Sotheby’s to auction “The Scream,” estimate US$80-M

BID

Today, Sotheby’s (NYSE:BID) announced that it would be selling Edvard Munch’s Y 1895 masterpiece, The Scream, as part of its Impressionist & Modern Art Evening Sale in New York on 2 May.

Sotheby’s said in a statement, “The iconic work is one of the most instantly recognizable images in both art history and popular culture, perhaps 2nd only to the Mona Lisa. The present version of The Scream, which dates from Y 1895, is 1 of 4 versions of the composition and the only version still in private hands.”

Simon Shaw, Sotheby’s senior VP, said, “Instantly recognizable, this is one of very few images which transcends art history and reaches a global consciousness. The Scream arguably embodies even greater power today than when it was conceived. At a time of great critical interest in the artist, and with the 150th anniversary of his birth in Y 2013, this spring is a particularly compelling time for The Scream to appear on the market.

For collectors and institutions, the opportunity to acquire such a singularly-influential masterpiece is unprecedented in recent times.” He added, “Given how rarely true icons come to the market it is difficult to predict The Scream’s value. The recent success of masterpieces at Sotheby’s suggests that the price could exceed US$80-M.”

The work will go on display in New York for the first time ever on 27 April ahead of the sale. The piece, which is one of two pastel versions (the other two are painted; the Guardian says this one is the “most vibrant”) is being sold by Norwegian businessman Peter Olsen, whose father Thomas was a friend, neighbor and patron of Munch. Olsen said, “I feel the moment has come to offer the rest of the World a chance to own and appreciate this remarkable work, which is the only version of The Scream not in the collection of a Norwegian museum. My father Thomas Olsen was a friend of Munch, and acquired The Scream as well as many other works by the artist. He hoped that his collection would further Munch’s international renown by lending to exhibitions abroad. In that tradition, proceeds from this sale will go toward the establishment of a new museum, art center and hotel on my farm Ramme Garde at Hvitsten, Norway. It will open next year in connection with the Munch 150th anniversary, and will be dedicated to the artist’s work and time there. We are restoring his house and studio, and guests can stay in his home.”

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
www.livetradingnews.com

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Posted by Shayne Heffernan on Feb 22nd, 2012and filed underArt & Collectibles, Connoisseur's Club, Latest News, Paul Ebeling.You can follow any responses to this entry through theRSS 2.0Responses are currently closed, but you can trackback from your own site.