LONDON.- Sothebys series Impressionist and Modern Art sales concluded yesterday, having realised £129,530,507 ($255,072,281) almost exactly the combined high estimate for the series (£93.5 132.8 million) and the highest total for any June series of sales of Impressionist and Modern Art held by the company.
Melanie Clore, Co-Chairman of Sothebys Impressionist and Modern Art department worldwide, said: The tremendous success of this weeks sales was underpinned by strong, informed bidding from an international pool of buyers. Iconic works of exceptional quality which were fresh to the market triumphed, with an unprecedentedly high proportion of the lots offered finding buyers. In the evening sale on Wednesday, 56% of the lots sold realised prices in excess of their pre-sale estimates. All of which testifies to the extraordinary dynamism and strength of the current market.
New benchmarks were set:
Gino Severinis Danseuse, of 1915, made £15,049,250 (US$29,615,419) seven times the previous record for a work by the artist ($3.6/£2.17 million at Sothebys New York in 1990), and establishing a new record for any Futurist work ever sold at auction. Having once hung in the Solomon R. Guggenheim Museum in New York, this museum-quality work attracted bids from no fewer than five prospective buyers.
Helena Newman, Vice Chairman of Sothebys Impressionist & Modern Art Department worldwide, explained: The exceptional price for Severinis Danseuse follows in the wake of other similar successes at Sothebys (for artists such as Franz Marc, Alexej von Jawlensky, Lionel Feininger and Chaïm Soutine), whereby new benchmark levels have been set for top Modernist works, catapulting them from the national context in which they were previously seen into the broader international arena.
Alberto Giacomettis multiple-figure bronze Trois hommes qui marchent I (1948) sold for £9,449,250 (US$18,595,179) double the pre-sale estimate of £4,000,000-6,000,000 and a record for any 20th -century sculpture sold at auction in Europe.
In the evening sale on Wednesday, more lots found buyers than ever before in a various owner sale of Impressionist and Modern Art in London: over 90% of lots found buyers (ie. 50 out of 55).
The Impressionist & Modern Works on Paper Sale made £8.9 million - the highest total for any such sale ever held by the company in Europe.
Works from the Collection of Haaken A. Christensen - sold to benefit Médecins sans Frontières soared:
The Impressionist and Modern Art sales included 17 works from the collection of Haaken A. Christensen (1924-2008), one of Norways most influential art connoisseurs and dealers. Proceeds from the sale of these, and other works from Christensens collection, will benefit Médecins Sans Frontières (MSF) one of the worlds leading international humanitarian aid organisations, providing emergency medical assistance to populations in danger in more than 60 countries. Works from the Christensen collection were hotly contested, realising a combined total of £14,772,350 against an estimate of £6,683,000 10,070,000. The majority of the works in the collection soared over estimate:
Tête de femme (Dora Maar) made £7,881,250 (US$ US$15,509,512) against an estimate of £3,000,000-5,000,000
Picassos LHomme au maillot rayé of 1956. Sold for £ 1,833,250 / US$ 3,607,653 (est: £900,000-1,200,000)
Femme au chapeau assise. Buste of 1962 made £1,777,250 (US$3,497,450) against an estimate of £700,000-900,000
Picassos Nature morte au poron of 1948, which made £1,049,250 (US$2,064,819) against an estimate of £600,000-800,000
Works on paper: Eight works on paper from the Christensen collection realised a combined total of £1,195,600 against a pre-sale estimate for the group of £750,000 - £1,100,000. Two of the standout pieces were La Parade (lot 135), which sold for £ 289,000 (est: £100,000-150,000), and Le Peintre et son Modèle (lot 136), which realised £211,250 (est: 120,000-180,000).
Further works from the Christensen collection will be offered in Sothebys Contemporary Day Sale (July 2nd) and Sothebys Prints sale (October 08)
Other works that performed particularly well:
Claude Monets La Plage à Trouville of 1870 - a lively, iconic beach scene from a key moment in Monets early career - made £7,657,250 (US$15,068,702).
Picassos Mousquetaire. Buste of 1968, made £5,529,250 (US$10,881,011).
Cézannes Verre et Poires, (1879-80) sold for £4,073,250 / US$8,015,749 (est: £2,500,000-3,500,000).
Two works by Paul Gauguin attracted strong competition: Deux vases de fleurs et un eventail of 1885 made £2,841,250 (est: £1,500,000-2,000,000); while Tête de Tahitienne of 1891 made £2,841,000 against an estimate of £1,000,000 1,500,000.
Chaïm Soutines La Jeune Polonaise soared above estimate, realising £2,169,250 / US$ $4,268,867 (est: £650,000-850,000) - nine times more than the sum made by the same work in 2003 ($455,500).
Albert Marquet's La Plage de Sainte-Adresse sold for a record £1,217,250 more than three times its top estimate of £600,000.
Artists records established this week at Sothebys:
1. Gino Severini
Danseuse
Sold for: £15,049,250 (Est: £7,000,000 10,000,000)
ALSO A RECORD FOR ANY FUTURIST WORK OF ART SOLD AT AUCTION
(Previous record: Giacomo Balla, La Scala degli Addii (Salutando), SNY 1990 - £2.61 million)
2. Albert Marquet
La Plage de Sainte-Adresse
Sold for: £ 1,217,250 (Est:£400,0000- 600,000)
3. Gustav Klimt
Liefender Madchenakt Nach Links
Sold for: £505,250 (Est: £100,000- 150,000) RECORD FOR A WORK ON PAPER BY THE ARTIST
4. Louis Anquetin
La Femme À L'ombrelle
Sold for: £421,250 (Est: £350,000-450,000)
5. Amédée Ozenfant
Le Pichet Blanc
Sold for: £397,250 (Est: £200,000-300,000)
Statistics for the Impressionist & Modern Art Evening sale:
Average lot value: £2.04 million
5 lots (10%) sold for over £5 million
10 lots (20%) sold for over $5 million
25 lots (50%) sold for over £1 million
45 lots (90%) sold for over $1 million
56% of lots sold achieved prices in excess of high estimate - the highest such percentage for a June Impressionist and Modern Art sale
High sale rates both by lot and by value:
over 90% sold by lot (of the 55 lots offered, only 5 failed to sell); 94% sold by value
Around 600 people attended the sale
High crossover with Contemporary buyers: 68% of the lots sold in the Impressionist & Modern Evening sale were bought by buyers also active in Sothebys Contemporary Sales
High crossover with buyers in Sothebys Russian sales: 28% of the lots sold in the Evening sale were bought by buyers also active in Sothebys Russian sales.