New York auction records expected for a Magritte... and a banana - Art & Culture

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class="tjp-breadcrumb__list-item"> <a href="https://www.thejakartapost.com/culture">Culture</a> </li> <li class="tjp-breadcrumb__list-item active"> <a href="https://www.thejakartapost.com/culture/art-culture">Art & Culture</a> </li> </ul> </div> <h1 class="tjp-title tjp-title--single">New York auction records expected for a Magritte... and a banana</h1> <p class="tjp-summary tjp-summary--single"> The seminal 1954 work is one of a series of paintings from the Surrealist master depicting the interplay of shadow and light. Its estimated price is $95 million, which would easily shatter the previous record for a Magritte, $79 million in 2022. </p> <div class="tjp-meta"> <span class="tjp-meta__label"> Ana Fernandez (AFP) </span> <div class="tjp-meta__content"> <div class="tjp-meta__content-list"> <div class="tjp-meta__content-item"> New York, US </div> <div class="tjp-meta__content-item"> Wed, November 20, 2024 </div> </div> </div> </div> </div> <div class="tjp-single__head-item tjp-single__head-item--action"> <div class="tjp-sticky-popup tjp-sticky-popup--share"> <button class="tjp-sticky-popup__action"> <i class="fa-regular fa-share-from-square"></i> </button> <div class="tjp-sticky-popup__content"> <div class="tjp-sticky-popup__content-head"> <h1 class="tjp-sticky-popup__content-head-title"> Share this article </h1> </div> <div class="tjp-sticky-popup__content-list"> <div class="tjp-sticky-popup__content-list-item"> <a class="tjp-sticky-popup__content-list-btn" href="https://www.facebook.com/sharer/sharer.php?u=https://www.thejakartapost.com/culture/2024/11/20/new-york-auction-records-expected-for-a-magritte-and-a-banana.html" target="_blank"> <div class="icon"> <i class="fa-brands fa-facebook-f"></i> </div> <div class="text"> <span>Facebook</span> </div> </a> </div> <div class="tjp-sticky-popup__content-list-item"> <a class="tjp-sticky-popup__content-list-btn" href="https://web.whatsapp.com/send?text=New York auction records expected for a Magritte... and a banana https://www.thejakartapost.com/culture/2024/11/20/new-york-auction-records-expected-for-a-magritte-and-a-banana.html" target="_blank"> <div class="icon"> <i class="fa-brands fa-whatsapp"></i> </div> <div class="text"> <span>WhatApp</span> </div> </a> </div> <div class="tjp-sticky-popup__content-list-item"> <a class="tjp-sticky-popup__content-list-btn" href="https://twitter.com/intent/tweet?text=New York auction records expected for a Magritte... and a banana%20https://www.thejakartapost.com/culture/2024/11/20/new-york-auction-records-expected-for-a-magritte-and-a-banana.html" target="_blank"> <div class="icon"> <i class="fa-brands fa-x-twitter"></i> </div> <div class="text"> <span>X</span> </div> </a> </div> <div class="tjp-sticky-popup__content-list-item"> <a class="tjp-sticky-popup__content-list-btn" href="https://www.linkedin.com/sharing/share-offsite/?url=https://www.thejakartapost.com/culture/2024/11/20/new-york-auction-records-expected-for-a-magritte-and-a-banana.html" target="_blank"> <div class="icon"> <i class="fa-brands fa-linkedin-in"></i> </div> <div class="text"> <span>LinkedIn</span> </div> </a> </div> <div class="tjp-sticky-popup__content-list-item"> <a class="tjp-sticky-popup__content-list-btn" href="https://telegram.me/share/url?url=https://www.thejakartapost.com/culture/2024/11/20/new-york-auction-records-expected-for-a-magritte-and-a-banana.html&text=New York auction records expected for a Magritte... and a banana" target="_blank"> <div class="icon"> <i class="fa-brands fa-telegram"></i> </div> <div class="text"> <span>Telegram</span> </div> </a> </div> <div class="tjp-sticky-popup__content-list-item"> <a class="tjp-sticky-popup__content-list-btn" href="mailto:?subject=New+York+auction+records+expected+for+a+Magritte...+and+a+banana&body=Check out this article:%0A%0Ahttps://www.thejakartapost.com/culture/2024/11/20/new-york-auction-records-expected-for-a-magritte-and-a-banana.html%0A%0ANew+York+auction+records+expected+for+a+Magritte...+and+a+banana" target="_blank"> <div class="icon"> <i class="fa-regular fa-envelope"></i> </div> <div class="text"> <span>Email</span> </div> </a> </div> </div> <div class="tjp-sticky-popup__content-link"> <span>http://www.thejakartapost.com/culture/2024/11/20/new-york-auction-records-expected-for-a-magritte-and-a-banana.html</span> <button class="tjp-sticky-popup__content-list-btn" onclick="copyLink(this)"> <i class="fa fa-copy"></i> Copy Link </button> </div> <div class="tjp-sticky-popup__content-notes"></div> <div class="tjp-sticky-popup__content-action"> <button class="tjp-sticky-popup__content-action-btn"> <i class="fa-solid fa-gift"></i> <span>Gift Full Article</span> </button> </div> </div> </div> <div class="tjp-sticky-popup tjp-sticky-popup--text-size"> <button class="tjp-sticky-popup__action"> <img src="/skin/img/icons/icon-size.svg" alt="TJP Icon - 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As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed! </div> <div class="tjp-sticky-popup__content-auth"> <button class="tjp-sticky-popup__content-action-login">Log in</button> <button class="tjp-sticky-popup__content-action-subscribe">Subscribe</button> </div> </div> </div> </div> <div class="tjp-single__head-item"> <div class="tjp-image"> <img class="lazyload" src="https://img.jakpost.net/c/2023/11/21/2023_11_21_144551_1700540826.png" data-src="https://img.jakpost.net/c/2024/11/20/2024_11_20_157490_1732081026._large.jpg" alt="New York auction records expected for a Magritte... and a banana"> <span class="tjp-image__caption"> <span class="created"> Rene Magritte's “L'empire des lumières“ is on display during a press preview for Christie's Fall 20/21 Marquee Week in New York, November 8, 2024. ( AFP/-) </span> </span> </div> </div> </div> <div class="tjp-single__content"> <div class="tjp-opening tjp-opening--wide"><h1 class="tjp-opening__char">W</h1><p class="tjp-opening__txt">ith a Magritte painting estimated to sell for nearly $100 million, drawings by pop artist Keith Haring and... a rather gnarly banana, New York's auction houses will try this week to shake up a stale market.</p></div><p>The sale of Magritte's "Empire of Light" (<em>"L'Empire des lumieres"</em>), which will go under the hammer Tuesday night at Christie's, will surely be one of the high points of the autumn season, which will see hundreds of works sold -- and hundreds of millions of dollars spent.</p> </p><p>The seminal 1954 work is one of a series of paintings from the Surrealist master depicting the interplay of shadow and light. Its estimated price is $95 million, which would easily shatter the previous record for a Magritte, $79 million in 2022.</p> </p><p>Christie's is hoping that with the Magritte and a celebrated 1964 painting of a gas station by the 86-year-old American pop artist Ed Ruscha, it can reinvigorate an art market that has slowed since 2023.</p> </p><p>The auction house -- which is controlled by Artemis, the investment holding company owned by the Pinault family -- said sales totaled $2.1 billion in the first half of 2024.</p> </p> <div class="tjp-single__content-ads d-hidden"> <div id="div-gpt-ad-74843-3"> <script> googletag.cmd.push(function() { googletag.display("div-gpt-ad-74843-3"); }); </script> </div> </div> <div class="tjp-single__content-ads m-hidden"> <div id="div-gpt-ad-74843-2"> <script> googletag.cmd.push(function() { googletag.display("div-gpt-ad-74843-2"); }); </script> </div> </div> <p>That is down for the second straight year, after a peak of $4.1 billion in 2022, as the world emerged from the coronavirus pandemic.</p> </p><p>"The current market correction, which began in 2023 with global geopolitical unrest, high inflation and interest rates affecting collectors, has spilled into 2024," Bank of America said in a note.</p> </p><p>"Less marquee estate property in the May sales potentially also dampened bidders' confidence and enthusiasm."</p> </p><p>For Max Carter, the vice chairman for 20th and 21st century art at Christie's, "our market is very much defined, certainly now, by supply more than demand."</p> </p><p>"And this season, we happen to have all of the great estate material, all the great discretionary sales, and we feel very optimistic," Carter said.</p> </p> <div class="tjp-single__content-ads d-hidden"> <div id="div-gpt-ad-74843-5"> <script> googletag.cmd.push(function() { googletag.display("div-gpt-ad-74843-5"); }); </script> </div> </div> <div class="tjp-single__content-ads m-hidden"> <div id="div-gpt-ad-74843-4"> <script> googletag.cmd.push(function() { googletag.display("div-gpt-ad-74843-4"); }); </script> </div> </div> <p>Sotheby's is hoping to make a tidy profit from the sale of private collections, like that of Sydell Miller, a beauty industry mogul who died this year and whose Florida home reputedly looked like a museum.</p> </p><p>The auction house is hoping the collection will generate $170-205 million in sales, including one of Claude Monet's celebrated paintings of "Water Lilies" (<em>"Nympheas"</em>), which is expected to rake in more than $60 million alone.</p> </p><p>Sotheby's, owned by French-Israeli billionaire Patrick Drahi, is also selling a series of 31 crayon drawings done by Haring in the 1980s in blank advertising spaces in the New York City subway system. </p> </p><p>And one of the highlights of the week will be a fresh banana taped to a wall, a provocative work by Italian artist Maurizio Cattelan. </p> </p><p>The debut of "Comedian" at Art Basel Miami Beach in 2019 sparked controversy. This is its third iteration -- the first two were eaten, according to Sotheby's website.</p> </p><p>This time, the auction house believes the work, a commentary on what qualifies as art, could go for $1-1.5 million. 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New York auction records expected for a Magritte... and a banana - Art & Culture - The Jakarta Post