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Subject: Cecily Brown's Rise to Market Prominence
From: Artelligence <artelligence@substack.com>
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View this post on the web at https://artelligence.substack.com/p/cecily-bro=
wns-rise-to-market-prominence
Welcome to the Artelligence newsletter
This is the new home for news and analysis of the global art market from Ar=
t Market Monitor and LiveArt. Combined with our Artelligence podcast [ http=
s://substack.com/redirect/d594a545-d72c-4767-a984-893ade0814e5?j=3DeyJ1Ijoi=
MjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ], it offers a uniq=
ue perspective on the global art market.
The newsletter comes out every Friday with What We Learned this Week. Depen=
ding on the art market calendar or news cycle, you will receive other email=
s from this account on an irregular basis.
We are eager to hear from you. If you have questions, tips or suggestions f=
or coverage, contact us here [ mailto:maneker@artmarketmonitor.com ]. Feel =
free to forward the email to anyone you think would like to subscribe.
In This Issue
Lot Watch: Cecily Brown, Untitled (The Beautiful and Damned) at Christie=E2=
=80=99s
Artelligence Podcast: Hugo Nathan on Cecily Brown
What=E2=80=99s Right About Cecily Brown=E2=80=99s Market: How the artist=E2=
=80=99s market developed over 20 years=20
Lot Watch
Cecily Brown, Untitled (The Beautiful and Damned)=20
Christie=E2=80=99s announced on Instagram that it would be offering Cecily =
Brown=E2=80=99s Untitled (The Beautiful and Damned) from 2013 with a $5 mil=
lion estimate in its May 15th 21st Century Evening sale [ https://substack.=
com/redirect/60187286-a6e3-4d3c-a80a-7c0cbef21b5f?j=3DeyJ1IjoiMjdjZXI5In0.n=
CNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ].=20
Artelligence Podcast
Cecily Brown: Hugo Nathan on the Artist and Her Market
Cecily Brown has been a prominent painter for more than a quarter century. =
But starting in the last 5 years, her importance in the art market has grow=
n substantially. With the opening of Death and the Maid at New York=E2=80=
=99s Metropolitan Museum, it seemed like a good time to discuss her market.=
The Met show is one of only a handful of museum shows that Brown has parti=
cipated in including Boston=E2=80=99s MFA in 2006 and the Louisiana Museum =
in 2018.
To get a better sense of how collectors view and value her work, we spoke t=
o Hugo Nathan, one of the principles of art advisory Beaumont Nathan [ http=
s://substack.com/redirect/8ba95b46-e37f-4b98-a34f-b0b080893e60?j=3DeyJ1Ijoi=
MjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]. As an art dealer=
and collector himself, Hugo has worked on a broad range of art from the Re=
naissance to Contemporary. His firm have advised a number of clients on the=
market for Cecily Brown=E2=80=99s work.=20
What=E2=80=99s Right About Cecily Brown=E2=80=99s Market
Cecily Brown, Suddenly Last Summer (1999)
Twenty three years ago, Roberta Smith balked at Cecily Brown=E2=80=99s risi=
ng media profile and declared after seeing the artist=E2=80=99s show at Gag=
osian that the painter=E2=80=99s [ https://substack.com/redirect/c8b0b0c7-e=
256-47ad-bd40-adab50a69a50?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iR=
nigHXx6Fx_g6pp7gWdY ] =E2=80=9Ccareer is ahead of her artistic development=
=E2=80=9D and that =E2=80=9Cshe comes across as a diligent, ambitious young=
painter who has a lot to learn.=E2=80=9D Smith was dismissive of Brown=E2=
=80=99s fixation on sexual themes and imagery. More damning, Brown was plac=
ed in the same category as second-generation followers of Willem de Kooning=
and Joan Mitchell. The kill shot was: =E2=80=9Cnaughty bits notwithstandin=
g, the majority of these paintings are uninteresting from any distance and =
ultimately vacuous.=E2=80=9D
Tough words make memorable critics. But Smith seems to have lost her nerve =
in the face of Brown=E2=80=99s rise in stature over the last two decades. I=
n last week=E2=80=99s review of the Met=E2=80=99s new [ https://substack.c=
om/redirect/a6da9383-c667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nC=
NhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]Cecily Brown: [ https://substack=
=2Ecom/redirect/a6da9383-c667-4dfd-b35=
d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.=
nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] [ https://substack.com/redir=
ect/a6da9383-c667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d=
0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]Death and the Maid [ https://substack.co=
m/redirect/a6da9383-c667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nCN=
hOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] published in the [ https://subs=
tack.com/redirect/a6da9383-c667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5=
In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]New York Times [ https://s=
ubstack.com/redirect/a6da9383-c667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZ=
XI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ], Smith=E2=80=99s tone =
was self-conscious.=C2=A0
Smith could have cited Brown=E2=80=99s growth as an artist over the last qu=
arter century to explain her change of attitude. After all, the show is com=
posed of many works made decades after her previous review. Instead, she wr=
ote a mea culpa: =E2=80=9CThe work in the Met show is beautiful, and became=
more so on each of my three visits.=E2=80=9D The editors at the New York T=
imes leaned into the review=E2=80=99s abashed self-criticism and gave it th=
e headline: =E2=80=9CI Was Wrong About Cecily Brown.=E2=80=9D
Brown has become a very formidable figure in the art market lately. The Met=
show is an occasion to both recognize that and possibly accelerate her int=
o a new position as a pre-eminent living painter. In three of the five year=
s from 2018 to 2022, more than $30 million of Brown=E2=80=99s work was sold=
at auction. In the last three months nearly half of that total was already=
sold. With at least two important works already announced for the May sale=
s, it looks like a growing wave of market enthusiasm could build Brown into=
a juggernaut.
Understandably, Smith might be worried about having categorized Brown as a =
second gen AbExer. So last week, she put Brown in a new peer group. Now her=
precursors are Francis Bacon, Lucien Freud and Alberto Giacometti.=C2=A0
That=E2=80=99s a serious upgrade but not Brown=E2=80=99s first. An importan=
t survey show at Boston=E2=80=99s MFA in 2006 [ https://substack.com/redire=
ct/f3b093a8-e846-4847-a9b0-cc5f71be9e64?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0=
jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] started people talking less about the se=
nsuality of her subject matter and more about her interest in art history. =
=E2=80=9CBrown rigorously addresses the figure and human flesh,=E2=80=9D th=
e MFA said, =E2=80=9Ccreating unashamedly luscious paintings that range bet=
ween figuration and abstraction.=E2=80=9D More than that, the MFA put its e=
mphasis on her zeal for painting and her respect for art history. The museu=
m still pointed to de Kooning and Mitchell, as Smith had done, but now also=
cited her engagement with Goya and Poussin.
Despite her prominence in the 1990s, and great press clippings in the early=
2000s, Brown=E2=80=99s public market didn=E2=80=99t really take shape unti=
l 2007. Before 2006, Brown=E2=80=99s work had only had the briefest exposur=
e in auctions=E2=80=94with no significant six-figure sales to demonstrate s=
trong interest from collectors. But in 2006, the market began to stir as ha=
lf a dozen works sold at prices above $240,000, capping out at one for $960=
,000.=C2=A0
That set the stage for three million-dollar sales in 2007, including the $1=
=2E6 million paid for [ https://substa=
ck.com/redirect/b345297a-b1c6-4b0f-81a=
2-fa8974dd8ea5?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6=
pp7gWdY ]Pyjama Game [ https://substack.com/redirect/b345297a-b1c6-4b0f-81a=
2-fa8974dd8ea5?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6=
pp7gWdY ] that would be Brown=E2=80=99s auction record for a decade. Even t=
hough she was represented by Gagosian Gallery, or perhaps because she was, =
her public secondary market remained limited until 2013. Limited but not fa=
llow=E2=80=94102 paintings were hammered down between Brown=E2=80=99s marke=
t hotting up in 2006 and its trickling down to a few sales in 2014 to 2015.=
=C2=A0
Total auction volume for works by Cecily Brown, 2000-2023
That last year, 2015, also happened to coincide with Brown=E2=80=99s decisi=
on to take more direct control over her own sales. Leaving Gagosian [ https=
://substack.com/redirect/4b94f815-8603-4b55-884d-94003c671836?j=3DeyJ1IjoiM=
jdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ], she hired Andrea =
Crane to act as her agent and manage relations with galleries. A bit like l=
eaving London for New York in the mid-1990s as the YBA=E2=80=99s were risin=
g in prominence, Brown was charting her own path. She partnered first with =
Maccarone in New York and then with Paula Cooper. In London, it was Thomas =
Dane.=C2=A0
What happened next is open to some conjecture. The facts are simple. Beginn=
ing in 2017, Brown=E2=80=99s auction sales started to surpass the previous =
period in both record prices for individual works and annual auction volume=
=2E In March of 2017, a painting broke=20=
the $2 million barrier. Three months l=
ater, it happened again and pushed Brown=E2=80=99s auction record to $2.4 m=
illion. Not surprisingly, Brown=E2=80=99s auction volume hit an all-time hi=
gh of $14 million that year.=C2=A0
Eleven months later, in the showcase New York auctions, those prices were o=
bliterated by the sale of Suddenly Last Summer, a work made in 1999. It sol=
d for $6.7 million. The next month in London, another work sold for a stron=
g confirmation price of $3.9 million. That same year, 2018, there were thre=
e sales above $2 million and another sale in Hong Kong at the end of the ye=
ar for $5.8 million. That work was The Pyjama Game [ https://substack.com/r=
edirect/8b23c2c6-cafa-47d6-846c-537864768592?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM=
3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] from 1997 which had previously set =
Brown=E2=80=99s record auction price in 2007 [ https://substack.com/redirec=
t/8b23c2c6-cafa-47d6-846c-537864768592?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0j=
QmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]. Her auction total had more than doubled =
in the process to $32 million.
It is not uncommon for an artist=E2=80=99s market to kick into overdrive le=
ading up to and coming out of a major museum show, especially when the arti=
st is not fully established. Brown was famous but her work wasn=E2=80=99t n=
ecessarily embraced institutionally. That changed in August of 2018 when De=
nmark=E2=80=99s Louisiana Museum held another big show of her work [ https:=
//substack.com/redirect/e257c183-613a-4a3d-a035-d891459effa5?j=3DeyJ1IjoiMj=
djZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]. The Louisiana, too=
, made much of Brown=E2=80=99s ambition to take on other painters. Guston w=
as added to the pantheon of New York School painters Brown obsessed over an=
d Francis Bacon was cited as a forebear. Perhaps more consequentially, a ma=
ssive 30-foot work became part of the Louisiana=E2=80=99s permanent collect=
ion after the show.=C2=A0
The market now had all that it needed: multiple prices at a substantial new=
level, serious museum shows that could move markets and strong indications=
that Brown=E2=80=99s appeal was going truly global. The market had everyth=
ing except supply.=C2=A0
=E2=80=9CThe Contemporary market is always a battle between supply and dema=
nd.=E2=80=9D
=E2=80=94 Hugo Nathan
Art advisor Hugo Nathan, a principal in Beaumont Nathan [ https://substack.=
com/redirect/8ba95b46-e37f-4b98-a34f-b0b080893e60?j=3DeyJ1IjoiMjdjZXI5In0.n=
CNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] who has placed a number of Bro=
wn=E2=80=99s works with clients, believes there was a significant change in=
supply after 2015. No longer working with a gallery with the largest inter=
national footprint across gallery spaces and art fairs, Brown was able to t=
ake more control over the placement of her work. =E2=80=9CWhen she was work=
ing with Larry Gagosian,=E2=80=9D Nathan said recently on the Artelligence =
podcast [ https://substack.com/redirect/e6053f10-fa9c-4b5b-9630-b3a1783f5a5=
9?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]. =
=E2=80=9CHer output was incredibly voluminous, presumably she was pressured=
to create a huge amount of supply to meet demand.=E2=80=9D=C2=A0
Since 2015, that dynamic has reversed. =E2=80=9CI think you=E2=80=99re now =
in a situation where she=E2=80=99s producing a lot less=E2=80=9D Nathan sai=
d, =E2=80=9Cor at least putting a lot less on the market. So the pent-up de=
mand is greater. And that=E2=80=99s obviously going to impact the demand at=
auction =E2=80=A6 for newer works for people who missed out on them on the=
primary market. The Contemporary market is always a battle between supply =
and demand.=E2=80=9D
Nothing happens fast in the art market=E2=80=94until it does. Even with the=
spike in 2018, it still took a good six years before the dynamic between s=
upply and demand impacted auction numbers.=C2=A0From 2019 to 2020, auction =
totals pulled back by a third and sales were made in the $2-5 million range=
=2E
The sale of two canvases from noted collector Douglas Cramer=E2=80=99s hold=
ings of Brown=E2=80=99s work perked the market back up in late 2021. Along =
with a third work=E2=80=94Carnival and Lent from 2006 that is featured in t=
he Met show=E2=80=94the $6 million price level was now becoming almost comm=
onplace. That made 2021 the highest volume year for Brown=E2=80=99s work at=
auction with $34.8 million in sales. The next year didn=E2=80=99t see new =
premium prices in the $6 million range=E2=80=94there have now been 5 auctio=
n sales above $6 million=E2=80=94but the auction total was a robust $32 mil=
lion.=C2=A0
Market momentum hasn=E2=80=99t meant everything sells. The run-up to the Me=
t show has surely activated buyers and sellers, with the latter sometimes h=
aving high expectations. For example, one work on offer in March had been p=
urchased after sustained bidding in Hong Kong in 2017 for $862,185. In 2022=
, the seller shopped it privately but could not find a buyer. When it appea=
red at auction in March of this year with a $2.5 million estimate, many ins=
iders expected the work to be bought in. Instead, it attracted a few bids a=
nd sold for $4.1 million with fees.=C2=A0
That shouldn=E2=80=99t suggest that everything by Brown that comes to aucti=
on sells. Over the last 11 months, 15 paintings by Brown have been auctione=
d but three failed to find buyers. Failure has been easily overcome in the =
market for Cecily Brown=E2=80=99s work recently where repeat sales are comm=
on and part of the solution to the supply issue that Nathan raised. The auc=
tion records contain more than two dozen works with repeat sales over the l=
ast 20 years, a few have been sold three, four or even five times.=C2=A0
Take the record price for [ https://substack.com/redirect/f53463cc-6107-4d=
80-8df2-739614b0cd61?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx=
6Fx_g6pp7gWdY ]Suddenly Last Summer [ https://substack.com/redirect/f53463c=
c-6107-4d80-8df2-739614b0cd61?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe=
5iRnigHXx6Fx_g6pp7gWdY ]. [ https://substack.com/redirect/f53463cc-6107-4d8=
0-8df2-739614b0cd61?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6=
Fx_g6pp7gWdY ] It was first auctioned in May of 2009 for $662,500. A year l=
ater, it was flipped for a healthy gain as another collector paid just over=
$1 million for it. That was on the tail end of Brown=E2=80=99s first marke=
t run from 2006-2013. Over the next eight years it would rise to almost sev=
en times the value to the $6.7 million in made in 2018.=C2=A0
Some works were offered at auction and failed. Then they found buyers at mu=
ch higher prices a short time later. In 2016, Twenty Million Sweethearts [ =
https://substack.com/redirect/41d5135a-88ef-4ea0-86ea-6013f144c537?j=3DeyJ1=
IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] from 1990 was=
bought in against a $400,000 estimate [ https://substack.com/redirect/41d5=
135a-88ef-4ea0-86ea-6013f144c537?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpis=
rMe5iRnigHXx6Fx_g6pp7gWdY ]. The next year it sold for $670,000 against a $=
300,000 estimate. Three years later it doubled in value to $1.4 million.=C2=
=A0=C2=A0
Skulldiver II [ https://substack.com/redirect/032d263f-ccac-4204-aee7-572b=
d4be5b28?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWd=
Y ]from 2006 was offered at auction five times in 13 years. [ https://subst=
ack.com/redirect/032d263f-ccac-4204-aee7-572bd4be5b28?j=3DeyJ1IjoiMjdjZXI5I=
n0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] It failed against a $600,0=
00 estimate in 2010; sold for $483,750 in 2013; failed again in 2015 agains=
t a lower estimate; made $708,137 in 2018; then it tripled in price to $2.6=
million when it sold in March of this year.=C2=A0
Cecily Brown, Free Games for May (2015) estimated at $3 million
That demonstrates, if nothing else, that collectors are snapping up works t=
hat once languished. Their advisors may now fully understand the supply con=
straints but it's also clear that Brown=E2=80=99s stature continues to grow=
=2E For example, the recent re-opening=20=
of the Courtauld Institute in London f=
eatures Brown=E2=80=99s massive painting [ https://substack.com/redirect/d=
760ac30-6412-49c3-865e-58d2fe753191?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmM=
pisrMe5iRnigHXx6Fx_g6pp7gWdY ]Unmoored from Her Reflection [ https://subst=
ack.com/redirect/d760ac30-6412-49c3-865e-58d2fe753191?j=3DeyJ1IjoiMjdjZXI5I=
n0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]dominating a central stairc=
ase [ https://substack.com/redirect/d760ac30-6412-49c3-865e-58d2fe753191?j=
=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ].=C2=A0
That brings us back to The Met show. Billed as a survey that highlights Bro=
wn=E2=80=99s engagement with old masterly themes like memento mori, still l=
ives and Brown=E2=80=99s take on painters like Bruegel and van Eyck, it can=
also feel more like a gallery show. Surely a commercial gallery would have=
given the many very large works more room to breathe, though, and possibly=
better spaces to contemplate them than the cramped quarters the Met provid=
ed for the exhibition.=C2=A0
That isn=E2=80=99t to say the Met show is anything but a success. Chronical=
ly stumbling in Contemporary art, the Met has cannily ridden the wave of Br=
own=E2=80=99s cresting fame which might help attract the support of well-he=
eled Contemporary collectors the Met needs.=C2=A0
In the meantime, the market effect of seeing so many good works by Brown in=
one place will be measured in May when Mo Ostin=E2=80=99s 2015 painting Fr=
ee Games for May is sold with an attractive $3 million estimate. Christie=
=E2=80=99s also just announced the 9-by-14-foot Untitled (The Beautiful and=
Damned) from 2013 for its May sale with a $5 million estimate.
Unsubscribe https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2V=
uY2Uuc3Vic3RhY2suY29tL2FjdGlvbi9kaXNhYmxlX2VtYWlsP3Rva2VuPWV5SjFjMlZ5WDJsa0=
lqb3hNek15TmpnMk5qRXNJbkJ2YzNSZmFXUWlPakV4TlRRd05qVTJOeXdpYVdGMElqb3hOamd4T=
npVd09UUXdMQ0psZUhBaU9qRTJPRFF6TkRJNU5EQXNJbWx6Y3lJNkluQjFZaTB5TWpVNUlpd2lj=
M1ZpSWpvaVpHbHpZV0pzWlY5bGJXRnBiQ0o5LnBFay10WWxYOElwc0NlRE1wQmtuZDV5b0lmYnc=
0T1pWaWlJUzIzT2RjVjgiLCJwIjoxMTU0MDY1NjcsInMiOjIyNTksImYiOnRydWUsInUiOjEzMz=
I2ODY2MSwiaWF0IjoxNjgxNzUwOTQwLCJleHAiOjE2ODQzNDI5NDAsImlzcyI6InB1Yi0wIiwic=
3ViIjoibGluay1yZWRpcmVjdCJ9.9HoVz1zkCf7W67GinwED6JqOgynGURWj2dCqBoyd7NA?
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g src=3D"https://mailgun.substack.com/api/v1/email/open?token=3DeyJtIjoiPDI=
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on" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tbody>=
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" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tbody><t=
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-ssm tw-text-substack-secondary" style=3D"color: #808080 !important; font-f=
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tw-underline" style=3D"-webkit-text-decoration-line: underline !important; =
color: #808080 !important; text-decoration-line: underline !important;">Ope=
n in app</a> or <a href=3D"https://substack.com/redirect/2/eyJlIjoiaHR0cHM6=
Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY2suY29tL3AvY2VjaWx5LWJyb3ducy1yaXNlLXRvLW1hcmt=
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ry tw-underline" style=3D"-webkit-text-decoration-line: underline !importan=
t; color: #808080 !important; text-decoration-line: underline !important;">=
online</a></span></td></tr></tbody></table></td></tr></tbody></table><table=
role=3D"presentation" width=3D"auto" class=3D"header graphic-header" style=
=3D"border-spacing: 0; padding: 16px 0 32px;"><tbody><tr><td align=3D"cente=
r" style=3D"padding: 0; text-align: center;"><a href=3D"https://substack.co=
m/redirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY2suY29tL3AvY2VjaW=
x5LWJyb3ducy1yaXNlLXRvLW1hcmtldC1wcm9taW5lbmNlP3Rva2VuPWV5SjFjMlZ5WDJsa0lqb=
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DY2MSwiaWF0IjoxNjgxNzUwOTQwLCJleHAiOjE2ODQzNDI5NDAsImlzcyI6InB1Yi0wIiwic3Vi=
IjoibGluay1yZWRpcmVjdCJ9.Xgmc2OzbAhUjM2NzSxrBbbSHatXC3TQcFV8dxMwPD8Q?"><img=
role=3D"presentation" width=3D"550" height=3D"110" src=3D"https://substack=
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https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe3cf=
c2fc-ffba-4eae-8c1a-7c9381cc0cef_1100x220.png" class=3D"header-image" style=
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max-width: 550px; vertical-align: middle; width: 100%;"></a></td></tr></tbo=
dy></table><div dir=3D"auto" class=3D"post typography" style=3D"font-size: =
16px; line-height: 26px; padding: 16px 0 0 0;"><div class=3D"post-header" s=
tyle=3D"font-size: 16px; line-height: 26px;"><h1 class=3D"post-title publis=
hed" style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-font-s=
moothing: subpixel-antialiased; color: #404040; font-family: 'SF Compact Di=
splay', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, A=
rial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';=
font-size: 32px; font-weight: bold; line-height: 36px; margin: 0;"><a href=
=3D"https://substack.com/app-link/post?publication_id=3D2259&post_id=3D1154=
06567&utm_source=3Dpost-email-title&isFreemail=3Dtrue&token=3DeyJ1c2VyX2lkI=
joxMzMyNjg2NjEsInBvc3RfaWQiOjExNTQwNjU2NywiaWF0IjoxNjgxNzUwOTQwLCJleHAiOjE2=
ODQzNDI5NDAsImlzcyI6InB1Yi0yMjU5Iiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.spX2MYTvSV=
4AhxpTv3tAUtEuy80yFwXECv_VgPsTc2s" style=3D"color: #404040; text-decoration=
: none;">Cecily Brown's Rise to Market Prominence</a></h1><h3 class=3D"subt=
itle" style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-font-=
smoothing: subpixel-antialiased; color: #808080; font-family: 'SF Compact D=
isplay', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, =
Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'=
; font-size: 18px; font-weight: normal; line-height: 24px; margin: 4px 0 0;=
margin-top: 12px;">An important show at New York's Metropolitan Museum coi=
ncides with cresting auction growth and key works on offer in May to test m=
arket heights. </h3><table role=3D"presentation" width=3D"100%" border=3D"0=
" cellspacing=3D"0" cellpadding=3D"0" class=3D"post-meta" style=3D"align-it=
ems: center; height: 20px; margin: 1em 0;"><tbody><tr><td><table role=3D"pr=
esentation" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"=
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yle=3D"color: #404040; font-family: 'SF Compact', -apple-system, -apple-sys=
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sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-=
size: 11px; font-weight: 500; letter-spacing: .2px; line-height: 20px; marg=
in: 0; text-decoration: unset; text-transform: uppercase;"><a href=3D"https=
://substack.com/redirect/51e94f43-2a35-4494-a956-53712c813527?j=3DeyJ1IjoiM=
jdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" style=3D"color: #40=
4040; font-family: 'SF Compact', -apple-system, -apple-system, -system-ui, =
BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Appl=
e Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; font-=
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dule__reset--20JLV frontend-pencraft-Text-module__size-11--1-ofT frontend-p=
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ion Maneker</a></div></td></tr></tbody></table></td></tr><tr><td><table rol=
e=3D"presentation" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpaddin=
g=3D"0"><tbody><tr><td style=3D"vertical-align: middle;"><div class=3D"fron=
tend-pencraft-Text-module__reset--20JLV frontend-pencraft-Text-module__size=
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odule__meta--3RRSj" style=3D"color: #808080; font-family: 'SF Compact', -ap=
ple-system, -apple-system, -system-ui, BlinkMacSystemFont, 'Segoe UI', Robo=
to, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'S=
egoe UI Symbol'; font-size: 11px; font-weight: 500; letter-spacing: .2px; l=
ine-height: 20px; margin: 0; text-decoration: unset; text-transform: upperc=
ase;"><time datetime=3D"2023-04-17T17:01:53.620Z">Apr 17</time></div></td><=
/tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><ta=
ble role=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cel=
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h=3D"38" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tbody><tr><td al=
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=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e0; =
border: none; height: 1px; margin: 32px 0; padding: 0;"></div><p style=3D"c=
olor: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><st=
rong>In This Issue</strong></p><ol style=3D"margin-top: 0; padding: 0;"><li=
style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; color:=
#404040; font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; =
padding-left: 4px;"><strong>Lot Watch: </strong><span>Cecily Brown,</span><=
strong> </strong><em>Untitled (The Beautiful and Damned) </em><span>at Chri=
stie’s</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D=
"box-sizing: border-box; color: #404040; font-size: 16px; line-height: 26px=
; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Artelligence Pod=
cast:</strong><span> Hugo Nathan on Cecily Brown</span></p></li><li style=
=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; color: #4040=
40; font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; paddin=
g-left: 4px;"><strong>What’s Right About Cecily Brown’s Market:=
</strong><span>How the artist’s market developed over 20 years </spa=
n></p></li></ol><div style=3D"font-size: 16px; line-height: 26px;"><hr styl=
e=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px 0; paddin=
g: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-osx-font=
-smoothing: subpixel-antialiased; -webkit-font-smoothing: subpixel-antialia=
sed; color: #404040; font-family: 'SF Compact Display', -apple-system, Blin=
kMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Co=
lor Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; font-w=
eight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; position: relati=
ve;">Lot Watch</h2><h4 class=3D"header-with-anchor-widget" style=3D"-moz-os=
x-font-smoothing: subpixel-antialiased; -webkit-font-smoothing: subpixel-an=
tialiased; color: #404040; font-family: 'SF Compact Display', -apple-system=
, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Ap=
ple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.125em; =
font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; position: =
relative;">Cecily Brown, Untitled (The Beautiful and Damned) </h4><div clas=
s=3D"captioned-image-container-static" style=3D"font-size: 16px; line-heigh=
t: 26px; margin: 32px auto;"><figure style=3D"margin: 0 auto; width: 100%;"=
><table class=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=3D"=
0" cellpadding=3D"0" style=3D"mso-padding-alt: 1em 0 1.6em;"><tbody><tr><td=
style=3D"text-align: center;"></td><td align=3D"left" class=3D"content" wi=
dth=3D"1456" style=3D"text-align: center;"><a class=3D"image-link" target=
=3D"_blank" href=3D"https://substack.com/redirect/f363b648-ecf8-4769-8bc6-5=
28cca9b90f0?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7=
gWdY" rel=3D"" style=3D"align-items: center; border: none; display: block; =
flex-direction: column; height: auto; margin: 0; padding: 0; position: rela=
tive; text-decoration: none; width: auto;"><img data-attrs=3D"{"src&qu=
ot;:"https://substack-post-media.s3.amazonaws.com/public/images/68cff1=
a4-a32d-48c1-baea-8955adaed4b5_1804x1148.png","fullscreen":n=
ull,"imageSize":null,"height":927,"width":145=
6,"resizeWidth":null,"bytes":4328909,"alt":&q=
uot;","title":null,"type":"image/png",&q=
uot;href":null,"belowTheFold":true,"internalRedirect&qu=
ot;:null}" alt=3D"" title=3D"" width=3D"550" height=3D"350.1717032967033" c=
lass=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w_2912,c_lim=
it,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-medi=
a.s3.amazonaws.com%2Fpublic%2Fimages%2F68cff1a4-a32d-48c1-baea-8955adaed4b5=
_1804x1148.png" style=3D"-ms-interpolation-mode: bicubic; border: none !imp=
ortant; display: block; height: auto; margin: 0 auto; margin-bottom: 0; max=
-width: 100% !important; vertical-align: middle; width: auto !important;"><=
/a></td><td style=3D"text-align: center;"></td></tr></tbody></table></figur=
e></div><p style=3D"color: #404040; font-size: 16px; line-height: 26px; mar=
gin: 0 0 20px 0;"><span>Christie’s announced on Instagram that it wou=
ld be offering Cecily Brown’s </span><em>Untitled (The Beautiful and =
Damned)</em><span> from 2013 with a $5 million estimate in</span><a href=3D=
"https://substack.com/redirect/60187286-a6e3-4d3c-a80a-7c0cbef21b5f?j=3DeyJ=
1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" styl=
e=3D"color: #404040; text-decoration: underline;"> its May 15th 21st Centur=
y Evening sale</a><span>. </span></p><div style=3D"font-size: 16px; line-he=
ight: 26px;"><hr style=3D"background: #e0e0e0; border: none; height: 1px; m=
argin: 32px 0; padding: 0;"></div><h2 class=3D"header-with-anchor-widget" s=
tyle=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-font-smoothi=
ng: subpixel-antialiased; color: #404040; font-family: 'SF Compact Display'=
, -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, =
sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-=
size: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625e=
m 0; position: relative;">Artelligence Podcast</h2><h4 class=3D"header-with=
-anchor-widget" style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -we=
bkit-font-smoothing: subpixel-antialiased; color: #404040; font-family: 'SF=
Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, H=
elvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe =
UI Symbol'; font-size: 1.125em; font-weight: bold; line-height: 1.16em; mar=
gin: 1em 0 0.625em 0; position: relative;">Cecily Brown: Hugo Nathan on the=
Artist and Her Market</h4><div class=3D"captioned-image-container-static" =
style=3D"font-size: 16px; line-height: 26px; margin: 32px auto;"><figure st=
yle=3D"margin: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=
=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-pad=
ding-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><=
td align=3D"left" class=3D"content" width=3D"605" style=3D"text-align: cent=
er;"><a class=3D"image-link" target=3D"_blank" href=3D"https://substack.com=
/redirect/57a96ee5-35da-4933-a381-749be659abdc?j=3DeyJ1IjoiMjdjZXI5In0.nCNh=
OM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: cen=
ter; border: none; display: block; flex-direction: column; height: auto; ma=
rgin: 0; padding: 0; position: relative; text-decoration: none; width: auto=
;"><img data-attrs=3D"{"src":"https://substack-post-media.s3=
=2Eamazonaws.com/public/images/bf6377a4=
-53e2-4c4e-a96c-efce1d2f06e2_605x604.j=
peg","fullscreen":null,"imageSize":null,"heig=
ht":604,"width":605,"resizeWidth":null,"bytes=
":83487,"alt":null,"title":null,"type":&=
quot;image/jpeg","href":"https://soundcloud.com/artelli=
gence/cecily-brown-hugo-nathan-on-the-artist-and-her-market?si=3Df448d445af=
934959a6658b6d16653a7b&utm_source=3Dclipboard&utm_medium=3Dtext&=
;utm_campaign=3Dsocial_sharing","belowTheFold":true,"in=
ternalRedirect":null}" alt=3D"" width=3D"550" height=3D"549.0909090909=
091" class=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w_1210=
,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-pos=
t-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf6377a4-53e2-4c4e-a96c-efce1d=
2f06e2_605x604.jpeg" style=3D"-ms-interpolation-mode: bicubic; border: none=
!important; display: block; height: auto; margin: 0 auto; margin-bottom: 0=
; max-width: 100% !important; vertical-align: middle; width: auto !importan=
t;"></a></td><td style=3D"text-align: center;"></td></tr></tbody></table></=
figure></div><p style=3D"color: #404040; font-size: 16px; line-height: 26px=
; margin: 0 0 20px 0;"><span>Cecily Brown has been a prominent painter for =
more than a quarter century. But starting in the last 5 years, her importan=
ce in the art market has grown substantially. With the opening of </span><e=
m>Death and the Maid</em><span> at New York’s Metropolitan Museum, it=
seemed like a good time to discuss her market. The Met show is one of only=
a handful of museum shows that Brown has participated in including Boston&=
#8217;s MFA in 2006 and the Louisiana Museum in 2018.</span></p><p style=3D=
"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><=
span>To get a better sense of how collectors view and value her work, we sp=
oke to Hugo Nathan, one of the principles of </span><a href=3D"https://subs=
tack.com/redirect/8ba95b46-e37f-4b98-a34f-b0b080893e60?j=3DeyJ1IjoiMjdjZXI5=
In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #=
404040; text-decoration: underline;">art advisory Beaumont Nathan</a><span>=
=2E As an art dealer and collector hims=
elf, Hugo has worked on a broad range=20=
of art from the Renaissance to Contemporary. His firm have advised a number=
of clients on the market for Cecily Brown’s work. </span></p><p clas=
s=3D"button-wrapper" data-attrs=3D"{"url":"https://soundclou=
d.com/artelligence/cecily-brown-hugo-nathan-on-the-artist-and-her-market?si=
=3Df448d445af934959a6658b6d16653a7b&utm_source=3Dclipboard&utm_medi=
um=3Dtext&utm_campaign=3Dsocial_sharing","text":"Li=
sten Now!","action":null,"class":null}" style=3D"c=
olor: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0; text=
-align: center;"><a class=3D"button primary" href=3D"https://substack.com/r=
edirect/57a96ee5-35da-4933-a381-749be659abdc?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM=
3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"background-color: =
#653366; border: none; border-radius: 4px; box-sizing: border-box; color: #=
ffffff !important; cursor: pointer; display: inline-block; font-family: -ap=
ple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-=
serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size:=
14px; font-weight: 600; height: auto; line-height: 20px; margin: 0; opacit=
y: 1; outline: none; padding: 12px 20px; text-align: center; text-decoratio=
n: none !important; white-space: nowrap;"><span style=3D"color: #ffffff; te=
xt-decoration: none;">Listen Now!</span></a></p><div style=3D"font-size: 16=
px; line-height: 26px;"><hr style=3D"background: #e0e0e0; border: none; hei=
ght: 1px; margin: 32px 0; padding: 0;"></div><h4 class=3D"header-with-ancho=
r-widget" style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-f=
ont-smoothing: subpixel-antialiased; color: #404040; font-family: 'SF Compa=
ct Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helveti=
ca, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Sym=
bol'; font-size: 1.125em; font-weight: bold; line-height: 1.16em; margin: 1=
em 0 0.625em 0; position: relative;">What’s Right About Cecily Brown&=
#8217;s Market</h4><div class=3D"captioned-image-container-static" style=3D=
"font-size: 16px; line-height: 26px; margin: 32px auto;"><figure style=3D"m=
argin: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=3D"100%" =
border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-padding-alt: =
1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td align=
=3D"left" class=3D"content" width=3D"1334" style=3D"text-align: center;"><a=
class=3D"image-link" target=3D"_blank" href=3D"https://substack.com/redire=
ct/334dd91d-8f7f-46d9-b55f-fe24ad097b26?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0=
jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: center; bo=
rder: none; display: block; flex-direction: column; height: auto; margin: 0=
; padding: 0; position: relative; text-decoration: none; width: auto;"><img=
data-attrs=3D"{"src":"https://substack-post-media.s3.amazon=
aws.com/public/images/352c9ded-861d-498b-89b6-827ad5e39a71_1334x1208.jpeg&q=
uot;,"fullscreen":null,"imageSize":null,"height&qu=
ot;:1208,"width":1334,"resizeWidth":null,"bytes&qu=
ot;:522606,"alt":null,"title":null,"type":&qu=
ot;image/jpeg","href":null,"belowTheFold":true,&qu=
ot;internalRedirect":null}" alt=3D"" width=3D"550" height=3D"498.05097=
45127436" class=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w=
_2668,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstac=
k-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F352c9ded-861d-498b-89b6-8=
27ad5e39a71_1334x1208.jpeg" style=3D"-ms-interpolation-mode: bicubic; borde=
r: none !important; display: block; height: auto; margin: 0 auto; margin-bo=
ttom: 0; max-width: 100% !important; vertical-align: middle; width: auto !i=
mportant;"></a></td><td style=3D"text-align: center;"></td></tr></tbody></t=
able></figure></div><h6 style=3D"-moz-osx-font-smoothing: subpixel-antialia=
sed; -webkit-font-smoothing: subpixel-antialiased; color: #404040; font-fam=
ily: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', R=
oboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji',=
'Segoe UI Symbol'; font-weight: bold; line-height: 1.16em; margin: 1em 0 0=
=2E625em 0;">Cecily Brown, Suddenly La=
st Summer (1999)</h6><p style=3D"color:=
#404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><span>Tw=
enty three years ago, Roberta Smith balked at Cecily Brown’s rising m=
edia profile and </span><a href=3D"https://substack.com/redirect/c8b0b0c7-e=
256-47ad-bd40-adab50a69a50?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iR=
nigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: und=
erline;">declared after seeing the artist’s show at Gagosian that the=
painter’s</a><span> “career is ahead of her artistic developme=
nt” and that “she comes across as a diligent, ambitious young p=
ainter who has a lot to learn.” Smith was dismissive of Brown’s=
fixation on sexual themes and imagery. More damning, Brown was placed in t=
he same category as second-generation followers of Willem de Kooning and Jo=
an Mitchell. The kill shot was: “naughty bits notwithstanding, the ma=
jority of these paintings are uninteresting from any distance and ultimatel=
y vacuous.”</span></p><p style=3D"color: #404040; font-size: 16px; li=
ne-height: 26px; margin: 0 0 20px 0;"><span>Tough words make memorable crit=
ics. But Smith seems to have lost her nerve in the face of Brown’s ri=
se in stature over the last two decades. </span><a href=3D"https://substack=
=2Ecom/redirect/a6da9383-c667-4dfd-b35=
d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.=
nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #4040=
40; text-decoration: underline;">In last week’s review of the MetR=
17;s new </a><em><a href=3D"https://substack.com/redirect/a6da9383-c667-4df=
d-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6=
Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;=
">Cecily Brown:</a></em><a href=3D"https://substack.com/redirect/a6da9383-c=
667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iR=
nigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: und=
erline;"> </a><em><a href=3D"https://substack.com/redirect/a6da9383-c667-4d=
fd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx=
6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline=
;">Death and the Maid</a></em><a href=3D"https://substack.com/redirect/a6da=
9383-c667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpis=
rMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoratio=
n: underline;"> published in the </a><em><a href=3D"https://substack.com/re=
direct/a6da9383-c667-4dfd-b35d-3bbc63e851de?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3=
c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; tex=
t-decoration: underline;">New York Times</a></em><span>, Smith’s tone=
was self-conscious. </span></p><p style=3D"color: #404040; font-size:=
16px; line-height: 26px; margin: 0 0 20px 0;"><span>Smith could have cited=
Brown’s growth as an artist over the last quarter century to explain=
her change of attitude. After all, the show is composed of many works made=
decades after her previous review. Instead, she wrote a mea culpa: “=
The work in the Met show is beautiful, and became more so on each of my thr=
ee visits.” The editors at the </span><em>New York Times</em><span> l=
eaned into the review’s abashed self-criticism and gave it the headli=
ne: “I Was Wrong About Cecily Brown.”</span></p><p style=3D"col=
or: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Brown=
has become a very formidable figure in the art market lately. The Met show=
is an occasion to both recognize that and possibly accelerate her into a n=
ew position as a pre-eminent living painter. In three of the five years fro=
m 2018 to 2022, more than $30 million of Brown’s work was sold at auc=
tion. In the last three months nearly half of that total was already sold. =
With at least two important works already announced for the May sales, it l=
ooks like a growing wave of market enthusiasm could build Brown into a jugg=
ernaut.</p><p style=3D"color: #404040; font-size: 16px; line-height: 26px; =
margin: 0 0 20px 0;">Understandably, Smith might be worried about having ca=
tegorized Brown as a second gen AbExer. So last week, she put Brown in a ne=
w peer group. Now her precursors are Francis Bacon, Lucien Freud and Albert=
o Giacometti. </p><p style=3D"color: #404040; font-size: 16px; line-he=
ight: 26px; margin: 0 0 20px 0;"><span>That’s a serious upgrade but n=
ot Brown’s first. An important survey show at </span><a href=3D"https=
://substack.com/redirect/f3b093a8-e846-4847-a9b0-cc5f71be9e64?j=3DeyJ1IjoiM=
jdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"c=
olor: #404040; text-decoration: underline;">Boston’s MFA in 2006</a><=
span> started people talking less about the sensuality of her subject matte=
r and more about her interest in art history. “Brown rigorously addre=
sses the figure and human flesh,” the MFA said, “creating unash=
amedly luscious paintings that range between figuration and abstraction.=
221; More than that, the MFA put its emphasis on her zeal for painting and =
her respect for art history. The museum still pointed to de Kooning and Mit=
chell, as Smith had done, but now also cited her engagement with Goya and P=
oussin.</span></p><p style=3D"color: #404040; font-size: 16px; line-height:=
26px; margin: 0 0 20px 0;">Despite her prominence in the 1990s, and great =
press clippings in the early 2000s, Brown’s public market didn’=
t really take shape until 2007. Before 2006, Brown’s work had only ha=
d the briefest exposure in auctions—with no significant six-figure sa=
les to demonstrate strong interest from collectors. But in 2006, the market=
began to stir as half a dozen works sold at prices above $240,000, capping=
out at one for $960,000. </p><p style=3D"color: #404040; font-size: 1=
6px; line-height: 26px; margin: 0 0 20px 0;"><span>That set the stage for t=
hree million-dollar sales in 2007, </span><a href=3D"https://substack.com/r=
edirect/b345297a-b1c6-4b0f-81a2-fa8974dd8ea5?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM=
3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; te=
xt-decoration: underline;">including the $1.6 million paid for </a><em><a h=
ref=3D"https://substack.com/redirect/b345297a-b1c6-4b0f-81a2-fa8974dd8ea5?j=
=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"=
" style=3D"color: #404040; text-decoration: underline;">Pyjama Game</a></em=
><span> that would be Brown’s auction record for a decade. Even thoug=
h she was represented by Gagosian Gallery, or perhaps because she was, her =
public secondary market remained limited until 2013. Limited but not fallow=
—102 paintings were hammered down between Brown’s market hottin=
g up in 2006 and its trickling down to a few sales in 2014 to 2015. </=
span></p><div class=3D"captioned-image-container-static" style=3D"font-size=
: 16px; line-height: 26px; margin: 32px auto;"><figure style=3D"margin: 0 a=
uto; width: 100%;"><table class=3D"image-wrapper" width=3D"100%" border=3D"=
0" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-padding-alt: 1em 0 1.6e=
m;"><tbody><tr><td style=3D"text-align: center;"></td><td align=3D"left" cl=
ass=3D"content" width=3D"1456" style=3D"text-align: center;"><a class=3D"im=
age-link" target=3D"_blank" href=3D"https://substack.com/redirect/2bc94785-=
d1c9-4eb8-9430-a17f2ecb94a8?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5i=
RnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: center; border: none; =
display: block; flex-direction: column; height: auto; margin: 0; padding: 0=
; position: relative; text-decoration: none; width: auto;"><img data-attrs=
=3D"{"src":"https://substack-post-media.s3.amazonaws.com/pub=
lic/images/1b7ec55b-48c1-4281-910a-a65737457a4b_2716x1990.png","f=
ullscreen":null,"imageSize":null,"height":1067,&qu=
ot;width":1456,"resizeWidth":null,"bytes":187209,&=
quot;alt":null,"title":null,"type":"image/png=
","href":null,"belowTheFold":true,"internalRe=
direct":null}" alt=3D"" width=3D"550" height=3D"403.05631868131866" cl=
ass=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w_2912,c_limi=
t,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media=
=2Es3.amazonaws.com%2Fpublic%2Fimages%2=
F1b7ec55b-48c1-4281-910a-a65737457a4b_=
2716x1990.png" style=3D"-ms-interpolation-mode: bicubic; border: none !impo=
rtant; display: block; height: auto; margin: 0 auto; margin-bottom: 0; max-=
width: 100% !important; vertical-align: middle; width: auto !important;"></=
a></td><td style=3D"text-align: center;"></td></tr></tbody></table></figure=
></div><h6 style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-=
font-smoothing: subpixel-antialiased; color: #404040; font-family: 'SF Comp=
act Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvet=
ica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Sy=
mbol'; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0;">To=
tal auction volume for works by Cecily Brown, 2000-2023</h6><p style=3D"col=
or: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><span=
>That last year, 2015, also happened to coincide with Brown’s decisio=
n to take more direct control over her own sales. </span><a href=3D"https:/=
/substack.com/redirect/4b94f815-8603-4b55-884d-94003c671836?j=3DeyJ1IjoiMjd=
jZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"col=
or: #404040; text-decoration: underline;">Leaving Gagosian</a><span>, she h=
ired Andrea Crane to act as her agent and manage relations with galleries. =
A bit like leaving London for New York in the mid-1990s as the YBA’s =
were rising in prominence, Brown was charting her own path. She partnered f=
irst with Maccarone in New York and then with Paula Cooper. In London, it w=
as Thomas Dane. </span></p><p style=3D"color: #404040; font-size: 16px=
; line-height: 26px; margin: 0 0 20px 0;">What happened next is open to som=
e conjecture. The facts are simple. Beginning in 2017, Brown’s auctio=
n sales started to surpass the previous period in both record prices for in=
dividual works and annual auction volume. In March of 2017, a painting brok=
e the $2 million barrier. Three months later, it happened again and pushed =
Brown’s auction record to $2.4 million. Not surprisingly, Brown’=
;s auction volume hit an all-time high of $14 million that year. </p><=
p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 =
20px 0;"><span>Eleven months later, in the showcase New York auctions, thos=
e prices were obliterated by the sale of </span><em>Suddenly Last Summer,</=
em><span> a work made in 1999. It sold for $6.7 million. The next month in =
London, another work sold for a strong confirmation price of $3.9 million. =
That same year, 2018, there were three sales above $2 million and another s=
ale in Hong Kong at the end of the year for $5.8 million. That work was </s=
pan><em><a href=3D"https://substack.com/redirect/8b23c2c6-cafa-47d6-846c-53=
7864768592?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7g=
WdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;">The Pyj=
ama Game</a></em><a href=3D"https://substack.com/redirect/8b23c2c6-cafa-47d=
6-846c-537864768592?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6=
Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;=
"> from 1997 which had previously set Brown’s record auction price in=
2007</a><span>. Her auction total had more than doubled in the process to =
$32 million.</span></p><p style=3D"color: #404040; font-size: 16px; line-he=
ight: 26px; margin: 0 0 20px 0;"><span>It is not uncommon for an artistR=
17;s market to kick into overdrive leading up to and coming out of a major =
museum show, especially when the artist is not fully established. Brown was=
famous but her work wasn’t necessarily embraced institutionally. Tha=
t changed in August of 2018 when </span><a href=3D"https://substack.com/red=
irect/e257c183-613a-4a3d-a035-d891459effa5?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c=
1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text=
-decoration: underline;">Denmark’s Louisiana Museum held another big =
show of her work</a><span>. The Louisiana, too, made much of Brown’s =
ambition to take on other painters. Guston was added to the pantheon of New=
York School painters Brown obsessed over and Francis Bacon was cited as a =
forebear. Perhaps more consequentially, a massive 30-foot work became part =
of the Louisiana’s permanent collection after the show. </span><=
/p><p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: =
0 0 20px 0;">The market now had all that it needed: multiple prices at a su=
bstantial new level, serious museum shows that could move markets and stron=
g indications that Brown’s appeal was going truly global. The market =
had everything except supply. </p><div class=3D"pullquote" style=3D"bo=
rder-bottom: 1px solid #e0e0e0; border-top: 1px solid #e0e0e0; font-size: 1=
6px; line-height: 26px; margin: 32px auto;"><p style=3D"color: #404040; fon=
t-size: 16px; font-style: italic; font-weight: 500; line-height: 26px; marg=
in: 32px 0; text-align: center;">“The Contemporary market is always a=
battle between supply and demand.”</p><p style=3D"color: #404040; fo=
nt-size: 16px; font-style: italic; font-weight: 500; line-height: 26px; mar=
gin: 32px 0; text-align: center;">— Hugo Nathan</p></div><p style=3D"=
color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><s=
pan>Art advisor Hugo Nathan, </span><a href=3D"https://substack.com/redirec=
t/8ba95b46-e37f-4b98-a34f-b0b080893e60?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0j=
QmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-dec=
oration: underline;">a principal in Beaumont Nathan</a><span> who has place=
d a number of Brown’s works with clients, believes there was a signif=
icant change in supply after 2015. No longer working with a gallery with th=
e largest international footprint across gallery spaces and art fairs, Brow=
n was able to take more control over the placement of her work. “When=
she was working with Larry Gagosian,” </span><a href=3D"https://subs=
tack.com/redirect/e6053f10-fa9c-4b5b-9630-b3a1783f5a59?j=3DeyJ1IjoiMjdjZXI5=
In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #=
404040; text-decoration: underline;">Nathan said recently on the Artelligen=
ce podcast</a><span>. “Her output was incredibly voluminous, presumab=
ly she was pressured to create a huge amount of supply to meet demand.̶=
1; </span></p><p style=3D"color: #404040; font-size: 16px; line-height=
: 26px; margin: 0 0 20px 0;">Since 2015, that dynamic has reversed. “=
I think you’re now in a situation where she’s producing a lot l=
ess” Nathan said, “or at least putting a lot less on the market=
=2E So the pent-up demand is greater. A=
nd that’s obviously going to imp=
act the demand at auction … for newer works for people who missed out=
on them on the primary market. The Contemporary market is always a battle =
between supply and demand.”</p><p style=3D"color: #404040; font-size:=
16px; line-height: 26px; margin: 0 0 20px 0;">Nothing happens fast in the =
art market—until it does. Even with the spike in 2018, it still took =
a good six years before the dynamic between supply and demand impacted auct=
ion numbers. From 2019 to 2020, auction totals pulled back by a third =
and sales were made in the $2-5 million range.</p><p style=3D"color: #40404=
0; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><span>The sale =
of two canvases from noted collector Douglas Cramer’s holdings of Bro=
wn’s work perked the market back up in late 2021. Along with a third =
work—</span><em>Carnival and Lent </em><span>from 2006 that is featur=
ed in the Met show—the $6 million price level was now becoming almost=
commonplace. That made 2021 the highest volume year for Brown’s work=
at auction with $34.8 million in sales. The next year didn’t see new=
premium prices in the $6 million range—there have now been 5 auction=
sales above $6 million—but the auction total was a robust $32 millio=
n. </span></p><div class=3D"captioned-image-container-static" style=3D=
"font-size: 16px; line-height: 26px; margin: 32px auto;"><figure style=3D"m=
argin: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=3D"100%" =
border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-padding-alt: =
1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td align=
=3D"left" class=3D"content" width=3D"1456" style=3D"text-align: center;"><a=
class=3D"image-link" target=3D"_blank" href=3D"https://substack.com/redire=
ct/12f5608b-f0ca-408b-bb2c-a888aea47e17?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0=
jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: center; bo=
rder: none; display: block; flex-direction: column; height: auto; margin: 0=
; padding: 0; position: relative; text-decoration: none; width: auto;"><img=
data-attrs=3D"{"src":"https://substack-post-media.s3.amazon=
aws.com/public/images/b1da8ba3-45ca-42a7-ad74-dab7d7d7a22f_3166x1970.png&qu=
ot;,"fullscreen":null,"imageSize":null,"height&quo=
t;:906,"width":1456,"resizeWidth":null,"bytes"=
;:388924,"alt":null,"title":null,"type":"=
;image/png","href":null,"belowTheFold":true,"=
internalRedirect":null}" alt=3D"" width=3D"550" height=3D"342.23901098=
9011" class=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w_291=
2,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-po=
st-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb1da8ba3-45ca-42a7-ad74-dab7d=
7d7a22f_3166x1970.png" style=3D"-ms-interpolation-mode: bicubic; border: no=
ne !important; display: block; height: auto; margin: 0 auto; margin-bottom:=
0; max-width: 100% !important; vertical-align: middle; width: auto !import=
ant;"></a></td><td style=3D"text-align: center;"></td></tr></tbody></table>=
</figure></div><p style=3D"color: #404040; font-size: 16px; line-height: 26=
px; margin: 0 0 20px 0;">Market momentum hasn’t meant everything sell=
s. The run-up to the Met show has surely activated buyers and sellers, with=
the latter sometimes having high expectations. For example, one work on of=
fer in March had been purchased after sustained bidding in Hong Kong in 201=
7 for $862,185. In 2022, the seller shopped it privately but could not find=
a buyer. When it appeared at auction in March of this year with a $2.5 mil=
lion estimate, many insiders expected the work to be bought in. Instead, it=
attracted a few bids and sold for $4.1 million with fees. </p><p styl=
e=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0=
;">That shouldn’t suggest that everything by Brown that comes to auct=
ion sells. Over the last 11 months, 15 paintings by Brown have been auction=
ed but three failed to find buyers. Failure has been easily overcome in the=
market for Cecily Brown’s work recently where repeat sales are commo=
n and part of the solution to the supply issue that Nathan raised. The auct=
ion records contain more than two dozen works with repeat sales over the la=
st 20 years, a few have been sold three, four or even five times. </p>=
<p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0=
20px 0;"><a href=3D"https://substack.com/redirect/f53463cc-6107-4d80-8df2-=
739614b0cd61?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp=
7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;">Take =
the record price for </a><em><a href=3D"https://substack.com/redirect/f5346=
3cc-6107-4d80-8df2-739614b0cd61?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisr=
Me5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration=
: underline;">Suddenly Last Summer</a></em><a href=3D"https://substack.com/=
redirect/f53463cc-6107-4d80-8df2-739614b0cd61?j=3DeyJ1IjoiMjdjZXI5In0.nCNhO=
M3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; t=
ext-decoration: underline;">.</a><span> It was first auctioned in May of 20=
09 for $662,500. A year later, it was flipped for a healthy gain as another=
collector paid just over $1 million for it. That was on the tail end of Br=
own’s first market run from 2006-2013. Over the next eight years it w=
ould rise to almost seven times the value to the $6.7 million in made in 20=
18. </span></p><p style=3D"color: #404040; font-size: 16px; line-heigh=
t: 26px; margin: 0 0 20px 0;"><span>Some works were offered at auction and =
failed. Then they found buyers at much higher prices a short time later. In=
2016, </span><em><a href=3D"https://substack.com/redirect/41d5135a-88ef-4e=
a0-86ea-6013f144c537?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx=
6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline=
;">Twenty Million Sweethearts</a></em><a href=3D"https://substack.com/redir=
ect/41d5135a-88ef-4ea0-86ea-6013f144c537?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d=
0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-d=
ecoration: underline;"> from 1990 was bought in against a $400,000 estimate=
</a><span>. The next year it sold for $670,000 against a $300,000 estimate.=
Three years later it doubled in value to $1.4 million. </span><=
/p><p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: =
0 0 20px 0;"><em><a href=3D"https://substack.com/redirect/032d263f-ccac-420=
4-aee7-572bd4be5b28?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6=
Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;=
">Skulldiver II </a></em><a href=3D"https://substack.com/redirect/032d263f-=
ccac-4204-aee7-572bd4be5b28?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5i=
RnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: un=
derline;">from 2006 was offered at auction five times in 13 years.</a><span=
> It failed against a $600,000 estimate in 2010; sold for $483,750 in 2013;=
failed again in 2015 against a lower estimate; made $708,137 in 2018; then=
it tripled in price to $2.6 million when it sold in March of this year.&nb=
sp;</span></p><div class=3D"captioned-image-container-static" style=3D"font=
-size: 16px; line-height: 26px; margin: 32px auto;"><figure style=3D"margin=
: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=3D"100%" borde=
r=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-padding-alt: 1em 0=
1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td align=3D"lef=
t" class=3D"content" width=3D"1456" style=3D"text-align: center;"><a class=
=3D"image-link" target=3D"_blank" href=3D"https://substack.com/redirect/cd6=
25291-6dd3-413b-8db4-83e3486cbc20?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpi=
srMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: center; border: =
none; display: block; flex-direction: column; height: auto; margin: 0; padd=
ing: 0; position: relative; text-decoration: none; width: auto;"><img data-=
attrs=3D"{"src":"https://substack-post-media.s3.amazonaws.co=
m/public/images/fc7b4981-a296-415c-825c-70684645edf2_2700x2776.jpeg",&=
quot;fullscreen":null,"imageSize":null,"height":14=
97,"width":1456,"resizeWidth":null,"bytes":13=
99965,"alt":null,"title":null,"type":"im=
age/jpeg","href":null,"belowTheFold":true,"in=
ternalRedirect":null}" alt=3D"" width=3D"550" height=3D"565.4876373626=
373" class=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w_2912=
,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-pos=
t-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffc7b4981-a296-415c-825c-706846=
45edf2_2700x2776.jpeg" style=3D"-ms-interpolation-mode: bicubic; border: no=
ne !important; display: block; height: auto; margin: 0 auto; margin-bottom:=
0; max-width: 100% !important; vertical-align: middle; width: auto !import=
ant;"></a></td><td style=3D"text-align: center;"></td></tr></tbody></table>=
</figure></div><h6 style=3D"-moz-osx-font-smoothing: subpixel-antialiased; =
-webkit-font-smoothing: subpixel-antialiased; color: #404040; font-family: =
'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto=
, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Seg=
oe UI Symbol'; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625e=
m 0;">Cecily Brown, Free Games for May (2015) estimated at $3 million</h6><=
p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 =
20px 0;"><span>That demonstrates, if nothing else, that collectors are snap=
ping up works that once languished. Their advisors may now fully understand=
the supply constraints but it's also clear that Brown’s stature cont=
inues to grow. For example, the recent re-opening of the Courtauld Institut=
e in London features Brown’s</span><a href=3D"https://substack.com/re=
direct/d760ac30-6412-49c3-865e-58d2fe753191?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3=
c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; tex=
t-decoration: underline;"> massive painting </a><em><a href=3D"https://subs=
tack.com/redirect/d760ac30-6412-49c3-865e-58d2fe753191?j=3DeyJ1IjoiMjdjZXI5=
In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #=
404040; text-decoration: underline;">Unmoored from Her Reflection </a></em>=
<a href=3D"https://substack.com/redirect/d760ac30-6412-49c3-865e-58d2fe7531=
91?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=
=3D"" style=3D"color: #404040; text-decoration: underline;">dominating a ce=
ntral staircase</a><span>. </span></p><p style=3D"color: #404040; font=
-size: 16px; line-height: 26px; margin: 0 0 20px 0;">That brings us back to=
The Met show. Billed as a survey that highlights Brown’s engagement =
with old masterly themes like memento mori, still lives and Brown’s t=
ake on painters like Bruegel and van Eyck, it can also feel more like a gal=
lery show. Surely a commercial gallery would have given the many very large=
works more room to breathe, though, and possibly better spaces to contempl=
ate them than the cramped quarters the Met provided for the exhibition.&nbs=
p;</p><p style=3D"color: #404040; font-size: 16px; line-height: 26px; margi=
n: 0 0 20px 0;">That isn’t to say the Met show is anything but a succ=
ess. Chronically stumbling in Contemporary art, the Met has cannily ridden =
the wave of Brown’s cresting fame which might help attract the suppor=
t of well-heeled Contemporary collectors the Met needs. </p><p style=
=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;=
margin-bottom: 0;"><span>In the meantime, the market effect of seeing so m=
any good works by Brown in one place will be measured in May when Mo Ostin&=
#8217;s 2015 painting </span><em>Free Games for May</em><span> is sold with=
an attractive $3 million estimate. Christie’s also just announced th=
e 9-by-14-foot </span><em>Untitled (The Beautiful and Damned)</em><span> fr=
om 2013 for its May sale with a $5 million estimate.</span></p></div></div>=
<div class=3D"postscript-placeholder" style=3D"box-sizing: border-box; font=
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