Archive for the 'Auction Results' Category

AO Auction Results – London: Christie’s Post-War and Contemporary Art Evening Auction, June 27, 2012

Thursday, June 28th, 2012


Yves Klein,  Le Rose du bleu (1960) which sold for £23.5 million (£3.5 million over its high estimate)

Last night in London, Christie’s Post-War & Contemporary Art Evening Auction experienced a stellar sale. Totaling £132.8 million against an expected excess of  £120 million, it was the highest grossing contemporary art sale in Europe. Achieving sales with an 87% sell-through rate and 98% sold by value – Christie’s sold all but 9 on it’s 71 lots – save for the 2 withdrawn. Four of the lots sold above £10 million, and five lots boosted over $10 million. Christie’s Head of Post-War & Contemporary Art, Europe, Francis Outred, was quoted in a post-sale press release: “Following the record result achieved at Christie’s New York in May, we are delighted with tonight results which established a new record for an auction of Post-War & Contemporary Art in Europe… Overall we brought together consignments from four continents, reached buyers on four continents and benefitted from a depth and strength of bidding from across the room and on the phone.”

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AO Auction Results – New York: Phillips de Pury Contemporary Evening Sale

Saturday, May 12th, 2012


Jean-Michel Basquiat’s, Untitled (1981). Image courtesy of Phillips de Pury.

The Contemporary Art Evening Sale at Phillips de Pury marked the last auction of the May season in New York. At the start, the salesroom was filled with lively energy among the crowd, with collectors mingling, including a Mugrabi brother. This show came after a record breaking fortnight of auctions and fairs within the art world. Coming down to the final sale, it was apparent that the buying was beginning to slow. Still, Phillips de Pury achieved a solid total sale of $86.8 million, which fell within their anticipated estimate of $75–110 million.

Before the Contemporary Evening Sale begins. Photo By Aubrey Roemer for Art Observed.

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AO On Site Auction Results – New York: Sotheby’s Contemporary Art Evening Sale, May 9, 2012

Thursday, May 10th, 2012


Sotheby’s staff preparing for the sale. Photos on site for Art Observed by Aubrey Roemer unless otherwise noted.

After Tuesday night’s multi-record breaking sale at Christie’s, last night’s Contemporary Evening Sale at Sotheby’s seemed to hold a somewhat lower energy, possibly a result of the second consecutive week of auctions and fairs wearing on the collectors. Yet the sale totaled $266 million—within Sotheby’s pre-sale estimate of $215–300 million—a number considerably higher than last May’s Contemporary Evening Sale total of $128 million. Seven of the artworks sold at more than $10 million, and there was an overall sell-through rate of 80.7%. In a post-sale press conference, Sotheby’s Head of Contemporary Art, Alex Rotter, commented “the market is very healthy with active bidding.”


Tobias Meyer giving a press talk about the sale. (more…)

AO On Site Auction Results – New York: Impressionist and Modern Evening Sale at Christie’s, May 1, 2012

Wednesday, May 2nd, 2012


Paul Cezanne, Jouer de cartes (1892–96). Image courtesy of Christie’s.

Last night’s Impressionist and Modern Art Evening Sale at Christie’s began this season’s auctions in New York. Christie’s overall sales totaled $117 million—well over their low estimate of $90.5 million. According to Christie’s, they achieved a sell-through rate of 96% by value and 90% by lot. In a post-auction press conference, Christie’s Head of the Department, Brooke Lampley, said that the results were exactly what they had expected, given that they had tailored their sale to match what the market was looking for.


View of the Impressionist and Modern Art Evening Sale at Christie’s. Photo by Aubrey Roemer for Art Observed.

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Tuesday, April 3rd, 2012

‬Sotheby’s contemporary Chinese art auction sold several works above estimated prices in Hong Kong on Monday, top sale was Zhang Xiaogang’s ‘Bloodline: Big Family No. 2′ for US$6.7 million, other sales including works by Liu Wei, Wang Guangyi, Jia Aili [AO Newslink]

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AO Auction Results – London: Post-War and Contemporary Art Sales at Christie’s and Sotheby’s, February 14-15, 2012

Thursday, February 16th, 2012
Francis Bacon, Portrait of Henrietta Moraes (1963). All images via Christie’s and Sotheby’s.
Over the past two days, the evening Post-War and Contemporary Art auctions held by Christie’s and Sotheby’s have demonstrated investors’ continuing interest in the art market. On Tuesday, Christie’s total sales crept up to $126.5 million—just short of their high estimate of $131.9 million. Sotheby’s was farther behind in overall total, but overshot their high estimate of $75.3 million with a total sales $79.5 million, including fees. London-based art adviser Wendy Goldsmith said, “We expected fireworks, and we got it,”  in an interview with Bloomberg News. (more…)

AO Auction Results: Old Masters Sales at Christie’s and Sotheby’s January 25-26, 2012

Saturday, January 28th, 2012

Giovanni Antonio Canal, called Canaletto, View of the Churches of the Redentore and San Giacomo. Via Bloomberg.

Sotheby’s and Christie’s closed the week strongly with sales of the concurrent Old Masters auctions reaching $120 million. Sotheby’s came out on top, bringing in $67.7 million thus far, with Christie’s totaling $51.8 million, including commissions. These sales continue to reinforce the vitality of the art market, despite international economic turbulence. Many record prices were set for artists this past week, as the cross section of European Master Works drew interest from buyers and institutions around the world.
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AO Onsite Auction Results: Guggenheim Benefit Auction & Contemporary Art Evening Sale Realize $74M Total at Phillips de Pury

Monday, November 7th, 2011


Cy Twombly, Untitled, 2006 (est. $8-12 million, realized $9 million), via Phillipsdepury.com

Phillips de Pury kicked off the week of Contemporary art sales on Monday night with two back-to-back auctions. First came a 22-lot benefit auction with all proceeds going to the Guggenheim Foundation, immediately followed by the 44-lot evening sale of Contemporary art. The Guggenheim sale was estimated to bring $1.5-2.2 million and realized $2.7 million (the buyer’s premium was eliminated for that sale), and the evening sale brought in $71 million against a high estimate of $97 million. The evening’s top lot was an untitled Cy Twombly canvas that fetched $9 million against estimates of $8-12 million.

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AO Onsite Auction Results – New York: Impressionist & Modern Art Evening Sale at Sotheby’s Realizes $200M, Restituted Klimt Sells for $40M

Thursday, November 3rd, 2011


Gustav Klimt, Litzlberg am Attersee, 1914-15 (est. in excess of $25 million, realized $40.4 million) via Sothebys.com

The Impressionist and Modern art evening auction at Sotheby’s New York on Wednesday night realized $200 million for 57 of 70 lots sold. Business proceeded as usual within the auction house despite the deafening cacophony from protesters stationed outside the building’s main entrance (Sotheby’s has been feuding with their art handlers for months). Earlier today the auction house announced that one of the evening’s top lots – one of Matisse‘s bronze Nu De Dos sculptures estimated to bring $20-30 million- had been withdrawn from the sale after having been sold privately yesterday afternoon (along with the other three in the series, which also belonged to the Burnett Foundation, and which were slated to sell at auction over the next year). Excluding the Matisse, the sale carried estimates of $168-230 million. The $200 million total fell comfortably within expectations and bested Christie’s comparable sale on Tuesday evening. At the press conference Sotheby’s noted that last night’s results at Christie’s were “sobering” and that they did take the opportunity today to talk to consignors and in some cases lower reserves.

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AO Onsite Auction Results – New York: Christie's Impressionist & Modern Art Evening Sale Realizes $140M, or 55% By Value; Top Degas Bought In

Tuesday, November 1st, 2011


Max Ernst, The Stolen Mirror, 1941 (est. $4-6 million, realized $16.3 million), via Christies.com

Christie’s evening sale of Impressionist and Modern art on Tuesday night brought in $140 million against presale estimates of $210-300 million. Four of the top 5 most valuable lots failed to sell, including the auction’s cover lot – a Degas ballerina sculpture with a presale estimate of $25-35 million. The Degas had been shopped around privately with no luck and carried what many believed to be a very aggressive estimate. The auction house cited those two facts to explain that lot’s failure, as well as the overall performance of the sale. In general, fresh to market material faired best, and hefty presale estimates deterred bidding on the priciest works. What turned out to be the evening’s top lot – Max Ernest‘s The Stolen Mirror – was both fresh to market and carried an estimate in line with the artist’s records and with heightened interest in Surrealist material over the past few auction cycles. The canvas set the record for the artist at auction when it sold for $16.3 million against a high estimate of $6 million. The previous record was set this past June at Christie’s London with a 1923 work that brought $4.4 million.

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AO Auction Results – London: Sotheby’s Contemporary Art Evening Sale Realizes $28M; 20th Century Italian Art Sale Brings in $34M

Friday, October 14th, 2011


Alberto Burri, Combustione Legno, 1957 (est. $1.2-1.9 million, realized $5 million), via Sothebys.com

Sotheby’s London hosted a pair of auctions on Thursday evening that raised a combined total of $62 million. The 20th Century Italian Art sale, comprised of 58 lots, was followed by a 47-lot Contemporary Art sale. The $34 million achieved for the Italian auction was the highest total for an auction in this category, while the Contemporary sale fell just short of its $30 million low estimate. The mixed results suggest that there is money to be spent on the most desirable lots and that buyers are not willing to shell out for anything less. The sales progressed amid demonstrations outside the auction house by protestors of the company’s months-long battle with their art handlers in New York.

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AO On Site – Auction Results – “Artists for Haiti” Benefit Auction at Christie’s New York Organized by Ben Stiller and David Zwirner Raises $13.7M For Charity

Friday, September 23rd, 2011


Raymond Pettibon, No Title (From life to…), 2011 (est. $200,000-300,000, realized $760,000), via Christies.com

Ben Stiller and David Zwirner teamed up with Christie’s and hosted a much-hyped auction Thursday night with all proceeds benefiting relief efforts in Haiti. The event brought a little bit of LA to New York – Christie’s flew in Andrea Fiuczynski, president of Christie’s in Los Angeles, to conduct the auction, and a handful of celebrities were seen in the sales room. Fiuczynski reminded attendees, among them Ben Stiller and wife Christine Taylor, Jennifer Aniston and beau Justin Theroux, as well as tennis legend John McEnroe, that Christie’s would not be collecting a premium and that US buyers could claim a tax deduction for anything purchased that evening.
Christie’s Andrea Fiuczynski at the rostrum, via ArtObserved
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AO Auction Results – London: Sotheby’s Contemporary Art Evening Sale Realizes $174M; Duerckheim Collection Brings in $97M

Wednesday, June 29th, 2011


Sigmar Polke, Dschungel (Jungle), 1967 (est. $5-6.5 million, realized $9.2 million), via Sothebys.com

Sotheby’s evening sale of Contemporary art on Wednesday night brought this round of summer sales to a close and removed any lingering doubt about the art market’s recovery. Eighty-one of 88 lots offered brought in $174 million against a high estimate of $168.5 million and set a record for any auction the company has staged in London. The results were boosted by the inclusion of thirty-four works belonging to Count Christian Duerckheim, a German industrialist who collected German art religiously and often befriended artists he patronized. The Duerckheim lots, which had the benefit not just of quality and freshness but also storied provenance, were all sold during the first portion of the auction and fetched $97 million against a high estimate of $74 million. Leading the collection was Sigmar Polke‘s dotted Dschungel of 1967 which sold for $9.2 million and set the artist’s auction record.


Francis Bacon, Crouching Nude, 1961 (est.$11-14 million, realized $13.7 million), via Sothebys.com

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AO Auction Results – London: Christie’s Contemporary Evening Sale Realizes $127M, Bacon & Warhol Are Top Lots

Tuesday, June 28th, 2011


Francis Bacon, Study for a Portrait, 1953 (est. unpublished, realized $28.6 million), via Christies.com

Christie’s sale of Contemporary art on Tuesday night realized $127 million for 53 lots sold. The total, which fell just above the high estimate of $125 million once fees were added, is the highest for any sale at Christie’s in Europe since the boom of June 2008. The top lot was a Francis Bacon self portrait that shows a man sitting in a throne-like chair wearing a suit and glasses. The painting sold for $28.6 million against an unpublished estimate rumored to be about $17 million. A self portrait by the artist sold for $25 million at Christie’s spring sale in New York .


Andy Warhol, Mao, 1973 (est. $9.6-12.8 million, realized $11.1 million), via Christies.com

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AO Auction Results – London: Phillips de Pury’s Contemporary Art Sale Realizes $17M; Records Set for Beatriz Milhazes & Ugo Rondinone

Tuesday, June 28th, 2011


Beatriz Milhazes, O Moderno, 2002 (est. $1-1.3 million, realized $1.1 million), via Phillipsdepury.com

Phillips de Pury’s Contemporary art evening sale on Monday night at their new space in the Claridge’s Hotel, London realized $17 million for 27 of 31 lots sold. The sum (which includes fees) fell within presale estimates of $16.4-27.3 million despite the withdrawal of a high priced Cindy Sherman, reportedly because another version of the work sold at Art Basel earlier this month. The equivalent sale last year at Phillips realized just $6 million and nearly half the lots offered went unsold.

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AO Auction Results – London: Sotheby’s Impressionist & Modern Evening Sale Realizes $157M for 32 Lots Sold; Record Set with $40M Schiele

Wednesday, June 22nd, 2011


Egon SchieleHauser Mit Bunter Wasche (Vorstatd II), 1914 (est. $35.7-48.7 million, realized $40 million), via Sothebys.com

Sotheby’s 35-lot sale of Impressionist and Modern art in London on Wednesday night realized $157 million for 32 lots sold against estimates of $124-178 million. The evening’s top lot was a rare Schiele cityscape that brought in $40 million (or $35.5 million without fees) and set a record for the artist at auction. The painting was sold by the Leopold Museum in Vienna to raise the $19 million necessary to settle the restitution case of another Schiele in their collection. The previous artist record was set at Christie’s in 2006 with the sale of a cityscape for $22 million.


Alberto Giacometti, Trois Hommes Qui Marchent II, 1948 (est. $16.2-24.3 million, realized $17.3 million), via Sothebys.com

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AO Auction Results – New York: Sotheby’s Old Masters Sale, June 9th, 2011

Thursday, June 9th, 2011


Van Ruisdael, A Ruined Castle Gateway, all photos courtesy of Sotheby’s

Though not offered as much of a media spotlight as May’s auspicious and highly publicized Contemporary Art Auctions, today’s Old Masters at Sotheby’s was not entirely bereft of the spring auctions’ over-the-top price tags and bidding wars.

The belle of the ball came early in the sale when Lot 5, a landscape painting by Jacob Isaacksz Van Ruisdael with an estimate of $100,000- 150,000, sold at the Hammer Price of $725,000.  Sandwiched between several unsold lots, this work was an unpredictable success, garnering a sales price well beyond the scope of its estimate. Van Ruisdael’s auction record price was set in 2005, with a work that sold for $4.5 million; this anomaly aside, his work generally ranges from the $100,000-$400,000 range.  A Ruined Castle Gateway measures only 10 7/8 by 14 3/4 inches, but in spite of the work’s need for restoration and its small size, the painting is a beautiful example of Arcadian landscape portraiture.  The painting’s ruined walls harken back to the Roman Empire and ideals of classicism, and are a hallmark trait of Van Ruisdael’s work.

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AO Onsite Auction Results – New York: Phillips de Pury’s Contemporary Art Evening Auction Realizes $94.8M; Warhol’s “Liz #5″ is Top Lot

Thursday, May 12th, 2011


Andy Warhol, Liz #5, 1963 (est. unpublished, realized $26.9 million). All images via Phillipsdepury.com.

The week’s Contemporary art sales ended Thursday night with a fifty lot auction at Phillips de Pury & Co. The sale just missed its low presale estimate of $84.5 million before fees were added. Thirty-eight lots sold for a total of $82.7 million, or $94.8 million with fees. For the third time this week a Warhol canvas was the top lot. Liz #5, rumored to be sold by hedge-fund manager Steven Cohen, sold for $26.9 million against an unpublished presale estimate of $20-30 million. Unlike Warhol’s photo-booth self portrait on offer Wednesday night at Christie’s, Liz #5‘s trip to the auction block was brief. Bidding opened at $18 million and rose to $24 million before contenders called it quits.


Andy Warhol and Jean Michel Basquiat, Third Eye, 1985 (est. $2-3 million, realized $7 million)

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AO Onsite Auction Results – New York: Christie’s Post-War & Contemporary Art Evening Sale Totals $301.7M; Warhol & Rothko Are Top Lots

Thursday, May 12th, 2011


Andy Warhol, Self-Portrait, 1963-64 (est. $20-30 million, realized $38.4 million). All images via Christies.com.

Christie’s nearly white-glove sale of of Post-War and Contemporary art on Wednesday night brought in more than twice as the equivalent sale at Sotheby’s on Tuesday evening. Sixty-three of sixty-five lots sold for a whopping $301.7 million, giving the sale a sell through rate of 95% by lot and 99% by value. The total beat the high presale estimate of $299 million despite the fact that a Rauschenberg combine estimated to fetch between $12-18 million was withdrawn from the sale. Wednesday night’s results were the best the auction house has seen for a Contemporary evening auction since May 2008 (that sale realized $331 million). Bidding went on for about two hours, approximately fifteen minutes of which was spent on a single lot. Two telephone bidders chased Andy Warhol‘s blue self-portrait, one on the phone with Brett Gorvy of Christie’s and the other with Philippe Segalot, formerly of Christie’s. The audience laughed as bidding escalated in $100,000 increments and cheered each time one contender took a bigger leap ahead. In the end Gorvy’s buyer was triumphant and paid $38.4 million for the four-part piece, which was estimated to fetch between $20-30 million. The sale was a record for a Warhol portrait (self or otherwise) at auction.


Mark Rothko, Untitled No. 17, 1961 (est. $18-22 million, realized $33.7 million)

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AO Onsite Auction Results – New York: Sotheby’s Contemporary Art Evening Sale Brings in $128M; Record Set for Felix Gonzalez-Torres

Wednesday, May 11th, 2011


Felix Gonzales-Torres, Untitled (Aparición), 1991 (est. $600,000-800,000, realized $1.65 million). All images via Sothebys.com.

Tuesday evening’s auction of Contemporary Art at Sotheby’s New York brought in $128 million for forty-nine of fifty-eight lots sold. The sale’s estimate of $120.8-171.4 million included two lots that were withdrawn from the sale. Inclusive of the buyer’s premium, the night’s earnings barely passed the low presale estimate (prices realized include the buyer’s premium, estimates do not), and the results stood in stark contrast to Monday night’s sale at Sotheby’s of works from the collection of Allan Stone, which realized $54.8 million against a high estimate of $46.8 million. At the press conference auctioneer Tobias Meyer explained that estimates were “possibly aggressive” and that Sotheby’s had worked with sellers in reevaluating their expectations in response to the market, which in some cases meant lowering the reserve price. The sale’s top two lots – Sixteen Jackies by Andy Warhol and Jeff KoonsPink Panther – both fetched respectable prices despite the fact that they fell short of presale estimates.


Andy Warhol, Sixteen Jackies, 1964 (est. $20-30 million, realized $20.2 million)

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AO Onsite Auction Results – London: Christie’s Post-War and Contemporary Art Sale on Wednesday February 16, 2011 Realizes £61.4 million ($99.2 million); Warhol & Martial Raysse Are Top Lots

Wednesday, February 16th, 2011


Andy Warhol, Self Portrait, 1967 (est. £3-5 million, realized £10.8 million ), via Christies.com

Wednesday evening’s sale of Post-War and Contemporary art at Christie’s London brought in £61.4 million against a high estimate of £52 million for fifty-eight of sixty-three lots sold (a Tom Wesselmann painting was withdrawn). The auction had a sell through rate of 92% by lot and 98% by value, and, as was the case with Sotheby’s, the evening’s total was the highest realized for a Contemporary sale at Christie’s London since the market’s peak in June 2008. The auction house reported that they had over 160 registered telephone bidders with twenty-one countries represented. The top lot was Andy Warhol‘s red and white self portrait that sold for more than double its high presale estimate of £5 million after a bidding war between Jose Mugrabi and Larry Gagosian. Mr. Gagosian took the canvas home for £10.8 million (with fees).


The Warhol self portrait installed in the sale’s room at Christie’s London, via Art Observed

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AO Onsite Auction Results – London: Sotheby’s Contemporary Art Evening Auction on Tuesday, February 15, 2011 Raises £44.4 million ($71 million); Richter & Warhol Are Top Lots

Tuesday, February 15th, 2011


Gerhard Richter, Abstraktes Bild, 1990 (est. £5-7 million, realized £7.2 million ), via Sothebys.com

February’s Contemporary Art auctions began Tuesday night at Sotheby’s London. The auction house offered fifty-nine lots (a work by Anslem Kiefer was withdrawn) with a presale estimate of £30-43 million. The sale just beat its high estimate, raising £44.4 million with a 91.5% sell-through rate by lot and 95% by value. Sotheby’s noted that this is the strongest sell-through rate they’ve had in several seasons and that combined with the Contemporary offerings at the “Looking Closely” sale last week, the auction house has sold £88.2 million worth of Contemporary art in 2011 thusfar, making it the most successful Contemporary sales season at Sotheby’s London since July 2008.


Tobias Meyer standing in front of Andy Warhol‘s Marilyns at Sotheby’s London, via Art Observed

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AO Onsite Auction Results – London: “Looking Closely” Auction at Sotheby’s Brings in £93.5 million ($150.5 million) Against High Estimate of £54 million; Bacon Tryptic is Top Lot, Record Set for Dali

Thursday, February 10th, 2011


Francis Bacon, Three Studies for Portrait of Lucian Freud, 1964 (est. £7–9 million, realized £23 million), via Sothebys.com

This evening’s Sotheby’s 60-lot auction of works from the collection of Geneva-based collector George Kostalitz brought in an astounding £93.5 million against a high presale estimate of £54 million. All sixty works were sold, and lot after lot exceeded expectations during the most exciting of this week’s auctions. Fetching £23 million against a high estimate of £9 million, Francis Bacon’s Three Studies for Portrait of Lucian Freud was the top lot and is believed to have been bought by Cologne-based dealer Alex Lachmann.


Tobias Meyer conducting the “Looking Closely” auction at Sotheby’s London on Thursday evening, photo by Art Observed

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AO Onsite Auction Results – London: Impressionist & Modern Evening Sale and Art of the Surreal Sale at Christie’s London on Wednesday February 9, 2011 Bring in £84.9 million ($136.3 million); Record-Breaking Bonnard is Top Lot

Wednesday, February 9th, 2011


Pierre Bonnard, Terrasse à Vernon, 1923 (est. £3–4 million, realized £7.2 million ), via Christies.com

Christie’s London hosted two back-to-back sales on Wednesday evening that brought in a combined total of £84.9 million. The forty-five lot Impressionist and Modern sale realized £61.9 million for thirty-five lots sold. The estimate of £54-80 million for that auction included a Franz Marc painting that was withdrawn from the sale (it carried an estimate of £900,000-1.4 million). Thirty-one lots at the “Art of the Surreal” sale that immediately followed realized £23 million for twenty-five lots sold. Including a withdrawn De Chirico, the Surreal sale carried a presale estimate of £19-28 million. Bidding stopped at £5.8 million for a featured Gauguin painting (est. £7-10 million) that carried the highest presale estimate of any work offered at both sales. Instead, the evening’s top lot was a fresh-to-market Bonnard painting that broke the auction record for the artist when it sold for £7.2 million against a high presale estimate of £4 million. At the press conference the auction house revealed that the seller of the painting intended to use the proceeds to purchase land in France in order to “save horses.”


The sale room at Christie’s London on Wednesday evening, via Art Observed

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