"Art market sentiment is sky high at the moment," said Evan Beard, head of specialty segments at Bank of America, "driven by low interest rates, stock market wealth effect, inflationary monetary policy and new crypto wealth that needs to be parked somewhere."at Sotheby's — created a trove of quality art trophies for wealthy bidders.
The sales from the Cox Collection, which was owned by the late Dallas oil tycoon Edwin L. Cox, totaled $332 million. It included Vincent van Gogh's 1889 masterpiece "Cabanes de bois parmi les oliviers," which sold for nearly $71.4 million — twice its estimate. Another van Gogh went for six times its estimate. The J. Paul Getty Museum in Los Angeles bought Gustave Caillebotte's "Young Man at His Window" for $53 million.
The Macklowe Collection, a product of the developer Harry Macklowe's bitter divorce, brought in $676 million. It was led by Mark Rothko's "No. 7," which went for $82.5 million. Along with the Giacometti sculpture that was acquired by Sun, it included a Jackson Pollock that went for $61.2 million and a towering Cy Twombly piece that fetched $58.9 million.
Sotheby's staff take calls for off-site bids, in front of Andy Warhol's "Sixteen Jackies", during an auction of The Macklowe Collection, at Sotheby's on November 15, 2021 in New York City.NFTs, or nonfungible tokens, also made a cameo at the fall sales. An "NFT-powered" sculpture by the digital artist Mike Winkelmann, better known as Beeple, went for $29 million at Christie's.
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