{"id":41580,"date":"2021-03-29T13:51:48","date_gmt":"2021-03-29T17:51:48","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=41580"},"modified":"2024-01-05T06:46:45","modified_gmt":"2024-01-05T11:46:45","slug":"more-auction-action-impressionist-modern-paris","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2021\/03\/more-auction-action-impressionist-modern-paris\/","title":{"rendered":"More Auction Action \u2013 Impressionist &#038; Modern, Paris"},"content":{"rendered":"<p>On the 25th, Sotheby&#8217;s, Paris, presented a curated group of Impressionist and Modern works of art and the results were pretty good. (all final prices, unless otherwise noted, include the buyer&#8217;s premium; estimates do not)<\/p>\n<div id=\"attachment_41585\" style=\"width: 238px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/Scene_de_Rue_a_Montmartre.jpg\"><img decoding=\"async\" aria-describedby=\"caption-attachment-41585\" class=\" wp-image-41585\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/Scene_de_Rue_a_Montmartre-300x225.jpg\" alt=\"landscape with people and a windmill\" width=\"228\" height=\"171\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/Scene_de_Rue_a_Montmartre-300x225.jpg 300w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/Scene_de_Rue_a_Montmartre-1024x770.jpg 1024w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/Scene_de_Rue_a_Montmartre-768x577.jpg 768w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/Scene_de_Rue_a_Montmartre-1536x1154.jpg 1536w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/Scene_de_Rue_a_Montmartre.jpg 2048w\" sizes=\"(max-width: 228px) 100vw, 228px\" \/><\/a><p id=\"caption-attachment-41585\" class=\"wp-caption-text\">van Gogh<\/p><\/div>\n<p>For the past month, the art world was bombarded with news about a fresh-to-the-market van Gogh that was coming up for sale.\u00a0 <em>Sc\u00e8ne de rue \u00e0 Montmartre<\/em> (18 x 24 inches) was created in 1887 and featured one of the three mills in Montmartre \u2013 the Pepper Mill. The painting carried a \u20ac5-8M estimate and became the top lot in the sale when it sold for \u20ac13.1M ($15.4M).\u00a0 But there is more to the story.\u00a0 During the sale, the auctioneer initially sold the work for \u20ac13.05M (hammer price) to a telephone bidder but quickly retracted and stated that it sold for \u20ac14M to an online bidder.\u00a0 A short while later, they offered the work again, and this time it hammered for \u20ac11.25M to the telephone bidder (it was later revealed that the buyers were the Reuben family &#8211; UK billionaires). You may be wondering why? Well, according to an article in The Art Newspaper:<\/p>\n<p><em>Sotheby&#8217;s\u2026 contacted the second successful online bidder, &#8220;who denied having placed a bid and obviously did not have the financial capacity to bear the price of [of the amount they had bid]&#8221;, although he or she had been given a paddle prior to the event. &#8220;Sotheby&#8217;s then decided to apply a provision that allows the sale&#8217;s director, when the sale is not concluded, to cancel it and put the lot back on auction&#8221;. The auction house says that it had informed all previous bidders and that the final price was &#8220;well above the estimate&#8221;.<br \/>\n<\/em><\/p>\n<p><em>According to an anonymous source close to the sale, on the Sotheby&#8217;s website the online bidder had to increase their bids by almost \u20ac1m, while Valette <\/em>[who was handling the telephone bidder]<em> had been allowed to bid several times in increments of only \u20ac50,000.<\/em><\/p>\n<p>Since French law is strict on issues like this \u2013 when the hammer falls, all sales are final &#8211; it will be interesting to see if Sotheby&#8217;s (or the initial online buyer) will be held responsible for the \u20ac2.75M price difference.\u00a0 You can read the full story here: <em><a href=\"https:\/\/www.theartnewspaper.com\/news\/sotheby-s-van-gogh?utm_source=The+Art+Newspaper+Newsletters&amp;utm_campaign=1443dd0582-EMAIL_CAMPAIGN_2021_03_26_02_45&amp;utm_medium=email&amp;utm_term=0_c459f924d0-1443dd0582-62091230\" target=\"_blank\" rel=\"noopener\">Selling, selling, sold&#8230;and sold again. The truth about the bungled sale of a Van Gogh at Sotheby&#8217;s<\/a><\/em><\/p>\n<div id=\"attachment_41584\" style=\"width: 220px\" class=\"wp-caption alignright\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/pissarro.jpg\"><img decoding=\"async\" aria-describedby=\"caption-attachment-41584\" class=\" wp-image-41584\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/pissarro-300x249.jpg\" alt=\"women working in the field\" width=\"210\" height=\"174\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/pissarro-300x249.jpg 300w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/pissarro-768x638.jpg 768w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/pissarro.jpg 1024w\" sizes=\"(max-width: 210px) 100vw, 210px\" \/><\/a><p id=\"caption-attachment-41584\" class=\"wp-caption-text\">Pissarro<\/p><\/div>\n<p>Now let us get back to the results. In a distant second was a recently restituted gouache by Camille Pissarro &#8211; <em>La R\u00e9colte des pois<\/em> &#8211; which was expected to bring \u20ac1.2-1.8M and made \u20ac3.38M ($3.97M). And in a close third was Picabia&#8217;s <em>La corrida (Le Matador dans l&#8217;ar\u00e8ne)<\/em> \u2013 another fresh to the market work \u2013 that carried a \u20ac1.7-2.5M estimate and sold for \u20ac3.15M ($3.7M). Rounding out the top five were a work on paper by Degas &#8211; <em>Danseuse au tutu vert<\/em> \u2013 that brought \u20ac2.67M ($3.14M &#8211; est. \u20ac2-3M), and another Picabia &#8211; <em>Adam et \u00c8ve<\/em> \u2013 that made \u20ac1.95M ($2.3M &#8211; est. \u20ac1.5-2M).<\/p>\n<div id=\"attachment_41583\" style=\"width: 187px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/picabia.jpg\"><img decoding=\"async\" aria-describedby=\"caption-attachment-41583\" class=\" wp-image-41583\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/picabia-218x300.jpg\" alt=\"matadors\" width=\"177\" height=\"244\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/picabia-218x300.jpg 218w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/picabia-744x1024.jpg 744w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/picabia-768x1056.jpg 768w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/picabia-1117x1536.jpg 1117w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2021\/03\/picabia.jpg 1454w\" sizes=\"(max-width: 177px) 100vw, 177px\" \/><\/a><p id=\"caption-attachment-41583\" class=\"wp-caption-text\">Picabia<\/p><\/div>\n<p>Several works performed well \u2013 Raffaelli&#8217;s <em>Les courses \u00e0 Jersey<\/em> made \u20ac302K ($355K &#8211; est. \u20ac50-80K), Le Sidaner&#8217;s <em>Trianon-sous-bois<\/em> made \u20ac351K ($413K &#8211; est. \u20ac120-180K), and Degas&#8217; <em>Mademoiselle Salle<\/em> achieved \u20ac545K ($641K &#8211; est. \u20ac250-350K).\u00a0 Then there were works by Moreau (\u20ac400-600K), Matisse (\u20ac400-600K), Pissarro (\u20ac150-200K), and Arp (\u20ac80-120K) that did not sell.<\/p>\n<p>By the time the small evening sale ended, of the 33 lots offered, 29 sold, giving them a sell-through rate of 87.8% (nice).\u00a0 The sale was estimated to bring between \u20ac19.16-29.9M and brought in \u20ac36.54M ($42.9M), so I am sure they were pleased, along with many of the sellers.\u00a0 Of the works offered, 2 sold below, 13 within, 14 above their estimate ranges.\u00a0 When we consider the 4 unsold works, this left them with an accuracy rate of 39.4% &#8212; a pretty solid number.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the 25th, Sotheby&#8217;s, Paris, presented a curated group of Impressionist and Modern works of art and the results were pretty good. (all final prices, unless otherwise noted, include the buyer&#8217;s premium; estimates do not) For the past month, the &hellip; <a href=\"https:\/\/rehs.com\/eng\/2021\/03\/more-auction-action-impressionist-modern-paris\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":21,"featured_media":41585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[207,20,88,120],"class_list":["post-41580","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"],"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>More Auction Action \u2013 Impressionist &amp; Modern, Paris<\/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\/2021\/03\/more-auction-action-impressionist-modern-paris\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More Auction Action \u2013 Impressionist &amp; Modern, Paris\" \/>\n<meta property=\"og:description\" content=\"On the 25th, Sotheby&#8217;s, Paris, presented a curated group of Impressionist and Modern works of art and the results were pretty good. 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