Frank Stella (B. 1936), Cipango (Small Version)

Frank Stella (B. 1936)
Cipango (Small Version)
alkyd on canvas
23 3/8 x 23 3/8 in. (59.4 x 59.4 cm.)
Painted in 1962.

Special Notice
On occasion, Christie's has a direct financial interest in the outcome of the sale of certain lots consigned for sale. This will usually be where it has guaranteed to the Seller that whatever the outcome of the auction, the Seller will receive a minimum sale price for the work. This is known as a minimum price guarantee.
Where Christie's has provided a Minimum Price Guarantee it is at risk of making a loss, which can be significant, if the lot fails to sell. Christie's therefore sometimes chooses to share that risk with a third party. In such cases the third party agrees prior to the auction to place an irrevocable written bid on the lot. The third party is therefore committed to bidding on the lot and, even if there are no other bids, buying the lot at the level of the written bid unless there are any higher bids. In doing so, the third party takes on all or part of the risk of the lot not being sold. If the lot is not sold, the third party may incur a loss. In most cases, Christie’s compensates the third party in exchange for accepting this risk with remuneration based on a fixed fee if the third party is the successful bidder or, if the third party is not the successful bidder, either a fixed fee or an amount calculated against the lot’s hammer price. The third party may also bid for the lot above the written bid. Where the third party is the successful bidder, Christie’s will report the final purchase price net of the fixed financing fee for taking on the guarantee risk.
Third party guarantors are required by us to disclose to anyone they are advising their financial interest in any lots they are guaranteeing. However, for the avoidance of any doubt, if you are advised by or bidding through an agent on a lot identified as being subject to a third party guarantee you should always ask your agent to confirm whether or not he or she has a financial interest in relation to the lot. This is a lot where Christie’s holds a direct financial guarantee interest that is backed by a third party’s irrevocable bid.

Provenance
Hollis Frampton, New York
Mr. and Mrs. Leo Castelli, New York, 1963
Peder Bonnier Gallery, New York, 1992
Private collection, Los Angeles
By descent from the above to the present owner

Saleroom Notice
Please note the third line of provenance should read: Peder Bonnier Gallery, New York, 1992

Pre-Lot Text
Property from a Distinguished Southern California Collection

Literature
L. Rubin, Frank Stella: Paintings 1958 to 1965: A catalogue raisonné, New York, 1986, pp. 180-181, no. 195 (illustrated in color).

Exhibited
Dayton Art Institute, An International Selection 1964-1965, September-October 1964.
Madrid, Fundación Juan March, Coleccion Leo Castelli, October 1988-January 1989, pp. 109 and 116, no. 50 (illustrated in color).
New York, Stux Gallery, Geometries of Color: American Post-Painterly Abstraction, January-March 1991, n.p. (illustrated in color).
East Hampton, Guild Hall Museum, A View from the 60's: Selections from the Leo Castelli and the Michael and Ileana Sonnabend Collection, August-September 1991.
New York, Rubin Spangle Gallery, Frank Stella: Concentric Squares 1962-74, October-November 1991.