{"id":30260,"date":"2018-06-22T12:40:19","date_gmt":"2018-06-22T16:40:19","guid":{"rendered":"https:\/\/rehs.com\/blog\/?p=30260"},"modified":"2023-12-11T07:04:13","modified_gmt":"2023-12-11T12:04:13","slug":"impressionist-modern-sothebys-london","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2018\/06\/impressionist-modern-sothebys-london\/","title":{"rendered":"Impressionist &amp; Modern &#8211; Sotheby&#8217;s London"},"content":{"rendered":"<div id=\"attachment_30263\" style=\"width: 133px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/Picasso-buste-de-femme-de-profil.jpeg\"><img decoding=\"async\" aria-describedby=\"caption-attachment-30263\" class=\"wp-image-30263 \" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/Picasso-buste-de-femme-de-profil-191x300.jpeg\" alt=\"image-Picasso-buste-de-femme-de-profil\" width=\"123\" height=\"193\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/Picasso-buste-de-femme-de-profil-191x300.jpeg 191w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/Picasso-buste-de-femme-de-profil.jpeg 362w\" sizes=\"(max-width: 123px) 100vw, 123px\" \/><\/a><p id=\"caption-attachment-30263\" class=\"wp-caption-text\">Picasso &#8220;Buste de femme de profil&#8221;<\/p><\/div>\n<p>Earlier this week over in London, Sotheby\u2019s offered up a selection of Impressionist and Modern works in a compact evening sale consisting of just 36 lots\u2026 let\u2019s just get it out of the way now as it is going to become apparent fairly quickly \u2013 the sale did not go well.<\/p>\n<div id=\"attachment_30261\" style=\"width: 228px\" class=\"wp-caption alignright\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/giacomett-le-chat.jpeg\"><img decoding=\"async\" aria-describedby=\"caption-attachment-30261\" class=\"wp-image-30261 \" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/giacomett-le-chat-300x217.jpeg\" alt=\"image-giacomett-le-chat\" width=\"218\" height=\"158\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/giacomett-le-chat-300x217.jpeg 300w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/giacomett-le-chat.jpeg 570w\" sizes=\"(max-width: 218px) 100vw, 218px\" \/><\/a><p id=\"caption-attachment-30261\" class=\"wp-caption-text\">Giacometti &#8220;Le Chat&#8221;<\/p><\/div>\n<p>Taking the top spot on the night was Picasso\u2019s\u00a0<em>Buste de femme de\u00a0profil\u00a0(Femme\u00a0ecrivant)<\/em>, which came in with an irrevocable 3rd party guarantee\u2026\u00a0the work sold on a single bid (likely to the guarantor) for just \u00a327.3M ($36M), which was well short of Sotheby\u2019s unpublished \u00a334M ($45M) estimate. In a distant second was a wiry bronze cat by Giacometti \u2013 this is an interesting one \u2013 the work last sold not too long ago in 2010 for $21M\u2026\u00a0the same work was set to be auctioned this past May in New York but was withdrawn from the sale and carried a $20M estimate \u2013 so the owner already knew he wasn\u2019t going to get his money out of this one, though I\u2019m not sure he expected things to go the way they did. This time around, with an unpublished estimate, the work found a buyer at just \u00a312.6M ($16.7M including premiums)\u2026\u00a0that\u2019s rough. Rounding out the top three was another underperformer\u2026\u00a0Monet\u2019s\u00a0<em>La Mediterranee par vent de\u00a0mistral<\/em>, expected to bring between \u00a36.5-8.5M, hammered at \u00a36.3M\u2026\u00a0once you factor in the premium, that bumps the lot to \u00a37.1M but still relatively disappointing for one of the top lots in the sale\u2026\u00a0Even the 4<sup>th<\/sup> highest lot of the evening fell short \u2013 Picasso\u2019s\u00a0<em>Le peintre et son modele<\/em>\u00a0sold for\u00a0just\u00a0\u00a36.4M with premium ($8.5M) though it was projected to sell between \u00a37.5-9.5M.<\/p>\n<div id=\"attachment_30262\" style=\"width: 191px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/L18006_Monet_-la_mediterranee_par_vent_de_mistral_-_1888.jpeg\"><img decoding=\"async\" aria-describedby=\"caption-attachment-30262\" class=\"wp-image-30262 \" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/L18006_Monet_-la_mediterranee_par_vent_de_mistral_-_1888-300x211.jpeg\" alt=\"image-la_mediterranee_par_vent_de_mistral_\" width=\"181\" height=\"127\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/L18006_Monet_-la_mediterranee_par_vent_de_mistral_-_1888-300x211.jpeg 300w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/L18006_Monet_-la_mediterranee_par_vent_de_mistral_-_1888-768x540.jpeg 768w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/06\/L18006_Monet_-la_mediterranee_par_vent_de_mistral_-_1888.jpeg 800w\" sizes=\"(max-width: 181px) 100vw, 181px\" \/><\/a><p id=\"caption-attachment-30262\" class=\"wp-caption-text\">Monet &#8220;La Mediterranee par vent de mistral&#8221;<\/p><\/div>\n<p>As I\u2019m sure you can imagine from these results alone, the sale was uninspiring. To make matters worse, 10 of the 36 lots failed to sell (72% sell-through rate), so it was a pretty tough evening. The remaining 26 lots that found buyers yielded a total of \u00a387.5M ($115.7M) which was quite a bit short of the expected take of \u00a399.7-124.6M\u2026\u00a0and when\u00a0we\u2019re reminded\u00a0that the sale total includes premiums, and the estimate range does not, it\u00a0really\u00a0drives home the fact that this sale performed pretty miserably. Just for the sake of comparison, the same\u00a0sale\u00a0in 2017 brought in \u00a3128M with 17 lots, and in 2016 they brought in \u00a3103M on 24 lots.\u00a0 Let\u2019s hope the London trend turns around quickly.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this week over in London, Sotheby\u2019s offered up a selection of Impressionist and Modern works in a compact evening sale consisting of just 36 lots\u2026 let\u2019s just get it out of the way now as it is going to &hellip; <a href=\"https:\/\/rehs.com\/eng\/2018\/06\/impressionist-modern-sothebys-london\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":5,"featured_media":30262,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[207,20,88,120,9],"class_list":["post-30260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-auction-news","tag-auction-results","tag-french-impressionist","tag-modern-art","tag-rehs-galleries-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Impressionist &amp; 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