Arte e Cultura
Artprice by Artmarket.com: The role of independent experts in the Art Market
Old Master paintings expert Eric Turquin admits that the sale of the small devotional panel attributed to the Master of Vyssi Brod was probably his firm's biggest success story in 2019. And yet the year was full of excitement as the Cabinet Turquin was deeply involved in the sale of the Toulouse Caravaggio in June 2019 (which finally sold privately), the Cimabue painting in October and even a work by Artemisia Gentileschi in November.
However, the attribution of that small panel to the artist known as Master of Vyssi Brod, a 14th century Gothic painter from Prague , was indeed a veritable . It took a lot of patient research to back up this delicate attribution, but it ultimately demonstrated the exceptional value of this small painting. Nine bidders competed for it in Dijon and it finally went to the Benappi Fine Art Gallery that bought the work for $6.8 million on behalf of the Metropolitan Museum of Art in New York.
An intense research dossier was also triggered by the discovery of a bronze bust of Paul Phélypeaux de Pontchartrain, one of Henri IV's Ministers. When auctioneer Géraldine d'Ouince saw it for the first time, she exclaimed " " . Busts from that period are indeed extremely rare, even in the most prestigious museums, and they are totally absent from the market. But, with the help of Elodie Jeannest and Alexandre Lacroix of the Sculpture & Collection appraisal firm (also based at 69 rue Sainte-Anne in Paris , next to the Cabinet Turquin), they were able to establish that the bronze dated from the first half of the 17th century.
All in all, Géraldine d'Ouince recognized before the public sale that the estimate provided in the catalogue – between $550,000 and $885,000 – could be substantially exceeded, and indeed the bust of Paul Phélypeaux fetched almost $3.4 million .
While it represents a niche market in the United States generating just 3% of the American art market's total auction turnover, the Old Masters segment accounts for as much as 14% of the fine art auction revenue in France . Last year, this segment benefited from the excellent work of the country's consulting firms, often involving lengthy research that is absolutely necessary before an auction house can hope to attract informed and convinced buyers.
When an appraisal report is both convincing and conclusive, news of the sale seems to spread almost on its own. The media and the Art Market are fond of stories of forgotten or misattributed art works that gradually recover their rightful places in art history as the research advances and the evidence accumulates. In the end, the technical analyses, x-rays and comparisons with other masterpieces are presented in a sales catalogue… and the work's true identity and history are revealed.
The excellent results hammered in France during 2019 have proved that once an appraisal report has been duly established, the sale of the piece can be held outside the major capitals – in places like Toulouse, Dijon or even in the small town of Senlis – and still attract the world's biggest collectors and museums.
1. CIMABUE (c. 1240/50-c. 1302) - - Estimated:
$4,400,000 - $6,600,000 )
27/10/2019, Hôtel des Ventes de Senlis
2. Master of Vyssi BROD (act.1350-) - (Estimated:
$440,000 - $660,000 )
30/11/2019, Cortot & Associés, Dijon
3. Artemisia GENTILESCHI (1593-c.1654) - (Estimated:
$660,000 - $880,000 )
13/11/2019, Artcurial, Paris
4. Antonio SUSINI (Attrib.) (1558-1624) - (c.1590-1610)
(Estimated: $2,775,000 -
$5,545,000 )
11/12/2019, Sotheby's, Paris
5. Giambettino CIGNAROLI (Attrib.) (1706-1770) - [...]
(Estimated:
$880,000 - $1,320,000 )
27/11/2019, Christie's, Paris
6 Ambrosius I BOSSCHAERT (1573-1621) - [...]
(Estimated:
$2,470,000 - $2,800,000 )
06/19/2019, Fraysse - Binoche & Giquello, Paris
7. Francesco BORDONI (1580-1654) - [...]
(Estimated:
$550,000 - $885,000 )
20/11/2019, from Baecque - d'Ouince, Paris
8. Hans DAUHER (c.1485-1538) - (c.1525-1530)
(Estimated:
$1,120,000 - $1,680,000 )
16/05/2019, Sotheby's, Paris
9. Bernardino LUINI (c.1480 / 85-1532)2,534,000 - (Estimated:
$1,980,000 - $ 2,200,000 )
14/11/2019, Aguttes, Paris
10. Antonio SUSINI (Attrib.) (1558-1624) (1580-1600)
(Estimated:
$1,110,000 - $2,220,000 )
12/11/2019 Sotheby's,
Paris
An appraisal carries much more weight when carried out by an independent firm whose reputation is at stake regarding the objectivity of its report.
An auctioneer who sees a work for the first time is already partly committed to its sale and the quality of his/her work will be measured according to the success of the transaction. Auction houses sometimes give the impression of over-focusing on the marketing and financial aspects of a sale. When Patrick Drahi acquired Sotheby's and appointed businessman Charles F. Steward to its head, it sent out a strong signal about Sotheby's strategy and priorities. In the case of , one may wonder if Christie's didn't put more energy into organizing its international tour than analyzing its artistic qualities and questioning its place in da Vinci's œuvre.
For the time being, both Eric Turquin and Alexandre Lacroix seem to appreciate their collaborations with French auction houses, whether Parisian or provincial. There is no doubt these auctioneers benefit from its expertise, knowledge, experience and reputation but, above all from its independence. This avoids certain pressures from the Art Market, in which conflicts of interest sometimes have repercussions... even in the collections of the largest museums.
More than twenty years ago, Thomas Hoving – former Director of the Metropolitan Museum of Art – already drew the art world's attention to the presence of fakes in large museum collections. In 1997, he wrote in the introduction to his book : " . [...]
"
The former MET Director lent credence, at least in part, to this explanation: "
It is probably no coincidence that in 2019 the Metropolitan Museum of Art in New York was one of the major buyers of paintings appraised by Eric Turquin's independent firm. The French expertise faces a new world demand.
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