A self-portrait by Vincent Van Gogh painted in Saint-Rémy-de-Provence in 1889 was sold for US $ 71,5 by Christie's in New York on November 19th 1998. This bid was the second best ever for Van Gogh whose record price stands at US $ 82,5 million for the portrait of his friend, Dr Gachet, sold by Christie's in 1990.
This beardless self-portrait which Van Gogh offered to his mother on her birthday was in the possession of Jacques Koerfer, head of the BMW car manufacturing company who died in 1991. He also owned Cézanne's «Chateau Noir» which sold for US $ 11,5 million during the same sale.
«Cursed» painters like Van Gogh seem to be the most coveted by wealthy collectors. For example two portraits of Jeanne Hébuterne by Amédéo Modigliani were sold respectively for US $ 15,1 million and US $ 9,9 million by Sotheby's on November 16th 1998 while a self-portrait by Haitian-born artist Jean-Michel Basquiat, who died from a drug overdose at 28 in 1988, fetched a record price of US $ 3,3 million in a Christie's sale of modern and contemporary art the same week.
Otherwise, Sotheby's and Christie's recorded overall results which were somewhat unsatisfactory. Sotheby's totalled US $ 211,5 million for their autumn sales while Christie's fared slightly better with US $ 276,6 million. The combination of these results just exceeded the total of low estimates.
As a conclusion fine paintings have sold well while collectors and dealers who have been deterred by high reserve prices fixed by vendors neglected works of average quality.
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