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CoBrA on the crest of a wave [06/15/2002]
The price of paintings by artists belonging to the Cobra
movement has risen by 50% in the last six months in what
clearly amounts to a significant revaluation of their
work.
The appreciable dip in unsold lots from 35.2% to 31.1%
in January-May underlines the current enthusiasm for these
artists. Price-rises of this order are often accompanied
by new top prices.
By way of illustration, the price of the group's leader
Asger JORN 's has just shot up. His painting
In the beginning was the Image passed the USD1 million
dollar mark with a hammer price of over twice the low
estimate. This recent top price of USD1.9 million in New
York on 14 May at Christie's came soon after another exceptional
price paid at auction for a work by a Cobra artist: a
large-scale Karel APPEL canvas which sold for USD680,000.
Both pieces were outstanding and came from the Lars Ulrich
collection.
These events are likely to have implications for the already
rising prices of other members of the group. Art lovers
will be able to view top quality works at Sotheby's in
London on 26 June and at Christie's the next day. Christie's
will have three large format paintings by Asger JORN on auction. Public auction houses in Scandinavia
such as Stockholm's Auktionsverk or Bruun Rasmussen are
packed with less expensive works. Investors with smaller
budgets might consider some of the many lithographs that
come up for sale throughout the year.
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Price index for
the CoBrA group paintings'
base 100 in june 1997 |
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