Selections from the Allan Stone Collection Realizes $52.5 Million at Christie’s New York

. November 14, 2007 – New York – This evening, a packed and busy room saw Selections from the Allan Stone Collection, a group of Post-War and Contemporary Art; tribal and folk art; and Art Deco works of art, realizing $52,423,400, selling 94% by value and setting 12 new world auction records. Following last week’s highly successful sales which totaled $472 million and witnessed the second highest fine art auction result ever at $395 million for the Impressionist and Modern Art Evening Sale, the sale of the Stone Collection showed the strength of the art market and the commitment of connoisseurship and capital from around the world. Vibrant and energetic, the sale was a bold prelude to tomorrow’s Post-War and Contemporary Art Evening Sale. New records were set for artists including Wayne Thiebaud and John Chamberlain, Antoni Gaudí and Carlo Bugatti and for an American folk art piece attributed to Thomas V. Brooks.

“This evening, we enjoyed fantastic participation from around the world, including our first evening sale lot sold through Christie’s LIVE™,” said Christopher Burge, Honorary Chairman and the evening’s auctioneer. “It was Christie’s honor to celebrate Allan Stone’s passion and visionary connoisseurship with such a successful sale.”

The Allan Stone Gallery gave Wayne Thiebaud his first one-man show in 1962. The success of that show led to the artist’s first single-artist museum exhibition, just a few months later, at the M. H. de Young Museum in San Francisco. Thiebaud highlights in the sale were the record-setting Seven Suckers, 1970 ($4,521,000); Tie Rack, 1969 ($3,401,000) and Blue Hill, 1967 ($1,721,000).

One of the important changes in Willem de Kooning’s art occurred in 1963, when the artist left New York for a studio on the light-filled eastern end of Long Island. From this period, Man combines two of the strains of his art until that time: the bravura landscapes of the late 1950s and the celebrated Women of a decade before. The painting fetched $4,521,000 this evening at Christie’s. Other works by de Kooning included Untitled, 1942 ($5,305,000) and Study for Marshes, 1945-46 ($4,297,000).

Chamberlain took the known visible world and transformed it into something new and unique, and did so with glistening chrome and a full spectrum of brilliant coloration. The sale offered several quintessential works by Chamberlain, including Hatband, 1960, which realized $2,841,000 and set a new world auction record for the artist.

Other highlights in this evening’s sale included Franz Kline’s Untitled, 1951 ($2,729,000); Alfred Leslie’s Nix on Nixon ($385,000); and John Graham’s Woman with Dodecahedron, 1959 ($1,609,000).

In the 20th Century Decorative Art and Design category, the sale offered a two-part folding screen by Antoni Gaudí, created for Casa Milà, one of Barcelona’s most striking modernismo buildings. The screen realized $1,385,000, setting a new world auction record for the Catalan master. Carlo Bugatti, the pre-eminent Italian designer from the early years of the twentieth century, was present with a metal-inlaid stained wood and painted parchment double-sided partner’s desk, circa 1900, which realized $1,553,000, twelve times greater than the previous record for the artist.

The formalized and puritanical lines of American Folk Art bore a perennial fascination for Allan Stone and tonight’s sale included some memorable pieces such as a Swift Meat Packing Company trade sign, circa 1900 in the form of a larger-than-life cast zinc bullock ($493,000); a carved and painted tobacconist attributed to Thomas V. Brooks fetched $217,000, setting yet another record.

Highlights in the tribal art field were an Urhobo male figure, which fetched $361,000 and a rare Bamileke beaded head from Cameroon which sold for $121,000.

Christie’s looks forward to tomorrow’s Evening Sale of Post-War and Contemporary Art.

About Christie’s
Christie’s is the world’s leading art business with global auction sales in 2006 that totalled £2.51 billion / $4.67 billion. Worldwide sales for the first half of 2007 totalled £1.63 billion / $3.25 billion, an increase of 32% by £ and 45% by $ from the same period last year and highest half year sales ever in art market history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service, and international glamour. Founded in 1766 by James Christie, Christie’s conducted the greatest auctions of the 18th, 19th and 20th centuries, and today remains a popular showcase for the unique and the beautiful. Christie’s offers over 600 sales annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $80 million. Christie’s has 85 offices in 43 countries and 14 salerooms around the world including London, New York, Los Angeles, Paris, Geneva, Milan, Amsterdam, Tel Aviv, Dubai and Hong Kong. Most recently, Christie’s has led the market with expanded initiatives in emerging markets such as China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Dubai, Mumbai and Russia. Christie’s also offers its clients worldwide access to its sales through Christie’s LIVEâ„¢, its unique, real-time online bidding service.

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