“Old Hamlet of Toledo” by Diego Rivera from the artist’s Cubist period, is estimated to sell for between $800,000 and $1.2 million in a sale of Latin American art at Sotheby’s on May 25. This sale will be followed by two auctions of Latin American Art at Christie’s on May 26 and 27.

NEW YORK – Fans and collectors of Latin American art are looking forward to three days celebrating the diverse styles and cultural origins of the genre here, as Sotheby’s will present a sale of a single-owner collection on May 25, while Christie’s will present evening and day sales of Latin American art on May 26 and 27. Among the artists to be featured in the three sales include Rufino Tamayo, Diego Rivera, Miguel Covarrubias, Matta, Frida Kahlo, Claudio Bravo and Jorge de la Vega.

Sotheby’s “Latin American Masterpieces from A Private Collection” and “Fernando Botero: A Celebration and Latin American Art” sales will both be held on May 25. Leading the events is “Old Hamlet of Toledo” by Diego Rivera from the artist’s Cubist period, which is estimated to sell for between $800,000 and $1.2 million. Rivera, known as a brilliant landscape painter from the beginning of his career, traveled to Paris from Spain in 1911, where he became an integral part of the Cubist movement together with Braque and Picasso. This Spanish landscape is one of the more figurative works from his Cubist period.

Frida Kahlo’s self portrait “Autorretrato en Miniatura” is just two inches in height, making it the smallest self portrait ever made by the Mexican painter and perhaps her most coquettish. Kahlo painted the portrait for her lover, the artist José Bartoli, who kept the small treasure in his possession for more than 50 years. The dedication “Para Bartoli con amor, Mara,” is on the reverse of its small oval panel. Kahlo styled the portrait on her painting, “Arbol de la Esperanza,” in which she appears in Tehuana costume, her hair braided and crowned by a red ribbon or flowers. In 2005, it was featured in the critically acclaimed exhibition Frida Kahlo at Tate Modern. It also holds a presale estimate of $800,000-$1.2 million.

Frida Kahlo’s diminutive self portrait, “Autorretrato en Miniatura,” has a presale estimate of $800,000 to $1.2 million.

The Sotheby’s sale also includes three paintings by Tamayo, representing his greatest periods. “Woman Playing With Her Child” shows how the artist incorporates both Mexican and Cubist themes into his work (est. $1 to $1.5 million). The work was painted in 1946 and shows a child being entertained by a ball of yarn, perhaps alluding to family ties. “Sandías (Watermelons),” from 1941, reflects the quality of light and Tamayo’s childhood trips to the local market in the southeastern region of Mexico where he grew up (est. $500,000-$700,000). The overflowing fruit bowl offers an optimistic vision of bounty and abundance which is complimented by the cloudless sky that can be seen through the window behind. The group is completed by the sensitive and monumental “Mujer en Extasis” from 1973.

Surrealism is represented in the sale by the early Matta work “Morphology of Desire” (est. $700,000-$900,000). In 1938, at the suggestion of George Onslow-Ford, Matta started to experiment with automatism—the technique whereby the artists brush moves faster than the mind can think. The results, as seen in works such as this, made significant contribution to the development of Action Painting and Abstract Expressionism. The work was originally in the collection of Onslow-Ford, his friend and fellow painter.

The Cuban avant guarde of the 1940s is represented by Rene Portocarrero’s “Mujer,” an arrestingly vibrant work where the boldly patterned background contrasts to the sweeping long strokes of the figure (est. $200,000-$300,000). The work is one of the greatest paintings of Portocarrero’s early career and was included in his 1942 exhibition at the Lyceum. Mario Carreno’s well known masterpiece “The Drumbeater” offers a visual synthesis of geometry and afro-Cuban music (est. $300,000-$500,000) and “Balconies” by Amelia Peláez from 1963 completes the group (est. $20,000-$25,000).

“Offering of Fruits for the Temple,” by Miguel Covarrubias (1932), is a highlight of the two Latin American art sales at Christie’s on May 26-27. It has a presale estimate of $ 200,000-$300,000.

The Christie’s sales, comprised of nearly 350 works by more than 145 artists from 16 countries spanning across Latin America (including Argentina, Venezuela, Puerto Rico, Chile, Cuba, Brazil, Colombia, Mexico and Nicaragua), span the late-18th to the 21st century. Prime examples from Colonial, Modernism, Kinetic Abstraction and Pop and Op Art has Christie’s predicting a sale realizing upwards of $20 million overall.

“We secured a small but special collection of rarely seen Spanish Colonial works from the Cuzco and Mexican schools, as well as Latin American Modernist Masterpieces works by Torres-Garcia, Matta, Tamayo and Lam,” said Virgilio Garza, Head of Latin American Paintings at Christie’s.

The cover lot is a remarkable rediscovered painting by Miguel Covarrubias, the Mexican artist whose extended trips to Bali in the 1930s forever inspired his work. Transfixed by the island’s rich culture, artistic and religious traditions, Covarrubias, a successful illustrator, whose work was often featured in Vanity Fair and Vogue magazines, wrote “The Island of Bali.” “Offering of Fruits for the Temple,” from 1932, is Covarrubias’ pictorial ode to the idyllic beauty of the Balinese women, as a group of beautiful women elegantly balance baskets of fruit on their heads, swathed in brightly colored sarongs. The rare work has been in a private collection until now and is considered one of the artist’s great masterpieces.

———————————

WorthPoint—Discover Your Hidden Wealth

Survivor,” by Frida Kahlo, earned 10 times it low estimate, making it the star of the Latin American Art Sales hosted by Christie’s on May 26-27. 2010. Having not been exhibited since 1938, when it was the Julien Levy Gallery in Kahlo’s very first solo show, it sold for $1,178,500.

NEW YORK – A small painting measuring just 6 5/8 by 4¾ inches—a work by Frida Kahlo titled “Survivor”—earned 10 times it low estimate, making it the star of the Latin American Art Sales hosted by Christie’s.

The sales, which also drew blockbuster results for works by José Clemente Orozco and Alfonso Michel, achieved a combined total of $20,514,600, with 72 percent sold by lot and 80 percent sold by value. The strong results reflect a resurgence of Latin American art, as sales greatly surpassed those from the same time last year, at $13.8 million. Mexican and Cuban modern works dominated the sale, with 12 new world auctions records set for artists.

The sale’s highlight was the anticipated sale of “Survivor” (1938). After several minutes of intense bidding, the palm-sized painting—which hasn’t been exhibited since 1938—went for $1,178,500.The painting features a Mexican idol standing on a field, ridden with alienation and despair. Wednesday evening, May 26, marked the first time that the rare and extraordinary work had come to market since it was initially exhibited more than 70 years ago at the Julien Levy Gallery, in Kahlo’s very first solo show. Thunderous applause ensued when the hammer came down for the work, which went to a private collector. The original estimate was for $100,000-$150,000.

“It was a sale full of excitement and surprises with world auction records for key Latin American modern and contemporary artists,” said Virgilio Garza, head of Latin American paintings at Christie’s. “We were delighted with the runaway success of Frida Kahlo’s “Survivor.” None of our estimates were over $1 million and yet, we sold three pieces for over $1 million. It shows that there is a great deal of pent-up demand for these works. What makes this sale so important is the level of artists, the freshness of the works and their condition.”

José Clemente Orozco’s “The City” (1929) sold for $1,142,500.

Jesús Rafael Soto’s “Figura de pie” (1959) sold for $818,500.

Overall, Mexican paintings dominated the sales with a long-overdue record for Orozco. Another important record was set for the Venezuelan artist Jesús Rafael Soto. There was a 100percent sell-though rate on the prestigious Lynch Collection, containing three works each by Rufino Tamayo and Orozco, whose “The City” (1929) sold for $1,142,500, well above the artist’s previous record at auction for “La Cantina” (1941), which sold at Christie’s Paris for $988,031 in 2004. Tamayo’s “Figura de pie” (1959), a pink-hued work with a dark silhouetted figure in the foreground, is also part of the Lynch Collection and sold for $818,500. Other notable highlights include Fernando Botero’s monumental bronze sculpture, “Woman on a Horse” (2002), which brought in $1,046,500, and Beatriz Milhazes’ “578”—a synthesis of baroque garb within a richly intellectualized pictorial environment (1994)— went for $506,500. Milhazes’ “O beijo,” a 2001 collage featuring candy wrappers and acrylic, went for $110,000 and was a world auction record for the artist on paper.

Soto’s multi-dimensional “Un Trou sur l’Orange” (1970) sold for $758,500.

World records were set for 12 artists, most notably for Soto’s multi-dimensional “Un Trou sur l’Orange” (1970), which sold for $758,500. As is characteristic of the artist, the work combines a monochromatic panel, this time in orange, with oscillating metal rods that impart a dynamic spatial and perceptual tension. Soto’s previous record was $657,924. Michel’s “Naturaleza muerta” earned a world auction record for the artist at $218,500. Michel’s previous record was $90,500.

Mexican Rodolfo Nieto’s “Hombre con botella,” which sold for $194,500—well above its $15,000-$20,000 estimate—set a world record for the artist. Nieto’s previous world auction record was $58,000. Another world auction record was set for Venezuelan artist Oswaldo Vigas, whose “Ceremonial” (1987) brought in $86,500. Vigas’ previous record at auction was $56,250.

World auction records were also set for:

• Costa Rican artist Juan Manuel Hernández for “Entre montañas” (2007) which achieved $98,500. His previous record was $21,250.
• Cuban artist’s Damián González’s, “Islote en la niebla”(2009), which sold for $68,500. His previous record was $42,500.
• Costa Rican sculptor Jorge Jiménez Deredia for “Arraigo,” which brought in $62,500. His previous record was $48,000.
• Brazilian artist Leda Catunda’s “Circulos” (1994), which achieved $25,000. Her previous record: was $11,881.
• Brazilian artist Frans Krajcberg for “Untitled” (1960) for a work on paper, which realized $25,000. His previous record was $14,639.

Other highlights include strong prices overall for works by Mexican, Columbian, Uruguayan, and Venezuelan artists, including Diego Rivera of Mexico, whose “Flowers for the Market” (1948) went for $158,500—well above its $60,000-$80,000 estimate. Chilean artist Matta’s Untitled, circa 1960, which came from The Baruch College Fund, sold for $866,500.

———————————

WorthPoint—Discover Your Hidden Wealth

Join WorthPoint on Twitter and Facebook.

Fernando Botero’s “Woman on a Horse” (2002) is estimated to bring between $800,000 and $1,200,000 in a sale of Latin American art hosted by Christie’s on May 26-27, 2010.

NEW YORK – On May 26 and 27, Christie’s Latin American sale will offer an exceptional selection of works by modern and contemporary masters hailing from Mexico, Venezuela, Brazil, Argentina, Puerto Rico, Colombia and many other regions throughout the Americas. Rich in works from private collections, the two-day auction presents nearly 300 works by leading Latin American artists such as Frida Kahlo, Fernando Botero, Joaquín Torres-García, José María Velasco, Gunther Gerzso, and Rufino Tamayo, among others.

Christie’s is deeply honored to offer “Survivor,” 1938 by Frida Kahlo (1907-1954) (estimate: $100,000-$150,000) as one of the outstanding highlights of the Latin American Evening Sale. This will mark the first time that this rare and extraordinary work has come to market since it was initially exhibited in 1938 at the Julien Levy Gallery, in Kahlo’s very first solo exhibition.

Fernando Botero is well represented in the sale with major works that exhibit both the breadth and scope of his oeuvre. Botero’s “Woman on a Horse” (2002; estimate: $800,000-$1,200,000), is a terrific, monumental bronze that demonstrates the artist’s penchant for playing with scale. This sculpture is an iconic example of one of the artist’s most beloved themes: the equestrian subject, in which a sumptuous, beautiful, strong female nude is executed in the bronze medium.

“Composición constructiva en planos y figuras,” by Joaquín Torres-García.

Also leading the Evening Sale is a notable work by the Uruguayan artist, Joaquín Torres-García. “Composición constructiva en planos y figures” (1931, estimate: $800,000-$1,200,000) is symbolically structured to embody an ideal harmony within the universe. In its grid-like formation and universal ideograms, the painting functions as a microcosm of universal order, a notion that emerged from the artistic practices and theories of Neo-Plasticism and Constructivism, envisioned by masters such as Piet Mondrian and Theo van Doesburg.

Paisaje de Papantla,” by Gunther Gerzso.

The cover lot of the sale is “Paisaje de Papantla” (1955; estimate: $550,000-$750,000), by Mexican artist Gunther Gerzso, one of the pioneers of abstraction in postwar Mexico. The influence of modern masters from Klee to Kandinsky can be felt in works like “Paisaje de Papantla,” a signature work of the artist’s mature period, powerfully extracting the literal architectural and cultural references of the landscape within a complex and fluid brightly-colored palette.

The sale has very strong Brazilian representation leading with a fabulous painting by Emiliano di Cavalcanti, who is hailed as the patriarch of modern Brazilian painting. “Sonhos do carnival” (estimate: $800,000- $1,200,000), executed in 1955, functions as a consummate image of the winsome “carioca” spirit and is both a modernist painting and a social affirmation of the artist’s identification with the underprivileged and marginalized classes of Brazilian society. Moreover, the painting demonstrates the way in which Di Cavalcanti celebrates the many beauties of the feminine body, depicting women in fantastic states of dreamlike reverie, lyrical gesture, and costumes vibrant in color and bold design.

“Sonhos do carnival,” by Emiliano di Cavalcanti.

Among the sale’s Brazilian representation are works executed by the artists Sergio Camargo and Beatriz Milhazes. Camargo’s “Relief No. 188” (1967; estimate: $500,000-$700,000), is made of diagonally cut wooden cylinders affixed to a flat wooden board, with each of the pieces projecting at different angles. The result is an endlessly fascinating study of volume and form, the interplay of light and shadow adding a layer of organic sensibility to the geometric construction. Milhazes’ “578” (estimate: $250,000-$350,000), painted in 1994, is a synthesis of baroque garb within a richly intellectualized pictorial environment—decorative details are reassembled into myriad serial and concentric circles. This laborious process is a hallmark of Milhazes, a self proclaimed “conceptual carnivalesque.”

“El Valle de México desde el Cerro de Santa Isabel,” by José María Velasco.

The sale offers a superb selection of works by Mexican artists. Leading the group is José María Velasco’s “El Valle de México desde el Cerro de Santa Isabel” (1884; estimate: $600,000-$800,000). Representing the artist’s mature style and personal conception of the Mexican landscape, the work depicts a wonderful sense of space and light bounded by the mountain panorama along the horizon. Other Mexican works include Alfredo Ramos Martínez’s, “Young Woman Carrying Flowers” (estimate: $350,000-$450,000) and Pedro Coronel’s “Sobre la tumba de Justino” (1974; estimate: $250,000-$350,000).

Danzantes,” by Rufino Tamayo.

The Lynch Family collection offers a superb group of Mexican paintings highlighted by masterworks by Rufino Tamayo and José Clemente Orozco. Notably, “Danzantes” (estimate: $500,000-$700,000), a 1963 oil and sand painting, the work is a culmination of the undeniable expressionist and abstract influences the artist fused with his own celebrated, signature style. Also included is José Clemente Orozco’s “The City” (1929; estimate: $200,000-$300,000), a jarring work that visually captures the cultural, social and economic devastation of the Stock Market Crash of 1929.

For more information about this auction, visit Christie’s Web site.

———————————

WorthPoint—Discover Your Hidden Wealth

Join WorthPoint on Twitter and Facebook.

From Bloomberg:
Bergman Chess Pieces, Headset Stir Swedish Bid Frenzy

Possessions of Ingmar Bergman, the influential and prolific Swedish director who died two years ago, went on the block and did phenomenally well. The chess set that Death played with in “The Seventh Seal,” for instance, went for 100 times its minimum bid— $143,270. All told, the auction brought in 17.9 million kronor ($2.5 million), almost 16 million kronor above minimum asking prices.

From The New York Times:
Kahlo Trove: Fact or Fakery?

If the 1,200 items truly belonged to Mexican artist Frida Kahlo, an art and antiques dealer is sitting on a fortune. However, the authenticity of stuffed hummingbirds, a private notebook and such has been called into question. Let the legal games begin.

From The New York Times:
Antiques: Efforts Underway to Save Swedish Glass-Making Archive

Orrefors Kosta Boda has been making glassware since the 1700s, keeping an impressive archive of 5,000 prototypes. The company that bought the Swedish company in 2005 has fallen on hard times and now wants to sell off the archives. A nonprofit is hopeful it can raise $1.7 million so that the collection can be maintained in the town of Orrefors.

From The Guardian (UK):
Christie’s to auction possessions of George, Duke of Kent

George, duke of Kent, led a gossip-filled life before he died in a 1942 plane crash that spawned many conspiracy theories. Rumored to be a homosexual with lovers the likes of Noel Coward, he had married Princess Marina of Greece and Denmark, a great beauty and considered one of the best-dressed women in Europe. Their possessions are up for auction in October. For the second time. His widow auctioned them in 1947 because she no longer received money from the realm, the kids got the money in a trust, and she needed cash.

From The Associated Press via Auction Central News:
Armed robbers steal Magritte painting worth $1.1 million

The heist was well planned. Surrealist Rene Magritte’s former home in Brussels has been turned into a small museum, visits by appointment only. One robber went in first, brandishing a weapon. He let in a second robber. Museum personnel and tourists were forced into another room while “Olympia,” a 1948 oil painting worth more than $1 million, was snatched from the wall. The robbers made their escape by car. What will become of the painting remains to be seen since it can’t be sold on the open market.

From Bloomberg:
Mercedes, Ferrari Lots Top $4 Million Car Auction

Ferrari and Mercedes-Benz beat out one of the earliest Bugatti racing cars at a recent French auction. A 1968 Ferrari 330 GTS Spyder convertible sold for €458,500 ($670,000), more than €100,000 above its high estimate. However, only 64 percent of the lots sold. This poor showing is being partially attributed to the sale being in euros at a time when the British pound has fallen against euro.

From Auction Central News:
$149,500 fire truck is no. 1 at Bertoia’s sale of Kaufman toys, part II

One thing you have to say about Donald Kaufman, he collected a lot of antique toys. The co-founder of KB Toys is on his third auction, this one bringing in about $3 million. The top seller out of the 1,129 lots was a German Marklin steam fire truck (circa 1912) that went for $149,500.

WorthPoint—Discover Your Hidden Wealth

Join WorthPoint on Twitter and Facebook.

Hair Today, On eBay Tomorrow

A paparazzo hit collectibles gold when Kate Moss dropped her blonde hair extension in Berlin fleeing from prying cameras. An item on Yahoo! News reported that photographer John Farr picked it up and posted it on German eBay to benefit the anti-drug charity, Keine Macht den Drogen (No Power to Drugs). Considering the supermodel’s documented problems with addictions, not a bad choice by Farr. According to Monsters and Critics someone actually paid £637 (that’s more than $1,200) for the item. As experienced eBay watchers know, high sale prices on similar celebrity items have, on more than one occasion, turned out to be bogus bids.

Endowment or the Art

If the students and alumnae of Randolph College in Lynchburg, Va., had their way, Rufino Tamayo’s painting, “Trovador,” would not have gone to auction. But it did, and the Latin work of art set a striking new record for Latin American art. According to The New York Times, Tamayo’s masterpiece was set to hit the auction block in November but was withdrawn after a group of students, donors and alumnae got an injunction forcing a halt of the sale. The painting was put back in Christie’s catalog for its Latin American Evening Sale May 28. As reported by ArtDaily, “Trovador” sold for $7,209,000, surpassing the previous record set by Frida Kahlo’s “Roots,” which went for $5,616,000 in May 2006. The Christie’s sale also set the highest total for an auction of Latin American art: $26,632,850.

Gold Rush Gold Coin

A $20 gold piece known as the Kellogg Twenty goes on public exhibit after 28 years. The blog CoinLink reports that the 154-year-old coin is the only one of its kind with a “specimen strike” and, adding to its value, carries the provenance of historic California Gold Rush figures. The coin was manufactured by John Glover Kellogg, who gave it to a friend, August Humbert. Both men worked in the San Francisco U.S. Assay Office during the Gold Rush. The coin will be a highlight of the American Numismatic Association’s World Fair of Money in Baltimore running from July 30 to August 1.

Phenomenal Dolls

American Girl Doll collectibles have been a phenomenon for some time, but AG fever is expected to hit a new high with the successful release of “Kit Kittredge: An American Girl.” A New York Times article explores the culture of collecting American Girl Dolls and its ramifications on young collectors.

Lessons from a Sports Memorabilia Tragedy

A Wall Street Journal article offers advice to collectors in the event that their beloved sports collectibles are lost or stolen. A lost piece of memorabilia can’t be replaced but it can be insured. This awareness would have softened the blow to Negro League star Art Pennington. According the blog, Sports Collectors Daily, the 85-year-old is reeling after Iowa floods saturated his homegrown baseball museum and destroyed almost all physical evidence of his life’s work. For more details on Pennington, check out this CNN report.