CANVASES, CARATS AND CURIOSITIES

Key Highlights from the Fall 2024 Auctions

The Power of Surrealism

Christie’s 20th/21st Century sale on November 19th was led by a standout triumph: René Magritte’s L'Empire des lumières, which joined the exclusive $100 million club. Selling for $121.2 million, this masterpiece cemented Magritte’s place among the art world’s most revered names and underscored the renewed enthusiasm for Surrealist art.

An artist and thinker, Magritte consistently drew inspiration from the literature and great works he read. For his illuminated night series, he was particularly influenced by poet André Breton’s line, “If only the sun would shine tonight.” A triumph of dichotomy, L'Empire des lumières epitomizes Magritte’s mature Surrealist vision, juxtaposing the familiar with the fantastical. Its collision of night and day transforms a quiet streetscape into a dreamlike tableau.

Reflecting on Magritte’s recent record-breaking sale, gallery owner Paolo Vedovi told The New York Times, “It seems that every big collector now wants a Magritte. He’s so contemporary. Maybe you get away from this world and bad thinking. You don’t want something that is tough. He is poetic.” This sentiment profoundly resonates in today’s art market, where collectors increasingly seek the imaginative escape that Magritte uniquely provides.

At M.S. Rau, we share this deep appreciation and are thrilled to present Le carnaval du sage, a striking 1947 oil on canvas by Magritte. Created in the years following WWII, this work continues his exploration of dualities—what is visible and what remains hidden. This theme is central to Magritte’s oeuvre, exemplified in works such as Le fils de l’homme, where a man’s face is obscured by an apple, and Les amants (Metropolitan Museum of Art), where lovers’ faces are concealed by cloth. In Le carnaval du sage, Magritte contrasts the nudity of the central figure with the mystery of her masked face, simultaneously revealing and concealing her identity.

A celebration of the poetic and a challenge to the ordinary, Magritte’s work continues to captivate collectors, establishing him as one of the most significant artists of his era.

Impressionist Mainstays

Among the highlights of Sotheby’s recent auction was Claude Monet’s Water Lilies, which incited a dramatic 17-minute bidding war, ultimately selling for $65.5 million. This piece was part of a remarkable collection of 25 lots from Sydell Miller, a trailblazer in the beauty industry. The fierce competition for this work was no surprise; Monet remains one of the most significant and sought-after artists in the market, with his Water Lilies series among the most iconic and universally recognized masterpieces in the art world. The winning bid came from a buyer represented by Sotheby’s Asia, securing a treasured piece of Monet’s legacy.

Another standout from the evening was Edgar Degas’s bronze sculpture, Grande arabesque, troisième temps, the very first lot of the sale. This remarkable piece shattered expectations, selling for $1.68 million—far exceeding its $600,000 high estimate. Degas’s extraordinary talent for capturing the grace and movement of his figures shines in works like this, cementing his reputation as a master of Impressionist sculpture.

We were delighted to see this sale because we are fortunate to have another exceptional Degas bronze, Dancer Fastening the String of Her Tights. Like Grande arabesque, this work exemplifies Degas’s unmatched ability to depict the natural movements and intimate moments of ballet dancers. In this particular work, the dancer twists in a dramatic contrapposto pose, pulling backward as she examines her tights, capturing a fleeting yet deeply human moment of preparation.

Comedian: Redefining Art or an Elaborate Punchline?

Modern art has long challenged traditional definitions of artistic merit, sparking questions such as, What qualifies as art? and Who decides its value? With its recent headline-making sale at Sotheby’s New York, Maurizio Cattelan’s Comedian once again invites reflection on the nature of art and its place in today’s society.

At its core, Comedian is deceptively simple: a banana duct-taped to a wall. Yet its impact has been anything but demure. First unveiled in 2019 at Art Basel Miami, the piece became an instant viral sensation, with three editions selling for between $120,000 and $150,000. This year, the work entered a new echelon of notoriety, fetching $6.2 million—four times its estimated value—when purchased by Chinese cryptocurrency entrepreneur Justin Sun, founder of the Tron blockchain network.

So what does this sale mean? For some, the staggering price underscores the absurdity of the art market and its reliance on social capital. In a world where buzz and exclusivity often define value, Comedian critiques the very system that has elevated it to fame. Others see the work as a biting commentary on wealth disparity, pointing to the surreal juxtaposition of a perishable grocery item commanding a multimillion-dollar price tag.

Perhaps most intriguing is the performative nature of the piece. In 2019, after the initial sale, Cattelan himself removed the banana from the wall and ate it. Sun has already indicated plans to do the same, positioning himself not only as a collector but as a participant in the ongoing performative aspect of the piece. As Sun explained to Reuters, "Comedian represents a cultural phenomenon that bridges the worlds of art, memes and the cryptocurrency community. I believe this piece will inspire more thought and discussion in the future and will become a part of history."

Indeed, Comedian is now firmly entrenched in the annals of art history—though it is unlikely to grace the halls of institutions like the Louvre or the Met anytime soon. Its significance lies not in its medium or its longevity but in its ability to provoke conversation. It forces us to question the essence of art itself: Is it the physical object, the idea it embodies, or the reaction it elicits?

Maurizio Cattelan’s Comedian may not be beautiful in the traditional sense, but it is undeniably impactful. In its absurdity, it holds up a mirror to the art world, reflecting its triumphs and contradictions in equal measure. Whether we laugh, scoff or marvel, one thing is certain: Comedian has cemented its place in the art zeitgeist.

Furniture Takes Center Stage

In an unexpected turn, one of the most intense bidding wars of the Sotheby’s recent sales wasn’t for a painting or sculpture but a remarkable piece of furniture. François-Xavier Lalanne’s Herd of Elephants in the Trees table (2001), crafted from gold-patinated bronze and glass, was hammer down at $10 million, far exceeding its $4–$6 million estimate. The applause that erupted as the hammer fell was a testament to the enduring appeal and significance of the decorative arts in the auction world.

Lalanne, one of the most prolific Surrealist sculptors of the 20th and 21st centuries, drew inspiration from the avant-garde Surrealists he encountered as a young artist in early 20th-century Paris. Herd of Elephants in the Trees exemplifies this vision, depicting a jubilant parade of elephants in varying sizes, their gilded trunks raised in celebration beneath a canopy of acacia trees. The extraordinary table, with its intricate gilt-bronze elephants and sleek glass top, echoes the grandeur of Renaissance and Baroque furniture while reimagining it for the modern era.

Our extraordinary collection of antique gilt furniture celebrates this enduring tradition of furniture as art. The turn of the century, in particular, marked the golden age of international exhibitions, where artisans from around the globe showcased their finest creations to a captivated audience. Among these masterpieces is this exceptional silver-gilt tea table by Maison Aucoc, exhibited at two prestigious international fairs in 1904 and 1905. A true testament to the artistry and craftsmanship of its time, it embodies the intersection of design, innovation and timeless beauty.

What now?