Christie's to Auction Landmark Hiroshige Collection

A remarkable collection of Japanese prints, meticulously curated over half a century by American businessman Alan Medaugh, is poised to enter the auction market through Christie's. Comprising more than 600 works by the revered Utagawa Hiroshige, a formidable peer of the celebrated Hokusai, this ensemble is heralded as one of the most distinguished of its kind. The impending sale underscores a burgeoning global interest in Japanese ukiyo-e, signaling a potential shift in the art market's focus beyond Hokusai's iconic 'Great Wave' to embrace Hiroshige's profound artistic contributions. The initial auction, featuring over 180 prints, is scheduled to commence in New York this September, offering a rare opportunity for collectors to acquire these exquisite pieces.

For many years, discussions surrounding Japanese prints were invariably dominated by Hokusai's 'The Great Wave'. However, this long-standing narrative is beginning to evolve. The forthcoming sale of Alan Medaugh's collection by Christie's marks a pivotal moment, bringing to the forefront the masterful works of Utagawa Hiroshige. Medaugh, a devoted collector, spent fifty years meticulously assembling this collection, driven by a quest for the most pristine impressions of Hiroshige's art. His dedication culminated in a collection that experts now regard as one of the finest ever amassed, with the first segment of the auction slated for September 17 in New York. The timing appears particularly opportune for such a significant offering.

The Japanese print market has recently emerged as an unexpected success story within the auction world. Hokusai's masterpieces have consistently outperformed expectations, with exemplary prints of 'The Great Wave' fetching record prices. Last year, Sotheby's achieved a staggering $2.8 million for a 'Great Wave' print from the Okada Museum, nearly triple its high estimate, as part of an $88 million sale that showcased the robust demand for premium Japanese art. Building on this momentum, Christie's now believes that Hiroshige is commanding his own moment in the spotlight. Takaaki Murakami, Christie's head of Japanese and Korean Art, observed that auction estimates for these works have steadily increased over the past six to seven years, with actual sale prices frequently doubling their initial low estimates, indicating a vibrant and expanding market.

Murakami further noted a significant internationalization of the market, attracting younger collectors—a highly sought-after demographic by art dealers and auction houses—and broadening demand far beyond Japan. He contends that, despite their growing appeal, the finest Hiroshige prints remain undervalued when compared to Hokusai's. This very sentiment fueled Medaugh's lifelong pursuit. His journey began with a single Hiroshige print acquired during a trip to Japan with his wife, sparking a realization of the subtle yet profound differences in impression quality, color vibrancy, and detail preservation across various prints. This discovery ignited a passionate quest to find the earliest and best-preserved examples.

Over the subsequent five decades, Medaugh embarked on more than two dozen trips to Japan, immersing himself in museums and scholarly texts to hone his connoisseurship. Rather than merely accumulating prints, he often invested in books to deepen his understanding. By the end of his dedicated collecting journey, he had amassed approximately 700 Hiroshige works, always prioritizing early impressions in impeccable condition. Medaugh reflected on his fascination, stating, "I think it actually was seeing the different moods he could create with color. When you see a really fresh print… there are some that have been real survivors."

While this level of specialization might seem niche, it lies at the core of today's thriving market for Japanese woodblock prints. These prints were traditionally created from carved blocks that gradually deteriorated with repeated use. Consequently, earlier impressions exhibit sharper lines, more delicate color gradations, and details that often vanished in later printings. For serious collectors, these subtle distinctions are paramount, differentiating a good print from an exceptional one and significantly influencing market value. Hiroshige's influence has also expanded beyond the auction realm; his iconic series 'One Hundred Famous Views of Edo' inspired European masters like Van Gogh and Monet. More recently, Takashi Murakami dedicated a major Gagosian exhibition to exploring this series, hailing it as a return to the foundations of modern painting.

As Medaugh approaches his 83rd birthday this month, he revealed that his decision to sell was not solely market-driven. "I don’t want some guy winding up in the estate wondering what to do with these things," he remarked, expressing a desire to actively participate in finding new stewards for his cherished collection. Many of these prints, after all, have journeyed through numerous hands over nearly two centuries. As for the proceeds from the sale, the retired financier remains undecided, though he playfully hinted at the possibility of initiating "another small collection."