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Degenerate Art
Details
ADRIAN GHENIE (B. 1977)
Degenerate Art
signed and dated 'Ghenie 2018' (on the reverse)
oil on canvas
180 x 200 cm. (70 7/8 x 78 3/4 in.)
Painted in 2018
Degenerate Art
signed and dated 'Ghenie 2018' (on the reverse)
oil on canvas
180 x 200 cm. (70 7/8 x 78 3/4 in.)
Painted in 2018
Provenance
The Artist
Private Collection, Europe
Private Collection, Europe
Special Notice
On occasion, Christie's has a direct financial interest in the outcome of the sale of certain lots consigned for sale. This will usually be where it has guaranteed to the Seller that whatever the outcome of the auction, the Seller will receive a minimum sale price for the work. This is known as a minimum price guarantee. This is such a lot.
Where Christie’s has provided a Minimum Price Guarantee it is at risk of making a loss, which can be significant, if the lot fails to sell. Christie’s therefore sometimes chooses to share that risk with a third party who agrees prior to the auction to place an irrevocable written bid on the lot. If there are no other higher bids, the third party commits to buy the lot at the level of their irrevocable written bid. In doing so, the third party takes on all or part of the risk of the lot not being sold. Christie's compensates the third party in exchange for accepting this risk provided that the third party is not the successful bidder. The remuneration to the third party may either be based on a fixed fee or an amount calculated against the final hammer price. The third party may also bid for the lot above the irrevocable written bid. Where the third party is the successful bidder, the third party is required to pay the hammer price and the buyer's premium in full.
Third party guarantors are required by us to disclose to anyone they are advising their financial interest in any lots they are guaranteeing. However, for the avoidance of any doubt, if you are advised by or bidding through an agent on a lot identified as being subject to a third party guarantee you should always ask your agent to confirm whether or not he or she has a financial interest in relation to the lot.
Brought to you by
Jacky Ho (何善衡)
Senior Vice President, Deputy Head of Department