Beurett & Bailly - Modern and Contemporary Art Auction Analysis

June 22, 2015

A relatively subpar auction took place at Beurett & Bailly auction house in Basel, Switzerland. Roughly, a two-thirds of auctioned lots were sold at Modern and Contemporary Art auction, with 8 lots that had six-figure prices. The total of money gathered was just under the sum of high estimates of sold lots, but considerably bellow the estimated value of the whole auction. Cuno Amiet's Akt from 1913 had the highest hammer price of the auction, but if we consider only contemporary artworks, Turi Simeti's Un ovale bianco and Antoni Tàpies' Cossos are tied at the first place for the highest hammer price.

The Story About the Artist: Turi Simeti (born 1929)

Turi Simeti is an Italian artist who played an active role in the Zero art movement of 1960s and 1970s, along with artists like Lucio Fontana, Enrico Castellani, Piero Manzoni and Agostino Bonalumi. Minimalist in conception, for the last 50 years Simeti’s work has comprised of dynamic patterns of ovals that dance across the monochromatic surfaces of shaped canvases. This focused combination of color and shape reflects Simeti’s concern for emphasizing the physical presence of the artwork itself, rather than an expression of the artist’s voice. Just as Fontana helped found Spazialismo with his punctured canvases, for decades Simeti has broken through key tenants of minimalism to explore the play of light on shapes created on monochromatic and tactile canvas surfaces. Simeti’s works exist not as single entities but as an active experience of color and shape, and ultimately a capturing of the dynamism that exists between these two aesthetic elements. Turi Simeti lives and works in Milan, Italy.

The Overview of Modern and Contemporary Art Auction at Beurett & Bailly

Total of 219 lots were sold on June 20th at Beurett & Bailly auction house (out of 337), or 65 percent. They were sold for a total of $3,84 million, which was close to the sum of high estimates of sold lots ($3.89 million), but the estimated value of all lots was way higher ($4,387,780 - $6,060,428). Seventy nine lots were sold over high estimate (36.1 percent), the majority of lots, or 125 were sold in range of estimated values (57.1 percent), and just 15 were sold under low estimate (6.8 percent). The average hammer price was $17,523, and mentioned Cuno Amiet's Akt had the highest hammer price of $287,900.

Speaking of overperforming lots, Hans Olde's Nördliche Küstenlandschaft had +466.7 percent difference between hammer price and high estimate, and was the most successful lot of the auction in that department. It was followed by Barthélemy Menn's Genève de la Belotte (+300 percent), Christian Megert's Spiegelobjekt (+283.3) and Osamu Nakajima's Ohne Titel (+271.4).

Beurett & Bailly, Basel
Antoni Tàpies - Cossos, 1997 (Lot 324). Estimated at $143,950 - $191,933, sold for low estimate.

Beurett & Bailly, Basel
Hans Hartung - T1973-R25, 1973 (Lot 265). Estimated at $28,790 - $38,387, sold for $42,225.

Beurett & Bailly, Basel
Angel Duarte - E A.I., 1976 (Lot 307). Estimated at $4,798 - $6,718, sold for $16,314 (+142.9 percent).

Beurett & Bailly, Basel
Chu Teh-Chun - Composition N° 208, 1964 (Lot 243). Estimated at $57,580 - $76,773, sold for low estimate.

Beurett & Bailly, Basel
Osamu Nakajima - Ohne Titel (Lot 328). Estimated at $2,399 - $3,359, sold for $12,476, or with +271.4 percent difference.

Beurett & Bailly, Basel
Oliver Mosset - Monochrome rose, 1979 (Lot 301). Estimated at $4,798 - $6,718, sold for $14,395 (+114.3 percent).

Beurett & Bailly, Basel
Günther Uecker - Garten, 1986 (Lot 318). Estimated at $57,580 - $76,773, sold for $105,563.

Beurett & Bailly, Basel
Turi Simeti - Un ovale bianco, 1968 (Lot 304). Estimated at $57,580 - $76,773, sold for $143,950 (third highest hammer price).

Beurett & Bailly, Basel
Cuno Amiet - Akt. 1913 (Lot 121). Estimated at $287,900 - $383,866, sold for low estimate. This lot had the highest hammer price of the auction.

Beurett & Bailly - Modern and Contemporary Art Auction in Details

Please, take a look at these two tables bellow, and find out detailed information on every single lot that has been auctioned at Modern and Contemporary Art auction at Beurett & Bailly auction house on June 20.

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All images courtesy of Beurett & Bailly.

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