Tuesday Auctions Sell Hundreds of Millions
New York -- Christie’s Evening Sale of Impressionist and Modern Art on Tuesday, May 6, realized $285,879,000.
Art collectors of Art Kabinett social media network were on hand to witness the stunning tally.
This marks the highest total for Christie’s New York in this category since May 2010.
Of the 53 works offered, 9 lots sold for over $10 million, 18 for over $5 million, and 43 for over $1 million.
The sale was led by works from distinguished private collections, including Monet’s Nymphéas from The Clark Family Treasures and Picasso’s Portrait de femme (Dora Maar) from the Viktor and Marianne Langen Collection.
Modigliani’s Jeune homme roux assis, for example, last sold in 2002 for $8,479,500. The 1919 work soared past its $8-12 million estimate, realizing $17,637,000.
Additionally, Giacometti’s extraordinary sculpture, Femme de Venise IV, which sold in 2000 for $2,820,686, achieved $12,709,000.
Works of different genres and time periods made it into the top 10 lots of the sale, representing a mix of classic Impressionist masters such as Renoir’s Jeunes filles jouant au volant painted in 1887, which sold for $11,365,000, to Miro’s Le serpent à coquelicots, painted in 1947, which sold for $12,485,000.
Eighty-seven percent of the works have not been at auction for at least ten years and 43% of works have never been offered at auction.
Dora Maar Exceeds $22 Million
Property from The Viktor and Marianne Langen Collection was 100% sold, achieving $79,829,000.
Picasso’s dramatic—and characteristically distorted—depiction of his mistress and muse, Dora Maar, realized $22,565,000, and led the group of nine lots. The painting had never been sold at auction previously.
Painted in 1942, Picasso’s relentless deconstructing and reconfiguring of Dora’s features in his depiction of her mysteriously intense but inscrutably impassive visage reflects the turbulence in Europe during the Second World War.
Clark and Bronfman Estates
Three Impressionist paintings from the Estate of Huguette M. Clark sold for a combined $40,927,000 this evening, led by the Monet Nymphéas, that has been in the Clark family for over 85 years.
Christie’s is entrusted with the sale of over 400 items from the Clark Family this spring by the Honorable Ethel J. Griffin, New York County’s Public Administrator, who oversees the estate, which benefits a charitable foundation devoted to arts and culture.
The sale also saw strong results from the Collection of Edgar J. Bronfman, the distinguished businessman, philanthropist, and diplomat, whose eight works in the Evening Sale totaled $21,174,000.
The collection was led by Picasso’s arcadian work from 1965, Mangeuse de pastèque et homme écrivant, which realized $8,005,000.
Huge Sotheby's Tally
Sotheby's once again delivered exceptional results on behalf of a great American institution, with Monet’s Sur la Falaise à Pourville selling for well over its high estimate to benefit the Acquisitions Fund of the Metropolitan Museum of Art.
Claude Monet’s Le Pont japonais sold for $15,845,000 to an Asian private collector. Alberto Giacometti’s La Place sold for $13,045,000 to another Asian.
The auction was led by three works emerging from a private American collection, which together achieved $57.1 million – surpassing their high estimate of $53 million.
Led by Picasso’s Le Sauvetage from 1932 that sold for $31,525,000 after a prolonged bidding battle, exceeding its high estimate of $18 million. Le Sauvetage last sold at auction in May 2004, when it fetched $14.8 million.
Three works by Claude Monet totaled $28 million, led by Le Pont japonais that sold for $15,845,000 to a private Asian collector. This occurred after a competition between four bidders for Monet’s Sur la Falaise à Pourville, sold on behalf of the Metropolitan Museum of Art, achieved $8,229,000.
Over the last 3 years, property from American museums has outperformed high estimates by a combined $100 million at Sotheby’s.
Following Sotheby’s enormously successful of works from the estate of Jan Krugier this February in London, eleven additional works from the estate, including pieces by Giacometti, fetched $32.9 million.