Vogel states
To read the full article, click HERE.Everyone is betting on the market’s continued strength, realizing that collectors with money to spend are feeling more secure parking their cash in art than in volatile financial markets. Even so, buyers, no matter how rich, are price conscious and want to think they’re getting a bargain. The idea this season is to keep estimates low enough to encourage bidding.
“When you have something great, then the challenge is to convince the consigner to put an estimate that is 10 to 15 percent below the retail price,” said Tobias Meyer, who runs Sotheby’s contemporary-art department worldwide. “It’s all about playing the game of low estimates, and getting people who trust us to play too.”
The estimated price for “Nu au Plateau,” for example, is $70 million to $90 million, though many are banking on it making considerably more.
“Nu au Plateau” has been publicly exhibited only once since 1951. The year it was painted, 1932, is considered a magical time in Picasso’s career because he started creating a series of large-scale, luscious canvases of Marie-Thérèse that were unlike anything he had done before, bigger and more sensual.
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