Willem de Kooning’s paintings continue to go for record numbers of dollars. He shows us that even in death, he is a critical Abstract Expressionism artist.
Willem de Kooning was one of the founders of abstract expressionism. His paintings sell for record amounts of dollars along with the panting of other abstract expressionism artists such as Jackson Pollock and Mark Rothko. The Interchange painting had an excellent provenance where it is certified as an original Willem de Kooning, and we know who has owned it and how much they paid for it.
Until now, the Interchange painting has rarely been shown to the public as it has been in the hands of private collectors.
Why Willem de Kooning’s Interchange Sold For 300 Million USD
When many people hear that Willem de Kooning’s Interchange sold in 2015 for $300 million, they are astounded at the price of the painting as this painting is only about 79” x 69” large.
That means one square inch of this painting sold for an astronomical amount. There are several reasons why the painting sold for so much money. Here are some reasons:
- Painting By Willem de Kooning – Willem de Kooning is considered one of the founders of the abstract expressionism movement. Because of this, the work by most abstract expressionism artists, including Mark Rothko and Jackson Pollock, along with William de Kooning, continue to sell for record amounts of money.
- Willem de Kooning’s Paintings Are Valuable – Willem de Kooning’s paintings are valuable. Many of them continue to sell for a lot of money, ensuring that all the paintings continue to set a record number of dollars.
- Collectors Like The Paintings – Art collectors like the William de Kooning paintings and want to purchase them. This, of course, also helps to drive the price up.
- Limited Supply – As William de Kooning has passed away, there is only a limited supply of his paintings left that can be bought and sold.
- Excellent Provenance – Like many Willem de Kooning paintings, this painting has perfect provenance. They know who Willem de Kooning sold the painting to and every single person who bought the painting along the way. The painting can easily be verified as an original Willem de Kooning painting.
- Rarely On Public Display – Even though Kennett Griffin bought this painting to be on loan to the Art Institute of Chicago, this is a painting that has seldom been on public display. Museums have not owned it but individual collectors throughout the entire life of the painting. These are other reasons why the Interchange painting sold for a record number of dollars. It is a painting that has increased significantly in value over the years.
Willem de Kooning’s Interchange Painting Sold For 300 Million in 2015
In 2015 the hedge fund investor Kennett Griffin bought de Kooning’s interchange for $300 million. Interchange is a 1955 painting by de Kooning.
The David Geffen Foundation sold the paintings; this is a massive amount of money to be paid for one painting.
Also, in the same sale, Kenneth Griffin bought Jackson Pollock’s Number 17A for 200 million USD. Both paintings went for a record 500 Million USD.
Kenneth Griffin, on the board of the Art Institute of Chicago, bought the paintings to be on loan and displayed at the Art Insitute in Chicago; both the Jackson Pollock and Interchange can be seen at the Art Institute in Chicago.
A few things about this painting:
- Originally this painting was sold in 1955 for $4,000 to Architect Edgar Kaufmann Jr.
- The Kaufman Estate sold this painting and others at Sotheby’s in New York City in 1986 to a Japanese art dealer Shigeki Kameyama for 20.7 million USD; this painting set a price of art being sold by a living artist.
- A few years later, the painting was sold at a loss due to a Japanese recession to David Geffen in the early 1990s.
- In September 2015, David Geffen sold it to Kenneth Griffin for 300 Million USD.
You can see how this one painting went from being sold for 4,000 USD in 1955 to 300 million in 2015.
About Willem de Kooning’s Interchange Painting (1955)
Willem de Kooning’s Interchange, also known as interchanged.
Some say that this 1955 painting marked the transition between Willem de Kooning’s painting of the female form to urban landscapes. We know that the painting does mark a change in his painting as we can see some influence from the artist Franz Kline.
Franz Kline inspired De Kooning to paint with quick gestural marks instead of violent brushstrokes. The painting features a fleshy pink mass in the center representing a seated woman. So even though de Kooning painted landscapes, he still had the female form in some of his paintings.
Willem de Kooning continues to be an essential abstract expressionism artist. He has a great style that has inspired many artists who have gone after him.
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What Makes Jackson Pollock’s Art So Valuable?
Jackson Pollock was a brilliant and creative artist who was not afraid to try new techniques with art. He is known for being a founder of Abstract Expressionism and the gestural technique, also known as action painting. He never saw much success in his lifetime, but today his painting fetch millions of dollars and are considered extremely valuable.
What Is The Cultural Significance Of Abstract Expressionism Art?
The cultural significance of abstract expressionism art is it was a forerunner for the cultural changes that took place in the United States in the 1950s and 1960s. The Abstract Expressionism movement started after World War II in the 1940s and continued into the 1950s. The world saw great cultural shifts in the 1950s and the 1960s.
You can learn more by reading the blog What Is The Cultural Significance Of Abstract Expressionism Art? by clicking here.
What Makes Mark Rothko’s Paintings So Valuable?
Mark Rothko’s paintings have been valuable for many years; they are in high demand and continue to fetch record prices around the globe. At first glance, the paintings may look simple, but upon closer look, they are very complex; they are meant to evoke our emotions and transport us to another realm.