{"id":54517,"date":"2024-06-28T09:48:36","date_gmt":"2024-06-28T13:48:36","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=54517"},"modified":"2024-06-28T09:48:36","modified_gmt":"2024-06-28T13:48:36","slug":"sothebys-london-modern-contemporary-evening-sale","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2024\/06\/sothebys-london-modern-contemporary-evening-sale\/","title":{"rendered":"Sotheby’s London Modern & Contemporary Evening Sale"},"content":{"rendered":"
\"A<\/a>

Portrait of the Artist as a Young Derelict<\/em> by Jean-Michel Basquiat<\/p><\/div>\n

Sotheby\u2019s London hosted their Modern & Contemporary evening sale on Tuesday, June 25th, featuring paintings, drawings, and sculptures mainly by nineteenth- and twentieth-century European and North American artists. The auction\u2019s top lot, predicted by Sotheby\u2019s specialists as such, was a large triptych by Jean-Michel Basquiat called <\/span>Portrait of the Artist as a Young Derelict<\/span><\/em>. The painting caught some attention in the press mainly because of something that rarely happens to a Basquiat painting; it seems to have decreased in value, according to Sotheby\u2019s. The painting\u2019s owner consigned it to Christie\u2019s in 2022, where it would appear in their New York Contemporary Evening sale that May. However, the seller withdrew the painting shortly before the auction took place. Christie\u2019s expected it to sell more than $30 million. Over two years later, Sotheby\u2019s reassessed its value and gave it an estimated range of \u00a315 million to \u00a320 million. There was no great bidding war, as it took fifteen seconds for the winning bid to come through, with forty-four seconds spent on the lot. It sold for its low estimate at \u00a315 million \/ $19 million (or \u00a316 million \/ $20.36 million w\/p).<\/span><\/p>\n

\"A<\/a>

Guitare sur un tapis rouge<\/em> by Pablo Picasso<\/p><\/div>\n

Behind the Basquiat was one of Pablo Picasso\u2019s cubist still-lifes from 1922, entitled <\/span>Guitare sur un tapis rouge<\/span><\/em>. It was previously in the collection of Walter P. Chrysler Jr., founder of the Chrysler Museum in Norfolk, Virginia, and son of the auto industry executive Walter Chrysler. The painting was last sold at Christie\u2019s London in 2004 for \u00a31.8 million w\/p. The Picasso started at \u00a38 million, making its way up to \u00a39.3 million \/ $11.8 million (or \u00a310.7 million \/ $13.6 million w\/p) before running out of gas and the hammer coming down, falling slightly short of its \u00a310 million low estimate – not a bad increase over the past 20 years. Behind the Picasso was one of the several Renoir paintings featured in the sale. <\/span>Bouquet de lilas<\/span><\/em> was the first of four Renoir paintings available at Sotheby\u2019s on Tuesday, this one an 1878 floral still-life. The painting has a long history of bouncing around between galleries, dealers, and private collectors, including Georges Petit, Galerie Durand-Ruel, and Lionel Pissarro. It last sold at auction at Sotheby\u2019s New York in 1987 for $852.5K w\/p. Unlike the Basquiat and the Picasso, which sold at or slightly below their minimum estimates relatively quickly, the Renoir attracted quite a bit of attention. Bidding started at \u00a31.3 million, and things slowly but steadily chugged along, with the painting surpassing its high estimate after just under three minutes. After eight minutes of bidding, the Renoir sold for \u00a35.8 million \/ $7.4 million (or \u00a36.88 million \/ $8.7 million w\/p).<\/span><\/p>\n

\"A<\/a>

Bouquet de lilas<\/em> by Pierre-Auguste Renoir<\/p><\/div>\n

There were not many surprises at Sotheby\u2019s, but one painting towards the end <\/span>seemed to draw<\/span> more attention than expected. <\/span>Autoportrait en blanc<\/span><\/a><\/em> by Fran\u00e7oise Gilot is a self-portrait of the artist created in 1944. The work appears to have been influenced by sculpture, which was not unusual for the time as other artists like <\/span>Jean Metzinger<\/span><\/a> and <\/span>Fernand L\u00e9ger<\/span><\/a> were doing the same. Predicted to sell for no more than \u00a3150K, the Gilot brought in a steady stream of bids before selling for twice that price at \u00a3300K \/ $380.4K (or \u00a3360K \/ $456.4K w\/p). The success of the Gilot self-portrait reminded me somewhat of a different painting by the artist that <\/span>sold at Christie\u2019s Paris in April<\/span><\/a>. <\/span>Le Concert Champ\u00eatre<\/span><\/em> selling for \u20ac1.3 million hammer was a far more important moment than you might expect. It signaled Gilot\u2019s increasing acceptance in the European market. Most of Gilot\u2019s success came from the United States, where she moved after ending her relationship with Pablo Picasso. Though not as significant of a moment as <\/span>Le Concert Champ\u00eatre<\/span><\/em> selling in Paris, the Gilot\u2019s success in London proves that the artist\u2019s reputation in Europe is drastically improving.<\/span><\/p>\n

Overall, Sotheby\u2019s did rather well. Of the fifty available lots on Tuesday, nineteen sold within their estimates, giving Sotheby\u2019s specialists a 38% accuracy rate. An additional sixteen (32%) sold under estimate, and eleven (22%) sold above. With only four lots failing to sell, Sotheby\u2019s achieved a 92% sell-through rate. Furthermore, the house did relatively well in terms of its total, adding up to \u00a372 million \/ $91.4 million against the low presale estimate of \u00a369.57 million.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Sotheby\u2019s London hosted their Modern & Contemporary evening sale on Tuesday, June 25th, featuring paintings, drawings, and sculptures mainly by nineteenth- and twentieth-century European and North American artists. The auction\u2019s top lot, predicted by Sotheby\u2019s specialists as such, was a … More…<\/a><\/p>\n","protected":false},"author":6,"featured_media":54518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[384,146,224,634,207,20,623,15,88,71,120,418,11,9,1130,606],"class_list":["post-54517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-19th-century-european","tag-19th-century-french","tag-20th-century-american-art","tag-20th-century-european-art","tag-auction-news","tag-auction-results","tag-basquiat","tag-comments-on-the-art-market","tag-french-impressionist","tag-impressionism","tag-modern-art","tag-picasso","tag-rehs-contemporary-news","tag-rehs-galleries-news","tag-renoir","tag-sothebys"],"yoast_head":"\nSotheby's London Modern & Contemporary Evening Sale - Rehs Galleries<\/title>\n<meta name=\"description\" content=\"On June 25th, Sotheby's London hosted its Modern & Contemporary Evening sale, featuring works from Impressionists to the present day.\" \/>\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\/2024\/06\/sothebys-london-modern-contemporary-evening-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sotheby's London Modern & Contemporary Evening Sale\" \/>\n<meta property=\"og:description\" content=\"On June 25th, Sotheby's London hosted its Modern & Contemporary Evening sale, featuring works from Impressionists to the present day.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2024\/06\/sothebys-london-modern-contemporary-evening-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T13:48:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-26-at-4.50.39-PM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1026\" \/>\n\t<meta property=\"og:image:height\" content=\"1152\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Nathan Scheer\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Scheer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2024\\\/06\\\/sothebys-london-modern-contemporary-evening-sale\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2024\\\/06\\\/sothebys-london-modern-contemporary-evening-sale\\\/\"},\"author\":{\"name\":\"Nathan Scheer\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#\\\/schema\\\/person\\\/1d33fd182b28afdad8fc3548ffe6bdc4\"},\"headline\":\"Sotheby’s London Modern & Contemporary Evening Sale\",\"datePublished\":\"2024-06-28T13:48:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2024\\\/06\\\/sothebys-london-modern-contemporary-evening-sale\\\/\"},\"wordCount\":755,\"publisher\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2024\\\/06\\\/sothebys-london-modern-contemporary-evening-sale\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rehs.com\\\/eng\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Screenshot-2024-06-26-at-4.50.39-PM.png\",\"keywords\":[\"19th Century European\",\"19th Century French\",\"20th Century American Art\",\"20th Century European Art\",\"Auction News\",\"Auction Results\",\"Basquiat\",\"Comments on the Art Market\",\"French Impressionist\",\"Impressionism\",\"Modern Art\",\"picasso\",\"Rehs Contemporary - 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