{"id":56551,"date":"2025-05-16T14:02:21","date_gmt":"2025-05-16T18:02:21","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=56551"},"modified":"2025-05-16T14:02:21","modified_gmt":"2025-05-16T18:02:21","slug":"sothebys-modern-evening-sale","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2025\/05\/sothebys-modern-evening-sale\/","title":{"rendered":"Sotheby’s Modern Evening Sale"},"content":{"rendered":"
\"An<\/a>

Grande t\u00eate mince<\/em> by Alberto Giacometti<\/p><\/div>\n

This past week, the New York auction houses hosted their May Marquee sales. Normally, this is the time of year when the major auction houses can flex and show off their most impressive consignments. However, that did not happen at Sotheby\u2019s during their Modern Evening sale on Tuesday night. It was, yet again, another example of how a single lot can make or break an auction. In this case, that lot was the painted bronze bust <\/span>Grande t\u00eate mince<\/span><\/em> by the Italian sculptor Alberto Giacometti.<\/span><\/p>\n

The work is a bust of the artist\u2019s brother Diego and was used by Sotheby\u2019s as the sale\u2019s premium lot. Sotheby\u2019s extensively used images of the sculpture as promotional material and even made an in-depth video on the work. There, Sotheby\u2019s specialist referred to it as \u201cmonumental\u201d, a \u201cmagnum opus\u201d, \u201cthe pinnacle of his work\u201d, and \u201cone of the defining images of the twentieth century\u201d. The bust was being offered at Sotheby\u2019s by the Soloviev Foundation. The work is substantial in terms of Giacometti\u2019s influence on sculpture. Many say that it drastically changed how sculptors and artists in general chose to represent the human form in a post-war world. Despite the work\u2019s significance and estimated value, perhaps Sotheby\u2019s was <\/span>a bit<\/span> too overconfident. The lot had no third-party guarantor. So when bidding stalled at $64.25 million, Oliver Barker brought the hammer down and announced that the work had not met its reserve and would remain unsold. Sotheby\u2019s did not livestream the auction through YouTube but later released a video the next day of the entire sale with all unsold lots edited out, including the Giacometti.<\/span><\/p>\n

\"An<\/a>

Homme assis<\/em> by Pablo Picasso<\/p><\/div>\n

Other than that one noticeable disappointment 45 minutes into the sale,<\/span> the remainder of the modern evening sale went relatively well. With the Giacometti out of the picture, it was Picasso\u2019s 1969 painting <\/span>Homme assis<\/span><\/em> that took the top spot. The painting is considered part of the artist\u2019s Mousquetaires series, consisting mainly of abstract portraits of mustachioed men. The painting was last sold at Sotheby\u2019s in November 2014 for $11.37 million w\/p. It did better this time, selling for slightly above its $12 million low estimate at $12.6 million (or $15.1 million w\/p). Coming up closely behind the Picasso was a 1942 oil painting by Georgia O\u2019Keeffe. As a vividly-colored close-up view of a plant, the work is <\/span>very<\/span> typical of the artist\u2019s most well-known work. O\u2019Keefe <\/span>was originally commissioned<\/span> to go to Hawaii in 1939 to paint local flora for Dole advertisements (known <\/span>at the time<\/span> as the Hawaiian Pineapple Company). <\/span>Leaves of a Plant<\/span><\/em> is not one of the two commissioned paintings but one of the paintings she created based on Hawaiian plant life after her return to New Mexico. Having been in the same private collection since 1978, buyers were anxious to get their hands on this rather unique O\u2019Keeffe. The hammer eventually came down nicely in between its pre-sale estimate range of $8 million to $12 million, selling for $10.75 million (or $12.97 million w\/p).<\/span><\/p>\n

\"A<\/a>

Leaves of a Plant by Georgia O’Keeffe<\/p><\/div>\n

And finally, it wouldn\u2019t be a major sale without something by the Belgian surrealist Ren\u00e9 Magritte. Like the other top lots, the painting <\/span>La Travers\u00e9e difficile<\/span><\/em> has been in the same private collection for decades. Magritte created the work in 1963, and it is one of several renditions of the same theme. Meaning <\/span>The Difficult Crossing<\/span><\/em>, the title refers to the ship on stormy seas in the background. The suited man, one of Magritte\u2019s favorite motifs, appears in this painting, representing the common individual. However, their head has <\/span>been replaced<\/span> by an enormous eyeball. Some interpret the cyclopean figure as a stand-in for a lighthouse, guiding the distressed ship to safety. It also comments on the power of perception, vision, and the everyday. Though it is a striking work, it is not as iconic of a subject as, say, the <\/span>L\u2019Empire des lumi\u00e8res<\/span><\/em> series. Estimated to sell for at least $10 million, the Magritte fell slightly short, hammering at $8.2 million (or $10.04 million w\/p).<\/span><\/p>\n

\"A<\/a>

La Travers\u00e9e difficile<\/em> by Ren\u00e9 Magritte<\/p><\/div>\n

In terms of the total amount of money the sale made, the failure of the Giacometti made the auction look like a complete disappointment. In total, the sixty available lots brought in $151.7 million (or $186.4 million w\/p), reaching only 65% of the way to its $230.2 million low estimate. Even if the Giacometti had reached $70 million as Sotheby\u2019s specialists had predicted, the sale as a whole would have, regardless, fallen slightly short. <\/span>This<\/span> is mostly due to a few other high-value lots going unsold that evening. These include Th\u00e9o van Rysselberghe\u2019s <\/span>Flottille d\u2019Arnemuiden<\/span><\/a><\/em> (est. $5 million to $7 million), <\/span>Le Bras<\/span><\/a><\/em> by Henri Matisse (est. $4 million to $6 million), and <\/span>Peinture 92 x 73 cm, 30 juin 59<\/span><\/a><\/em> by Pierre Soulages (est. $3 million to $5 million). Another group of numbers, however, tells a slightly more optimistic story<\/span>. Of<\/span> the sixty lots available that evening, twenty-two sold within their estimates, giving Sotheby\u2019s specialist a 37% accuracy rate. Twenty-one (35%) sold below their estimates, while five (8%) sold above. <\/span>This<\/span> left twelve lots unsold, giving Sotheby\u2019s an 80% sell-through rate. While those numbers are quite good, they aren\u2019t exactly typical of one of the May Marquee evening sales.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

This past week, the New York auction houses hosted their May Marquee sales. Normally, this is the time of year when the major auction houses can flex and show off their most impressive consignments. However, that did not happen at … More…<\/a><\/p>\n","protected":false},"author":6,"featured_media":56553,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[224,926,634,197,207,20,15,790,1362,758,120,750,418,9,606],"class_list":["post-56551","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-belgian-art","tag-20th-century-european-art","tag-20th-century-italian-art","tag-auction-news","tag-auction-results","tag-comments-on-the-art-market","tag-georgia-okeeffe","tag-giacometti","tag-magritte","tag-modern-art","tag-okeeffe","tag-picasso","tag-rehs-galleries-news","tag-sothebys"],"yoast_head":"\nSotheby's Modern Evening Sale - Rehs Galleries<\/title>\n<meta name=\"description\" content=\"As part of May Marquee sales, Sotheby's hosted their Modern Evening auction on May 13th. 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