PHILADELPHIA, PA—Freeman’s is delighted to announce the results of its highly successful Modern & Contemporary Art Auction—their first online fine art sale of 2020. With an impressive sell-through rate of 95%, the 58-lot sale achieved over $1 million, just shy of its pre-sale high estimate. Strong prices were achieved for Latin American, English, and iconic American Pop artists. With many consignments from private New York collectors, the auction included notable works by Henri Matisse, Pablo Picasso, Diego Rivera, and Andy Warhol.
“We were delighted to see that the market remains competitive for top works by blue-chip artists, and to achieve an enviable sell-through rate in our first online fine art sale,” said Dunham Townend, Head of Freeman’s Modern & Contemporary Art Department. With this most recent success, Freeman’s raises its average sell-through rate for its 2020 fine auctions to 93.5%.
SECOND HIGHEST PRICE ACHIEVED AT AUCTION FOR “CHANEL” BY ANDY WARHOL
The sale was led by Chanel, an iconic print from Andy Warhol’s, Ads series, which sold for $175,000—nearly the high end of its pre-sale estimate. This price is the second-highest ever fetched at auction for this important screenprint. Robust pre-sale interest and spirited bidding from the East and West Coasts, as well as from Europe, culminated in one of the highest auction prices ever achieved for this iconic Pop image.
ROBUST PRICES ACHIEVED FOR BRITISH MODERNISTS
Skoob Assemblage by British Modernist John Latham was a runaway success. Bidders from the United Kingdom, Europe, and America competed vigorously for this fresh-to-market assemblage by one of England’s most celebrated Conceptual artists. The work more than quintupled its pre-sale low estimate, realizing $27,500.
Similar-spirited bidding drove Lynn Chadwick’s Pair of Cloaked Figures to sell for $43,750. This quintessential example by the revered British sculptor had been in a private New York collection since 1978.
These robust results continue Freeman’s long-established history of success with Modern British artists including William Scott, Henry Moore, and John Hoyland.
Lot 44: Skoob Assemblage, John Latham (British, 1921-2006)
Sold for: $27,500 (buyer’s premium included)
Lot 30: Yellow Road, Alex Katz (American, born 1927)
Sold for: $46,875 (buyer’s premium included)
Lot 2: Soldat Marocain et Hamido, Henri Matisse (French, 1869-1954)
Sold for: $18,750 (buyer’s premium included)