NEW YORK, NY.- The two-day sale of Latin American Art at Sotheby’s brought $20,263,126. This sale brings the total for Latin American Art at Sotheby’s in 2008 to $48,404,725, the highest total at Sotheby’s since Sotheby’s started sales in the category in 1979. The highlight of the sale was Rufino Tamayo’s impressive mural, entitled America, which sold to applause to a Private Collector on the phone for $6,802,500. A total of 15 artist records at auction were set in the twoday sale, including Remedios Varo, Carlos Cruz-Diez, Cildo Meireles, Thomas Jacques Somerscales, Dr. Atl (Gerardo Murillo), Eduardo Kingman and Fernando de Szyszlo.

Carmen Melián, Head of the Latin American Department at Sotheby’s, said, “I am very pleased with the results of this sale, particularly in light of the economic climate. The sale of America broke Sotheby’s record for a Latin American work of art at auction, surpassing Frida Kahlo’s Roots, which brought $5,616,000 in May of 2006. We are also delighted with the great results of our three most expensive lots, which sold with spirited bidding from all over the world. We saw strong interest for a wonderful section of abstract works from the 1960s and for 19th century landscapes, including a record-breaking work by Thomas Jacques Somerscales, and what must be a record for a Cuban colonial piece of furniture at $134,500 (lot 65).”

Melián continued, “In today’s day session, there was spirited bidding in a packed sales room, culminating in eight artist records at auction, including artists of great historical importance, such as Eduardo Kingman and Fernando de Szyszlo. In these challenging times, it is heartening to see true collectors following their passion.”

Rufino Tamayo’s America (lot 12), which brought $6,802,500, was originally commissioned in 1955 for the Bank of the Southwest in Houston. This work is one of five Tamayo murals which have been commissioned in the United States and is the only one held in private hands.

An artist record was set for Remedios Varo, when Planta Insumisa (Unsubmissive Plant), lot 27, brought $1,426,500. Executed in 1961, it reveals Varo’s life-long fascination with science and nature.

Constructif avec Rythme Dentelé, by Joaquín Torres-García, the cover of the sale catalogue and lot 21 of the sale, sold to a bidder in the room for $842,500; and lot 16, Costruzione Geometrica, from 1929, also by Torres-García, brought applause when it achieved $398,500, a record for a work executed by the artist during the 1920s.

A record was achieved for a work by Carlos Cruz-Diez at auction when Fisicromia, lot 40, sold for $254,500. The previous record, $205,000 was set at Sotheby’s New York in May of this year for Physichromie No.743. Another work by Cruz-Diez, lot 44, Physichromie No.574, brought $146,500, well above its pre-sale estimate of $40/60,000.

View of the Port and Bay of Valparaiso, Chile, lot 67, by Thomas Jacques Somerscales, sold for many times its pre-sale estimate, bringing $254,500 after an extended period of bidding (est. $50/70,000) and setting a record for the artist at auction. This doubled the artist’s previous auction record of $116,949 for Full Sails, which sold at Sotheby’s London in May of 2000.

Another artist record was set for Dr. Atl (Gerardo Murillo), when Autorretrato, lot 70, brought $314,500. Two records for a medium by an artist were set for a work on paper by Emiliano di Cavalcanti, whose Mulatas (Double-Sided Drawing), lot 15, brought $134,500; and for a sculpture by Francisco Toledo, whose Lagarto, lot 22, fetched $98,500.