Pablo Picasso
Le Sauvetage, 1932
Sold for $31,525,000 at Sotheby’s
Claude Monet
Nymphéas, 1907
Sold for $27,045,000 at Christie’s
Picasso, Monet lead Impressionist and Modern auctions Pablo Picasso’s ‘Le Sauvetage’ sold for $31,5 million at Sotheby’s auction of Impressionist and Modern Art, while Christie’s auction was highlighted by Claude Monet ‘Nymphéas’, which realized $27 million.]]>
May 8th 2014, source: Sotheby’s / Christie’s
Christie’s Sale – Tuesday, May 6th 2014
Christie’s auction realized $285,879,000 (£168,668,610 / €205,832,880), which is the highest total for Christie’s New York in this category since May 2010, according to the auction house. However, many important works were sold around their low estimate, including the top lot at the auction, Claude Monet‘s “Nymphéas” from 1907, sold for $27,045,000 against a pre-sale estimate of $25-35 million. It is a charming painting, but there have been a lot of “Nymphéas” on the market these last five years. More disappointing was the sale of Pablo Picasso‘s “Portrait de femme (Dora Maar)”. Estimated at $25-35 million, it sold for just $22,565,000.
Salvador Dalí‘s excellent “Moment de transition” (1934) realized $9,125,000 against a pre-sale estimate of $10-15 million. Everything you want in a Dalí is contained in this painting. Another little masterpiece, “Strandszene” (1909) by Wassily Kandinsky, sold for $17,189,000, slightly over its low estimate.
Among the successes, Amedeo Modigliani’s “Jeune homme roux assis” (1919) soared past its $8-12 million estimate, realizing $17,637,000. Christie’s noted that this painting was last sold in 2002 for $8,479,500. Also, Alberto Giacometti’s “Femme de Venise IV” (sold in 2000 for $2,820,686) achieved $12,709,000.
Sotheby’s Sale – Wednesday, May 7th 2014
Sotheby’s auction realized $219,010,001 (£128,988,752 / €157,060,000), and it was led by Pablo Picasso’s “Le Sauvetage” (1932) that sold for $31,525,000, soaring over its high estimate of $18 million. A great price for a great, powerful painting. Sotheby’s noted that this work was last sold at auction at Sotheby’s New York a decade ago, when it fetched $14.8 million. Two other works by Picasso, “Vase de fleurs et compotier” and “Femme dans un rocking-chair” sold for over $6 million. However, another Picasso was also the major disappointment of the sale: “Tête de Marie-Thérèse”, a 1932-34 work described by Sotheby’s as “radiant”, failed to find a buyer. The work carried an estimate of $15-20 million.
Asian collectors purchased works for a total of $63.9 million – nearly 30% of the auction total. These works including Henri Matisse‘s pleasing “La Séance du matin” -which sold for $19,205,000, the second highest price at the auction-, Claude Monet’s nearly abstract “Le Pont japonais” -third spot with $15,845,000, which is quite a bargain in my humble opinion- and Alberto Giacometti‘s “La Place”, which commanded the fourth highest price, realizing $13,045,000.
Talking about bargains, Claude Monet’s “Cathédrale de Rouen” is obviously not a prime example of Monet’s ultra-important “Rouen series”, but it is still the kind of painting you want for a collection of Impressionist works. It sold for less than $4 million. A good companion for this work would be “La Seine à Rouen, Pont de Boieldieu” by Camille Pissarro, which failed to sell despite its very conservative estimate of $800,000 – 1,2 million.
Related content
Monet’s ‘Nymphéas’ to lead Christie’s sale (news, October 2012)
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