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  • Archive for September, 2018

    BACON AND FREUD AT CHRISTIE’S FRIEZE WEEK AUCTIONS

    Thursday, September 6th, 2018

    A large and diverse selection of 12 works by Francis Bacon and Lucian Freud will come up for auction at Christie’s  this October during London’s Frieze Week.  The group is led by Francis Bacon’s Figure in Movement (1972), held for 41 years in the prestigious collection of Magnus Konow. The work is a poignant meditation on human existence, expressed through the memory of Bacon’s muse and lover George Dyer, whose tragic suicide took place less than thirty-six hours before the opening of Bacon’s career-defining retrospective at the Grand Palais. Within Bacon’s oeuvre, Figure in Movement sits at the centre of the black triptychs. In addition, a collection of some of the earliest works on record by Bacon, comprises six pieces including his earliest surviving large-scale work, Painted Screen (circa 1930), a precursor to his famed triptychs. On loan to Tate, London, since 2009, the collection bears an outstanding provenance that includes Bacon’s first patron Eric Allden and his early artistic mentor Roy de Maistre. In the 1940s, five of the works entered the family collection of Francis Elek, who met Allden around this time; he acquired the sixth following de Maistre’s death in 1968.

    Similarly, Lucian Freud’s early Man in a Striped Shirt (1942)(£1,000,000-1,500,000), created when the artist was 19, also from the collection of Magnus Konow, is presented alongside a still-life celebrating the artist’s love for his wife Caroline Blackwood, and a 1980 portrait of his friend and lover Susanna Chancellor. Two of the first studies of Francis Bacon Freud created in 1951 are also included. The sale will take place on October 4.

    Francis Bacon, Figure in Movement (1972)

    Left: Lucian Freud, Man in a Striped Shirt (1942, estimate: £1,000,000-1,500,000)
    Right: Lucian Freud, Still Life with Zimmerlinde (circa 1950, estimate: £400,000-600,000)

    A NEW OWNER FOR BONHAMS

    Wednesday, September 5th, 2018

    Epiris today announces that Epiris Fund II, advised by Epiris LLP, has agreed the acquisition of Bonhams, the global auction house, from private shareholders. This is Fund II’s fourth investment. Financial terms are not being disclosed.

    Founded in 1793, Bonhams is one of the world’s largest and most renowned auctioneers of fine art and antiques, motor cars and jewellery. The business holds more than 250 sales a year at its flagship salerooms, which include London, New York, Los Angeles and Hong Kong. In 2017, Bonhams sold more than 50,000 lots, generating over £450 million of hammer sales.

    The company is led by CEO Matthew Girling and CFO Jonathan Fairhurst who will be joined by Bruno Vinciguerra as Executive Chairman. Bruno served for eight years as COO at Sotheby’s, and before that held senior roles at Bain, Dell and Disney.

    Matthew Girling, CEO of Bonhams, said: “We are delighted to have found a buyer that recognises the potential offered by this business and its employees. Bonhams is one of the world’s oldest auctioneers – and one of the most ambitious. During the past 20 years we have pursued a growth strategy that has turned the company into a truly global organisation. The value of Bonhams rests with its people, their skills, their extraordinary expertise and their strong networks across the world. Epiris has a demonstrable and successful track record in investment in growing brands and we believe that together we can continue to expand the business whilst still offering the highest possible level of service wherever we operate.”

    Bruno Vinciguerra, incoming Executive Chairman of Bonhams, said: “Bonhams is a business with great potential and a strong track record. I greatly look forward to working with the team to help deliver the next stage of growth.”

    Alex Fortescue, Managing Partner of Epiris, said: “We are thrilled to announce the acquisition of Bonhams, which is Epiris Fund II’s fourth investment. We have taken a selective approach since the fund was raised, and have been assembling a portfolio of exciting investments, each of which fits our transformative strategy. Investment activity levels remain high and we look forward to adding further to the portfolio at the appropriate time.”

    Owen Wilson, Partner at Epiris, said: “Bonhams is a global business operating in a market with long-term structural growth and high barriers to entry. It is a platform with extensive scope for transformation through investment. We are delighted to be working with Bruno, Matthew and the rest of the team to implement our shared vision.”

    Robert Brooks, shareholder and Chairman of Bonhams, said: “We have always had the intention one day to pass on the business to a new owner who shares our long-term vision for Bonhams. We would like to express our gratitude to Matthew Girling and the team, who have helped us transform the business into a truly global platform. I am immensely proud of what we have achieved at Bonhams and look forward to seeing the business continue to thrive under its new owners.”

    AT HOME SALE AT JAMES ADAM IN DUBLIN

    Wednesday, September 5th, 2018

    Around 500 lots will come under the hammer at the James Adam At Home sale in Dublin on September 9.  There is antique furniture, silver, jewellery, art and a variety of collectibles.  The catalogue is online.  Here is a small selection:

    ENDRE KAMPOCZI BALOGH (HUNGARIAN 1911 – 1977)
    Still life, flowers in a vase (700-1,000)  UPDATE: 700

    A VICTORIAN GILTWOOD TRIPLE COMPARTMENTED OVERMANTLE MIRROR (800-1,000)  UPDATE: THIS WAS UNSOLD

    A GEORGE III IRISH BRIGHT CUT SILVER CREAM JUG, Dublin 1794, maker’s mark rubbed (200-300)  UPDATE: THIS MADE 200 AT HAMMER

    A GEORGE III MAHOGANY SLOPE FRONT BUREAU, c1800 (500-700)  UPDATE: THIS MADE 550 AT HAMMER

    MARCHMONT WINS HISTORIC HOUSES/SOTHEBY’S RESTORATION AWARD

    Tuesday, September 4th, 2018
    These before and after pictures show the drawing room at Marchmont House in Berwickshire in the Scottish Borders – winners of this years Historic Houses/Sotheby’s restoration award.
    In what is clearly a labour of love the house has been converted by owners Marchmont Farms Ltd.  from a nursing home into a sumptuous family home available for lettings and functions.  Fire doors and green emergency exit signs were thrown out and replaced with an art collection, Georgian mirrors and paintings appropriate to a Palladian house built around 1750.  The five year restoration of one of the finest interiors in Scotland set out to create a splendid but comfortable home with 21st century comforts and preserved historically significant features such as the magnificent plasterwork by Thomas Clayton.  Marchmont is located about 40 miles south from Edinburgh.

    The drawing room after restoration

    The drawing room before restoration.

    JEWELS GIFTED BY CHESTER BEATTY TO LADY POWERSCOURT AT BONHAMS

    Monday, September 3rd, 2018

    Lady Powerscourt c1930.

    Jewellery gifted to Lady Powerscourt from Sir Chester Beatty from his personal collection will come up at Bonhams in London on September 26.  The two pieces were gifted in the 1950’s and date to the 1920’s.  They represent the Art Deco vogue for jewels in “exotic” taste.  The first – an Art Deco hardstone seal, gem-set and enamel jewel, is French in origin, dated circa 1925.  This was originally a shoulder ornament and then converted to a bracelet.  It is composed of five chalcedony seals of various colours, each engraved with a Qur’anic script and framed by black enamel. These are connected by black enamel and rose-cut diamond links with emerald and ruby bead highlights. It has a pre-sale estimate of £40,000-60,000.

    The second is an Art Deco neohrite, onyx and diamond pendant by Cartier and is estimated at £20,000-30,000.  The rectangular nephrite plaque is carved with numerous motifs that signify blessings and abundant joy. Its reverse is engraved with Chinese characters literally meaning ‘blessings come from blessings’.  It is suspended from an articulated circular plaque decorated with undulating lines of single-cut diamonds and calibré-cut onyx, mounted in platinum.

    Kieran O’Boyle, Head of Bonhams Ireland, said: “We are honoured to bring these two pieces of jewellery to auction for the first time.  Both pieces offer a glimpse into the history of Chester Beatty and his priceless art collection.”

    An avid collector who travelled extensively throughout his life, he built an impressive and diverse collection of works of art and masterpieces from Asia, the Middle East, Europe and Africa and employed a full-time librarian and several academic advisors to appraise items he wished to purchase.

    Sir Alfred Chester Beatty (1875-1968) – Ireland’s first honorary citizen – philanthropist and one of the most significant art collectors of the 20th Century, was also one of the world’s leading mining engineers, known as the “King of Copper”. After leaving his native New York in 1912 he lived in London for many years and was an important benefactor of the British Museum.  He retired to Ireland in 1950 and in 1953 went on to set up a purpose-built library in Shrewsbury Road, Dublin, initially for research, but then open to the public.  Upon his death in 1968, his priceless collection was bequeathed to a trust for the benefit of the people of Ireland.  He was granted a State funeral and was buried at Glasnevin Cemetry in Dublin.  Today, situated in the grounds of historic Dublin Castle, the Chester Beatty Library is the pre-eminent Irish institution promoting the appreciation and understanding of world cultures and contains some of the finest treasures of the great cultures and religions of the world.

    In  1952, he met Lady Powerscourt* and the two quickly struck up a friendship.  Beatty held the highest respect for Lady Powerscourt’s knowledge, judgement and understanding of his collection, which she would ultimately help him catalogue. Sheila Wingfield, Lady Powerscourt (1906-1992), was a poet and a writer. Wealthy and beautiful, she was largely self-taught and fought various obstacles during her lifetime to gain recognition for her work, despite admiration from contemporary writers such as W.B Yeats, Sir John Betjeman and T.S Eliot. Her best-known work, considered her masterpiece, is her 2000-line poem, Beat Drum, Beat Heart (1946), written about World War II.

    An Art Deco Nephrite, Onyx and Diamond Pendant by Cartier

    An Art Deco Hardstone Seal, Gem-Set and Enamel Jewel

    Sir Alfred Chester Beatty c1911.

    RARE CIZHOU SGRAFFIATTO JAR AT CHRISTIE’S ASIAN WEEK SALES IN NEW YORK

    Saturday, September 1st, 2018

    This very rare large Cizhou sgraffiatto jar dates from the Jin Dynasty (1154-1234) and will feature at a series of auctions at Christie’s to mark Asian Art Week in New York from September 7-14.   It is the top lot in the sale of Masterpieces of Cizhou Ware: the Linyushanren Collection Part IV on September 13.

    The sale will focus on the wide array of ceramics made in the Cizhou kiln from the Northern Song (960-1127) to the Yuan dynasties (14th- 15th century). There are 40 works assembed by a distinguished Japanese collector.   The Linyushanren Collection was formed with a focus on ceramics created mainly during the Song dynasty (AD 960-1279).

    The jar pictured here is accompanied by a Japanese double wood box inscribed by the scholar Fujio Koyama (1900-1975)  and is estimated at $100,000-150,000.  Asian Art Week sales at Christie’s will feature eight auctions and over 900 lots ranging from Chinese archaic bronzes to contemporary Indian painting.