Market Overview

Christie's New Los Angeles Flagship Grand Opening Exhibition April 20 – 28, 2017

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Christie's, the world's leading art business, announces a major
exhibition to celebrate the opening of its new Los Angeles flagship in
Beverly Hills. From April 20-28, Christie's will open the doors of its
new West Coast arts space with a special exhibition of more than 60
paintings, sculptures, photographs, and works on paper, as well as a
selection of jewels, watches and private sale items. The exhibition was
curated from the auction house's signature May sales of Impressionist,
Modern, Post-War, Contemporary and Latin American art, which take place
in New York, and was designed to create an engaging visual dialogue
between the major artists of each era, from Europe to the Americas.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170405006279/en/

Property From Cleveland Clinic Generously Donated by Mrs. Sydell Miller, Pablo Picasso, Femme assise ...

Property From Cleveland Clinic Generously Donated by Mrs. Sydell Miller, Pablo Picasso, Femme assise dans un fauteuil, 1917 – 1920, oil on canvas. Estimate: $20,000,000 – 30,000,000 (Photo: Business Wire)

Among the highlights of the exhibition are masterpieces by the titans of
20th century art, including Three Studies for a Portrait
of George Dyer
(1962), the first triptych Francis Bacon
painted of his great muse (estimate on request – exceeding $50 million); Leda
and the Swan
(1962) by Cy Twombly ($35-55 million), a
celebrated tour-de-force by the artist that is emerging from a private
collection after nearly 30 years unseen by the public (estimate $35-55
million); and Femme assise dans un fauteuil (1917-1920) by Pablo
Picasso
, a Cubist portrait of the artist's first wife, the
Russian ballerina Olga Khokhlova (estimate $20-30 million). The Grand
Opening exhibition at Christie's LA marks the first time these three museum-quality
masterpieces will be exhibited together publicly in the U.S.

Sonya Roth, Managing Director, Christie's LA: "This is
Christie's moment to shine in LA and we are delighted to have assembled
such a stellar exhibition of fine art, jewelry, watches and private sale
items to celebrate our grand opening in Beverly Hills. Our goal over
these next few weeks is to welcome in both new and established
collectors to acquaint themselves with all that Christie's has to offer
the LA community -- whether it is expertise, education, or simply
engagement with the beautiful objects Christie's has been entrusted
with. This first exhibition is just the start of a dynamic program to
come, and we look forward to officially embarking on this exciting next
chapter in the growth of Christie's on the West Coast."

CHRISTIE'S ON THE WEST COAST

Christie's previously
announced
the expansion of its presence on the West Coast in
response to growing demand among LA-area collectors for greater
access to buying and selling opportunities as well as fine art advisory
and appraisal services. The move mirrors Christie's recent expansion in
Shanghai and Beijing, where the company has been steadily increasing
access to online and saleroom collecting opportunities, arts engagement,
and educational partnerships. Together, mainland China and the West
Coast region of the United States account for the largest influx of new
buyers at Christie's in recent years. As it has done in mainland China,
the new multi-use space will house a team of highly-respected
specialists working across Christie's major collecting categories,
supplementing the company's long-standing San Francisco presence, and
dramatically increasing the company's influence on the West Coast.

The new two-story, 5,400 square foot flagship building has been
completely renovated and reconstructed from its previous retail space.
For the design and construction of this unique space, Christie's engaged wHY,
the interdisciplinary design team known for its work on the Marciano Art
Foundation, CalArts, and Los Angeles County Museum of Art, and Swinerton
Builders. The gallery has a grand yet flexible layout for hosting
exhibitions, social events, and educational programs. A 1,400
square-foot terrace on the second level creates a unique open space with
greenery that can double as programmable outdoor event space.

To learn more about Christie's LA, visit www.christies.com/la.

Note to editors:

  • Rockefeller Center in New York will continue to operate as Christie's
    auction saleroom for the Americas.
  • Christie's has maintained offices in Los Angeles and San Francisco
    since 1978 and 1982, respectively.
  • Artworks featured in the Grand Opening Exhibition will be offered for
    sale at Christie's on the following dates: May 15 (Impressionist and
    Modern Art Evening Sale), May 17 (Post-War and Contemporary Art
    Evening Sale)
    May 17 (Geneva Rare Watches sale) and May
    24 (Latin American Art Evening Sale).

About Christie's

Christie's, the world's leading art business, had global auction,
private and digital sales in 2016 that totalled £4 billion / $5.4
billion. Christie's is a name and place that speaks of extraordinary
art, unparalleled service and expertise, as well as international
glamour. Christie's offers around 350 auctions annually in over 80
categories, including all areas of fine and decorative arts, jewellery,
photographs, collectibles, wine, and more. Prices range from $200 to
over $100 million. Christie's also has a long and successful history
conducting private sales for its clients in all categories, with
emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters
and Jewellery.

Christie's has a global presence in 46 countries, with 10 salerooms
around the world including in London, New York, Paris, Geneva, Milan,
Amsterdam, Dubai, Zürich, Hong Kong, and Shanghai.

*Estimates do not include buyer's premium. Sales totals are hammer
price plus buyer's premium and are reported net of applicable fees.

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