{"id":8650,"date":"2014-11-05T12:27:18","date_gmt":"2014-11-05T11:27:18","guid":{"rendered":"http:\/\/www.conceptualfinearts.com\/cfa\/?p=8650"},"modified":"2014-11-05T13:29:55","modified_gmt":"2014-11-05T12:29:55","slug":"giacomettis-record-at-sothebys-asserts-the-loeb-effect","status":"publish","type":"post","link":"https:\/\/www.conceptualfinearts.com\/cfa\/2014\/11\/05\/giacomettis-record-at-sothebys-asserts-the-loeb-effect\/","title":{"rendered":"Modern &#038; Impressionists&#8217; record asserts the Loeb effect on Sotheby&#8217;s"},"content":{"rendered":"<p>&nbsp;<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-1' class='gallery galleryid-8650 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.conceptualfinearts.com\/cfa\/2014\/11\/05\/giacomettis-record-at-sothebys-asserts-the-loeb-effect\/fall-art-auctions-preview-2\/'><img loading=\"lazy\" decoding=\"async\" width=\"113\" height=\"150\" src=\"https:\/\/www.conceptualfinearts.com\/cfa\/CFA-content\/uploads\/2014\/11\/article-urn-publicid-ap.org-d6b502288ffa42789102a41d943fad14-6TqekeKp8-HSK1-281_634x845-360x480.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"gallery-1-8652\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-8652'>\n\t\t\t\tAlberto Giacometti&#8217;s Chariot sold for $101 million.\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.conceptualfinearts.com\/cfa\/2014\/11\/05\/giacomettis-record-at-sothebys-asserts-the-loeb-effect\/fall-art-auctions-preview\/'><img loading=\"lazy\" decoding=\"async\" width=\"113\" height=\"150\" src=\"https:\/\/www.conceptualfinearts.com\/cfa\/CFA-content\/uploads\/2014\/11\/article-urn-publicid-ap.org-d6b502288ffa42789102a41d943fad14-6Tqeese0FHSK2-284_634x837-363x480.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"gallery-1-8651\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-8651'>\n\t\t\t\tVincent van Gogh&#8217;s Nature morte, vase aux marguerites et coquelicots sold for $61.8 million.\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.conceptualfinearts.com\/cfa\/2014\/11\/05\/giacomettis-record-at-sothebys-asserts-the-loeb-effect\/modigliani-caryatide-1\/'><img loading=\"lazy\" decoding=\"async\" width=\"108\" height=\"150\" src=\"https:\/\/www.conceptualfinearts.com\/cfa\/CFA-content\/uploads\/2014\/11\/modigliani-caryatide-1-345x480.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"gallery-1-8653\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-8653'>\n\t\t\t\tAmadeo Modigliani&#8217;s T\u00eate sold for $70.7 million.\n\t\t\t\t<\/dd><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>&nbsp;<\/p>\n<p>The therapy that <a href=\"http:\/\/www.thirdpoint.com\/executive-team\/daniel-s-loeb\/\" target=\"_blank\">Third Point LLC founder and art collector Daniel Loeb <\/a>prescribed for Sotheby&#8217;s, that also includes the huge amount of money, about $25 million, that the company had to pay in <a href=\"http:\/\/www.conceptualfinearts.com\/cfa\/2014\/04\/23\/daniel-s-loebs-attack-to-the-sothebys-three-is-an-open-letter-published-on-the-web?FBscrape=1\">the campaign against Loeb<\/a> who nevertheless managed to be appointed in <a href=\"http:\/\/www.bloomberg.com\/news\/2014-05-29\/billionaire-loeb-confirmed-as-sotheby-s-new-board-member.html\" target=\"_blank\">Sotheby&#8217;s board<\/a> along with two of his candidates \u2013 is having the desired effect. Last night <a href=\"http:\/\/www.sothebys.com\/content\/sothebys\/en\/news-video\/blogs\/all-blogs\/impressions\/2014\/11\/titans-modern-sculpture-redefine-market.html\" target=\"_blank\">the Impressionist &amp; Modern Art Evening sale<\/a> reached the \u201chistoric\u201d total of $422.1 million, \u201cthe highest total in Sotheby&#8217;s history\u201d as the company has proudly announced on its brand new and finally fast web-site a few hours after the auction.<\/p>\n<p>&nbsp;<\/p>\n<p>As all the media are reporting, a further confirmation of the importance that record prices have in art communication, the top lot of the sale has been \u201cChariot\u201d, a bronze sculpture executed by Alberto Giacometti between 1951 and 1952: $101 million. Then a beautiful Tete by Amedeo Modigliani &#8211; 73 centimetres high, carved between 1911 and 1912, estimate upon request before the auction \u2013 fetched\u00a0$70,7 million, while Vincent van Gogh&#8217;s \u201cNature morte, vase aux marguerites et coquelicots\u201d went for $61.8 million. Among the 14 works by Pablo Picasso on sale, only two of them haven&#8217;t find a buyer. The other 12 collected a total of $49.2 million, while the four Monet available sold for $69.5 million.<\/p>\n<p>&nbsp;<\/p>\n<p>According to the \u201c<a href=\"http:\/\/www2.deloitte.com\/lu\/en\/pages\/financial-services\/articles\/art-finance-report-2014-press-release.html\" target=\"_blank\">Art &amp; Finance report\u201d published by Deloitte <\/a>in the first half of 2014, Christie&#8217;s and Sotheby&#8217;s sold the 88% more of what they had sold in the entire 2013, that was a year of records, with 8% more selling then 2012. If the market will continue this way it could be a really good time to buy some of Sotheby&#8217;s shares, as suggested by <a href=\"http:\/\/online.barrons.com\/articles\/sothebys-shares-look-like-collectibles-1414811546\" target=\"_blank\">Barron&#8217;s<\/a> just few days ago. A new significant signal may come in a few hours, with <a href=\"http:\/\/www.sothebys.com\/en\/auctions\/2014\/impressionist-modern-art-day-sale-n09220.html\" target=\"_blank\">Sotheby&#8217;s Impressionist and Modern Day Sale<\/a>, from 10.00 am, New York time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; The therapy that Third Point LLC founder and art collector Daniel Loeb prescribed for Sotheby&#8217;s, that also includes the huge amount of money, about $25 million, that the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8653,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1796],"tags":[1846,346,1778],"class_list":["post-8650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mapping-the-artscape","tag-alberto-giacometti","tag-amedeo-modigliani","tag-vincent-van-gogh"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/posts\/8650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/comments?post=8650"}],"version-history":[{"count":0,"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/posts\/8650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/media\/8653"}],"wp:attachment":[{"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/media?parent=8650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/categories?post=8650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conceptualfinearts.com\/cfa\/wp-json\/wp\/v2\/tags?post=8650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}