On November 9, 2023, a work by Tamara Lempicka will be auctioned at Christie’s New York evening auction. The upper estimate for the iconic work depicting the artist’s daughter is $10 million.
Tamara Lempicka’s art is very popular both in Poland and around the world. In 2020, Portrait of Marjorie Ferry reached a record amount of $19 million at Christie’s auction and is still among the most expensive works painted by a woman. In the rankings, the artist is mentioned alongside Frida Kahlo, Georgia O’Keeffe and Joan Mitchell.
The work, dated 1928-1930, shows one of the portraits of the daughter of the “queen of art deco”. In a memoir written a few years after Tamara’s death, Marie-Christine (nicknamed Kizette) described her relationship with her mother as turbulent. The artist, absorbed in her work, put her career and creative practice first, and many people around her had no idea that she had children. To spend more time with her mother, Kizette patiently posed for portraits, which today are some of Lempicka’s most recognizable works.
“She had her own life and I had mine,” her daughter recalled. “I thought everyone lived like that. Every time she sold a painting and made some money, we went on trips, often to Italy”.
The work Kizette in Pink comes from the collection of the late collector Jerry Moss. In addition to Lempicka’s painting, Christie’s evening auction will feature works by Frida Kahlo, Pablo Picasso, Egon Schiele, Francis Bacon, Mark Rothko, Andy Warhol, Claude Monet and many others.
Why invest in art?
• Art is transformative. Not only does it change the way we think and feel, it can also bring big financial rewards.
• With a $1.7 trillion global marketplace, art is a profitable investment that consistently outperforms other asset classes.
• Art has several intrinsic advantages, including low maintenance costs, portability, low volatility, hedging possibilities and the ability to increase in value. Furthermore, the unique interplay between art’s cultural and financial value results in high investment returns that remain stable, and can even be fueled by wider financial turmoil or turbulence.
• Value Preservation: Art’s lack of liquidity works in favor of assets with value stability and low correlation with the stock market. In 2021, Contemporary art turned a profit of 6.7%, outperforming other art sectors. (Citi Private Bank)
• Value Appreciation: In times of uncertainty, art serves as a value-preserving real asset with prices rooted in scarcity and societal value. (Art Market Insights)
• Stability: Art stands out with low correlation to traditional assets, reducing risk levels and volatility.
• Profitable Diversification: Art consistently outperforms other asset classes, offering impressive short- and long-term returns.
For further & future assistance in art acquisitions and art collection management questions please do not hesitate to reach out to me directly. I would be pleased to assist you.