February totalled €22.2 million / £19.7 million / $28.7 million. 75% of lots sold by lot, and 90% sold by value. Drawings from the 19th century, predominantly portraits by Jacques-Louis David, Jean-Auguste-Dominique Ingres and Sir Edward Coley Burne-Jones generated significant interest and Portrait d’Alfred et Elisabeth Dedreux by Theodore Gericault, the figurehead of French Romantic painting, was the top lot of the sale and realised €9.0 million / £8.0 million / $11.6 million (estimate: €4,000,000 – 6,000,000), a world record for the artist at auction. 5 works of art sold for over €1 million (4 lots for over £1 million / 6 lots over $1 million). 6 new world auction records for artists were set.

Major highlights of the sale included:

• Jean-Auguste-Dominique Ingres’ elegant Portrait de la comtesse de la Rue, 1890, sold for €2.0 million / £1.8 million / $2.6 million (estimate: €2,000,000,000 – 3,000,000,000), a world record for the artist at auction
• Jacques-Louis David’s Portrait d’homme de profil, which has long been thought to be a self-portrait sold for €577,000 / £513,530 / $746,580 (estimate: €400,000 – 600,000), a world record for a work on paper by the artist at auction.
• Théodore Gericault’s Portrait d’Alfred et Elisabeth Dedreux sold for €9.0 million / £8.0 million / $11.6 million (estimate: €4,000,000 – 6,000,000), a world record for the artist, and a world record for any ‘non-impressionist’ painting from the 19th Century. International collectors and connoisseurs where quick to recognise the significance of this painting, its relevance within Géricault’s oeuvre, its status as an icon of early romantic portraiture, and its particularly unforgettable atmosphere.

Silver, Miniatures and Objets de Vertu
The afternoon sale of Silver, Miniatures and Objets Vertu on 24 February totaled €19.8 million / £17.6 million / $25.7 million and set a new world auction record for a silver sale. An impressive 100% of the works sold to an audience of over 1,000 people. The star lot of the session, which saw over 111 breath-taking lots of silver, silver-gilt and gold come under the hammer, was the Osterode cup, a silver-gilt quadruple cup, 1649, which sold for €853,000 / £759,000 / $1.1 million (estimate: €100,000 – 150,000). The collection of Hanover cups alone, one of the most exciting collections of early German silver to appear on the market for years, totalled €6.1 million / £5.4 million / $7.89 million. Collectors also bid fiercely for drinking cups in the form of lions, bears, horses, deer, a unicorn, bull, swan, owl and even an elephant with soldiers in the castle turret on its back.

20th Century Decorative Arts
The 24 February evening sale of Yves Saint Laurent and Pierre Berge’s meticulously selected group of Art Deco treasures, a sophisticated celebration of one of the most brilliant chapters in Parisian cultural life, realised a total of €59.1 million / £52.6 million / $76.5 million, a world record for a collection of 20th century decorative arts. 95% of lots sold by lot, and 98% sold by value. The star lot of the evening was Eileen Gray’s ‘Dragons’ armchair, circa 1917-1919, which achieved €21.9 million / £19.4 million / $28.3 million, a world record for a work of 20th century decorative art at auction, and a world record for the artist at auction. 10 works of art sold for over €1 million (10 over £1 million and 10 over $1 million). The auction saw a total of 12 artist records established.

Leading highlights of the sale included:

• Eileen Gray’s ‘Dragons’ armchair, circa 1917-1919, originally in the collection of Suzanne Talbot, sold for €21.9 million / £19.4 million / $28.3 million, a world record for any work of 20th century decorative art at auction, and a world record for the artist at auction (estimate: €2,000,000-3,000,000). Gray’s unique Enfilade, circa 1915-1917, realised €3.9 million / £3.5 million / $5.1 million (estimate: €3,000,000-5,000,000).
• The Gustave Miklos pair of palm wood and lacquered bronze banquettes, 1928-1929, commissioned by Jacques Doucet, sold for €1.7 million / £1.5 million / $2.2 million (estimate: €2,000,000-3,000,000), a world auction record for the artist.
• The sculptural YSL bar, François-Xavier Lalanne’s first commission from Yves Saint Laurent, and a centrepiece of the library in Yves Saint Laurent’s apartment in rue de Babylone sold for €2.7 million / £2.4 million / $3.5 million (estimate: €700,000-1,000,000), a world record for the artist at auction.

Sculpture and Works of Art
The afternoon session of the Sculpture and Works of Art sale on 25 February realised a total of €24.2 million / £21.5 million / $31.3 million. 95% of lots sold by lot, and 98% sold by value. The top lot was a 16th century bronze double head of Janus, unusual in both its iconography and its scale, which attracted committed bidding from a wide range of private and trade buyers and sold for €2.0 million / £1.8 million / $2.6 million (estimate: €100,000 – 200,000), a record for a 16th century French bronze. 5 works of art sold for over €1 million (4 lots for over £1 million / 6 lots over $1 million).

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