International Success

Sotheby’s brings in $1.2 billion during week of November sales

Works by Gustav Klimt, Frida Kahlo, Vincent van Gogh and (mostly) other European artists dominated Sotheby’s November Marquee Week of art sales, which collectively tallied almost $1.2 billion, a close second to the highest total in Sotheby’s history.

Andrew Wyeth (1917-2009), East Waldoboro, 1945. Tempera on panel, 25 x 47¾ in., signed lower left: Andrew Wyeth. Estimate: $4/6 million SOLD: $3,588,000

Five works sold for more than $50 million during Marquee Week, including Klimt’s Portrait of Elisabeth Lederer, which realized $236 million, the highest price paid for a piece of art in Sotheby’s history, and second highest price achieved at any auction. Kahlo’s El sueño (La cama) sold for $54 million, the highest price realized by a woman artist at auction, and Sotheby’s set a record for a still life by Van Gogh when Romans Parisiens went home with a bidder for more than $62 million.

American art sales were humbled by such figures but still strong for that sector of the art market with impressive results in the Modern Evening Sale on November 20, which saw a 100 percent sell-through rate and totaled $97 million. Georgia O’Keeffe’s Large Dark Red Leaves on White hit just below its high estimate of $8 million, selling for more than $7.8 million. Andrew Wyeth’s painting East Waldoboro went for just over $3.5 million and Childe Hassam’s oil Newport, October, Sundown brought in roughly $2 million.

Childe Hassam (1859-1935), Newport, October Sundown, 1901. Oil on canvas, 26¼ by 24¼ in., signed and dated lower right; signed with the artist’s monogram, dated 1901 and titled on the reverse. Estimate: $1.2/1.8 million SOLD: $2,002,000

“This has been a sensational, record-breaking week of sales for Sotheby’s and an indicator of our strong future at the Breuer,” says Sotheby’s CEO Charles F. Stewart. “We made history this week, achieving our second highest total ever, our largest ever modern art sales, including our largest ever evening and day sales, and smashing over 10 artist records. The art market has momentum, with major collections coming to market and Sotheby’s demand metrics at all-time highs.” —