New York best sales. Impressionist & Modern Art at Sotheby’s achieved $66,366,500 on May 8 2014, marking a new record result for this auction in New York*. The benchmark total follows the success of Sotheby’s Day Sale this February in London, which brought $85.7 million and marked a record total for this auction worldwide.
– 11 works achieved prices over $1 million today.
– the most works sold at this price level in any Day Sale of Impressionist & Modern Art at Sotheby’s worldwide.
– The auction was a strong 84.5% sold by lot, with an impressive 66% of sold lots achieving prices in excess of their high estimates.
– The total of $66.4 million exceeded the sale’s high estimate of $60.4 million**
– As was the case in yesterday’s Evening Sale, the impact of participation from international markets and particularly from Asian collectors was felt throughout the day.
The top lots in today’s auction each achieved prices far surpassing their high estimates: Lyonel Feininger’s Sails led the auction, achieving $3,189,000 above a high estimate of $800,000; the sale’s catalogue cover lot Pichet et journal by Georges Braque brought $2,965,000, more than four times its high estimate of $700,000; and Louis Anquetin’s Avenue de Clichy, le soir, cinq heures set a new auction record for the artist at $1,805,000 – nearly $1 million above his previous record price (est. $350/450,000).
Three previously-undocumented works by Joan Miró that had been hidden in a vault for half a century emerged for the first time in Sotheby’s Evening and Day sales. Miró created the works for the acclaimed filmmaker and photographer Thomas Bouchard – who filmed the documentary Around and About Joan Miró – and his daughter Diane. The Day Sale featured Sans titre, which fetched $1,265,000, more than double its high estimate of $600,000. Along with another Untitled work from the Bouchards’ collection that brought $8 million in the Evening Sale, the three works together achieved $9.3 million.
Twelve works by Salvador Dalí sold throughout the auction, together bringing $3 million. The works were led by The Eye of Time, the finest jewel the artist ever created, which sold for $1,055,000. Originally conceived in 1949 as a gift for his wife Gala, the platinum, diamond, ruby and blue enamel brooch incorporates two of Dalí’s most iconic symbols: the eye and the clock.
* The previous record total for a Day Sale of Impressionist & Modern Art at Sotheby’s New York was set in November 2007 with $61.8 million.
**Estimates do not include buyer’s premium and prices achieved include the hammer price plus buyer’s premium.