ISRAEL CONTEMPORARY ART AUCTION
May 24, 2011 will mark Bonhams’ first standalone auction of modern and contemporary Israeli art and Judaica. To be held in the New Bond Street saleroom in the UK, the auction will certainly be abuzz with collectors and buyers witnessing and participating in this event.
Following a two year slump, 2010 saw Israeli art come back full throttle: increased demand, prices going up and auction record highs set.
The Jerusalem Post wrote:
In 2007, the Israeli art market was estimated to have reached an all-time high of $36 million (nominal prices). The market experienced a painful correction after this prosperous year as annual sales had dropped about forty percent in 2008 and 2009 in wake of the global financial crisis. The results for 2010 signify a recovery; annual turnover grossed $ 27 million, a 42% growth, and all price segments are climbing back towards their 2007 levels.
And it seems Bonhams is keen on focussing efforts to push Israeli art above and beyond in the coming years. According to Giles Peppiatt, Head of Israeli Art at Bonhams,
The market for modern and contemporary Israeli and Judaica art has shown exceptional growth and strength in recent years. The sale will provide an impressive showcase of works of the highest quality. Interest from both private collectors and museums internationally ensures that this event will be an exciting new venture for Bonhams.
Partnering with the Israeli-based auction house, Montefiore, works sourced for the auction include:
- Marcel Janco (189 1984), Marina, 1930, oil on canvas, estimate £100,000-150,000.
- Israel Hershberg B. 1948, Jerusalem, City Centre, 1989-90, oil on canvas, Provenance: Marlborogh Gallery, London, £100,000-150,000
- Ludwig Blum, (Israeli, 1891-1975), Jerusalem, signed and dated ‘L. Blum 1948’; signed in Hebrew, oil on canvas, £8,000-12,000
- Alexandre Markelbach, Lighting the Sabbah Lamp, oil on panel, signed, £1,500-2,000
On the heels of newly launched art-centric website Omanoot.com and Matsart’s Israeli auction this Spring, Bonham’s May auction in London reaffirms that 2011 could become quite the emphatic high for Israeli art and its fans.
- Israeli art scene online with Omanoot.com launch – resource alert – February 2011 – an overview on Edoe Cohen’s new Israeli art hub online
- Which Asian contemporary artists made Artprice auction revenue top 500? – December 2010 – along with Israel, see which other West Asian regions made it to the list
- Important ArtInsight conference on Middle Eastern art market in London – event alert -October 2010 – leading speakers discuss key issues and topics in the West Asian contemporary art scene
- Leading non-profit institutions gathered by Tate Modern for art event: Art Radar Asia lists Asian participants – July 2010 – an overview of the leading artist-run spaces in Asia
- Middle East art scene today is like London in nineties – Judith Greer – international art collector – April 2009 – read what Judith Greer has learned about the parallels between the artistic energies between London and West Asia