29.08.2024

Market insights

Under the hammer: from record-breaking fossils to design masterpieces

From the spectacular skeleton of a dinosaur to the first watercolor made for the Harry potter cover, passing through still life masterpoeces and icons of international design, here are some of the most desired lots of this summer auctions.

Expanding far beyond the ancient, this summer collecting reaches all the way back to prehistory. The spectacular (and complete!) skeleton of a dinosaur, discovered by a paleontologist in Colorado in 2022, took New York by storm, raising the bar for prehistoric artifacts reaching record heights: $44.6 million was the amount fetched by Apex (as the herbivorous stegosaurus skeleton has been nicknamed) during a Sotheby’s auction held in July in the Big Apple. The absolute star of the sale, the fossil is the most valuable ever sold at auction, and its buyer is the prominent American collector Ken Griffin, founder of Citadel, a leading name in the hedge fund world. It is speculated that Griffin may be inclined to loan the find to a prestigious American museum, the details of which are not yet known.
 
Also at Sotheby's in New York, the most interesting records set at auction this summer mix art and the literary sphere: $1.92 million is the record amount achieved on June 26 by the watercolor that Thomas Taylor drew in 1997 for the cover of the first edition of Harry Potter and the Philosopher's Stone (the estimate was $400,000-$600,000!). The work thus becomes the most expensive lot ever sold in the sector related to bestselling novels: the anonymous buyer secured a unique illustration not only for its rarity but because its author, Thomas Taylor, then just 27 years old, forever defined the visage of the round-glasses-wearing wizard beloved by fans worldwide, making him absolutely iconic.
 
Figurative art is therefore one of the most sought-after categories at auction this summer, and painting remains a bestseller, with interesting artists to rediscover: on June 12, at Christie's in Paris, Le melon entamé, an 18th-century still life painted by the French artist Jean Siméon Chardin, far exceeded expectations, reaching a price of €26.7 million. And to think that the initial estimate for this highly contested canvas was €8-12 million! A record not only for Chardin but also in the realm of 18th-century paintings: in this category, Le melon entamé becomes the most expensive work ever sold on a global scale.
 
Painting also shone in the most followed summer auctions in Italy, rediscovering names like Kurt Seligmann, a Swiss surrealist artist: on July 4 at Wannenes in Milan, his painting titled Game of Chance No.2 (1949) was sold for over €575,000 (from an estimate of €40,000-€60,000), marking the highlight of the modern and contemporary art auction organized by the auction house. A remarkable aspect of the event is that this painting is part of a collection of works by Seligmann and his wife Arlette that was dispersed in 1933 after a Christie's auction in New York. Surprisingly, the painting reappeared in Wannenes' auction alongside two other works from that collection, which also multiplied their initial estimates.
 
As usual, the most followed summer auction season in Italy maintains a special focus on vintage design and the world of decorative arts, this time with an important female affirmation on the international market, as reflected in the recent results at Il Ponte in Milan: leading the auction Arti Decorative del '900 e Design (July 3, 4, and 5) was the top lot The Annunciation (1896) by British painter, illustrator, and decorator Margaret Macdonald Mackintosh. The wife of Scottish architect, designer, and painter Charles Rennie Mackintosh, Margaret embodied in her work the unmistakable "Glasgow style," a British reinterpretation of Art Nouveau that further cements the success of this movement in Europe: for the work, a bidding war brought the final price to €176,400. Also on the podium were rare and valuable pieces designed by women, such as the Salice lamp by Gabriella Crespi and the Moon series vases by Japanese artist Ritsue Mishima. Among the most interesting results of the sale were also the three-legged table by Osvaldo Borsani and Lucio Fontana (€75,600) and the Testa di Centauro by Egidio Costantini (a record for the artist) made in the Murano-based Fucina degli Angeli (€41,580). As always, the vintage lamps section was highly followed by collectors: among the highlights were the monumental 14-arm chandelier by Vittorio Zecchin (€25,200) and the 12385 Vela suspension lamp by Angelo Lelli (€12,600), though Max Ingrand triumphed with his 16-arm Dhalia chandelier (€32,760).