LONDON, June 23, 2017 /PRNewswire/ --
Sotheby's
(NYSE: BID) June 2017
sales of Impressionist & Modern Art
in London achieved $200.8
million (£157.1 million), exceeding their
overall low estimate of $178.7 million (£140 million)
and representing a nearly 11% increase in Dollars and a 29%
increase in Pounds on the same sales one year
ago.
The series was led by an Evening Sale that
achieved $161.3
million and saw the auction record for Wassily Kandinsky
broken two times over the course of the night: the artist's
Murnau – Landschaft mit grünem Haus from
1909 first sold for $26.4 million,
followed only six lots later by a powerful abstract masterpiece
from 1913 - Bild mit weissen Linien – that achieved
$41.6 million after a prolonged
bidding battle.
Additional highlights included an example from
Joan Miró's celebrated Constellations series,
which sold for $31 million, and
Alberto Giacometti's Grande figure from 1947 that
brought $22.6 million. Strong
prices for sculpture continued in the Day Sale with 22 works from a
private collection totaling more than $10
million and every lot finding a buyer.
"This week's auctions have reinforced our view that
the market seems to be strengthening, particularly for
masterpieces," said Mike Goss,
Sotheby's CFO. "We're also pleased to see that these stronger
sales results are not coming at the expense of
margins."
Sotheby's sales of Contemporary Art
in London will take place
next week on June 28 & 29.
About Sotheby's
Sotheby's has been
uniting collectors with world-class works of art since 1744.
Sotheby's became the first international auction house when it
expanded from London to
New York (1955), the first to
conduct sales in Hong Kong (1973),
India (1992) and France (2001), and the first international
fine art auction house in China
(2012). Today, Sotheby's presents auctions in 10 different
salesrooms, including New York,
London, Hong Kong and Paris, and Sotheby's BidNow program allows
visitors to view all auctions live online and place bids from
anywhere in the world. Sotheby's offers collectors the resources of
Sotheby's Financial Services, the world's only full-service
art financing company, as well as the collection advisory services
of its subsidiary, Art Agency, Partners. Sotheby's
presents private sale opportunities in more than 70 categories,
including S|2, the gallery arm of Sotheby's Global Fine Art
Division, and two retail businesses, Sotheby's Diamonds and
Sotheby's Wine. Sotheby's has a global network of 80 offices in 40
countries and is the oldest company listed on the New York Stock
Exchange (BID).
New York | +1 212 606
7176 | Lauren Gioia |
Lauren.Gioia@Sothebys.com |
London | +44 207 293
6000 | Mitzi Mina |
Mitzi.Mina@Sothebys.com |
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SOURCE Sotheby's