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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.