Zabludowicz Day Sale at Christie’s Sees Over Half of Artworks Unsold

In an online sale featuring works from the Zabludowicz collection of contemporary art that concluded on June 30, over half of the artworks failed to sell. The sale, estimated to bring in £292,000 to £435,400 ($385,100–$574,200), garnered only £95,377 ($126,285).

Details of the Zabludowicz Collection Sale

Anita and Chaim “Poju” Zabludowicz, known for their extensive collection of around 8,000 contemporary artworks, sold 100 pieces at Christie’s London last week. The evening sale on June 25 generated £15.5 million ($20.5 million), led by a $5 million painting by Philip Guston.

The day sale, which included 44 lots and ran from June 18 to June 30, focused on lower-value works with estimates ranging from £500 ($662) to £80,000 ($105,925). Many of the pieces were created by emerging artists between 2007 and 2014, now in their 40s and 50s.

Artworks That Failed to Sell

Two lots were sold without reserve, leading to Elliott Hundley’s mixed-media piece and Brendan Fowler’s work each selling for £127 ($168). Hundley’s piece had an estimate of £2,000–£3,000 ($2,650–$3,975).

Market Trends and Speculations

As reported by Katya Kazakina in Artnet News, the market for many artists featured in the online sale has cooled. Auction houses are now selling less “ultra-contemporary” art compared to previous years. This has raised questions about the Zabludowicz’s motivations for selling.

Christie’s marketed the sale as a “thoughtful edit” by collectors preparing to pass on their collection to their four children. However, speculation also suggests that ongoing tensions related to the family’s ties to Israel may have influenced their decision to divest.