Artcurial’s sale of Michel Fedoroff’s collection boosts the French art market
Art Market | On 28th November 2016, the auction house Artcurial sold the collection belonging to Michel Fedoroff – a Monaco-based, French collector- revealing an upward trend in the relevance of the French art market. Former CEO of a music production and editing firm, sensitive to his time’s mutations, the art aficionado was close to the artists and knew how to renovate his primary collection. He built intimate ties with diverse art galleries that guided his purchases (Lœvenbruck, Villepoix, Ferrero...) and he supported young artists, often sponsoring them.
In the wake of the sale of Marcel Brient’s collection Une page française at Sotheby’s in 2012, Artcurial’s sale results for the Fedoroff collection draw attention to the rise of the French art scene. 42 of the 62 artists whose works were being auctioned, were French or residing in France and six of them were laureates of the Marcel Duchamp Prize : Phillipe Mayaux, Mathieu Mercier, Tatiana Trouvé, Saadane Affif, Dewar et Gicquel, Kader Attia.
There were 114 lots on sale in total, 64% were sold exceeding the estimates, 19% matched them, 8% were sold under their low estimated value and 11% were bought-in (remained unsold). The global sales result of 3.600.000 euros widely surpassed the initial estimates that were between 1.800.000 and 2.700.00 euros, reaching 100% more than the low estimate. Artcurial registered a world record for a work by Martin Barré sold at auction : his spray painting 63-F-5 (1963) which had an estimated value of between 150.000 and 250.000 euros, was sold for 715.800 euros to an American collection. Another record for a work by Claude Gilli (deceased in 2015) was reached for his artwork Ex voto (Johnny Halliday) (1961), estimated between 10.000 and 15.000 euros and sold for 74.100 euros.
Artcurial’s auction sale has also revealed the secondary market’s interest towards the younger generation of French artists, as we can see from the sales of Philipe Mayaux and Philippe Ramette’s works which were sold above their estimated value. It is also the case of two artists supported by the gallery Lœvenbruck, who stood out with the sales of some of their emblematic works :
- Bruno Peinado (born 1970), The big one world (2000), estimated between 40.000 and 60.000 euros and knocked down at auction for 100.100 euros;
- Daniel Dewar & Grégory Gicquel (born respectively in 1976 and 1975), Mason Massacre, estimated between 40.000 and 60.000 euros and sold at auction for 149.500 euros.
The results of the Fedoroff collection’s sale at Artcurial unlocked a new ground of possibilities, showing the rise of international interest towards some historic artists from the French contemporary art scene. These outstanding results have also reflected the stronger support to French art by diverse actors of the national art market.
Publié le 15/12/2016
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