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What Does a Billion Dollars of Art Look Like?
Sotheby’s New York Sales achieved $1.2 billion in the third-highest marquee week of the auction house’s history.
T here’s the $139 million 168开奖官方开奖网站查询:portrait of Marie-Thérèse Walter that Pablo Picasso painted in 1932, his single most pivotal year. There’s the $42 million 168开奖官方开奖网站查询:self-portrait by Jean-Michel Basqui𒐪at, one of only a few paintings in which the artist identified the subject as himself. There’s Claude Monet’s luminous, $30.8 million 168开奖官方开奖网站查询:landscape of the river Epte that prefaces his defining Nymphéas series. And there’s Jenny Saville’s 168开奖官方开奖网站查询:seminal portrait of six nude women that hailed a ♎new generation of figurative painters when it was first exhibited in 1997 and commanded $10.9 million when it was sold at auction earlier this week.
Those are just four of the 729 objects sold at Sotheby’s this week. With six items selling over $30 million, twelve over $20 million and twenty-seven over $10 million, the average lot price reached $7.6 million, up 21% over this May. All told, eight auctions realized a combined total of $1.2 billion – a 34% increase over last November’s sales. It was the first 168开奖官方开奖网站查询:billion-dollar week since May 2022 and the t🍷hird-highest marquee week total in the auction house’s 279-year history.
The New York Sales at a Glance
- $425M
- $334M
- $296M
- $55M
- $52M
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The Emily Fisher Landau CollectionAcross two auctions, Emily Fisher Landau’s extraordinary collection achieved $424.7 million, becoming the most valuable auctions devoted to a woman collector. The $406.4 million evening auction was led by Pablo Picasso’s 168开奖官方开奖网站查询:Femme à la montre ($139.4 million). -
Contemporary ArtTwo contemporary art auctions realized a total of $333.6 million ($250.5 in Evening, $83.1 in Day). The 309 works were led by Jean-Michel Basquiat’s 168开奖官方开奖网站查询:Self-Portrait as a Heel (Part Two) ($42 million).
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Modern ArtThe Modern Evening and Day Auctions achieved $233.4 million and $62.5 million, respectively. Across, 290 works of art were led by Claude Monet’s 168开奖官方开奖网站查询:Peupliers au bord de l’Epte, temps couvert ($30.8 million).
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The Now Evening AuctionThe white-glove sale of The Now Evening Auction saw 18 artworks sell for $55.2 million, led by Jenny Saville’s 168开奖官方开奖网站查询:Shift ($10.9 million).
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The One—1962 Ferrari GTOThe only GTO Tipo 1962 raced by the Scuderia Ferrari sold for $51.7 million in a single-lot auction – a record for Ferrari.
The marquee series began with two auctions dedicated to the storied collector 168开奖官方开奖网站查询:Emily Fisher Landau, which saw 111 works sell; the average lot value in the Evening Auction was $13 million. With a total of $424.7 million, The Emily Fisher Landau Collection became the most valuable 🌊auction devoted to a woman c💖ollector and one of the most valuable single-owner collections ever offered. The leading painting was Picasso’s 168开奖官方开奖网站查询:Femme à la montre, which, at $139.4 million, became the artist’s second-highest work at auction and the most valuable work of art sold at auction♊ this year.
The next week saw five various-owner auctions, beginning with 168开奖官方开奖网站查询:The Modern Evening Auction on Monday, led by Monet’s riverscape and 168开奖官方开奖网站查询:Le Moulin de Limetz ($25.6 mill༺ion). One of two Monets to top $25 million, the painting made its auction debut after spending 131 years in the collection of Bertha and Potter Palmer, who helped establish the Art Institute of Chicago as one of the greatest collections of Imp🍌ressionist art in America.
Thirty additional lots brought the evening’s total to $223.4 million, with highlights including an auction record for a work-on-paper by Mark Rothko (168开奖官方开奖网站查询:Untitled, $23.9 million) and for any work by Hedda Sterne (168开奖官方开奖网站查询:Road #7, $818,000). Additional auction records were set in the 259-lot, $62.5 million 168开奖官方开奖网站查询:Modern Day Auction for a Latin American print (Frida Kahlo’s 168开奖官方开奖网站查询:The Miscarriage, $508,000) and Chico da Silva (168开奖官方开奖网站查询:Serpente da Serra luminous, $330,200).
Wednesday night’s double feature kicked off with the highly anticipated 168开奖官方开奖网站查询:Now Evening Auction. Saville’s painting was one of three works to top $10 million, along with Julie Mehretu’s ode to resiliency, 168开奖官方开奖网站查询:Walkers with the Dawn and Morning ($10.8 million), and Kerry James Marshall’s incisive critique of suburbia and art history, 168开奖官方开奖网站查询:Plunge ($10.3 million). Emerging auctioneer Phyllisꦅ Kao received thunderous applause as she was handed a pair of white gloves at the end of the thrilling hour, marking the impressive achievement for her first evening sale.
Head auctioneer Oliver Barker then took the rostrum for 168开奖官方开奖网站查询:The Contemporary Evening Auction, which saw 43 lots sell for a combined $250.5 million. Basquiat’s self-portrait was followed by Gerhard Richter’s monumental 168开奖官方开奖网站查询:Abstraktes Bild ($31.9 million), then by Joan Mitchell’s 168开奖官方开奖网站查询:Sunflowers ($27.9 million) from the collection of gallerist John ❀Cheim.
Across the two-auction evening, nine works sold for over $10 million and 50% of the lots sold above their high estimates. Work by women artists accounted for a quarter of the evening’s total sale value and 45% of The Now Evening Auction’s. Numerous auction records were set across the two sales, including Mehretu’s painting for both an African-born artist and a Black woman artist, as well as new artist benchmarks for 168开奖官方开奖网站查询:Barkley L. Hendricks ($8.4 million), 168开奖官方开奖网站查询:Ad Reinhardt ($3.6 million), 168开奖官方开奖网站查询:Robert Gober & Sherri Levine ($990,600), 168开奖官方开奖网站查询:Amy Sillman ($984,250), 168开奖官方开奖网站查询:Mohammed Sami ($952,500), 168开奖官方开奖网站查询:Barbara Chase-Riboud ($647,700), 168开奖官方开奖网站查询:Marina Perez Simão ($422,000) and 168开奖官方开奖网站查询:Oscar yi Hou ($95,250).
Top 10 Lots from The New York Sales
By the evening’s end, Sotheby’s established over 35 auction records and sold over a billion dollars of art – but the week wasn’t over yet. The 266-lot 168开奖官方开奖网站查询:Contemporary Day Auction achieved $83 million on Thursday. An eighth auction earlier this week saw a sell for $51.7 million – an auction record for Ferrari and🐈 the second-highest price fo꧙r any car at auction.
