Buying art in times of Covid-19
Although no works of art broke the US$100 million barrier in 2020, auction houses still achieved some eye-catching prices as they adjusted quickly to the Covid-19 pandemic by launching innovative online platforms and new sales formats. In this article we have curated a diverse selection of some of last year’s top-selling and most noteworthy sales.
10 March 2021
Francis Bacon’s 1981 Triptych Inspired by the Oresteia of Aeschylus, fetched US$84.6 million with Sotheby’s New York in June, making it the most valuable work of art to be auctioned in 2020.
The 14.83 carat Spirit of the Rose, the largest vivid purple-pink diamond to appear at auction, sold for Swfr24.4 million (US$26.6 million) at Sotheby’s Geneva in November.
Stan, one of the most complete T-Rex skeletons ever found, made a record US$31.8 million at Christie’s October Evening Sale of 20th Century Art.
Alberto Giacometti’s 1958 72cm bronze Femme Debout attracted a bid of US$12 million via Sotheby’s mobile app, ultimately selling for US$13.7 million in London in July.
A 1932 Bugatti Type 55 Super Sport Roadster was sold by Bonhams for US$7.1 million – one of the highest classic car auction prices of 2020 – at the March Amelia Island sales.
An Imperial green jadeite bead, ruby and diamond necklace was sold by Sotheby’s for HK$80.7 million (US$10.4 million) in July.
An engraved stainless steel Rolex Daytona Ref. 6263 owned by actor Paul Newman sold for US$5.5 million at Phillips’ Racing Pulse sale in New York in December.
William Shakespeare’s 1623 Comedies, Histories, & Tragedies, often referred to as the “First Folio”, was sold by Christie’s New York in October for US$10 million – an auction record for a literary work.
An Hermès Himalaya Niloticus Crocodile Retourné Kelly 25 broke the record for a handbag sold at auction when it was sold by Christie’s for HK$3.4 million (US$437,330) in November.
A Chinese Yongzheng period (1722–1735) vase achieved S$6.9 million (US$4.9 million) in May – a record for Singapore auction house HotLotz and for any lot sold via online marketplace thesaleroom.com.
Bonhams achieved a record-breaking HK$6.2 million (US$795,000) for a bottle of Yamazaki 55-year-old Japanese whisky at its Fine Wine & Whisky sale in August.
Sotheby’s sold an autographed 1985 pair of basketball player Michael Jordan’s game-worn Air Jordan 1s for a record-breaking US$560,000 online in May.
All images courtesy of Bonhams, Sotheby’s, Christie’s, Phillips and thesaleroom.com
Unless otherwise stated, all prices include buyer’s premium.
