🔥 Lots to Watch - 19 June 2024

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Table of Contents

• 1) Mark Tansey

• 2) Ad Reinhardt

• 3) Blinky Palermo

• 4) Mary Heilmann

• 5) Anna Park

1) Mark Tansey

• 📍 Bio: American, 1949

• 📊 Price Range: $2,000,000 - $3,000,000

• 💰 Record Price: $11,824,500 for Triumph Over Mastery II, sold at Sotheby's New York in 2023.

• 🌎 Main Market: U.S

• 📋 Data Insights

💭 My 2 Cents: Mark Tansey's "Study for Shades of Mont Sainte Victoire" is set to hit the auction block soon, and it's definitely worth a closer look. Tansey's work, known for its meticulous pieces, has had a market that's been quite unpredictable lately. I love Tansey’s blend of surrealism and historical references – it’s like stepping into a dream. But, let’s talk numbers. In 2013, a similar piece fetched $125,000, but it didn’t sell in 2017 despite having the same estimate range of $100,000 - $150,000. Now, the upcoming auction has a much lower estimate of around $51,000-$77,000. This conservative approach by Sotheby’s might be due to past market volatility, but it could also present a prime opportunity to snag a significant work at a good price. Tansey’s market shows some interesting trends. His paintings average a realized price of $1,982,870, far outperforming his works on paper, which average around $100,982. This highlights the strong demand and higher value for his paintings compared to other mediums. However, the sell-through rate has dipped slightly from 70% in 2023 to 67% in 2024, suggesting a slight decrease in market confidence. If the stars align, "Study for Shades of Mont Sainte Victoire" might just be the hidden gem you’re looking for.

2) Ad Reinhardt

• 📍 Bio: American, 1913 - 1967

• 📊 Price Range: $600,000 - $900,000

• 💰 Record Price: $3,569,000 for Abstract Painting, sold at Sotheby's New York in 2023.

• 🌎 Main Market: U.S

• 📋 Data Insights

💭 My 2 Cents: Ad Reinhardt is one of the most pivotal figures in abstract art. His work, “Yellow and Pink” (1946), is set to go on auction at Sotheby’s London, and there are a few things that stand out to me about this piece. First, the conservative estimate ($100,000 - $150,000) seems low considering similar works from the same period have fetched significantly higher prices. This might be due to the painting’s smaller size and minor condition issues, but don’t let that fool you. The historical significance and the fact it was exhibited at the Betty Parsons Gallery in 1946 add immense value. Reinhardt’s exploration of color and form in this era was groundbreaking, as evidenced by the vibrant interplay of hues and geometric shapes in this piece. Secondly, Reinhardt's market has shown strong performance with a 77.57% sell-through rate and impressive hammer ratios (2.48 in 2022, 1.92 in 2023). However, it’s worth noting that prices have been somewhat volatile, with the average realized price peaking at $2,034,950 in 2023 and dropping to $1,140,366 in 2024. This indicates a need for careful consideration, but also suggests potential for a savvy collector to capitalize on a conservatively priced piece. All in all, “Yellow and Pink” represents a unique opportunity. Its exhibition history and the artist’s pivotal role in abstract art make it a valuable addition to any collection. However, the recent market volatility requires cautious optimism. This piece could very well exceed its estimate, especially if bidding is competitive. Keep an eye on this one – it could be a sleeper hit at the auction.

3) Blinky Palermo

• 📍 Bio: German, 1943 - 1977

• 📊 Price Range: $380,000 - $540,000

• 💰 Record Price: $6,309,300 for Ohne Titel, sold at Sotheby's New York in 2023.

• 🌎 Main Market: U.S

• 📋 Data Insights

💭 My 2 Cents: If you're eyeing Blinky Palermo's "Ohne Titel, Executed in 1969" up for auction at Sotheby's, here's what you need to know. Palermo, a German artist who dabbled in abstraction and minimalism, created works that are rare and highly coveted, especially his "Stoffbilder" series. This piece is a prime example, featuring a red line on undyed linen, merging the realms of painting and sculpture. It's got a solid provenance and has been featured in major exhibitions. The estimate is $513,616 - $770,424, which feels conservative given recent sales trends for his 1969 works. These have fetched much higher prices, sometimes soaring over $1 million. However, the market for Palermo's works is known for its volatility. Year-over-year growth rates have been all over the place, with a massive increase of 5327.14% in 2022 followed by a 58.56% drop in 2023. If you're a conservative collector, this might be a red flag. But if you're in for the long game and can handle the ride, Palermo's unique approach and the mystique surrounding his early death add a layer of allure and potential for high returns.

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4) Mary Heilmann

• 📍 Bio: American, 1940

• 📊 Price Range: $40,000 - $120,000

• 💰 Record Price: $945,000 for The Passenger, sold at Christie's New York in 2022.

• 🌎 Main Market: U.S

• 📋 Data Insights

💭 My 2 Cents: Mary Heilmann’s market has been all over the place lately. While her average prices peaked at $150,000 in 2021, they've dipped since then. Yet, her works still hold a strong 87.5% sell-through rate. So, should you consider her "Little Rosebud"? Heilmann's playful yet methodical style makes her paintings distinctive. This lot with its red dots resembling blooming flowers, is a fine example. The estimate for this piece is $38,290 to $51,054, which is conservative compared to similar works from 1983, averaging around $364,001. The smaller size might be a factor, but its provenance from the Goldenberg collection adds value. While there's volatility, the 40% YOY growth suggests a resilient market. Paintings like this one often exceed estimates. If you’re into works that blend spontaneity with minimalism and have a backstory, "Little Rosebud" might be worth a bid. But keep in mind the market’s ups and downs—timing is key. Would I go for it? Depends on the day and the mood of the market. But Heilmann’s pieces do have a unique charm that's hard to resist for long.

5) Anna Park

• 📍 Bio: South Korean (Active in USA), 1996

• 📊 Price Range: $60,000 - $90,000

• 💰 Record Price: $484,307 for Is it Worth It?, sold at Christie's Hong Kong in 2022.

• 🌎 Main Market: Hong Kong

• 📋 Data Insights

💭 My 2 Cents: Anna Park's "She Never Calls" is hitting the auction block, and it's one you might want to keep an eye on—or not. Known for her wild, high-energy charcoal drawings, Park captures the chaos of modern life with a distinctive touch. Her work has graced collections at major museums like the High Museum of Art and the Museum of Fine Arts, Houston, solidifying her reputation. Here’s the lowdown: Park’s market has faced choppy waters recently. Auction estimates have risen, but actual selling prices have sunk. For example, her works averaged $201,919 in 2022 but fell to $45,226 in 2024. Ouch. "She Never Calls," a pencil and charcoal piece from 2019, is estimated at $57,944 - $108,646 USD. It's a decent range, aligning with the average of her similar works. Size-wise, it's pretty big, which has fetched higher prices for her in the past. The catch? Recent trends show a significant drop in realized prices. If you're considering this piece, it’s a gamble. It might sell at the higher end due to its size and execution, but the current market sentiment is a bit shaky. Bottom line: If you're a fan of Park’s work and have a penchant for high-energy contemporary pieces, this could be a great addition. Just be aware of the recent market fluctuations before you bid.