Sotheby’s November 2009 sale of Impressionist and Modern art brings $181,760,000

Alberto Giacometti’s ‘ L’Homme qui chavire’

Barques au port de Collioure by André Derain

Pablo Picasso – Buste d’homme

Sotheby’s November 2009 sale of Impressionist and Modern art brings $181,760,000

Five works sold for more than $10 million and two artistrecords were set: André Derain’s Barques au Port de Collioure brought $14,802,500, and Kees van Dongen’sJeune Arabe totalled $13,802,500, with both significantly exceeding their high estimates

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November 5th 2009 – The auction was led by Alberto Giacometti’s mesmerizing L’Homme qui Chavire, an instantly recognizable iconof the modern era cast in 1951 which sold for a remarkable $19,346,500 (est. $8/12 million). Caught in theinstant he loses his balance, the legendary Falling Man, as he is known in translation, exists in a state of perpetualinstability and in a moment of transcendence as he hurls towards the future.

Two spectacular Fauvist works were among the new auction records established this evening. Five different bidderscompeted for Kees van Dongen’s powerful masterwork Jeune Arabe, driving the final price to a record-breaking$13,802,500, well above a high estimate of $10 million. André Derain’s glittering depiction of Barques au portde Collioure, circa 1905, also inspired heated bidding from six different collectors, finally selling to a bidder inthe room for $14,802,500, surpassing the high estimate of $8 million, comfortably doubling the artist’s previousrecord.

Wassily Kandinsky’s stunning Krass und Mild (Dramatic and Mild), one of the greatest Bauhaus-period works tohave appeared at auction in decades, achieved $10,610,500 (est. $6/8 million) and led a group of pictures fromthe collections of renowned philanthropist and patron of the arts, Dr. Arthur M. Sackler

Also among the top ten lots tonight was one of Pablo Picasso’s greatest monumental interpretations of themusketeer, Buste d’homme, 1969, which sold for $10,386,500 (est. $8/12 million). The picture was included inthe 1970 exhibition of the artist’s recent work at the Palais des Papes in Avignon and has not been shown publiclysince.

“Tonight’s results were clear vote of confidence for the art market,” said Simon Shaw, Head of Sotheby’sImpressionist and Modern Art Department in New York. “We wanted to put together a sale with works that werenot just of great quality but were also presented with attractive estimates. I think the great depth of bidding we sawthis evening is a testament to that strategy. Tonight was the first time since May 2006 in New York that weexceeded our top estimate, proving what we have seen consistently this year, that there is an enormous appetite forworks of art of great quality.”