Weekly Roundup: Frieze Week Begins, Lauren Bacall’s Art Collection Heads to Auction, and More

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In case you missed it, here’s what made headlines in the art world this week:

Christie’s sells $75 million of artworks as Frieze begins
On Monday, London’s Frieze Week began with 44 works from the Essl Collection of contemporary art in Austria selling for $75 million at Christie’s. The sale produced a total that fell within the auction house’s presale estimated range of 40 million to 56.8 million pounds. Christie’s said it was the most valuable sale ever in London of a private collection of postwar and contemporary art. Top lot distinction went to Gehrard Richter’s four-panel panorama, Wolken (Fenster) which fetched $6.2 million pounds. [Bloomberg News]

Rediscovered Picasso hits auction block
An early portrait by Pablo Picasso recently discovered in Sweden will go up for auction at Stockholms Auktionsverk next week. Portrait d’homme, Dionís Renart was painted in 1899 when the artist was just 18 years old. It depicts his good friend at the time, fellow-artist Dionís Renart i Garcia with whom he reveled in bohemian Barcelona’s cafe Els Quatre Gats. The painting is signed with Picasso’s early moniker P. Ruiz P. [artnet news]

Lauren Bacall’s art collection heads to auction
An art collection amassed by the late movie star Lauren Bacall, including eight sculptures by Henry Moore will be sold at Bonhams in March 2015. The Bacall Collection includes prints by David Hockney, Pablo Picasso and John James Audubon, modern and contemporary art that Bacall bought at galleries in the United States and Europe, as well as furniture, jewelry and tribal works of art. The 700-lot collection is estimated to be worth $3 million. [Reuters]

Warhol sells for $5.5 million at Frieze Masters
New York and London gallery Skarstedt is off to a roaring start at Frieze Masters 2014, counting among its early sales Andy Warhol’s 1984 remix of Edvard Munch’s The Scream, which sold to a private collector for about $5.5 million. That sum pales in comparison to the $119.9 million Leon Black paid for Munch’s own version of The Scream at Sotheby’s back in 2012, which sold the record at the time for the most expensive artwork ever sold at auction. [artnet news]

Billion dollar art collection to debut at the Met
Featuring more than $1 billion worth of art, Cubism: The Leonard A. Lauder Collection is set to open on Monday at the Metropolitan Museum of Art. The collection, considered to be one of the most important assemblages of Cubism in the world, marks a turning point for the Met that includes new curatorial hires, a planned renovation of its Lila Acheson Wallace Wing and an expansion into the building that is currently occupied by the Whitney Museum of American Art. [Wall Street Journal]

Miami art collector unveils plans for Latin American art museum
Gary Nader, a Miami art collector with a gallery in Wynwood, revealed plans this week to build a Latin American Art Museum at a still-to-be-determined location in downtown Miami. The museum, he said, will feature about 600 paintings, drawings, and sculptures from his personal collection. Expected to open in early 2016, the 90,000-square-foot-museum will feature exhibits showcasing a variety of modern and contemporary media, including visual art, couture fashion, film, and music. To design the museum, Nader engaged Mexican architect Fernando Romero, known for his metallic, lopsided cylindrical design of the Soumaya Museumin Mexico City. Nader estimated the cost of the museum at $50 million. [Miami Herald]

Louvre Abu Dhabi reveals loans from France for opening year
Louvre Abu Dhabi has announced approximately 300 loans to come from major French institutions for its opening year, which will compliment the museum’s growing collection and universal narrative. The loans include Claude Monet’s The Saint-Lazare Station (1877) on loan from Muséee d’Orsay et de l’Orangie, Henri Matisse’s Still Life with Magnolia (1941) on loan from Centre Pompidou, and Edouard Manet’s The Fife Player (1866), which is being loaned by the Musée du Louvre. [ArtfixDaily.com]

Image: Gerhard Richter, “Wolken (Fenster)” (Clouds (Window)), 1970