5 East 57th Street, 8th floor, New York, NY 10022
T: 212 355 5710 F: 212 355 5742
  • T: 212 355 5710 F: 212 355 5742 Home     Back
  • Bidders move fast for Modern sculptures at Sotheby’s New York

    May 17, 2017
    Malevich

    Malevich

    Another “test” of the art market took place last night.  I say “test” because I do not believe that these specific sales can really give you a complete understanding of the art market’s health.  All they tell you is … were the works being offered of interest to one individual or a broader market.

    The sale started off with a bit of a downer when it was announced that their start lot was withdrawn right before the sale:  Danaë – Egon Schiele’s first oil painting of a nude woman (est. $30-$40M).  Rumor are that since there was no pre-sale interest the owner decided not to let it BI (buy in).  So, it was left to a tiny work by Kazirmir Malevich, Suprematist Composition with Plane in Projection, to take the top spot … and it did at $21.2M (est. $12-18M).

    In the end, of the 50 works offered, 37 sold (74%) and the total take was $173.8M (est. $147-210.4M).  News reports state the sale fell comfortably within its estimate range; however, it is important to remember that the estimate range does not include the buyer’s premium, while the sale’s total does.

    We will give you a more complete review of the sales in our upcoming Comments on the Art Market.

    Source: Bidders move fast for Modern sculptures at Sotheby’s New York

     

     

  • MORE ARTICLES

  • Our Next Event

  • Artist Advice

  • RECENTLY ADDED