{"id":40217,"date":"2020-07-29T15:18:12","date_gmt":"2020-07-29T19:18:12","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=40217"},"modified":"2024-03-29T07:35:49","modified_gmt":"2024-03-29T11:35:49","slug":"sothebys-impressionist-modern-evening-online-pt-3","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2020\/07\/sothebys-impressionist-modern-evening-online-pt-3\/","title":{"rendered":"Sotheby’s Impressionist & Modern Evening – Online pt 3"},"content":{"rendered":"
\"Pablo<\/a>

Pablo Picasso – Tete de Femme Endormie<\/p><\/div>\n

Wrapping up the three-part evening, Sotheby\u2019s offered up a modest selection of Impressionist & Modern works; we were expecting 32 lots to be offered, but only 26 materialized, as 6 lots were withdrawn \u2013 that\u2019s nearly 20% of the sale!<\/p>\n

\"Wifredo<\/a>

Wifredo Lam – Omi Obini<\/p><\/div>\n

That said, things got off to a hot start with 8 of the first 10 lots topping the high end of their estimate. After that, things took a turn for the worse with most of the sold lots selling below their estimate range (not to mention all the BIs or withdrawals). The high for the evening came at lot 14, but it was guaranteed with an irrevocable bid prior to the sale \u2013 Picasso\u2019s T<\/em>\u00eate de Femme Endormie<\/em>. The work, which has been in private hands since 1962, hammered inside its expected range at $9.6M ($11.2 w\/p) on a $9-12M estimate. Taking second was Wifredo Lam\u2019s Omi Obini <\/em>(lot 8) which was expected to bring between $8-12M and just made the mark as it hammered at $8.2M ($9.6M w\/p). Rounding out the top lots we had a work by Remedios Varo (lot 4), which impressively topped it\u2019s estimate of $2-3M, when it hammered at $5.2M ($6.1M w\/p)\u2026 that work last sold in 1988 through Christie\u2019s in New York \u2013 there was no estimate provided but made an impressive $385K (I cannot be certain, but that appears to have been an auction record for the artist at that time)\u2026 this time around, it was definitely an auction record for the artist.<\/p>\n

\"Remedios<\/a>

Remedios Varo – Armonia<\/p><\/div>\n

There were not many overly impressive results\u2026 just one lot really. A work by Frida Kahlo, estimated at just $400-600K, sparked a bit of a bidding war which saw the work climb to a $2.2M hammer ($2.6M w\/p). The handful of unsold lots included works by Tamayo ($1.2-1.8M), Chagall ($3-4M), Giacometti ($2.8-3.5M), and Buffet ($800K-1.2M)\u2026 accounting for 15% of the sale (4 of 26 works).<\/p>\n

The 22 sold lots (85%) totaled $53.6M before you add in the premiums\u2026 the sale estimate was $55.8-77.6, so they were a bit short \u2013 add in the premiums and that bumps it to $62.7M, so that feels a bit better but not what you\u2019d expect for an evening sale\u2026 Between the three sales, the evening saw a grand total of $363M including the premiums and they were expecting between $262.7-368.3M, so really not too bad when all was said and done, especially given the current situation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wrapping up the three-part evening, Sotheby\u2019s offered up a modest selection of Impressionist & Modern works; we were expecting 32 lots to be offered, but only 26 materialized, as 6 lots were withdrawn \u2013 that\u2019s nearly 20% of the sale! … More…<\/a><\/p>\n","protected":false},"author":5,"featured_media":40219,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[207,20,71,120],"class_list":["post-40217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-auction-news","tag-auction-results","tag-impressionism","tag-modern-art"],"yoast_head":"\nSotheby\u2019s Impressionist & Modern Evening \u2013 Online Pt 3<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2020\/07\/sothebys-impressionist-modern-evening-online-pt-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sotheby's Impressionist & Modern Evening - Online pt 3\" \/>\n<meta property=\"og:description\" content=\"Wrapping up the three-part evening, Sotheby\u2019s offered up a modest selection of Impressionist & Modern works; we were expecting 32 lots to be offered, but only 26 materialized, as 6 lots were withdrawn \u2013 that\u2019s nearly 20% of the sale! 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