At the meeting on April 24, the State purchased oil paintings by Ramón de Zubiaurre and Jacqueline Marval and a manuscript by Luis de Góngora for 46,740 euros.
Each auction is different and anything can happen. In the previews of the appointment (see), I usually write and comment from the logic of the market, and in the case of Durán he spoke clearly about the international Filipino market Felix Resurreccion Hidalgo. Your expected Allegory of Justice of the United States (O/L, 37.5 x 40.5 cm; https://twitter.com/Invertirenarte/status/1783197954112696798), which was offered for just 15,000 euros, was an invitation to the Asian market, as was demonstrated by the successive bids, which rose until the final bid was 32,500 euros. No surprise, logic prevailed again. And it will continue to be imposed on successive occasions.
But state purchases are already big words. And its prediction and decipherment are more complicated. In fact, it seemed more logical to me that, after the purchase in May 2009 of the Portrait of the silversmith Antonio Martínez of Francisco Bayeu for 90,000 euros in Ansorena (see), could repeat on this occasion with the portrait of his hand Don Manuel de Velasco y Coello, perpetual ruler of the Town of Madrid1793/4 (O/L, 70 x 54.5 cm; https://twitter.com/Invertirenarte/status/1783200050887221539), which was offered for 30,000 euros. Because of the position of perpetual councilor, in addition to the quality, of course. But it was not like that. The portrait was awarded to a collector who had previously left his bid in writing for the 30,000 euros asking price, and the State bought other works.
The first of the afternoon was a good oil painting of Ramon de Zubiaurretitled Incas (O/L, 130 x 150 cm; https://twitter.com/Invertirenarte/status/1783195763377402271), painted by the artist in 1930 in Peru. Purchased directly from the artist by the ancestors of the current owners, it rose from the requested 5,000 euros to a still scarce one, given the quality, 5,500 euros, offered by a collector on the phone. Awarded, at this moment the State exercised its right of first refusal and took possession of the piece, I suppose thinking of the Museum of America, although it could also go to the Fine Arts of Bilbao or the Reina, of course.
The same thing happened with the next batch. It was a late French table Jacqueline Marval (1866-1932): Biarritz beach (O/T, 46 x 38.5 cm; https://twitter.com/Invertirenarte/status/1783429139589898470), painted in 1923 on site, in Biarritz. Marval – pseudonym of Marie Josephine Vallet -, short for Mar-ie and Val-let, was a relatively well-known French painter, friend of Matisse and marquetin the first years of the century, and Kees van Dongen during the second decade (see). Its best sale in recent years was La bise d’automne (O/L, 124.4 x 112.2 cm), for which 94,500 GBP (109,649 euros; see) were paid at Christie’s London in June 2022. Its sale for 6,000 euros, very far, was surpassed by different collectors until it was awarded for 7,500 euros, which the State assumed exercising its right, I suppose thinking of the Reina Sofía Museum…
The third purchase was the most logical and expected. The room offered a handwritten codex with works by Luis de Góngora for 25,000 euros, which the State had declared unexportable (https://twitter.com/Invertirenarte/status/1783203154391359716). For Professor Carreira, the leading researcher and writer of Góngora’s work, this manuscript “is the richest codex in attributions.” And although there were no interested collectors who offered the requested figure, the State exercised its right and took possession of the manuscript, I suppose thinking this time of the National Library… We will see (and try to inform) where each one ends up.
Since we are in the 17th century, let’s mention the oil painting with Archangel Uriel (O/L, 204 x 140 cm; 503), from the Madrid School – and which, according to Pérez Sánchez, should be linked to the archangels painted by Bartolome Roman preserved in the monasteries of La Encarnación and Descalzas in Madrid -, which was awarded for the 12,000 euros requested.
Already in the 20th century, a collector offered – in writing prior to the room – the 12,000 euros that were requested for The boardwalk, c. 1919 (O/L, 47 x 48 cm; 408) from the Asturian Evaristo Valle, and at that price it was awarded. The same did not happen with the careful, colorful and worked paper of Manuel Hernández Mompó, No title1985 (mixed media on paper, 100 x 70 cm; https://twitter.com/Invertirenarte/status/1783194335493677222), which was offered for a mere 5,000 euros. Cover of the catalogue, it was not strange that it rose to no less than the final 12,000 euros, at which time it was awarded to a collector on the phone.
The surprise for the uninitiated, so to speak, came with Alina Shaposhnikova (also sometimes written as Szapocznikow), whose thermo-fused plastic plate, screwed to a wooden board, Ventre1968 (52 x 51cm; 225), went to bidding for just 120 euros… And, as was predictable, for its collectors, it shot up to the final 14,000 euros, quite a bargain if we take into account its usual auctions: Piasa Paris, last June, he sold Ventre coussin, c. 1968 (resin, 30 x 31 x 17 cm) for 49,400 euros (see), slightly below the 51,089 euros at the auction of one very similar to the one offered Belly, c. 1968 (thermocast plastic, 50 x 50 x 20 cm) in September 2018 at Desa Unicum, Warsaw (see).
Finally, in graphic work, we must mention the rise – also expected – from the initial 3,500 euros to the final 13,000 euros of the 1922 version in black and white and of only 22 copies – different from the color version of 200 – of the etching and aquatint The saltimbanques 1905 (1/22, 71 x 51 cm; lot 1), after Pablo Picasso, recorded by Jacques Villon in Paris and published by the Parisian gallery Bernheim-Jeune. Durán’s surprises. Daniel Diaz @Invertinart
