{"id":45980,"date":"2022-10-16T17:50:16","date_gmt":"2022-10-16T21:50:16","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=45980"},"modified":"2023-11-27T05:46:36","modified_gmt":"2023-11-27T10:46:36","slug":"sothebys-london-contemporary-evening-sale","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2022\/10\/sothebys-london-contemporary-evening-sale\/","title":{"rendered":"Sotheby&#8217;s London Contemporary Evening Sale"},"content":{"rendered":"<div id=\"attachment_45762\" style=\"width: 363px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/09\/sothebys-md.brightspotcdn.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-45762\" class=\"wp-image-45762 \" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/09\/sothebys-md.brightspotcdn-300x119.jpg\" alt=\"Three Studies for Portrait of Henrietta Moraes by Francis Bacon\" width=\"353\" height=\"140\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/09\/sothebys-md.brightspotcdn-300x119.jpg 300w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/09\/sothebys-md.brightspotcdn-768x304.jpg 768w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/09\/sothebys-md.brightspotcdn.jpg 800w\" sizes=\"(max-width: 353px) 100vw, 353px\" \/><\/a><p id=\"caption-attachment-45762\" class=\"wp-caption-text\"><em>Three Studies for Portrait of Henrietta Moraes<\/em> by Francis Bacon<\/p><\/div>\n<p><span data-preserver-spaces=\"true\">On Friday, October 14th, Sotheby\u2019s London held their much-anticipated Contemporary Evening sale, anticipated because it featured the first of several works from the collection of former CBS President William Paley, which I discussed\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/rehs.com\/eng\/2022\/09\/the-william-paley-collection-coming-to-sothebys\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">earlier last month<\/span><\/a><span data-preserver-spaces=\"true\">.\u00a0<\/span><em><span data-preserver-spaces=\"true\">Three Studies for Portrait of Henrietta Moraes<\/span><\/em><span data-preserver-spaces=\"true\"> by Francis Bacon was the only lot of the Paley collection up for grabs that day and was expected to be the sale\u2019s big star. Sotheby\u2019s specialists estimated it would go for \u00a330M. Even though it fell short at \u00a323M \/ $25.7M (or \u00a324.3 \/ $27.2M w\/p), it was still the sale\u2019s most expensive lot. The house experts were also pretty spot-on with the second place lot, Gerhard Richter\u2019s 1966 oil on canvas <\/span><em><span data-preserver-spaces=\"true\">192 Farben<\/span><\/em><span data-preserver-spaces=\"true\">. It\u2019s a large painting of differently colored squares arranged in a grid. It fell nicely within its pre-sale estimate, expected to make at least \u00a313M, eventually reaching \u00a315.7M \/ $17.5 (or \u00a318.3M \/ $20.4M w\/p).<\/span><\/p>\n<div id=\"attachment_45981\" style=\"width: 179px\" class=\"wp-caption alignright\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-1.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-45981\" class=\"wp-image-45981\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-1-231x300.jpg\" alt=\"192 Farben by Gerhard Richter, sold at Sotheby's London - boxes of colors\" width=\"169\" height=\"220\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-1-231x300.jpg 231w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-1-790x1024.jpg 790w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-1-768x996.jpg 768w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-1.jpg 1024w\" sizes=\"(max-width: 169px) 100vw, 169px\" \/><\/a><p id=\"caption-attachment-45981\" class=\"wp-caption-text\"><em>192 Farben<\/em> by Gerhard Richter<\/p><\/div>\n<p><span data-preserver-spaces=\"true\">Other than those two, Sotheby\u2019s dropped the ball a bit when it came to some of the other highly valued lots. The Andy Warhol screenprint\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/sothebys-md.brightspotcdn.com\/8b\/17\/b86c722b4b4e94ac6c814bd32653\/l22024-cdwfv-001.jpg\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">Nine Multicolored Marilyns<\/span><\/em><\/a><span data-preserver-spaces=\"true\">\u00a0was expected to reach at least \u00a36M, but a lack of interest resulted in the hammer coming down at \u00a34.3M. A little later on, the Thomas Sch\u00fctte sculpture\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/sothebys-md.brightspotcdn.com\/dims4\/default\/3a03dba\/2147483647\/strip\/true\/crop\/6465x4085+0+0\/resize\/1024x647!\/quality\/90\/?url=http%3A%2F%2Fsothebys-brightspot.s3.amazonaws.com%2Fmedia-desk%2Fc6%2F12%2F5fc1623949b48142d619a27f6d46%2Fl22024-cc9wg-17-001.jpg\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">Bronzefrau Nr. 11<\/span><\/em><\/a><span data-preserver-spaces=\"true\">\u00a0was set to sell for at least \u00a32M but ended up the only lot that day that went unsold. Consequently,\u00a0<\/span><em><span data-preserver-spaces=\"true\">Head of J.Y.M.<\/span><\/em><span data-preserver-spaces=\"true\">\u00a0by Frank Auerbach became the sale\u2019s third-place lot. The person in the painting, Juliet Yardley Mills, is probably one of Auerbach\u2019s best-known subjects, with Auerbach having created multiple abstract portraits of her throughout the 1970s and 1980s. Appropriately, the Sotheby\u2019s house experts predicted the portrait would go for anywhere between \u00a33M and \u00a34M. However, it exceeded those estimates, with that day\u2019s bidders bringing the final hammer price to \u00a34.7M \/ $5.3M (or \u00a35.6M \/ $6.3M w\/p), an all-time auction record for Frank Auerbach. His previous record was set not even four months ago, when\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/sothebys-md.brightspotcdn.com\/dims4\/default\/b974ccd\/2147483647\/strip\/true\/crop\/1668x2000+0+0\/resize\/1024x1228!\/quality\/90\/?url=http%3A%2F%2Fsothebys-brightspot.s3.amazonaws.com%2Fmedia-desk%2F0f%2F7f%2Fbfe75cef40a9a8dade42699f23ab%2Fl22010-c8229-01a-pvt.jpg\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">Head of Gerda<\/span><\/em><span data-preserver-spaces=\"true\">\u00a0<\/span><em><span data-preserver-spaces=\"true\">Bohm<\/span><\/em><\/a><span data-preserver-spaces=\"true\">\u00a0sold at Sotheby\u2019s London on June 29th for \u00a33.4M.<\/span><\/p>\n<div id=\"attachment_45982\" style=\"width: 193px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-45982\" class=\"wp-image-45982\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-281x300.jpg\" alt=\"Head of J.Y.M. by Frank Auerbach, sold at Sotheby's London, Auerbach's auction record\" width=\"183\" height=\"196\" srcset=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-281x300.jpg 281w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-960x1024.jpg 960w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn-768x819.jpg 768w, https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/10\/sothebys-md.brightspotcdn.jpg 1024w\" sizes=\"(max-width: 183px) 100vw, 183px\" \/><\/a><p id=\"caption-attachment-45982\" class=\"wp-caption-text\"><em>Head of J.Y.M.<\/em> by Frank Auerbach<\/p><\/div>\n<p><span data-preserver-spaces=\"true\">In total, there were thirty-four lots available at the evening sale. Even though sixteen of them, or 47%, sold over their estimates, Sotheby\u2019s just barely snuck past the sale\u2019s total \u00a373.1M minimum estimate, reaching \u00a373.9M (or $82.6M). As previously noted, I attribute this to some of the higher-valued lots selling for under their estimates. But I think the only thing that saved the sale from bringing in less than expected was that eight initially listed lots were suddenly withdrawn the day of the sale. But I suppose with a 97% sold rate, as well as a 23% accuracy rate for the experts\u2019 predictions, the sale didn\u2019t do that bad.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Friday, October 14th, Sotheby\u2019s London held their much-anticipated Contemporary Evening sale, anticipated because it featured the first of several works from the collection of former CBS President William Paley, which I discussed\u00a0earlier last month.\u00a0Three Studies for Portrait of Henrietta &hellip; <a href=\"https:\/\/rehs.com\/eng\/2022\/10\/sothebys-london-contemporary-evening-sale\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":6,"featured_media":45762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[224,189,72,207,134,20,15,429,105,120,11,9,606,175],"class_list":["post-45980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-20th-century-american-art","tag-20th-century-british-art","tag-american-art","tag-auction-news","tag-auction-records","tag-auction-results","tag-comments-on-the-art-market","tag-contemporary-art","tag-london","tag-modern-art","tag-rehs-contemporary-news","tag-rehs-galleries-news","tag-sothebys","tag-warhol"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - 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