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Sotheby’s art sale totals $195 million

New York, May 11, 2010

Sotheby’s, the global company dealing in art auction and sales, raised a total of $195.7 million at its spring evening sale of impressionist and modern art in New York.

Forty-three works achieved prices over $1 million, ten works exceeded $5 million, four works brought prices over $10 million, and two works sold for over $15 million.  The sale was 87.7 per cent sold by lot and 92.4 per cent sold by value.

“Tonight’s sale result of $195.7 million was close to the high estimate, and it was wonderful to see things moving in the right direction,” said Simon Shaw, head of Sotheby’s impressionist and modern art department in New York.

“We saw very vigorous and spirited bidding and achieved a total that surpassed that of November and tripled the results achieved in May 2009,” he added.

Emmanuel Di Donna, vice chairman of Sotheby’s impressionist & modern art department worldwide, said: “We witnessed a quest for quality this evening.”

“This was especially evident in the sale of  Modigliani’s Jeanne Hébuterne au collier, believed to be the very first portrait of Modigliani’s future wife and muse; the Matisse’s Bouquet pour le quatorze juillet,  a still life of considerable color and scale; and Rodin’s Penseur, a rare lifetime cast with a fully documented provenance.”

“What was also notable was the depth of spirited bidding, illustrated by multiple bidders on many lots from clients who came from all over the world,” Di Donna added.

Tobias Meyer, worldwide head of contemporary art and the auctioneer noted: “The activity in tonight’s salesroom showed that art is globally desired.”

The sale was led by Henri Matisse’s Bouquet pour le quatorze juillet, which climbed to $28,642,500.

Amedeo Modigliani’s beautiful Jeanne Hébuterne au collier, circa 1916-17, which had not appeared at auction in nearly 70 years, was also hotly contested in a battle and purchased by a Japanese private collector for $13,802,500.

Demand for classic Impressionist pictures remained strong, with Monet’s 1890 landscape Effet de printemps à Giverny climbing to $15,202,500.  Also by Monet, Fin d’après-midi, Vétheuil, 1880, brought $6,242,500.

The first lot of the sale, Le Jardin d’Octave Mirbeau à Dampes (Eure), 1892, by Camille Pissarro climbed to $2,658,500, selling to a European private collector.

Auguste Rodin’s iconic sculpture Le Penseur (conceived 1880-81) totaled $11,842,500 after a lengthy three-way battle.

Picasso’s Femme au grand chapeau, buste, 1965, was among the stars of the evening, bringing $9,322,500, while his 1961 iron sculpture entitled Tête de femme rose to $3,666,500 and his oil on paper Buste de femme, 1940, totaled $1,594,500.

Two artist records were set: Isamu Noguchi’s Undine (Nadja) soared to $4,226,500 and Salvador Dalí’s Spectre du soir sur la plage totaled $5,682,500. - TradeArabia News Service




Tags: New York | Auction | Sotheby’s | Modern Art | Impressionist |

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