One can’t assist but speculate number of nattily decent citizens sitting countless nights at International auction houses viz. Sotheby’s, Christie’s and Phillips de Pury in coming next two weeks. A good percentage could be of serious bidders and others would be voyeurs eager to observe an implosion of $$$$ art market. It’s now being years that collectors and media have been waiting for the day when prices would finally top. But this time auction houses are hopeful that time will take a toll and things will play out well as they did three months ago in London, when, in spite of global economic nausea, a Francis Bacon triptych painting fetched $51.6 million.

Some highlights of the upcoming auctions:

Artist: Francis Bacon

Artwork: “Three Studies for Self-Portrait,’’ Triptych 1976
Auction House: Christie’s
Ballpark Figure: $25 million and $35 million

Artist: Jeff Koons

Artwork: “New Hoover convertibles, New Shelton Wet/Drys 5-Gallon, Double Decker”
Auction House: Christie’s
Sales: Christie’s post-war and contemporary sales
Ballpark Figure: $10 million
Date: 13 May

Artist: Monet

Artwork: “Le Pont du Cheminde Fer � Argenteuil,” 1873

Auction House: Christie’s
Ballpark Figure:$35 million
Date: 6 May

Artist: Edvard Munch

Artwork: “Girls on a Bridge,” a 1902 oil canvas painting
Auction House: Sothey’s New York Impressionist and Modern Art – Part I auction
Ballpark Figure: $28 million
Date: 7 May
Artist: Alberto Giacometti

Artwork: “Grande Femme Debout II,” 1959-60
Auction House: Christie’s
Ballpark Figure: $18 million
Date: 13 May
Artist: Henri Matisse, French painter

Artwork: “Portrait au mateau bleu”
Auction House: Christie’s Spring Impressionist and Modern sales
Ballpark Figure: $17 million
Date: 6 May
Artist: Pierre Patel the Elder

Artwork: ‘A landscape at Evening with Travelers’ and a Hunter Near Classical Ruins’ painted around 1640
Auction House: Sotheby’s London
Ballpark Figure: $800,000-$1.2 million
Date: 9 July

Via NYT

Can you imagine a sofa getting sold off for 80,000 pounds ($159,000)? If not then start convincing yourself as a Ron Arad sofa may fetch up to 80,000 pounds ($159,000) at a London sale this week. It is a clear symptom of growing demand for “design art.” But even after dropping this hefty dough you cannot afford to sit on this steel work.

Ben Williams, a design expert at Phillips de Pury engaged in selling the Arad couch, titled “Early Big Easy Volume 2 for 2 Sofa”1989 said: If you are carrying jeans, then it is suggestive to be actually cautious. Usually they serve as a sculptural element but can be used for sitting on occasionally. Other designer creation includes “Alligator Chair,” carved out of children’s cuddly alligator toys and anticipated to fetch 25,000 pounds at Phillips. Other highlights of the 246 objects featured at sale include a carbon-fiber table designed by Australian- born Marc Newson may fetch up to 200,000 pounds.

It is estimated that Phillips’s inaugural design sale in London would generate a sale of 1.4-2 million pounds.
The limited edition of Newson’s three-legged “Black Hole” table, dating back to 2006 may get sold off for 235,448 euros ($375,000).

Via WilliamVerdult