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Welcome back to Wall Power, I’m Marion Manaker. Greetings from the shores of the Long Island Sound, where I’m enjoying Labor Day weekend on the water.
Market activity restarts next week as we finally exit the summer doldrums. In the meantime, today’s issue focuses on the upcoming auction of dealer Eberhard Kornfeld’s collection. A Swiss auctioneer, art dealer, and scholar, Kornfeld was friends with artists as diverse as Alberto Giacometti and Sam Francis, and he wrote definitive works on artists like Ernst Kirchner. The Kornfeld estate is being auctioned by—no surprise here—the Swiss house Kornfeld. I’ll get into the details of the sale below.
But first…
- More on the Ultra-Contemporary crash (or lack thereof): Last week, Christie’s C.E.O. Guillaume Cerutti put together some numbers in response to the New York Times story about four artists whose markets had frozen after a sharp rise in post-pandemic trading. (I wrote a rebuttal to the Times story on Sunday). The Times indirectly blamed the auction houses for...
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| The Kornfeld Stimulus Plan |
| I wouldn’t say that the immediate future of the art market depends entirely on the forthcoming sale of the late auctioneer’s extraordinary personal collection—Munch, Monet, Mondrian, Klee, Seurat, Degas, Kirchner, Giacometti, etcetera—but it should be a harbinger. |
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| For nearly 75 years, Eberhard Kornfeld, the determined auctioneer and thoughtful scholar, was the gravitational center of the European art trade. He died last year, just shy of his 100th birthday. Kornfeld made his mark early, taking over the leadership of an auction house in 1951, before he turned 30, that would eventually be called Galerie Kornfeld. In 12 days, that auction house will sell his... |
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