Pablo Picasso, Femme Assise, Robe Bleue, 1939 (est. $6.4-13 million, realized $29 million), via Christies.com
Christie’s marathon evening sale of Impressionist and Modern art in London on Tuesday evening realized $227 million for 80 lots sold. The sum fell comfortably within presale estimates of $186-265 million despite the fact that the top lot, Monet’s Nymphéas, failed to sell against a high estimate $40 million. The auction included several lots from the estate of Ernst Beyeler, the late Swiss dealer and co-founder of Art Basel. The sale began with Mr. Beyeler’s 17th century walnut & fruitwood desk, which sold for nearly half a million dollars against a high estimate of $20,000. The evening’s top lot did not come directly from the Beyeler estate, though its provenance includes a pass through the Galerie Beyeler. Picasso‘s Femme Assise, Robe Bleue carried a high estimate of $13 million but sold for $29 million, allegedly to Greek financier Dimitri Mavrommatis. The painting of Picasso’s lover, Dora Maar, belonged to renowned art dealer Paul Rosenberg and was confiscated by the Nazis in 1940. It was eventually seized by the French Resistance and restituted by the Commission de Récuperation. Pittsburgh collector G. David Thompson acquired the work from Rosenberg and sold it to the Galerie Beyeler at a 1966 sale at Sotheby’s Parke Bernet. Tuesday night’s selling party bought the painting from the Galerie Beyeler two years later.
Pablo Picasso, Jeune Fille Endormie, 1935 (est. $14.5-19.3 million, realized $21 million), via Christies.com
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