Satisfactory results for Fine Arts Auction Miami’s opening auctions

Miami, 14 December 2011, Art Media Agency (AMA).

The director of the office European Evaluators in New York, Frédéric Thut, created the auction house FAAM: Fine Art Auctions Miami, earlier this year in July. The auction house in Miami is in partnership with the Cabinet d’Expertise Dan Coissard in Paris, and is specialised in 19th and 20th century paintings and sculpture (modern and contemporary art, Russian painting of the École de Paris, Orientalist painting, Chinese and Asian painting). On 3, 4 and 5 December, three opening sessions took place by FAAM which gathered 477 lots. The three sessions included the auction “Works on paper and Photography”, “Important Paintings and Sculptures” and an auction on Art Deco furniture from the 20th century.

The auctions took place while major contemporary art fairs were taking place in Miami (Miami Art Basel, Art Miami etc.) and favoured the auctions with successful lots. The total sales figure of the auctions was $8.3 m (with charges).

The auction “Works on paper and Photographs” on 3 December, included great masters’ works, such as Fernand Léger, René Magritte, Pablo Picasso, Marc Chagall and Roberto Matta. The silkscreen print, The Figure 5, by Robert Indiana was sold for $1,599, and a drawing by Claudio Bravo, depicting a young boy was sold for $7,380. A coloured lithograph by René Magritte entitled, Une porte s’ouvre sur la nuit veloutée (1968), received $2,706. The work Virgin with Child (numbered 2/5) by French-Russian photographer Vlada Krassilnikova was acquired for $4,920. Portrait d’Helmut Newton by Silas Shabelewska achieved $11,070. Finally, works by Turkish artist Burhan Dogançay marked the edition, notably the 1985 print, Twin Towers, which received $10,332, while his paper gouache, New York Parking Lot (1964) was sold for $13,530.

Several of the 142 lots from the second session, “Important Paintings and Sculptures”, exceeded a million dollars and the session ended with $7.5 million as the total sales figure. The auction started with a selection of works from the Latin American School. The Candido Portinari painting, Cena de Morro, was sold by phone for $455,100. The star lot of the Latin-American School was the brilliant Portrait de jeune fille et son chat, by Fernando Botero, sold for $910,200.

Auctions soared for two monumental pieces, a painting and a sculpture by Robert Indiana; One Indiana Square and the iconic LOVE, acquired for $1.5 m and $1.04 m. Also, an enigmatic oil painting by Yves Tanguy, dated 1937, was sold for $1.7 million, and the work A balcony seat, by American illustrator Norman Rockwell was sold for $369,000.

A part of the auction was dedicated to the private Russian Art Non Conformiste collection of collector Norton Dodge, with Boris Sveshnikov’s works doubling their high estimation and receiving approximately $80,000-93,000.

The Art Deco auction on 5 December, which was held in collaboration with the Cabinet d’expertise Plaisance, also received several successful results. A Daum Nancy vase was sold for $10,000, while another by Émile Gallé received a total of $16,000. An enamelled copper vase by Camille Fauré, reached $27,000. In the furniture section, a bookcase by Eugène Printz was acquired for $44,000, and a round table by Jules Leleu & Katsu Hamanaka achieved $16,000. Finally, the star lot of the session was a buffet by Eugène Printz dating between 1930-1935, sold for $184,500.