ISO: Eddie Martinez original (large)

[queequeg]

Eddie had been on my watch list for many years. Three years ago I realized I better buy something asap ... too late! All the galleries started giving first dibs to "serious collectors" and instagram pseudo celebrities etc.

Well anyway maybe you are in luck. The one ^ in the midlle right is being flipped at phillips next month. So far his auctions have been kind of tame despite the supposed demand. Good luck.

[collectorofart]

They wont be so tame this time around. Theres a nice one at Sothebys too.

[ricosg11]

Mitchell innes and nash dont have inventory?

Even as a lover of his work Id be surprised if they are moving these so fast at 75k primary.

[artlover]

Anyone know how much the works on paper were going for at Mitchell Ines?

There was one recently auctioned at paddle8 but for got how much it ended up selling for.  There is one now unsigned marker on paper tiny piece going for 1900 and still 2 days to go.  

[queequeg]

I believe the 2k estimate on that drawing is a reflection of current retail. Or seems pretty close to it.
And his retail prices have roughly increased by about 50 to 100 percent over the past 1-2 years.

[artlover]

Thanks, I did some digging and found that Eddie Martinez paintings have been selling out for about 75K recently at Frieze London 2015, Armory 2015, and Art Basel 2015.  The drawings were sold for 2,500 at range of 9in x 11in at Frieze London 2015 and sold out.   That one being auctioned at paddle 8 is tiny at 5.75in x 8in without much color and looks like may go higher on the live auction portion.  I remember a recent drawing auctioned at paddle 8, 9in x 12in went up as high as 5K if not mistaken.  Crazy.  Seems impossible to have access to any of his work unless you are a major collector at the moment.  I'm curious to see what the prices will go in the recent wave of works being sold at auction.  Any thoughts on them?  Any one think it will be a break out moment for him?  

[queequeg]

I think his recent black and white paintings have been some of the best ones so I wouldn't discount anything based on a lack of color. I think that one on paddle 8 isn't bad myself. It's a bit more expensive than they were going for last year but probably only by a couple hundred bucks - although I guess it depends where it ends, I wouldn't chase it myself but... I think his works on paper are a bit easier to acquire but still requires persistence.

I expect his abstracts will always be prized than his older work but I think that still life at phillips is pretty good, if you can get in the 10-15k estimate it would be a good buy in the long run. The larger one at Phillips probably sold for about 40k originally and I guess it will double the high estimate. don't see why his paintings shouldn't eventually sell in the same price range as someone like Jonas Wood etc. but so far his auctions have been subdued, I guess hxfour seems to think that's about to change. If you're a rich collector 75k is nothing for something that will likely make you a few hundred grand in a few years but who knows, they could be wrong. I just just missed the window to buy one of his paintings a few years ago. The quest to get one since then just made me even more cynical and irritated at the art world and gallery system. It's such a rigged game for the insiders.

[artlover]

i agree that the primary market is highly controlled for insiders. must have some high powered art advisor and friends in the world to get anything good now a days.  I do feel that Eddie Martinez is about to get bigger.  He has a good gallery behind him and recent exhibitions have been successful.  Only time will tell how crazy it will get.  The abstract paintings look awesome.  Wouldnt be bad to have a work on paper since those canvases are just out of my league now. 

[collectorofart]

Sorry We're Closed in Brussels had lots of nice small works on paper from his exhibition last week.

Thanks for the dialogue ladies and gents.

[iron]

Not original/s but some fantastic quality prints still available HERE

[queequeg]

Wow, I really don't get it. The huge martinez at phillips went for around 30k. The seller lost money on that sale.
That was an absolute bargain - I guess. I hope you got it collectorofart. Funny the older martinez sold for about 22k - which doesn't make sense at all in comparison.

The "art market" is something I'll never figure out. It has been (not totally impossible) but really really hard to get a nice big canvas for the past 2 to 3 years (unless you're a well known collector or celebrity) and yet it sells for well under retail?

[volvic]

Here is my reasoning behind this:

The Large Eddie was not very strong, it was the weakest out of the 4 in the photos and this is from his newer style of work which is more desirable right now but over the last 12 months there has been a lot of this abstract style available from art fairs and shows so the people who wanted this style has probably already bought one which didn't leave any buyers to bid on this one. The older work will appeal to an older Eddie martinez collector who wanted a very good older example, 2 different markets and sets of buyers IMO

But that aside, i think the large one at 30k was an absolute bargain.

[queequeg]

Gabin? You mean Eddie right, it was perhaps the weakest of the 4 but I honestly consider them all good examples. Yeah I don't know, an article recently mentioned how the amount of art expected to sell at the spring auctions is about half as last spring so perhaps we're in a soft market overall. But its' still very odd. Although it certainly isn't the first time I've encountered an artist that sells out shows yet doesn't blow up at auction.

[ricosg11]

Big galleries have their rolodex and know the price points they can sell to them. No different here. There is no justification on earth selling those primary at 75k. If they were smart they would have held them at 30k-ish and then this would have popped at 75k, but what do I know. Just another example of a gallery being short sighted at the expense of their talent.

Love his work. He will be fine, but if you were investing you may have a decade before you can recoup.

[queequeg]

I think it's the next size up that are around 75k and I'd expect you get a discount. I think this size is currently around 40-50k. On the one hand based on the ridiculousness we've seen recently it's not unreasonable (i.e. artrank hacks auctioning for 6 figures.) But it's hard to quantify the dynamics behind certain artists at auction.

[artladval]

The Sotheby's one today more than doubled its high estimate

[artlover]

Another large Eddie Martinez being auctioned at Sotheby's Contemporary Art day auction. A 2011 Untitled that was exhibited at Saatchi. It is a very nice one of his earlier work. Will it break 100K? He is certainly getting popular.  Will he become the next Jonas Wood?


Very tempted in getting one of his bigger works on paper now, quite hard to get a small to medium canvas work now.

[artladval]

The Sotheby's eMart result doubled the high estimate: www.sothebys.com/en/auctions/ecatalogue/2016/contemporary-art-day-l16023/lot.139.html

[queequeg]

May 10, 2016 12:25:48 GMT -8 volvic said:

Here is my reasoning behind this:

The Large Eddie was not very strong, it was the weakest out of the 4 in the photos and this is from his newer style of work which is more desirable right now but over the last 12 months there has been a lot of this abstract style available from art fairs and shows so the people who wanted this style has probably already bought one which didn't leave any buyers to bid on this one. The older work will appeal to an older Eddie martinez collector who wanted a very good older example, 2 different markets and sets of buyers IMO

But that aside, i think the large one at 30k was an absolute bargain.

Noticed this painting hit the auction block again and I remembered this thread. Originally auctioned for $32,500 in 2016. Well under primary at the time. A total bargain. If I had 30k just floating around I would have easily been a bidder on that. Oh well. Just sold for approximately $160,000 - A nice 100k profit on a three year investment. I believe one of his paintings at I think an AmFar auction in Hong Kong sold for over 300k so he's finally getting some respect at auction.

www.phillips.com/detail/EDDIE-MARTINEZ/UK010519/105

But what's the most heartbreaking for me is this Kaws, 20" tondo, it sold for $206,000.

www.phillips.com/detail/KAWS/UK010519/106

I was offered a similar one from the same show for about $15,000. I had recently lost my job though and had some debt so I freaked out and stressed out when I got the email. Eventually I decided I must try and buy it and would do anything I could to pay it off, but by that time, about two hours later, it was too late :-(