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    Georges Braque (1882-1963) Nature morte à la guitare (rideaux rouge) signed and dated 'G.Braque 38' is estimated at £3.5-£5.5 million. (click to enlarge) UPDATE: IT SOLD FOR £3.9 MILLION

    Hundreds of millions of pounds worth of Impressionist, Modern and Contemporary art will change hands in London this fortnight.  Two weeks of major art sales in London begin on  February 8.  It is anticipated that the market recovery will see more than £400m spent on art in the coming days

    Sotheby’s kick off with  with an evening sale of impressionist and modern art and continue into next week with contemporary works. Their 42-lot evening session is estimated at £55-£79 million.  This sale  includes the most expensive lot of the week, Picasso’s “La Lecture”. The high estimate of this portrait of his lover Marie-Thérèse dated 1932 is £18 million. Sotheby’s other evening sale, on Thursday, February 10, is a private collection estimated at £39-£55 million.
    At Christie’s there is an estimate of £73-£109 million for the the Impressionist and Modern  and the Art of the Surreal sales on February 9. This is the second highest pre-sale estimate for the February Impressionist sales at Christie’s in London. The highlight is Nature morte à “L’Espérance”, a still life painted by Paul Gauguin (1848-1903) in 1901 while he was living in Tahiti. It is expected to realise £7-£10 million. (See for January 7) The sale includes four works to be sold by the Art Institute of Chicago (two Picasso’s, a Braque and a Matisse), and will feature the artists Claude Monet, Edgar Degas and Fernand Léger.
    Self-portraits by Andy Warhol and Jean-Michel Basquiat will star in contemporary-art auctions in London set to raise at least 72.5 million pounds ($116 million).

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