Before watching the sale online this morning at Christie’s of Impressionist and Modern Art, which included a painting by Boudin we were selling for a New York family, I found myself reminiscing.
Not so much about the painting—a gorgeous French port scene dated 1890—but rather of the family itself. For while we had sold many works for them in years past—furniture and decorations, Russian art, maritime memorabilia as well as Impressionist and Contemporary paintings—this was the very last item remaining in the collection.
It might have been sold years earlier. But in a lovely sentimental gesture, the family lent the painting to an elderly and beloved aunt for her to enjoy during her remaining years. And as she had passed away some months ago, just before the assault of Covid-19, it was not until late August that the painting could be removed from the lady’s apartment on Park Avenue and transported to Christie’s for today’s sale.
Taking the painting off the wall, I was startled to see two sheets of paper tacked on the reverse, both heavily covered in dust. One was an appraisal of the painting done by Christie’s in 2005, when she took possession; and the other was a sheet of our firm’s stationery with various contact information. On the Christie’s sheet the lady had scribbled instructions for the painting to be sent back to her nieces and nephews on her passing. I had only met this charming lady once, and yet her sparkling personality suddenly came rushing back to me.
And so today the painting was sold. Knowing the somewhat declining fortunes of the Impressionist and Modern Art market in recent years, we had some trepidations, not only about the most realistic and enticing estimate for the picture but also about interest level for it in an art market so defined these days by all things Contemporary.
On the other hand, the painting had everything going for it: superb provenance, distinguished family name, fresh to the market, excellent condition. And in its gilded frame it had plenty of wall power. The Christie’s team thus gave the painting an estimate of $80,000-120,000. We then crossed our fingers.
But when lot 547 came up this morning, with the suave and charismatic Rahul Kadakia on the podium as auctioneer, the bidding exploded. It reached the low estimate, then the high, and in a prolonged battle between two bidders the picture finally went for $225,000 with premium.
I was sitting at home watching all this on my laptop. Normally I would have been sitting in the saleroom, savoring in person all the color and excitement of a pitched bidding battle. But that was pre-Covid-19. Still, it was a moment to savor.
For despite all the changes, disruptions and reinventions of recent months, the art market still recognizes genuine quality when it comes on the block.