Property from a Private American Collection Drives Sotheby’s Evening Sale of Impressionist & Modern Art to $219 Million Our Coverage Sponsored by Stribling and Associates
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Asian Collectors Contribute 30% of the Auction Total
Picasso’s Le Sauvetage Achieves $31.5 Million
– More than Double Its Price at Sotheby’s in 2004 –
Marking the Top Lot of the Week
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Additional Property from the Estate of Jan Krugier
Totals $32.9 Million
Simon Shaw, Co-Head of Sotheby’s Worldwide Impressionist & Modern Art Department, commented: “A key factor in tonight’s successes was our longstanding relationships with top collectors, and our partnership with them throughout the sale process – the three works from the Private American Collection that led our sale, Monet’s Le Pont japonais, and more were non-competitive consignments. It was a privilege to offer Picasso’s spectacular Le Sauvetage exactly a decade after we last auctioned it in New York, and we are thrilled to see its price double in that time. We are pleased to once again deliver 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.”
- The impact of significant bidding and buying from Asian collectors was felt throughout the sale, with eight lots purchased by Asian collectors for a total of $63.9 million – nearly 30% of the auction total
o Henri Matisse’s La Séance du matin sold for $19,205,000 to an Asian Private Collector
o Claude Monet’s Le Pont japonais sold for $15,845,000 to an Asian Private Collector
o Alberto Giacometti’s La Place sold for $13,045,000 to an Asian Private Collector
- 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
o Led by Picasso’s Le Sauvetage from 1932 that sold for $31,525,000 after a prolonged bidding battle, soaring over its high estimate of $18 million
§ Le Sauvetage last sold at auction at Sotheby’s New York a decade ago, 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 after a competition between four bidders
o Monet’s Sur la Falaise à Pourville, sold to benefit the Acquisitions Fund of the Metropolitan Museum of Art, achieved $8,229,000, surpassing its high estimate of $7 million
o 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, 11 additional works from the estate achieved $32.9 million in tonight’s sale – in excess of their $26.8 million high estimate
o Led by Alberto Giacometti’s Femme de Venise V, which achieved $8,789,000 (est. $6/8 million)
- All five works by Alberto Giacometti on offer in the auction were sold, for a total of $35.1 million
o Led by La Place, Giacometti’s very first multi-figural sculpture, which brought $13,045,000 (est. $12/18 million)
o Tonight’s offering follows Sotheby’s sale of Grande tête mince (Grande tête de Diego) in November of last year for $50 million –the top Impressionist & Modern lot of 2013 worldwide
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Sotheby’s has been uniting collectors with world-class works of art since 1744. Sotheby’s became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) andFrance (2001), and the first international fine art auction house in China (2012). Today, Sotheby’s presents auctions in eight different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby’s BidNow program allows visitors to view all auctions live online and place bids in real-time from anywhere in the world. Sotheby’s offers collectors the resources of Sotheby’s Financial Services, the world’s only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby’s Contemporary Art department, as well as Sotheby’s Diamonds and Sotheby’s Wine. Sotheby’s has aglobal network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).
*Estimates do not include buyer’s premium and prices achieved include the hammer price plus buyer’s premium.
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