Some of
the biggest sellers in the upcoming fall auctions in New York are museums.
Sotheby's said Thursday that its Nov. 5 sale of Impressionist and modern art
will include a trio of works by Claude Monet, Pablo Picasso and Pierre-Auguste
Renoir that all come from major art institutions.
The
Cleveland Museum of Art is asking at least $5 million for Monet's 1881
landscape, "Cornfield," which depicts wildflowers and spindly trees
against a wispy, blue sky. This work was originally bought by an American
collector shortly after it was painted, and it was first exhibited in New York
in 1886. The Ohio museum received it as a gift in 1947.
Washington's
Hirshhorn Museum and Sculpture Garden is also selling off Picasso's 1967
portrait, "Musketeer With a Hat," with an asking price of at least $3
million. The museum's namesake founder, Joseph Hirshhorn, bought the artwork in
1970, and it's belonged to the museum since 1981. Picasso's late-era series of
musketeers enjoyed a price run-up a few years ago—Christie's got $14.6 million
for another 1968 Picasso musketeer three years ago—but this work could offer a
fresh test. Dealers say the market has been awash with swashbucklers by Picasso
lately, which may explain why the Hirshhorn's 32-inch-tall version carries a
much-lower asking price than recent examples at auction.
Sotheby's
specialist Simon Shaw says the artist—and his musketeer series—"still feel
safe" to buy compared to other lesser-known artists.
The
Virginia Museum of Art is also joining in the sell-off, offering up its Renoir
still life from 1883-84, "Vase of Roses and Dahlias," for at least
$400,000. The museum received the painting as a gift in 1994.
The
museums say they're selling the works now to raise cash to buy different
pieces.
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