Invitation to Consign: Old Master & British Pictures

Christie's July Evening Sale of Old Master & British Paintings in London realized £49,766,050  selling 67% by lot and 83% by value. The evening’s top price was paid for Gimcrack on Newmarket Heath, with a Trainer, a Stable-Lad, and a Jockey by George Stubbs (1724-1806) which sold for £22,441,250, becoming the 3rd most valuable Old Master painting ever sold at auction. A masterpiece of both British art and sporting painting, it portrays Gimcrack, one of the most popular and admired of all 18th century racehorses. It was last sold at auction in 1951 when it realized £12,600.

Richard Knight, International co-Head, and Paul Raison, Head of Old Masters and 19th Century Art at Christie’s London stated: “A noticeable demand from private clients led to solid results and the 3rd highest total for an auction in this category at Christie’s in London. We saw a particularly high level of interest and bidding from new clients, including a significant number from Asia. A noticeable change in the market for Old Masters is that we are welcoming collectors who buy across a range of categories, driven by quality, and these collectors are adding a new energy to certain sectors of this field. We are pleased that Stubbs’ masterpiece has become the most valuable Old Master painting sold at Christie’s. Stubbs now joins Rubens, Rembrandt, Turner and Pontormo as the only Old Master artists whose paintings have sold for more than £20 million at auction.”

In total, 6 works of art sold for £1 million (12 over $1 million). Buyers were 33% UK, 36% rest of Europe, 24% Americas and 7% Asia and Middle East.

Portrait of Miss Read, later Mrs William Villebois by Thomas Gainsborough (1727-1788) sold for £6,537,250 – a world record price for the artist at auction. This painting led a group of 3 British portraits offered from Cowdray Park which realized a combined total of £8,739,750.

A male nude, seen from behind (recto); Studies of male nudes (verso) by Michelangelo Buonarroti (1475-1564) sold for £3,177,250. Drawn at a pivotal point of the artist’s career, this preparatory study is one of only 24 sheets related to his seminal, prestigious and lost commission of The Battle of Cascina.

Dutch frigates exchanging salutes in a calm, with yachts, a rowing boat, a sloop carrying personnel, and fishermen on the shore by Simon Jacobsz. de Vlieger (1600/1-1653) sold for £1,553,250 – a world record price for the artist at auction.

The market for Old Master & British Pictures is experiencing considerable growth, with record prices witnessed in all recent sales. If you are interested in consigning works for our December auction, please do not hesitate to contact us. 

Consignment Deadline: 6 September 2011.

Watch Video: Richard Knight, Christie's Joint International Head of Old Master & British Pictures shares some of the exceptional results from the July Evening Sale.