Cézannes auctioned from Baden museum for 44.8 million dollars
Published: Friday, Nov 10th 2023, 06:00
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Three Cézanne paintings from the collection of the Langmatt Museum in Baden AG were auctioned off in New York on Friday night for a total of 44.8 million dollars. The museum's long-term future is thus secured, as the museum's foundation announced.
The proceeds amounted to the equivalent of 40.32 million francs, as the foundation wrote in a press release early on Friday morning. The target had been proceeds of 40 million francs. The precision landing is a good result in view of the tense market environment, the statement continued.
The painting "Fruits et pot de gingembre" (Fruits and pot of ginger) was the first to go under the hammer at Christie's auction house in New York. It was auctioned for 33.5 million dollars. The auction of the most valuable of the three Cézanne paintings started at 20 million dollars. Bids immediately skyrocketed, as could be seen on the live stream of the auction. From the price of 33 million dollars onwards, two representatives discussed in more detail with the potential buyers on their cell phones.
In the range of the estimated value
The value of the painting "Fruits et pot de gingembre" had previously been estimated at between 35 and 55 million dollars. The heirs of a former co-owner of the most valuable painting are also to receive a share of the proceeds from the sale, as the museum had previously announced.
After the first auction, it was the turn of the two other paintings. The work "Quatre pommes et un couteau" was auctioned for 8.7 million dollars. Its estimated value was between 7 and 10 million dollars. "La mer à l'Estaque" generated proceeds of 2.6 million dollars. It was slightly below the estimate of 3 to 5 million dollars. It was not known who bought the works.
Criticism from the museum association
The auction of the paintings was met with massive criticism in the run-up to the event. It was a "breach of the dam" and a "breach of taboo", said Tobia Bezzola, President of the International Council of Museums (ICOM) and museum director in Lugano, on Swiss radio SRF. The sale called into question a consensus among museums that the collections would not be touched.
"The sale as a last resort was a painful step for us," museum director Markus Stegmann was quoted as saying in Friday's press release. Thanks to the successful auction, the collection will be preserved in its historical context and remain accessible to the public.
Complete renovation starts
With the auction, the foundation has made its central contribution to the overall renovation of the Museum Langmatt, according to a statement from the city of Baden. In June, Baden voters approved a loan of CHF 10 million for the complete renovation of the museum at a cost of CHF 18.8 million.
The focus is now on implementing the renovation, the city of Baden continued. The start of construction is planned for March 2024 and the reopening of the museum in spring 2026.
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