The Fine Art Fund Group attended the Sotheby’s Contemporary Art Evening Auction on 30 June 2014
With some excellent works available, the sale was sure to be a success. Lot 15, Francis Bacon’s The Studies for Portrait of George Dyer (on light ground) stole the evening’s limelight surpassing its high estimate of £20,000,000 with a final sales total £26,682,500. The piece accounted for nearly 1/3 of the evening’s collective £93,147,500.
A beautiful Peter Doig was the second highest total generated on the night (attaining £8,482,500), closely followed yet another Bacon (attaining £4,450,500).
For The Fine Art Fund Group’s Head of Art Advisory, Federica Bonacasa, it was the sale of Adrian Ghenie’s, The Fake Rothko, which stood as the lot of the evening. With estimates of £250,000 to £350,000, the sale of this work was a new record for the artist, achieving £1,426,500. To view more works by Ghenie, visit the Pace Gallery, London where his art currently on show.
The Group were sadly out-bid on a Gilbert & George dated 1977.
The Fine Art Fund Group (The Group) is the market leading art investment and art advisory house. The Group offers bespoke financial vehicles and accounts, independent art consultancy, and acts as a third party expert to major banks around the world. The Fine Art Fund Group has assets under contract in excess of $250mn and investors in 23 countries.* The Group caters for institutional and private clients seeking to purchase or dispose of blue-chip artworks.
The Fine Art Fund Group: Key Information
Established: London, 2001
Global Market Leaders: The largest and first art advisory house of its kind worldwide, with expertise and representation in Europe, Asia and the Americas.
The Team: A Team of 40 art and financial professionals holding a combined total of approximately 300 years’ of art experience and over 150 years’ of financial expertise.
Chief Executive: Philip Hoffman
Managing Director: Guy Jennings
Director of Art Investment: Morgan Long
The Fund Board: Lord Grey Gowrie, Charles Dupplin, Bruno Schroder, Edward Schneider