Picasso’s Femme assise 1949 was the top lot at Christie’s Impressionist and Modern Art evening sale in London on June 20. It made £8,553,250 in an auction which realised £92.5 million. This figure excludes Renoir’s Baigneuse. It had been estimated at £12-18 million but was sold privately before the auction for a price that was within the estimate. The price is not included in the overall results.
Jay Vincze, International Director and Head of The Impressionist and Modern sale commented: “Quality, rarity and considered pricing were key to the successful results of this evening’s sale. Nearly every one of the top 10 lots was offered on the open market for the first time in 20 years or more, and in some cases for the first time in up to three generations; these stellar opportunities, coupled with intelligent estimates, attracted determined bidding. There were particularly notable prices for Surrealist works”.
In total 27 works of art sold for over £1 million and 36 for over $1 million. There were artist records for Giorgio Morandi and Kurt Schwitters. (See post on antiquesandartireland.com for May 31, 2012).
UPDATE: Christie’s combined sales of Impressionist and Modern Art in London this week brought in £115,225,300.
Pablo Picasso (1881-1973)
Femme assise made £8,553,250 and was the top lot in the auction. Image courtesy Christie’s Images Ltd. (Click to enlarge).
Giorgio Morandi (1890-1964)
Natura morta made £1,385,250 a world record for the artist at auction. Image courtesy Christie’s Images Ltd. (Click to enlarge).
Kurt Schwitters (1887-1948)
Merzbild 9A Bild mit Damestein (L Merzbild L5) executed in 1919 made £1,273,250, a world record for the artist at auction. Image courtesy Christie’s Images Ltd. (Click to enlarge).