East Wind over Weehawken (1934)
Hopper's Blackwell's Island (1928) sold for $19,2 million last May
September 1, 2013, source: Pennsylvania Academy of the Fine Arts (PAFA)
"East Wind over Weehawken" (1934, 34 1/8 x 50 3/16 inches) will be auctioned in December 2013 at Christie’s New York, with a pre-sale estimate of $22–28 million. PAFA purchased the painting in 1952 from the artist’s dealer, Frank K. M. Rehn. In keeping with PAFA’s collections policy and standard practice in the museum field, all proceeds from the sale will go into the new acquisitions endowment, quintupling the funds generated annually for the purchase of art.
PAFA will retain the more important of its two paintings by Hopper, "Apartment Houses" (1923, 24 x 28 15/16 inches). PAFA purchased the work out of its 1923 Annual Exhibition, making this the first oil painting by Edward Hopper to enter the collection of any museum.
Harry Philbrick, Edna S. Tuttleman Director of the Museum of the Pennsylvania Academy of the Fine Arts (PAFA), stated, “We are going back to our tradition of actively collecting contemporary art. Just as we purchased 'Apartment Houses' when Hopper was still an emerging artist, we will use the proceeds from the endowment to build a broad base of the works of today’s emerging and mid-career artists, and tomorrow’s”.
David R. Brigham, President and CEO of PAFA, added that “This endowment will give us resources to do both, in keeping with the Strategic Plan that we are now finalizing after a year of input and planning by our faculty, staff and stakeholders.”
Recent sales of paintings by Edward Hopper
"Blackwell's Island", a large and impressive work painted in 1928 was sold at Christie's New York for $19,2 million last May. The same auction house sold "October on Cape Cod" (1946) for $9,6 million in November 2012. In May 2012, Sotheby's sold "Bridle Path" for $10,4 million. Auction record for Edward Hopper is $26,9 million for "Hotel Window" (1956) in 2006.