Joan Miró, Peinture (Étoile Bleue) (1927)

Tonight in London begins three consecutive weeks of auctions – commencing with the Impressionist and Modern Sales this week. An upwards of £ 500 million in sales is expected from Impressionist, Modern, and Contemporary Art. This week alone is expected to fetch in excess of £ 159 million between the two major houses. Although New York is generally deemed the art auction capital, London’s geographic positioning is advantageous to the billionaire collectors of Russia and the Eastern world. Based upon the record breaking sales held this past May in New York – namely the $120 million paid for Munch‘s The Scream – London’s summer auctions are hoped to follow suit.

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